Customer relationship management has come a long way in a short time. For example, just 102 years ago, America’s first supermarket opened (a Piggly Wiggly in Memphis Tennessee), forever changing the way Americans obtained their food and the way grocers marketed their products. Fast forward to 2019, and people can order food, have it delivered to their door in 20 minutes, and rate their customer experience with just a few clicks, all while leaving a valuable digital trail. In today’s interconnected digital world, businesses have access to an assortment of consumer details and information. This data provides diverse advantages for companies when used properly.
One way businesses manage their interactions with current and potential customers is by using a customer relationship management (CRM) system. These systems can analyze a customer’s history with a company and help businesses improve their relationships with their customers. Here are some of the ways a CRM can augment a business's customer support and acquisition strategy.
1. Improve data storage
CRM systems store and organize consumer data, making it easy to share with various people in the company. Creating and distributing information or data about current clients or new customers is a large benefit of implementing a CRM system.
By collecting data in one place, businesses can share data across locations and departments. For example, a restaurant can upload a profile on a customer. The information about this customer including their preferences or allergies is then accessible to the individuals on the wait staff who can utilize it the next time the customer visits.
Outside of current consumer data, CRM systems also aid in lead conversions. Knowing what the last conversation was about when speaking to prospective clients or where in the process a lead is ultimately helping to close sales.
2. Improved management of everyday tasks / new client tasks
To get the most benefit from CRM, companies should build upon or migrate data from existing systems. Prior to implementation, businesses should stay up-to-date with the sorting of data information or consider what steps in the process need updates.
Businesses can optimize communication and collaboration by using a CRM system. When data is stored in a single location, team members can easily access data pertinent to their day-to-day tasks. Additionally, CRM systems free up time for customer service representatives to focus on their customer’s needs.
Features embedded in many CRM systems allow managers to delegate tasks and assign them to team members, allowing for easy workflow tracking. In the flurry of new client activities or a busy time at the office, it can be easy for smaller projects to be understaffed or neglected. However, CRM systems allow designated personnel to assign tasks to individuals and routinely check in on those tasks.
As companies grow, so do their workforces. In order to keep workforce data up to date, organized, and easily accessible, many companies are implementing Accounting systems (QuickBooks) into their business strategies. Because the analysis of this information is now automated, it can easily and accurately drive managing everyday tasks set forth by the CRM system.
3. Easily transfer knowledge
When companies are growing, CRM systems facilitate information sharing with new team members. Instead of giving various files or handwritten notes to new team members, these systems let businesses share organized customer data.
Rather than trying to pass data from older team members to the next generation, CRM systems simplify knowledge sharing. These systems can act as depositories for tips or tricks for dealing with difficult customers and facilitate communication among team members.
Additionally, CRM systems compile relevant information in one place and designate who can see and share that data. These two benefits allow companies to exercise prudence when sharing data among team members.
4. Increased personalization of the customer experience
CRM systems are another way for businesses to push personalized messages to their customers. Businesses can generate automated emails or texts to customers or send out birthday messages or deals to customers. Personalized messaging can go a long way in the eyes of consumers.
Businesses can reap the benefits of collecting and storing customer information to help with future business endeavors. They can use this information as fodder for the next campaign or as an insight into where to make improvements. The more data a business has to review and the better it’s organized, the more opportunities they have to create a unique experience for their customers.
5. Gain knowledge for the future
Data collection on current clientele leads to an analysis of their purchasing behaviors. Knowing where a customer left during an e-commerce purchase or which brick and mortar locations have seen a downturn in business is helpful when making plans for the future.
A supplementary benefit of using a CRM is the ability to generate reports in real-time. Companies can make decisions based on recent data from a campaign or promotion. These insights are extremely helpful when reviewing what can help recruit more customers. Having this data on hand even aids in a competitive advantage for some businesses.
When businesses properly implement a CRM system, they can benefit from its organizational and analytical capabilities. From insights into customer behavior, to where to improve their campaigns, CRMs have a large impact on a company’s decision-making processes. Companies can improve their customer service by employing the best of what CRM systems have to offer.
Helpful visualizations available in management dashboards increase decision quality and speed, generating business acceleration advantages.
Example: Creatio dashboard in web or mobile view
Ready to discuss accelerating your business operations and relationship development?
Read more about:
Articles about CRM as a business asset