How to Improve Your Business with the Best CRM Strategy

How to Improve Your Business with the Best CRM Strategy

Knowledge is the true power that can transform an industry, market, and ultimately your business. In today’s digital age, this kind of power lays in the hands of those who follow trends, look at market research, and use only the technology proven to support the corporate growth.

So what do statistics have to say? According to Gartner, by 2018, more than 50% of establishments will implement significant changes in their business model in order to improve customer experience. Why? Because in the years to come, customer experience will become the key brand differentiator regarding the price and products.

So far, only two-thirds of all businesses survive at least two years. The Entrepreneur lists cash flow as the number one reason why organizations fail, right next to “inadequate team to work with” in the second place.

But what if there was a way to elevate the customer experience, improve a company’s productivity, and increase the ROI? Well, CRM products will allow you to develop the best strategic approach to expanding operational performance.

What are CRM Systems?

CRM Systems

A Customer Relationship Management (CRM) system is a term that encompasses business strategies, day-to-day practices, and technology in use. The main focus of CRM is reaching your target consumers via more personalized service, designed by learning about their interests.

The business project management products, which descriptions you can find on the following site https://www.bpmonline.com/crm-products, can provide an accurate insight into consumers, automate all of the business processes, and help you engage the target market, retain consumers, and turn leads into sales.

Commonly referred to as CRM software, this powerful tool can align service, marketing, and sales  on a single platform therefore ensuring seamless operation of the organization. The common CRM software features include:

  • 360-degree customer view
  • Collaboration tools
  • Knowledge management
  • Opportunity management
  • Lead management
  • Case management
  • Business process management
  • Document flow automation
  • Mobile CRM
  • Analytics
  • Service catalogue
  • Contact center

That being said, not many know how to exploit all of the benefits CRM system has to offer. But if you wish to learn, here are a few tips for developing impactful CRM strategy for your company.

Collect and Gather Personal Information

Collect and Gather Personal Information

The main function of CRM products is to collect, gather, and store sensitive data of your customers. In other words, CRM records all of the client details such as names, addresses, telephones, emails, social accounts, and entire purchase history from the available open sources. This matters because it helps to improve customer relationships, marketing campaigns, and the company’s culture at the same time.

With better tools and data to work with, the collaboration with both clients and employees enhances. And with a deeper understanding of the audience, a business can pitch the right message through the right channels at the right time.

Use CRM across Various Departments

Use CRM across Various Departments

A leading bpm’online system does more than helping customer service to do their job more efficiently. It also helps the sales and marketing department, HR, and even R&D branch when it comes to developing the next product or service.

The best part is that you can use CRM to train your workforce. Many CRM products offer webinars or video training that can help to bring them closer to CRM tools. Let’s not forget CRM provides analytics, which is quite beneficial for creating surveys customer service can use as an additional support for staying in touch with current trends.

Integrate CRM and Automate Tasks

Automate Tasks

Another beauty of CRM products is in their easy integration and automation of various tasks. CRM systems can be integrated with email and calendar for a quality management of your time and efforts.

Poor time management habits can cause you to lose over $50,000 in revenue per year, whereas daily updates can quickly recover this massive loss. By automating your tasks and using CRM system to receive notifications and updates while keeping track of other important points, the burden of small tasks such as sending reports, dealing with legal issues, and filling out the forms becomes a piece of cake.

This means that you and your business representatives can focus more on closing deals and attracting new leads while the CRM takes care of the rest.

Go Social

Go Social

Since a CRM system can be assimilated with your social media platforms, use this in your favor for turning leads into loyal consumers. Have you taken a look at the social media marketing reports recently? Almost 80% of Americans use Facebook, 51% use Instagram daily, and LinkedIn boasts more than 450 million user profiles.

These networks, along with other social channels are a strong source of information and the best way to spread a positive awareness of your organization. Social media platforms can make or break the business, considering 97% of consumers read online reviews for local business, and 49% of them need to see at least a four-star rating before choosing to use business offerings.

Hence, by refusing to include social media in your marketing strategy, you are missing out on numerous opportunities.

Measure Your Success

Measure Your Success

Some might think that having one large base of information only contributes to confusion and getting lost in the sea of big data. But this  is far from the truth, because CRM products actually contribute to analyzing information as a whole.

To put it simply, in all the chaos, CRM extracts the most important and accurate data via different tools or plugins, giving you only precise reports. With a personalized and user-friendly interactive dashboard, you can quickly locate the sales objectives, customer information, and employee performance reports.

And with all of the info resting safely in your hands, you can make smarter business decisions, exploit untapped market opportunities, and reap prizes of loyal clients and profitability in the long-run.

Conclusion 

There is nothing a quality CRM product can’t do for a thriving brand. The system is affordable, efficient, and for every dollar invested, it returns the favor with an ROI of $5. So when you’re in a dilemma about whether to acquire a CRM or not, just remember that without it, 79% of leads fail to convert.

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