Technology is shaping the new customer
The explosion of digital and mobile technology has given rise to a new age customer who is well-informed, aware, assertive choosy and enjoys a free hand to share, post, write and tweet their experiences anywhere and anytime. All this has also enhanced the Customer Relationship Management (CRM) tool to the level where it enables to have a deeper connection with Customer and raise efficiency and enhance customer experiences. The new CRM bridges the gap between industries and customers, strengthens customer relationships and enables customer satisfaction and customer retention.
Here are some insights that will explain why CRM can completely transform the way you do and understand business
Building customer relationships
For many manufacturing companies, the revenue is not generated from one -time sales but comes from long term customer relationships developed over a period of time. Hence personalised engagements with customers are important for nurturing meaningful relationships. Customer relationship management (CRM) comprises of various strategies, activities and technologies that serve as an excellent tool for companies to manage their interaction and communication with current and potential customers.
Restructuring business processes
Manufacturing operations and sales processes must constantly support each other for better outcomes. A CRM system can provide accurate sales data by integrating complete customer information, based on which, manufacturing processes like procuring raw materials, supply chain, and inventory management can be better organised to meet the business requirement. Customised CRMs are also available depending upon the user’s own unique business style.
CRM as a marketing tool
CRM software is a great marketing tool to centralize, simplify, measure, and secure engagement with customers. If a manufacturing company deploys a CRM system successfully, faster and quicker results are achieved. The software is meant for enhanced marketing and selling potential that allows the marketing unit to make elaborate reports in accordance with customer’s behavioural trends. This makes it easier for customer service and support staff to provide immediate assistance to customers and improve the customer experience.
Bringing profitability to the business
The software also helps to improve the product quality, enhance its value and push the operation procedures over time. Most importantly, CRM helps to increase the level of productivity as well as improve different business processes that contribute to industry growth. This streamlines business operations, lowers costs and increases profits.
CRM helps capture all the valuable data into the system thereby saving your sales representatives and managers from the hassle of entering and tracking details manually.
There may be a certain product which will be season specific or area specific. With a CRM application, these can be manufactured on demand and delivered to the customer
Understanding customer insights
From the assimilation of offline and online data, manufacturers can get access to deep customer insights that reflect a customer’s unique preferences and specific needs. These traits can also be tracked in real time so that manufacturers are updated about evolving customer trends which in turn will design and adapt product and service strategies.
Analysing customer expectations
With a powerful CRM in place, companies can gather and synchronize customer information from multiple avenues including, e-mail, mobile apps websites, social media and messaging engagements, e-commerce and in-store purchases, or call centre interactions. This helps to analyse the customer expectations right from initial inquiry to product selection, technical support and service delivery to point of sale and eventually deliver personalised experiences to each customer.
Accurate forecast of sales demand
You can achieve much more in your business if you have an organised system that can predict your customer demand with precision. A versatile CRM system becomes your most indispensable analytical tool that has the potential to provide a clear and real time view of the demand curve and also accurately forecast the sales demand across any time period. Owing to this the production activities are automatically upgraded and fine-tuned thereby saving on time and resulting in on- time delivery of products, zero backlogs, lower inventory and transport costs and greater profits. CRM can also increase cash supply and give timely reports of the probable ebbs and flows in demand.
Improving the product quality
You need to keep churning high quality products to stand out in the competitive market and be on top of your game. Any compromise in quality will not only impact your brand image and sales but will also tell on your customer loyalty and satisfaction and revenue as well. A CRM will help gather and analyse data from multiple sources and assess the critical factors that contribute to product flaws. It thus becomes easier to address and troubleshoot real-time process errors and maintain the quality standard at all times. A CRM system will also keep track of warranty, repair and service issues while managing customer queries and service calls.
Smart supply chain
A manufacturing organisation with a smart supply chain mechanism can do much more to deliver great performances and quicker results. Problems arise when there is a lapse in optimising and simplifying business operations as it can lead to complex and expensive implementation processes. Securing a CRM will increase the efficacy of supply chain management, provide comprehensive insights about operations, maintain supply materials as per the requirement and facilitate fast movement of products from the site to the market.
The fourth industrial revolution is sweeping through manufacturing sector and if your business has to grow and prosper, securing a CRM is the ultimate you could do to drive the best customer experience and stay on top.