CRM is a systematic approach that combines methodologies and technology to help businesses manage their relationships with customers by reducing costs and increase profitability.
Many businesses start with a direct relationship with their customers. As a company expands, business connections grow more complex. It is not a personal relation any more; now the company has many different departments offering distinct products and services, sharing data and information associated with existing and prospective customers.
People, process and technology are the key elements of a CRM initiative.
Employees in your organization create, execute and support integrated customer processes, determining how your business and brand are perceived. The people aspect of a CRM initiative requires a change management strategy to align teams to work toward one common goal: develop great customer relationships.
The process element, involves the need to evaluate, rethink and adjust customer facing business processes in order to create a structure that supports long-term relationships with clients by understanding their needs, and offer value added products and services.
The technology aspect can drive these improved processes to increased efficiency, providing employees with shared, quick and relevant data about your customers.
Since the beginning of trade, companies have required to provide products and services that conform to their promises, differentiate themselves from competitors and encourage customers to return. The implementation of CRM initiatives can help organizations gain insight into their customer’s behavior, strategically sell solutions instead of products and services, and become customer-centric in order to remain competitive in the present economy.
Get closer than ever to your customers. So close that you tell them what they need well before they realize it themselves.
It is not the employer who pays the wages. Employers only handle the money... It is the customer who pays the wages.
Customer relationship management – CRM initiatives help businesses to:
- Acquire a holistic picture of the organization
- Forecast sales
- Analyze customer service satisfaction
- Gain improved understanding of customer issues
- Share customer data between different departments
- Target best business leads
- Segment customers
- Manage marketing campaigns
- Prioritize to better serve the most profitable accounts