How an effective CRM system benefits your organization

A customer relationship manager (CRM) streamlines many of the interactions between a company and its customers, but its benefits go well beyond keeping your regular customers happy.

When you take advantage of all the power available from a fully-featured CRM, you can improve your relationships, make new ones, and use the data to formulate more effective marketing strategies. If you haven’t yet considered integrating a CRM into your organization, then consider the following advantages.

Keep Your Teams on the Same Page

  • When the sales team work separately and base their daily actions on information that may be outdated, the result is confusion, a dissatisfied customer, and the potential for many lost hours of productivity. CRMs can link all departments, so every team member who connects with a customer knows where they sit in the sales pipeline.
  • The customer experience is optimized. Each employee knows from the CRM records what the customer needs. They can deliver up-to-date information on the state of the product or service without delays or having to call the customer back. A CRM creates a well-informed team, which translates into superb customer service, a more efficient business, and a better reputation in the marketplace.

Create Customer Loyalty Programs

  • Creating loyalty is critical to retaining customers as repeat buyers. The cost of marketing to existing customers is much lower than converting new ones, and a CRM can help you foster customer loyalty. Long-term customers are also an excellent source of promotional material in terms of glowing testimonials and reviews.
  • A good CRM creates a straightforward system where you can measure customer loyalty. You can use this information to ensure your new customers are just as delighted with your service and will keep coming back.

Segment Your Customers into Groups

  • Not all customers will use your business for the same reason. Some will like the speedy service; others will keep the relationship going because they enjoy the personalized experience.
  • You may also deal with different groups from all walks of society, including students, entire companies, individuals, VIPs, or wholesalers. It’s much more efficient to manage your customer base if you group them into market segments because you can:
    •  Improve products and services for specific groups
    •  Analyze the performance of a segment separate from your entire customer base
    •  Create more focused marketing messages based on the segment
  • Let’s say your data reveals a dip in sales performance for the month. A segmented customer base will provide analytical data that will make it a lot easier to spot where the problem lies than a non-segmented customer base.
  • Suppose students make up a large portion of your customers. It may be that a vacation period is responsible for the reversal, rather than it being a sales or marketing team performance issue. Segmented lists can also ramp up your ability to accurately predict a potential sales slump. When you can see a problem looming on the horizon, you can then take steps to implement a strategy that will lessen its impact and improve your results.

You Can Customize Your Promotions

  • Another advantage that can stem from the segmented customer base discussed above is that you can also customize your promotions and offers to appeal to a specific demographic.
  • When you can analyze your customers’ behaviors through the CRM, you will gain a deeper understanding of their needs, pain points, and desires.
  • The sales team will then create a stronger connection with the customers by treating them as unique individuals and delivering more personalized service.
  • You can offer your most valued customers steeper discounts or add extra value to their orders to keep them coming back. Happy customers are also quick to point out a company that provides excellent service to people they know, which will help attract even more business.
  • Customized promotions will also save your marketing budget, as you will only be sending out relevant offers to highly qualified prospects.

Improve Your Sales Funnel

  • The benefits of managing your existing customer base through a CRM are obvious, but it can also help with prospecting and customer acquisition.
  • CRM helps you identify customers who could provide genuine testimonials or make highly qualified referrals.
  • The latest figures show that 96% [*https://www.business2community.com/inbound-marketing/10-eye-opening-statistics-on-lead-nurturing-in-2019-02203965] of your visitors arrive out of curiosity and have no intention of making a purchase.
  • Your CRM tracks activities, communications, and other activities to allow you to identify and prioritize high-quality targets who are most likely to close.

Maintain a Personalized Service in a Fast-Moving Market

  • Today’s digital economy moves at a more rapid pace than traditional businesses could hope to maintain. Things are only set to move faster as the Internet of Things (IoT), and Machine-to-Machine communication achieves widespread adoption.

  • Online purchases happen instantly, which means every business will need a customer management solution that can keep up. Despite online commerce growing every year, your customers still demand excellent service with a personal touch.

  • By converting to a streamlined, automated system for tracking customer activity, every business will be able to deliver the personalized service its customers expect. The CRM is not designed to replace your customer relationship model completely. Instead, it is created to integrate as seamlessly as possible while upgrading and streamlining your existing systems.

Support More Customers At a Lower Cost

  • A CRM provides near-instant record access for every customer on file. Administration tasks are simplified and reduced, and information is synchronized instantly with all teams across your company.
  • Therefore, maintaining a personalized relationship with your loyal customers is much more cost-effective with CRM. The more you can reduce the cost of maintaining your customer relationships, the more profit you can squeeze out of every transaction.
  • As you can see, a CRM delivers a cost-effective solution that will pay for itself many times over in a few short months. Your new CRM will help you boost productivity, close more deals, retain loyal customers, and improve business relationships.

Altheasuite a powerful Inventory Management solution also offers a full-featured CRM and more, that will help you scale your business with a system that works on all modern browsers to keep costs down, and is also easy and intuitive to learn. 

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