How CRM is Changing the Way Companies Do Business

How CRM is Changing the Way Companies Do Business 2020-Negosentro

Negosentro|How CRM is Changing the Way Companies Do Business|Successful businesses center customers in everything they do. Keeping customers at the heart of business operations improves service, forms long-lasting relationships and helps ensure a healthy future for your business.

Businesses maintain relationships with loyal fans through customer relationship management, or CRM. Many companies benefit from CRM software and technology to improve their customer relationships and sales outcomes, relying on data to inform future decisions. As available data has multiplied in the past several years, CRM practices have taken on a leading role in the world of business strategy. Here are a few ways CRM is changing the way companies do business.

Improved Target Marketing

Businesses spend significant advertising dollars to share their message with potential customers in their target audience. Whether your product is intended for new moms or empty-nesters, tailoring your message to your audience and sharing it through the right channels is essential to attracting new fans. With all that effort to make sure your advertising gets to the right people, you want to be able to capitalize on any leads your marketing produces. Converting marketing leads into sales is one of the benefits of crm. Companies that connect marketing tools such as email and social media to a CRM system get a full, data-rich view of a customer’s habits and previous interactions with the brand, allowing sales representatives to effectively target their final pitch.

Centralized Data

Any business that has tried to keep customer records through a series of spreadsheets knows the downfall of decentralized data. It’s difficult to keep track of customer interactions and sales through spreadsheets, and it’s easy to miss updates to contact information. A CRM gathers all customer information in one place, allowing access to your company’s sales, marketing and customer service teams. According to Business.com, centralized data also helps improve internal collaboration. Workers in different departments can share updates and collaborate on projects efficiently within a CRM system, increasing productivity. 

Accurate Customer Records

Customer information changes frequently. From updated email or mailing address to shifts in buying behavior, there are many bits of information for each of your customers that can fall out of date without a robust customer relationship management platform. A CRM ensures that the address updates your customer service representatives collect will be saved, meaning you won’t lose customers by not being able to reach them. A powerful CRM can also log customer interactions, allowing everyone on your team to see past customer complaints or praise and your company’s reaction to it. Knowing the full picture of a client’s past interactions informs sales conversations and avoids potential pitfalls. For larger companies, record-keeping through a CRM provides seamless customer service, as the system allows different sales reps to quickly access a customer’s history and solve problems without asking them to repeat information.

Personalized Marketing Messages

According to Forbes, 86% of customer respondents to a 2018 survey said personalization has an impact on the purchasing decisions, while 25% said a personal touch has significant influence. A CRM system that integrates with your email marketing platform or has email functionality of its own makes personalization possible. Simply adding the customer’s first name to your email’s greeting adds a personal touch, and is an easy field to pull in from a CRM-powered database. 

A CRM can also power email targeting based on past behavior. For example, you might send a marketing campaign to a segment of your customer list that has shown past interest in a specific product line, then follow up with another message that goes only to customers who clicked on the first campaign. Targeted, automated followup messages can produce significant sales, and they go only to the people most likely to be interested in receiving them. The data kept in your CRM system improves a company’s ability to reach customers through email without crowding their inbox with irrelevant messages. 

In today’s data-driven business world, brands that can effectively gather, store and act on available customer information are able to form stronger relationships, provide efficient customer service and make the most of their marketing efforts.

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