Benefits of CRM
Improves Customer Service
CRM manages all your contacts and aggregates lead and customer information to build profiles of everyone you interact with. This gives you easy access to important information on customer behavior like purchase records and previous communications with contacts across different channels (social media, chat, email, etc.). Customers won’t have to repeat their stories over and over to you, and you’ll be able to address issues with best practice and less effort for improved customer loyalty.
Increase in Sales
Streamlining and improving the sales process, building a sales pipeline, automating tasks, and analyzing your sales data will inevitably lead to one outcome—increased sales and sales productivity. CRM allows you to have all your customer-facing voice, chat, social media, and email touchpoints accessible in one place. You’ll clinch more deals by building a repeatable, proven sales process, and delivering the right message on the right channel at just the right time.
Retain More Customers
Retention and churn rates are extremely important determiners for a company’s success; customer churn is a major obstacle to business growth. CRM tools like sentiment analysis, automated ticketing, and customer support and customer service automation can dramatically improve your retention by letting human agents defuse problems. Analytics tools that look at customer life cycle can show you when churn happens and why, so you can identify and address pain points.
Analytical CRM tools make your data available, intelligible, and relevant to your business needs. All your heaps of sales data, finance data, and marketing data flow into CRM to become visible metrics, with data warehousing and data mining there to make sense of everything. The net benefit is customer acquisition, customer retention, and better data management.
Having all your major day-to-day business functions in one place makes for better workflow, easier collaboration between team members, and better project management. Task automation eliminates menial, repetitive work and gives more time for the cognitive tasks humans are best at. Dashboards and analytics will help you gain insights into your work and optimize all kinds of business processes.
Better knowledge sharing
Miscommunication and lack of information transfer are two major time-wasters. When people take time self-learning to do things other team members already know how to do, or work on redundant tasks, you’re losing a lot of hours per week. Collaborative CRM tools can streamline your teamwork by letting you build a knowledge base, establish best practice workflows, and allowing for frictionless communication between team members.
CRM allows you to foster greater transparency in your organization by assigning tasks, showing work, and delineating exactly who is who and who is doing what. If your main concern is sales, you can make use of performance tracking for individual sales agents. CRM allows everyone in your organization to gain visibility on your business processes, fostering more mutual understanding and collaboration.