What is CRM and Why is it Critical to Business Success

What is CRM?

Companies are changing the way they do business. Today's managers and strategists are turning to Customer Relationship Management (CRM). Great companies have always been built around strong customer relationships.

CRM is a strategy used to learn more about prospects and customers’ needs and behaviors in order to develop stronger relationships with them. There are many technological components to CRM, but thinking about CRM in primarily technological terms is a mistake. The more useful way to think about CRM is as a process that will help bring together disparate of information about prospects, customers, sales, service, marketing effectiveness, responsiveness and market trends using converging technologies.

Practical Definition: The ability of an entire organization to effectively identify, acquire, foster and retain loyal customers.

CRM-Business-Development-Outline

The full force of CRM is used to accelerate your business by having a trusted system for those business relationship development activities.

The net benefit of this customer centric strategy supported by a CRM system for continuous knowledge capture is your have a much more valuable business.  A well implemented CRM system is an appreciating asset of your business.

View a list of Critical Business Issues and Challenges that CRM can help solve!

Dick Wooden

 

Reasons to Invest in and Results Gained with CRM: 

  • Increase the Value of Your Business!
    • Information about Your Customers is an asset that appreciates.
    • Successful Processes and procedures in a trusted system increase the value.
  • Accelerate sale velocity
    • Faster conversion of lead to qualified opportunity and to closed sale.
    • Improved follow up and reporting
  • Make Informed Decisions- faster and easier 
    • Dashboards of business activity and completed objectives to guide the staff and the business.
  • Enhanced Customer Management and Retention
    • Comprehensive Customer Knowledge
    • Higher Customer Satisfaction
    • Enhanced Customer Loyalty
    • Improve and Measure Sales and Marketing Effectiveness Better information for Management Decision Making
    • Reduce Administrative Costs
    • Improved Employee Morale

  

Benefits of CRM:

My role is: 

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An integrated CRM system is a component of business improvement strategy focused around the customer. It produces an multiplication of positive results throughout the organization. Read more about what it means to you - Stakeholder Value Returned from the Benefits of CRM.

View how what benefits are provided to the roles of: C-Level/Managers, Sales, Marketing, Customer Service and IT support, here.....

Read about Results Gained with a CRM business strategy and system.

 

Objectives of CRM: 

  • To Target new, qualified prospects
  • To Acquire new customers (clients, distributors, partners, etc.)
  • To Develop customers - understand this wants and needs to deliver the value in products, services and solutions.
  • To Retain profitable customers - a lite-time investment

  

3-Pillars-CRM

 

CRM has the ability to provide a 360 degree view of your Business.

Click on image for full view...

360 degree view  

 

 

 

Take the Next Step

Is your business ready for a CRM business strategy and business building system?   How much longer can you wait?  Is Your competition there already?

Learn more about or contact Dick Wooden, business catalyst and consultant that specializes in high value, CRM solutions for businesses that want to grow their business profitably.