The term CRM is commonly overused in the business world along with terms such as "CEO" and "ROI." While most companies would acknowledge their familiarity with the acronym being short for Customer Relationship Management, some might admit that awareness is limited to the basics of what a CRM is versus what it actually does. In this blog, we've gone beyond what the CRM acronym stands for. We've provided information on how your organization can choose a CRM system that accommodates your unique operations.
Customer Relationship Management is the process of managing prospect and customer engagements while leveraging those engagements to maximize revenue. The best CRM solutions allow multiple users to engage and cultivate customer relationships using an on-site or cloud-based software solution that tracks and analyzes interactions between the company and the consumer.
Ideally, the most competitive companies strive to achieve a 360o view of customer relationships to identify initial or continued sales opportunities. As a result, data derived from a CRM can be mined and utilized to boost sales.
Perhaps the most compelling reason companies choose CRM software is to keep track of customer engagements to ensure that those engagements lead to worthwhile outcomes. It's wise to obtain insights regarding your customer's activity that also affect your marketing initiatives, sales visits, event interactions, and more. But engagement is only the beginning of a robust CRM system. Here are some others:
Highly competitive companies know that customers desire relationships with the brands they buy from. No longer do customers want to be treated like a number; they want answers to questions and solutions that resolve their pain points.
The close engagement approach not only resonates with account-based marketing customers but the approach is also essential to non-enterprise customers who want their time and effort acknowledged.
A robust CRM solution enables companies to gain insights into consumer behaviors and expectations. As a result, sales staff can engage customers right where they are, answering meaningful questions based on the information gathered within their CRM system.
A CRM's historical and trend data can prove extremely useful to a company and its sales team. A capable CRM captures everything from conversations, frequency and topics of phone calls, number of website visits, pages visited, email interactions, and marketing funnel touchpoints.
Given these insights, your sales team can better anticipate the needs of your target audience and have solutions ready – even before customers reach out.
Many companies, especially manufacturing and software solution providers, require efficient production processes and enhanced quality controls. The slightest inconsistency in a solution can result in unsatisfied customers and lost revenue.
A CRM system can help a company tightly integrate its production with customer feedback, ensuring potential problems are identified prior to delivery.
In addition to ensuring that quality products are delivered to deserving customers, a company's CRM can also help manage the organization's inventory. Whether integrated with or a separate component of a capable ERP solution, CRM data can feed information and analyses into a company's manufacturing or development processes, helping managers remain prepared for upcoming purchases.
While a robust CRM solution can significantly help transform how companies engage and manage customers, there are common mistakes companies should avoid when choosing a CRM.
It may sound simple, but many companies don't identify their objectives before choosing a CRM. Without a clear understanding of the goals you're trying to achieve, your company can quickly end up with a solution that doesn't meet your needs.
A CRM can be a dynamic tool used by staff to enhance customer engagement and maximize revenue. Without understanding how a CRM should work in conjunction with a sales strategy, you may end up with a solution incompatible with how your organization sells. Companies must develop and solidify their sales strategy first, then choose the right CRM that fits best with that strategy.
When choosing a CRM solution, it's essential to know that one size does not fit all. You must know your preferences regarding deal management, automation, notifications, contact management, sales pipelines, and integration before settling on a system.
Choosing a CRM can be segmented into two general steps:
Whether the users include sales teams, marketers, administrators, product developers, or others, they must be trained on the system. Also, keep in mind that not every user requires access to every possible feature. For users to master their CRM roles properly, training must be incorporated during initial use and during upgrades. Training should cover data gathering, data analysis, reporting, communication, collaboration, and integration.
After considering the information above, it's time to choose the right CRM for your organization. There are six general steps companies should keep in mind when making their CRM selection. They are as follows:
While choosing the right CRM solution for your business is not rocket science, following a defined process can help you choose the one that's right for your organization. At Blytheco, we help you access multiple CRM solutions on the market by offering consulting services, handling implementations, providing ongoing support, and above all else, prioritizing your company's CRM standards.
Contact us today and inquire about our demonstrations. We're here to help you in your search to find the best CRM solution for your unique business needs.
Alyssa Futterer, Senior Marketing Technology Manager at Blytheco, has over 12 years of digital, communications and content marketing experience with 5 years in software tech specializing in the ERP, EDI, and SaaS space. Alyssa leverages her relevant experience to create content that educates and informs customers and industry professionals, and helps to improve their businesses through innovative software technologies. Connect with Alyssa on Linkedin.
