Home > CRM Discussions, CRM software > What are Advantages of using a CRM?

What are Advantages of using a CRM?

Following are the points listed during a recently held CRM related discussion on Linkedin’s CRM Experts group. I am very thankful to all the participants. Hereby am requesting visitors/crm-experts to further elaborate the post by commenting.

  1. Control
    1. IT automates the customer engagement process or your marketing activity.
    2. control them by way of providing purchasing influence and an easy way to access and purchase our products.
    3. Streamlined sales and marketing processes
    4. Higher sales productivity
      1. Higher overall profitability
      2. In Lead to purchase stage: Your CRM must identify first of all, when is average customer expected to buy. Once you find that out, it must identify at what purchase stage customer is. By identifying this, you can fine tune and send your lead nurturing campaigns, which can assist customers to make purchase decision quickly.
      3. In purchase to next purchase stage:
        1. Your CRM must identify when is average customer expected make next (second) purchase.
        2. Send product consumption email series, so that customer is able to consume your product or service completely. Make your customers aware of different features and how he can use your product effectively to get maximum ROI. This will help you to go to next level to offer your next product or next level of service or upgrade.
        3. Next product selling: Based on average customer’s next purchase time, build platform for the next product and with fine tuned message, help them to go for the next right product or service option.
        4. Manage complaint behavior: What kind of customers complaining what and where are they from. After how many and what kind of complaints, customers are likely to leave your service or not to buy next product – Your CRM should be able to deliver this information.
    5. Added cross-selling and up-selling
    6. Improved service, loyalty, and retention
    7. Increased call center efficiency
    8. Higher close rates
    9. Reduced expenses
    10. Increased market share
    11. Development of orgainization, process, IT and measurement (customer value,customer satisfaction, sales [up-sell/cross sell]) to support customer relationship.
    12. In a nutshell, using CRM will help you on operational side (same image for all users, sales & marketing automation… )
    13. Close loop between Marketing and Sales
  2. Understanding
    1. Understand customers analyzing data.
      1. Measurement is a key tool for engagement. What gets measured gets done.
      2. Sharing relationship intelligence, titbits of conversations, new leads past one.
      3. Be able to have a really good approach of sales forecast
    2. CRM solution can give you a real insight into who is in contact with your company.
    3. It can tell you the types of company you work with, the size and the type of people you are dealing with within it.
    4. It can tell you about the products you sell to each company – how regular their buying pattern, whether price or service is their key to future purchases.
    5. Business Intelligence from the Customer
    6. Segmentation, Targeting, Profiling, etc.
    7. Understand the interaction/transaction with your customer as well as identify the best ways to communicate (e-mail, direct mail, phone, etc.)
    8. it can help you to understand your business better (analytical) and/or it can enhance relations between concerned if it is made “collaborative”
    9. Understanding the customer needs, desires, concerns, and what they expect from the service/product provider.
      1. i.    Customers can assist, to some degree, with the transformational change(s) that may need to take place in the company.
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  1. jodie_microsoft_smb
    November 2, 2010 at 11:38 AM

    Something to add is Internet Marketing – you can track and manage your efforts, route leads to a lead-staging area and create landing pages on website. There are templates for bulk and direct e-mail and built-in reporting to track campaign indicators. This link has more details: http://smb.ms/Outreach9jiD7B

    Regards,
    Jodi E.
    Microsoft SMB Outreach Team
    msftoft@microsoft.com

  1. February 23, 2011 at 6:46 AM

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