What is CRM? Why CRM is important to your business?
Updated: Nov 28, 2019
CRM stands for Customer Relationship Management (Vietsub). A Customer Relationship Management strategy is designed to focus on improving revenues and profitability, managing company's interaction with potential customer and increasing customer loyalty.
In fact, ineffective customer relationship management is a common problem of many enterprises. It would lead to some consequences such as: Time and initial productivity cost, security and data protection issues with centralized data, etc..
So, Why CRM is important to your business? There are many benefits brought by right CRM strategies:
1. Identify and categorize leads:
By using CRM, leads can be added and identified easily and quickly, then, they will be categorized accurately. Each group of customer needs to have different treatment. An effective CRM system helps managers focus on the right leads, sales can prioritize the opportunities that will close deals and Marketing can create suitable campaign for them.
For example, customers could be added in group based on demographic, purchasing habits, using services frequency, etc.. , which plays an important role in creating marketing campaigns, sending messages or promotion programs.
2. Increasing referrals of existing customers:
Base on the better understanding of customers, sales will have more opportunities in cross-selling and upselling. Besides, managers can follow up the customer's needs to improve their experience by keeping them happy with better service.
A CRM system helps speed-up processes, enabling employees to deal with more queries and providing a generally better customer experience. Happy customers could bring many benefits to company such as: positive word-of-mouth, recommendation, etc..
3. Improving analytical data and reporting:
Customer information is stored in one place by CRM systems that improving data analytic. Moreover, CRM system can easily integrated with different tools or plugins which allow you to generate automatic reports. Users can personalize their dashboard views to quickly locate, search, summarize information. Better reporting data would help managers make resourceful and effective decisions to carry out customer loyalty program and long-term strategies.
Your customers are the most important part of your business, and keeping them happy should be your top priority. CRM system could be an effective tool for every enterprises in boosting customer experience and satisfaction that we should take all advantages of it. The CRM process shouldn’t be about working harder but about working smarter, so that your customers get what they want — and you do, too.