One of the most vital functions of any business is a Customer Relationship Management system. The kind of relationship a company shares with its customers defines its growth and success. Having this in mind it is therefore more profitable for any company to keep existing customers than to go out looking for new ones.
The CRM concept is based on creating and developing relationships with customers in order to improve customer fulfillment and maximize profits. However having a customer relationship management software in place does not necessarily mean that the company will not run into losses.
Having a Customer Relationship Management system that is well structured provides a company with an upper edge when it comes to capitalizing on the leads accumulated by the sales force.
It is highly crucial for all businesses to choose a suitable CRM solution for their individual business needs, considering that no CRM software is equal. Some CRM tools may be tailor made for small to medium sized businesses, while others may be created having large corporates in mind.
The most common CRM-related questions
- How true is it that CRM is for the sales department only?
CRM in its initial stages began as a simple contact database to help sales people track prospects and leads. Over the last decade this has changed and the CRM system now comprises nearly all business functions.
- Effectiveness of CRM on sales?
CRM was originally created as a tool for sales teams. A good CRM system enables the sales department to implement processes and check that all vital sales data are being followed. This is achieved by targeting customers, managing appointments, contact databases, producing quotations and generating reports.
- Usefulness of CRM in Management?
Customers don’t just talk to your sales or customer service personnel – they may occasionally also deal with your accounts department and, in the case of complaints, they may need to talk to supervisors, managers or even directors.
A CRM system which records every interaction between the company and its customers ensures that whoever talks to customers has all the information they need at hand, providing prompt and accurate feedback on questions or information being sought after.
- CRM on delivery
A CRM system is effective and useful in whatever niche of business one is in and ensures that the delivery staff can see exactly what the customer wants and when they want it, and also allows them to feed useful information back to the sales team which could result in increased business.
- After sales service on CRM
Taking care of customers after they’ve bought your products is a vital part of the CRM concept, and for many companies, mainly in the service industry, this is where the majority of communications with customers takes place.
A CRM system will help your customer service team to continually monitor customer relationships, and make you more money by helping them identify further sales opportunities
In conclusion there are immense benefits of incorporating CRM to your business and at Royce Technologies we pride ourselves in supporting you in putting together an action plan for a successful CRM implementation. Whether you have already implemented CRM or are still considering its benefits and impact to your organization.