CRM is an acronym for customer relationship management, and there are two main strands, one that focuses on systems and the other marketing. In this blog, we’ll be focusing on CRM software.
CRM software stores, tracks and organises customer interactions with businesses to optimise customer experience, sales and overall processes. CRM software is what your business needs from the very beginning.
CRM allows you to better understand your existing and potential customers by tracking their behaviour via websites, emails and social media platforms. It also helps by guiding them through the purchasing process and notifying the business of repeat or new interest. This means customers can enjoy straightforward and easy shopping experiences whilst businesses can deliver tailored marketing and encourage more sales.
Interesting, isn’t it? Let’s dive into more CRM system benefits.
The benefits of CRM software
- Improved customer service
The most important benefit that CRM offers is improving business-customer relationships. It improves it by automatically filing customer details such as messages and purchase history, and demographics. So, no matter who needs this information within your company, it can be easily located, ensuring excellent customer service and customer satisfaction.
- Boosted sales
With all customer and sales information in one centralised place, CRM can help your business create a strong sales channel, automate important messaging and analyse data. By doing so, you can be aware of issues early on meaning that problems can be ironed out quickly, allowing you to tweak as you go to keep customers happy and boost sales.
- Higher customer retention
A customer purchase doesn’t guarantee customer loyalty, but CRM can help. CRM can prevent high customer turnover and ensure stable revenue and cash flow by using the vital data it has collected to learn about customers and what encourages repeat sales.
- Important metrics
Having metrics is great but what’s most important is to know what you can do with these metrics. Most CRM software can contextualise data and group it into easy-to-understand items that can be turned into actionable tasks, which will allow you to optimise click-through rates, purchases, campaigns and customer experience.
- Boost in productivity and efficiency
CRM can automate emails which can be scheduled or triggered via a customer's actions – also known as drip campaigns. What’s brilliant about this drip campaign method is that they can nurture leads whilst employees can spend their time focusing on tasks that can’t be automated and tailoring content to enhance the customer experience.
- Information all in one place
With CRM software, everything is in one place, making it quick and easy to access information throughout the entire business. And with information so simple to find, it allows your customer service teams to assist customers efficiently, ensuring a positive customer experience that saves time for both the customer and your business. What’s more, all customer notes can be added to the CRM system which means you can keep interaction records, so no matter which customer service team a customer speaks to, they can see the account history and pick up where someone else left off.
Simple customer segmentation
What’s important about automated emails is that you can learn more about customer interaction and gain valuable insights into their individual preferences. By understanding each customer better, blanket emails needn’t be sent to every customer’s inbox; instead, emails reflecting their most recent activity can. For example, customers that have been abandoning carts or viewing items repeatedly can be remarketed to using discounts, sales and incentives to encourage conversions.
- Automated reports
CRM has reporting features which makes it easy to analyse employee performance and project progress. It can also categorise customer actions, to see what stage they’re at in the purchase journey – which can help you to react with marketing strategies to encourage sales.
- Simplified internal collaboration
As well as assisting businesses with personalised client communication, CRM also facilitates communication between employees, which makes it easier to keep to one tone of voice. It also means that the team can communicate efficiently using one platform - whether that’s through email, notes and tag - so that everyone can stay in the loop and reduce resolution time.
Make CRM software your new best friend
Want to talk about CRM systems? Contact our friendly team at Diversity Creative – we'd love to help!
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Written by Lucinda Batchelor