CRM or Customers Relations Management (CRM) is an organization’s strategy for managing relationships and interactions with customers or buyer prospects. Through this, companies can gather all customer data in real-time. As a result, the responsible departments such as sales, marketing, and customer service can coordinate and analyze these data and information for better customer support. The company’s management cannot ignore the critical role of this system because it can help affect revenue. This is because the more optimized the business processes are, the more customers will experience high-quality services. Therefore, you can ensure that customers will keep availing your service and come back for more.
The customer-centric approach of CRM in business increases productivity and improves the internal processes of the organization. Not only that, it allows businesses to improve their sales. According to a report by Gartner, CRM software purchases worldwide grew by 15.6% in 2018, which is equivalent to USD 48.2 billion. It also continues to top the most used enterprise application category. This indicates that a lot more companies are now using it to assist in their business growth. Moreover, the spending is driven by the company’s agility and flexibility as well as the need for remote and mobile users.
In China, the market size of Cloud CRM reached an estimated RMB 1.85 billion in 2019. This only signifies a growing necessity for customer management strategy in China. Furthermore, having a CRM software with a Cloud solution will only open doors to more leads and sales.
Benefits of CRM software
Automation and efficiency
CRM establishes constant relations with your customers by sending automated, personalized email campaigns, letters or customized gifts, thus, giving them the sense of a relationship. You can also automatically capture customer’s feedback, complains and suggestions, thus improving your customer service response time. Furthermore, automation will speed up operational and analytical processes for your sales, marketing, and service team. The huge amount of customer data gathered in one place also enables the application of AI, so that you can learn about your customers more deeply. It gives your team members the chance to understand customer’s behavior and help each department strategize for boosting sales.
Customer satisfaction and team collaboration
CRM allows businesses to streamline and simplify customer interactions in order to monitor and increase customer satisfaction. But most importantly, it allows team members to collaborate and share organized information which is necessary for customer-centered planning and development.
CRM’s analytical tracking tool can also provide real-time data for understanding market trends and customer’s desires. When you know your customer’s needs and wants, it is easier to provide satisfaction, hence, maintaining loyalty.
On the other hand, CRM software’s tracking ability can also give an insight into your potential customer leads and cater to your business strategy to meet their needs.
Employee management and control
CRM does not only contain customer relations functions. It also offers task management concerning you and your employees. It is best to maintain visibility in the workplace to keep control of your overall business operations.
The right tool for you
CRM may be an all-encompassing tool for every customer-related solution. But getting CRM without considering what your business needs can lessen its usability and purpose. For this reason, it is important to know what CRM software works for your location and what tools specifically fit not only your customers’ needs but yours as well.
The key to this is customizing the integration of the right tools for your business. If you want to get an idea of how you can customize your CRM, get in touch with our team and we will provide you with the CRM tools you need to optimize your business operations.
You can also check out Kwikdroid, our newly launched Cloud-based company management and accounting solution for any type of business in China.