What is a CRM & How can it help your business?
We’ve been talking about telltale signs that your business might need a CRM – Customer Relationship Management – to increase customer satisfaction and create a more effective, productive way of delivering services.
Let’s take a step back today and find out more about what CRM is and how it can help your business have more time to focus on the important things and also grow in terms of sales and profit.
What is CRM?
To put it simply, CRM is a program or piece of software technology that helps manage your relationships with your customers.
If you run a business where you rely on customers’ satisfaction and purchases to maintain profits and grow, then a CRM is probably something that you need to look at when you’re ready or showing one of these telltale signs.
What does CRM actually do?
A good CRM stores all your customers’ details in an organised, user friendly database that everyone has access to.
More importantly, CRM helps your business manage communications, engagement and touch points with a customer at any key points.
Here are some of our favourite CRM capabilities for our business:
- Organise your customer data in one spot
One of the most ‘basic’ things that a CRM does is centralise customer data – such as contact details, communication/engagement history, and information such as what they’ve purchased, how they found your business – in one place that is accessible by everyone in your business. Better yet all this data can be segmented so that you can find the information you want faster and more accurately. For example, if you want to send a special offer to customers who have spent $100 with your business, you can create, find, download and email to a ready list.
- Help you develop and stick to a sales process
A good CRM can integrate all your sales systems and help build a sales process that identifies what is stalling a lead or a purchase so you can fix the issue, send you reminders when it is a good time to get in touch with a customer, predict sales outcomes and deliver a better sales experience for customers. A well recorded sales process also makes it faster for new team members to be onboarded.
- Increase customer satisfaction
Imagine being able to personalise your engagement with customers because you have noted their interests and behaviours at every interaction. Now that’s great customer service. A good CRM can help you anticipate your customer’s needs before they reach out to you, send you reminders when you have to call back or complete a request for a customer, and solve their problems as soon as they arise.
- Make your marketing more efficient and targeted
Using your customers provided data on their preferences and interests, you can make sure that the marketing / communications that you provide them is what they want to hear or know about. For example, if your customers indicate they only want to receive sales details, your marketing team can make sure they only get sales information. Or, if text messages is their preferred way for communications, you won’t call them or email them.
- Make informed decisions
A CRM allows you to download customised reports that will provide you important information such as which product or service is sold more or in which area and for what demographic? With this information, your business can decide on where to focus your marketing so that it is more effective or which product or service to put more resources on to meet the increased demand.
As you can see, there are many benefits to having a CRM for your business.
Want to find out more about CRMs and how it can help your business achieve better customer service, solve data management issues and increase profits?
Get in touch and we can help you with making the best decision when it comes to all things CRM.