A well-planned CRM based customer strategy drives significant competitive advantage and bottom-line results for your organization as it caters to the focus of every successful business i.e. customers. In order to excel in this diverse business environment, organizations are bound to follow a strong customer strategy that maps an effective operational plan for the organization and helps businesses in setting their prime focus on most meaningful aspects in all the three key directions i.e. sales, marketing, and Support. CRM plays a significant role in this regard and supports companies to deliver great customer experience in all the three wings of customer engagement i.e. Sales Force Management, Marketing Automation and Customer Service and Support.
There are many advantages of having well-planned customer strategy. Three of which are given below:
1. Increased Revenue:
CRM based customer strategy improves revenue streams for the organization by enabling better visibility into potential customers’ profile, efficient segmentation of customers, deriving referrals from contented customers and boosting conversion rate of prospects into customers. For all these factors, CRM plays a key role that gathers customer/prospect related information from multiple sources say web to lead form, Facebook, twitter, LinkedIn or other social media fronts and organizes data at single unified interface that is shared with all employees across the organization. The available customer base is then segmented into different categories made on the basis of either value or probability of deal closure within the sales pipeline. The whole process diminishes the effort of organizing data and opens up more cross-selling possibilities with a single contact point hence boosts revenue.
2. Reduced Operational Cost:
This is an admitted fact that CRM is a great tool used to reduce the overall operational cost of a business by amplifying productivity of employees and rendering them with assistive tools that automate the half of their tasks. CRM’s dashboards help employees in multiple ways: let it be managing the queries, orders, or self-performance and schedule, CRM is active everywhere facilitating employees close orders at a faster pace with improved request handling made for information and leads. Another asset of CRM is the monitoring system that not only provides self-assessment platform but also enable managers to look into the performance of each employee against their set targets. Additionally, CRM comprises a scheduler system which entangles automatic compilation of “to-do list” and notification system that conjointly ensures that every sale lead is paid substantial attention and is followed-up in time. All these facilities are packed in one user-friendly software named CRM.
2. Improved Customer Service and Customer Retention:
The core of every CRM solution is the Customer and introducing CRM strategy for improved customer service and customer retention is synonym to a successful and ever-growing business. Linked with the above-mentioned leverages of CRM, the customer relationship management tool helps deliver personalized and customer oriented service to clientele that automatically exalts the organization’s repute in the customer’s eye. It also liberates companies to extend customer service to social media strategy and help them cater every single voice raised for their support and service while ensuring consistent customer service across all platforms and channels. CRM’s dynamic tools help in all these dimensions and offer a knowledgebase to store solutions of problems regarding the product. This way, CRM shortens the response time for subsequent support calls while improving customer service that leads to customer retention and customer loyalty.