Customer Relationship Management software is used by businesses to manage the company’s interaction and communication with the customers. It helps to access and strategize customer data for better organization.
CRM as a platform is beneficial for establishing connections within departments, from sales and marketing departments to the customers and from customers to the business. This software incorporates SaaS and cloud computing for data storage and accounting, thereby making the entire data available to anyone accessing the internet. You can also check Dixa which is an excellent customer service platform.
However, these data can be restricted for viewing and accessing. CRM helps to improve customer relations in the following five ways:
Accessibility through Dashboard
CRM contains the feature of the dashboard, which is the facia that provides the summary of client data, sales target, and different other tasks and quotas.
- CRM software has a perigon of customer data spread over the dashboard. It has tabs that will signify the tasks to be performed for the day and highlight the clients whom salesforce should contact.
This convenient feature of the dashboard helps the concerned person to see and access all the data in one place. 64.2% of companies rate the CRM tool as very convenient and impactful.
- Dashboard represents all the valuable information for the entire customer base. In Custom CRM Software, there are options for the creation of the client profile. CRM stores all the data related to past purchases, product recommendations, transaction history, orders, and payments.
- Any previous troubleshooting incidents are also recorded in the CRM manually by the customer support executives. All these particulars are paramount for successful market analysis and client relationship management. Almost 74% of the users found that CRM improved the accessibility and management of customer data.
Segmentation and Targeting
The process of segmentation is important to separate a prospective group of customers from a large client base. It helps the business to target and focus on potential leads to generate sales.
- 27% of users feel that CRM is efficient in schedule management. Businesses can easily separate the large audience of customers and prospects into the target group of potential clients. CRM does that segmentation based on certain factors and without human intervention.
- A large amount of customer data can be easily segregated into different categories with respect to different criteria. It helps to create a focussed list, which is used in sales and marketing strategies.
The data can easily be converted into providing personalized recommendations and customer-specific marketing campaigns. 24% of sales personnel are able to achieve targets by utilizing CRM data.
Exceptional and seamless customer service is a priority for all businesses. CRM can help in providing high-quality customer service by reducing the resolution time with efficient troubleshooting solutions suggested by experts.
- 74% of CRM users think that software has increased customer satisfaction. Because of the versatile nature of the CRM, it is easy to store and access sales data. Whenever a client faces issues with the purchased product or services, anyone with access to the CRM data can recognize the product and help to solve the issues.
- keeping a customer is 6 times cheaper than getting a new customer. With the help of this innovative software, companies are going a great job in the segments of customer retention.
CRM helps the salesforce in reminding them of the prior appointments and shared notifications regarding follow up emails or calls. 61% of customers believed that CRM is a mainstream method for tapping their customer base.
Social Media Management
CRM can be integrated with the social media handles of the business to analyze the influence of social media on customer relationships.
- Custom CRM software can be incorporated with social media profiles, such as Facebook, Instagram, Twitter, and LinkedIn for analyzing social media activity with customer interaction. There is a 73% improvement in the business process efficiency as stated by the data of CRM users.
- CRM can efficiently save all the communication with respect to social media profiles or through calls and messages. The data can be accessed regarding all sales activities, projects, live interactions, video and calls, messages, email exchanges, apart from invoicing, order management, payment, and transactions.
- CRM provides a cloud-based and on-premise application for integration with social media profiles. However, 63% of businesses prefer cloud-based CRM over on-premise applications.
Sales Forecasting and Market Research
CRM contains useful data up-to-date from the date of usage. This information system is crucial for the marketing department of any company for market analysis and sales forecasting.
- 13% of companies accept the fact that CRM is one of the top sales priorities and 48% of their employees are heavily utilizing CRM. CRM takes in all the data from the integrated platforms of all the departments. CRM keeps the data organized for sales, marketing, and customer service.
- Companies have improved their investments over data analytics and CRM software, and they are most likely to observe a difference in their sales revenue as compared to the companies lacking behind.
CRM reduces the number of decisions taken by the salesforce on an everyday basis. After utilizing CRM, the sales teams are 81% more productive than before.
CRM can effectively keep the information clean and under a well-managed condition. Businesses should set up an audit trail for tracking the changes made into CRM and keep the accessing feature as limited as possible. Therefore, by utilizing these features, businesses can improve customer relationships with the help of CRM.