For many–if not most–companies, the bottom line is about customers. Customers bring in profit, and when they feel ignored or under-valued, it's bad for business. That's why customer relationship management (CRM) software is some businesses' most valuable asset.
CRM software uses a dashboard, along with analytics and reporting tools, to accumulate and display a comprehensive collection of customer data. It's a big step up from a basket full of business cards or an excel spreadsheet to keep track of clients and leads.
4 Reasons a CRM Makes Good Business Sense
- Organized Contacts: Keep track of contact information, order history, and any other important information in one place, typically a customer experience cloud. Separate current customers from possible clients and warm leads in order to tone conversations appropriately.
- Archive Conversations: The entire history of a customer's interactions with your company should be stored and easily accessible for everyone from a receptionist to CEO. Correspondence should be saved in the CRM system, not an individual employee's mailbox. If an employee leaves the company, their experience with a particular client won't leave with them, as it will be archived in the customer experience cloud.
- Increase Sales Possibilities: CRM software
makeit possible to stay on top of leads in an effective way. Companies can track buying patterns leading to overall better marketing campaigns. For example, advertising to current clients when a new product or service is available that relates to their past purchases capitalizes on existing relationships, rather than always relying on new ones. CRM software can also act as sales rep management, tracking who is focusing on which lead and closing which sale. This results in more precise planning for the sales team as well as task tracking for management.
- Streamline Customer Service: Perhaps most obviously, CRM software benefits companies by making customers feel known and important. By having all information and conversations easily organized and accessible across the organization, every interaction with customers can be smooth and up-to-date. Every employee is aware of the customer's details, last purchase, recent complaints, or required next steps. With this knowledge, employees can proactively anticipate needs and problem-solve, continuing to build a relationship with each individual client.