In this super competitive era, every enterprise strives to keep the existing consumers happy along with achieving growth by adding new ones. Plus, firms also need to focus on adhering to the data regulations and technology needs. Thus, the customer relationship management (CRM) application/software solution has become an essential part of almost every business around the world. Here’s how the application helps in customer relations and acquisition.
Increasing revenue by managing the existing clients in a better way
As the full-form of CRM suggests, the software solution helps to fulfill attention-demanding responsibilities like managing customer interaction, tracking consumer activity, understanding their interests, and storing other records as per data protection policies of various nations.
Customer acquisition and management experts have already proved that the cost incurred in acquiring new consumers is seven times greater compared to what firms need to spend on retaining existing ones. Failure in keeping clients glued is something that companies cannot afford these days.
Acquiring new consumers involves spending thousands of dollars on digital marketing and ads. However, companies can quickly reduce the marketing spend if they manage to nurture and retain the existing clients with the help of a configurable CRM. It greatly assists in building a strong relationship with existing clients because records created by the software help in knowing what the customer wants and when. The application developed by a reputed crm development company also allows relationship managers to categorize consumers according to their interests.
Relationship managers remain better equipped with information
When a consumer visits a website and browses various sections, the advanced CRM system tracks the page visits and inquiries. Similarly, the software user-interface for customer care executives also allows the team members to mark products and services that the caller seemed interested in knowing about during the conversation. The data about the products that the prospect has shown interest in buying is sent to the sales team by the CRM. A follow-up call or email is sent to the customer within a selected time frame. Doing this helps in increasing sales.
When a prospect or existing customer calls the customer care, the CRM pop-up offers complete details to the respondent. Access to such information makes customer engagement easy for relationship managers. It helps in personalizing the conversation. The system not only helps in maintaining the relationship but also helps to target existing customers with correct products.
Plays a crucial role in processing sales leads
A prospect that shows interest in products online can be easily converted into a customer if the lead is followed up sooner. But unfortunately, according to a study published by the Forbes Magazine, only seven percent of the companies from around the world manage to revert on web leads within one hour. The same research pointed out that 71 percent of the enterprises take as much as 47 hours to get in touch with people who had shown interest in their products.
Advanced CRM gathers all the data and prompts the sales team with pop-up notifications within the selected time-frame. Such proper lead management also ensures that prospects get attended on time and do not get bombarded with unnecessary calls, emails.
Helps in securely organizing consumer data
CRM can easily integrate with multiple sales and back-office systems. It saves several hours worth of work by securely organizing data. Administrators can issue data access to authorized employees so that they can check the required data on computers as well as smartphones. As the consumer relationship software divides work and responsibilities automatically, it also helps in making people in the organization more accountable.
Associates can access the data anytime and from anywhere. These features perfectly suit the needs of the current business environment.
No need to worry about data protection
Installing CRM means you can stop worrying and spending excess resources and infrastructure on IT. Cloud-hosted CRM systems do not store data on hard-drive or local servers. Data backups are created every minute. So, you don’t have to worry if even if the organization’s laptop gets stolen. The software solutions comply with various data protection acts (including GDPR) from around the world. Most of the crm development vendors also offer solutions to integrate the new relationship management software with existing systems.
Solutions can be customized to meet your business needs
From the food industry to finance, almost all small and large organizations have adopted some of the other business management application to make things easy.
CRM software does not mean solutions developed by just Oracle Corporation, Verint Systems, Zendesk, SAP SE, and Salesforce. Several smaller players develop industry-specific, affordable niche applications that can be customized as per business needs. You can select a reputed local crm software development company and expect the same high standards in their products.