CRM Course

Advantages of Customer
Relationship Management
Customer Relationship Management, or CRM, is nothing new. The technology
surrounding customer relationship management may have changed, but the
goal of making a sale and keeping a client has not. At its core, CRM is all about
merging marketing efforts with business processes to be able to identify,
pursue and manage valuable customer relationships.
Its about knowing and understanding your customers buying habits and
preferences so that you can place yourself squarely at the point of sale and
about supporting those same customers after the sales transaction is
completely done.
There are so many reasons to implement a CRM system, but the most
beneficial reasons are identified as...

Improved Customer Experience

Customers in modern era, expect a customized, streamlined experience from
beginning to end. They want you to know who they are and to have what they
need, without transferring the call and without keeping them waiting.
A customer relationship management system will enable you to quickly
identify your customers, address their primary needs, and subsequently
recommend additional products or services that match their profile. It gives
your staff the ability to recognize who theyre dealing with from the very
beginning, making them more efficient and more productive. Customers, in
turn, enjoy better customer service with fewer hassles.

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Focused Marketing Efforts

CRM solutions provide you with a complete picture of your sales pipeline, as
well as your existing customers. With that information and data in hand, you
can identify and target individuals with the greatest potential for future sales.
Rather than taking the mass marketing approach, CRM allows you to focus
and fine tune your marketing efforts to make those efforts more productive.
That saves you money because you arent expending resources on individuals
who ultimately will not become customers.

Increase customer revenues

By using a CRM strategy for your business, you will be able to increase the
revenue of your company to a great extent. Using the data collected, you will
be able to popularize marketing campaigns in a more effective way. With the
help of CRM system and/or software, you can ensure that the product
promotions reach a different and brand new set of customers and not the ones
who had already purchased your product and thus you effectively increase
your customer revenue.

Maximize upselling and cross selling

A CRM system allows upselling which is the practice of giving customers
premium products that fall in the same category of their purchase.
The strategy also facilitates cross selling, which is the practice of offering
complementary products to customers on the basis of their previous
purchases. This is done by interacting with the customers and getting an idea
about their wants, needs and patterns of purchase. The details, thus obtained
will be stored in a central database, which is accessible to all company
executives. So, when an opportunity is spotted, the executives can promote
their products to the customers for maximizing upselling and cross selling.

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Reporting & Automated Analysis

The benefit of customer relationship management applications is that they
handle that piece of the marketing puzzle for you where you dont have time
to track and analyze the buying habits of every last customer.
Because your customer and sales information is housed in one place, you have
automatic access to a full range of reports on which products or services are
selling and whos buying them. You gain a clearer picture of the sales pipeline
itself
How is it working?
Where are the snags?
Which staff member is the most productive?
A CRMs centralized information system gives you powerful analytic and
reporting tools that would be hard to replicate in a systems without CRM.

Better Coordination and Cooperation with more

administrative support
When sales, marketing, and customer services share a common CRM
platform, they can speak the same language with one another. Rather than
being separated by systems functionality or access to key information,
departments across the organization can function more cohesively. Suddenly,
they have what they need to work as a single unit. They know what the goals
are and how to attain them. A customer relationship management system can
manage day-to-day administrative tasks for you, giving your sales team the
chance to get back to good & well selling.