3 Ways CRM Can Make (and Save) You MoneyCRM
Although CRM's primary function is to streamline, organise and facilitate business operations, it is really a way of making and saving businesses money through increased targeting, efficiency and customer satisfaction.
Here are the top three ways in which it could help your business:
Increased customer insight
Businesses tend to collect large amounts of data from customers but never do anything with it, often because it's so disorganised. Customer relationship management programmes make it easy to store up-to-date information in one place.
If a marketer is allowed to analyse data from sales team interactions, they could identify emergent trends. Getting this insight from your own customers instead of second-hand reports has more value to your unique situation. Analysing this information will enable marketers to create campaigns that tap directly into customers' desires to buy and = more sales.
Faster project completion
Co-ordinating groups of people both large and small can be hampered by delays and other unforeseen circumstances. Staff on leave, misplaced messages and different versions of documents leading to communication breakdowns....productivity can be crippled by these events.
Staff using customer relationship programmes in place will find it much easier to co-ordinate their efforts, giving them access to the most recent documents and messages even when working from remote locations. This will reduce product completion time and improve the quality of work produced and = cost savings.
Improved customer satisfaction / loyalty
People buy from people, not from companies. Equipping your sales staff with relevant information about a customer makes it easier for them to strike up a good working relationship, even if they haven't spoken with them previously. Information such as dates of birth, previous products bought etc. can even present opportunities for up-selling related items or gift ideas and = even more sales.
Hopefully the cost and revenue advantages of using CRM in your business will be clearer now. When you are called upon to demonstrate the return on investment (ROI), you can use the above as reference points to help you calculate the appropriate metrics; all important in an economy where every pound spent has to be justified.
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