Customer Relationship Management or better know simply as CRM enables your business to get instant access to your centralised customer information, including complete histories. CRM solutions also provide the tools to better track sales opportunities and campaign management.
The cost of obtaining new customers is significantly higher then selling more products or services to existing clients. The challenge for many businesses is how to keep accurate and usable information about existing clients. CRM software solutions can provide your business with the tools you need to improve control over your customer data and greatly enhance ongoing relationships. In turn increasing sales opportunities and revenue while increasing customer satisfaction and loyalty.
Understanding CRM Software solutions
CRM solutions are designed to provide single-point access to the collection, storage, access and analysis of information relating to current and prospective customers. A CRM software solution will provide functionality such as contact management, task management, customer service issues and resolution, reporting, campaign management and opportunity analysis.
By providing the single-point of customer information access, a sales opportunity noted by one staff member can be quickly identified by sales force personnel and turned into a profitable sale. In many cases, CRM solutions can integrate with existing accounting software, providing a whole-of-customer view. If a customer calls through to place an order, their credit history can be brought up and a decision made on the spot as to whether the sale should or should not go through.
The business benefits of implementing a CRM software solution that fits your business needs can include:
- the ability to turn sales opportunities into profitable sales
- greater customer satisfaction through tracking and escalating customer support issues
- improved relevance of marketing campaigns to groups of customers
- the ability to gain a whole-of-customer view from within a single application
- enhanced inter and intra team collaboration within the business.
Talk to a CRM software specialist
CRM solutions can range from hundreds of dollars to well into the hundreds of thousands of dollars. It’s a hot topic market right now, and vendors are constantly striving to outdo each other in features and functionality. We strongly advise that you speak to a specialist to ensure you make an informed decision.