Published on: January 30, 2014
Customer relationship management (CRM) software has been around for a while now, and many companies are relying on its insight to improve their customer experiences. We all know that CRM software can help companies leverage crucial data to better understand their customer, but is it really necessary for today’s businesses? Experts are saying yes. The value CRM software can bring to your business far outweighs the cost of investment. As businesses continue to rely on data and analysis to make effective business decisions, CRM will remain a staple in business software.
CRM Hands Businesses the Analytics They Need to Improve the Customer Experience
In the past, CRM was seen as a useful tool but not a necessary tool. Today, companies cannot expect to sufficiently meet their customer’s expectations without it. CRM is the underlying force that shapes business decisions. It pools vast amounts of data related to customer experiences and transactions into a singular system so companies have instant access to the information they need. CRM tools help companies analyze important customer demographic information, purchase methods, transaction history (including time of purchase, amount spent, quantity, and price of products), and purchase history. They can then use this data to market to specific customers based on their past purchases and preferences.
As a business solution, CRM is invaluable. As a data tool, it provides unique insight into seemingly unimportant information. As a business tool, it provides businesses with the ability to customize their product offerings to a large group of customers and deliver highly-targeted marketing campaigns. With CRM software, companies can store valuable customer information so they are always prepared to respond to customer inquiries. This is particularly helpful in the sales and customer service areas where employees need to have information on past purchases and transaction histories. The software can also provide businesses with unique insight into prospective customers and develop unique marketing campaigns geared toward prospects specifically.
CRM Increases Efficiency in the Workplace
CRM is more than an analytical tool; it is a business tool. Companies who use the software on a consistent basis boast of improved efficiency and lowered costs (particularly paper-related costs). By managing customer data in one system, businesses can eliminate the need for lengthy paper files and paper-based processes altogether. Users can access all of the information within the CRM system at any time, reducing process times and increasing productivity rates. When employees don’t have to wait on a response for an inquiry of information, they can complete their job much faster. Customers will respond better, and your productivity levels will soar.
Many businesses also use the software to stay on task with work-related projects, boosting efficiency and effectiveness in the workplace. Managers can monitor the status of a project or marketing campaign and determine the effectiveness of current CRM processes. The software keeps employees productive so the business can proactively meet customer needs.
The necessity of CRM is no longer a question. It’s needed for success in today’s marketplace and can provide you with valuable insight into your customer’s desires and expectations.
Are you using customer relationship management software to boost your customer management efforts? If not, now is the time to consider it. Running your business without it could be costing you more money (and customers) than it would cost to implement the solution. If you’d like to learn more about the value CRM could bring to your business, give one of our CRM experts a call today at (866) 990 – 3994. We’d be more than happy to help you explore your options where CRM is concerned so you can begin managing your customers instead of them managing you.
To learn more about the importance of CRM in today’s business world, download our whitepaper, “The Future of Customer Relationship Management”.