When it comes to the world of business, there are many ways to building lasting relationships with your customers. One of these ways is through customer relationship management, also known as CRM. CRM is the process of managing interactions with potential customers and existing customers to build relationships which have the potential to convert into sales.
What does CRM software do?
In a nutshell, CRM software records customer information such as email, phone, social media profile and more. The software then organises this information to provide you with an in-depth analysis of your customer relationships over time. Analysing this information can give you great insight into your audience and help you navigate your business more efficiently.
Different CRM systems have different features to help you engage with your customers on a deeper level. Common features include:
- Email marketing
- Calendar and reminders
- Internal chat integration
- Marketing automation
- Task management
Choosing the right CRM system for your business can be based on multiple factors such as the size of your business and what you would like to achieve. If your aim is to increase sales, improve customer service and create marketing campaigns that convert, then a CRM system can help you achieve this.
Why is CRM important?
The main function of CRM is customer acquisition and retention. It allows you to develop relationships that can turn into profits. Not only is it suitable to build interactions with customers but it also allows you to gain a deeper insight into companies, partners and suppliers. A good CRM system is efficient for business because it automises and analyzes the data needed for you to create targeted marketing campaigns, provide excellent customer service and make more sales.
How can your business benefit from CRM?
There are many benefits to CRM for businesses across different industries including:
- Maintain relationships between existing and potential customers.
- Keep track of how well your marketing campaigns are performing.
- Monitor employee progress e.g. sales targets.
- Provide a common platform for customer interaction so crucial information isn’t missed.
- Enables easy cross-team collaboration.
- Access to reliable sales forecasting and sales metrics.
Regardless of what type of business you run, a good CRM system is helpful in the process of managing customer data which has the potential to boost your marketing ROI and help your business grow.
- If you own a an e-commerce business selling goods, CRM could consist of email marketing, landing page creating and marketing analytics.
- If you provide customer service and support, CRM may be done in the form of a live chat or ticketing systems.
What CRM system is right for you?
It’s important to choose a CRM system that fits your business. Different CRM platforms commonly have multiple price tiers so your system is tailored to the needs of your business. Other CRM platforms are completely free. Popular platforms include:
Whether you’re a small business or an established business, a customer relationship management system is a great way to create both short-term and long-term strategies for your business. As with everything, it will take time to find out what works for you but organising your customer data is a great start and maximising customer engagement is a great start.
T K Williams-Nelson