CRM, also known as customer relationship management, is a form of cloud-based software. This software allows businesses to track and monitor their customer’s purchases and experiences.
In the past, businesses used to manage paper trails of addresses, feedback forms, product purchases and more. Now, thanks to the rise of companies like Salesforce, Keap and Monday, CRM is easier than ever to understand and implement.
Here are five reasons why CRM is absolutely necessary for business growth. We will be going over how it can help level up your customer experience.
1. CRM improves your customer experience
You could probably get by for a period of time without cataloging your customer information. But any business that wants to grow beyond a small handful of customers needs CRM to organize and store their data findings. Cloud-based software make it easier to track and find important client information. Additionally, it also promotes a more personalized, memorable shopping experience.
93% of customers say they are inclined to make repeat purchases from a business who goes above and beyond to provide great customer service. Using CRM, business owners can track and view several things. Such as, past purchases, favorite items, live chat conversations, and email subscribers — all in order to better assist customers in their buying decisions.
2. It identifies systemic weaknesses and problem areas
Every business, no matter how big or small, has weak spots in their customer service framework. CRM shows you where they are and works with you to fill in the gaps.
Beginning with automation and ending with report generation, CRM gives you the opportunity to collect feedback from your customers. This can then be used to make improvements on sales funnels, product design, and online ordering.
Because of CRM’s targeted approach to catagorizing and storing data, businesses can follow the interests of their customers by amending current and upcoming campaigns according to search history, purchase history, age, and even location.
3. CRM allows you to analyze trends and suggest products
There’s nothing worse than surrendering your email address to a business, only to open your inbox the next day to find a drip campaign promising a great deal on a product you’ve never even heard of.
CRM allows businesses to identify patterns in customer purchases. Each email, text, or sales funnel will hit a pre-approved target, every single time. Does your customer have an unpaid item in their cart? CRM will track data to send them a friendly reminder — maybe even with a 15% coupon attached. Is it your customer’s birthday next week? CRM can send them a personalized birthday message and product suggestion based on their latest string of purchases.
By keeping your (digital) finger on the pulse of your customer’s behavior, you can make small, meaningful adjustments to global marketing efforts. This can create a sense of urgency, excitement and brand loyalty.
4. CRM reduces costs
In addition to streamlining your customer experience and recommending targeted products, CRM software helps employers reduce business costs in significant ways. This is done by streamlining multiple administrative tasks into one cohesive format.
Rather than hiring a full-time data analyst, administrator, bookkeeper, and customer service rep, you can upload your entire digital landscape into CRM software. Employees will be granted access to the information they need.
Another form of cost reduction comes from the proactive approach a great CRM system offers: the ability to anticipate a customer’s behavior. By providing customers structured product suggestions and making their user experience easy, you reduce the amount of time, manpower, and logistical headaches that come from fixing a problem due to poor communication or misunderstanding.
5. Allows employees to work from anywhere in the world
The onset of COVID-19 sped up a simple truth many employees already understood. The reality is that most customer service work can be performed from home.
CRM software allows a network of employees to access databases of information without ever being together in one place. Customer files, orders, feedback forms, and service requests are available in a cloud format. Therefore, all data is automatically accessible regardless of where your office is located.
This flexibility enables employers to expand their pool of employees to include global contractors who aren’t bound by proximity to one another, while still being able to provide top-tier service to customers worldwide.
At Goalpost Group, we help our clients break the cycle of bad marketing using strategy, structure, and killer content that drives sales and wins the day. Get in touch with a member of our team to learn more about how we can help transform your marketing.