What is Customer Relationship Management?
At its core, customer relationship management does exactly what it says on the tin! CRM and CRM solutions are about ensuring there is an open channel of communication for businesses to interact with their customers, share updates and review ongoing projects & contracts.
Do I Really Need Customer Relationship Management?
Most companies have some form of customer relationship management process, the real questions to ask here are, is my current CRM effective? How many man-hours are needed to manage CRM? A good customer relationship usually leads to further sales generation & in many cases business development as a whole! Showing your customer, you can manage them effectively will reflect positively on the management structure of your company.
What is the Importance of Customer Relationship Management?
Customers keep the doors open, unhappy customers might eventually mean unhappy employees. It is the most efficient approach to handling current & potential clients. It also helps to reinforce personal and emotional connections to the people you are dealing with regularly.
How Effective is Customer Relationship Management?
As already mentioned, CRM is one of the strongest ways to maintain a good open channel with your customers. Though there are 1000 different CRM solutions out there, the effectiveness of a system is in the detail. If you know exactly what your customer is looking for and can proactively identify things that will make their experience with you, it is important to have these factored in when looking at CRM as a process & when looking at CRM solutions.
The Foundations of Customer Relationship Management
Marketing & Strategy
It’s all fine and well-having products to sell, but if no one knows they exist or they can’t be found then we have a problem. CRMS help align marketing teams and keep everyone involved in the strategy
Sales & Orders
To most, this is the bread & butter of the company, if you have issues managing sales & orders, those issues will most likely continue through the process
At the end of the day, this is – or should be – the most important KPI to any organisation. Using a CRM, you can actively track quality & look at things like root cause – corrective actions. This will in turn raise customer satisfaction
Service & Support
Tracking metrics related to service & support not only allows you to see trends & proactively inform customers of issues, but it also allows you to gauge internal organization performance