Leveraging your CRM for business benefits
A successful CRM (customer relationship management) system implementation has challenges and rewards. The secret of driving a successful CRM initiative is about getting the right mix of people, process, and technology. It’s about enhancing the customer-facing business processes (30% of the initiatives’ success), securing people buy-in for the enhanced processes (60% of initiatives’ success), and applying technology to support the enhanced processes (10% of initiatives’ success).
The business vision, once implemented and honed, is ready for the accelerated, ever-increasing business demands. Those powerful yet easy-to-generate CRM business reports are ready to deliver valuable business insights.
The top 9 benefits a well-used CRM will bring your business include:
1. Having one trusted, reliable source of information about prospects, customers, competitors, vendors, strategic relationships, and communications among staff. CRM ties together various departments with a single data source to address customer inquiries and concerns faster and more consistently. It's great to have a historical transaction log of completed activities, emails, notes, opportunities, support cases, and marketing results for making smarter, timelier decisions.
2. Helping salespeople make intelligent decisions about connecting with the best opportunities, following up, directing next actions, and scheduling future appointments.
3. Allowing customer service representatives to access sales promises from previous communications. Determining intelligent next steps from older, resolved issues. Providing fast solution actions for customers.
4. Offering more effective marketing with the ability to inform and nurture. What person doesn’t feel more included when they receive a personalized message that brings insight and value?
5. Increasing the engagement of staff so their focus, involvement, helpfulness, observations, and articulations make communication more effective and efficient.
6. Adding value from increased productivity and efficiency across departments. (A well-oiled machine equals higher productivity.)
- Easily shared integrated communications history
- Only one best source of information
- Increase in the time salespeople spend with existing customers, per day
- Easy viewing of the history of sales, service, and communications to expedite successful and valuable conversations
- Reduction in ‘closing’ time coming from more ideal prospects
- Increase in the timeliness of follow-up correspondence to customers/prospects.
- More quickly gaining new insight from people and organizations with visual tools.
- More on sales productivity.
7. Providing enhanced customer care – let’s not forget the reason we're in business: the prospects, customers, and strategic partners. Build on the positive feeling of helping others.
- Being appreciated and remembered as a past buyer
- Being recognized for referrals
- Having a more positive response from customer service/support who 'know what's going on'
- Talking to sales representatives who know a lot about me and my business role. They're on top of the status of open or closed issues.
- 3 out of 4 consumers say they spend more money with a company because of a positive customer experience
- CRM improves customer retention by as much as 27%
8. Increasing business value from the increase in overall business results. The information in the CRM system guides smarter, more informed decisions, adds value to the people, adds value from quality information, and is an appreciating asset to the business.
9. Increasing the chances of making correct decisions. Reacting to customer behavior and market trends faster. CRM allows quick access to real-time sales, customer sentiments, and trends from various channels, web visits, social network, and selling transactions. More on better decision making.
Check out some additional blogs and resources:
Articles on Results gained with CRM