CRM is that system allowing businesses to manage business relationships and the data and information associated with it. If developed accordingly CRM can change the game of any business and can add up as a valuable asset for your business growth.
CRM or Customer Relationship Management is what defined by a great thought leader of the industry, Paul Greenber,
“A technology & system that sustains sales, marketing & customer service activities. It is designed to capture & interpret customer data, both structured & unstructured, & to sustain the management of the business side of customer related operations. CRM technology automates processes & workflows and helps organize & interpret data to support a company in engaging its customers more effectively.”
As it is assumed from the statement above, CRM at its simplest definition, is more of a building block of the relationship and activities among customers and the business. With a conventional CRM, you can store customer and prospect contact information, accounts, leads, and sales opportunities in one central location, ideally in the cloud so the information is accessible by many, in real time.
How CRM Helps an Organization?
Any business starts out with a foundation of great customer relationships. You, the seller, connect with people whoever need your product. Yet, as your company grows, these business connections grow more sophisticated. It’s not just a transaction between the buyer and seller. You start to manage a myriad of connections, across time, within each company you do business with. You need to share information across various teams within your own organization who are making contact with the same customers.
A CRM system can serve as a vital nerve center to manage the many connections that happen in a growing business. So, how do you translate the many streams of data coming in from sales, customer, service, marketing, and social media monitoring into actionable business information? And how exactly do you track your employee’s efficiency in their work approaching and dealing with prospective clients? Don’t tell me you’ve been doing it in person one by one! But if you do, my friends, this blog is for you!!!
Did you imagine a CRM software for your business that gives everyone across the business, including sales, customer service, marketing, and business development, a better way to manage the customer relationships and interactions that drive success? Well, with visibility and easy access to customer data, such as contact information, sales opportunities, service issues, and marketing campaigns, a CRM system can give you a clear overview of your customers. With an easy-to-use, customizable dashboard, you can see a 360-degree view of the customer, just the way you needed it, all in one place!
Overview and Followup!
Many companies use spreadsheets for storing their customer data. It’s not that we’ve not used it before here in Brain Station, but we ask why now when you can have your very own customized CRM software to sort out the crazy mess and keep track of the sales, marketing and other dependencies in one pipeline?
Spreadsheets get lost, they become outdated, and they might fall into the wrong hands. Business cards are important for collecting customer data. But not when lying on your desk. These customer strategies miss something important – collaboration.
A customer database increases in value when everyone works together on populating it with data. May be your CEO wants to say something to guide you for getting a potential client or preparing for the deal. May be your team manager have some feedbacks losing a potential customer. Yes, for an organization having such activities once on a month can think of the in-person meetings. What if your organization is doing this process hundreds of times a month. I believe the value of your organization leaders time is more than the price of implementing a CRM to track this from anywhere anytime. Spreadsheet for this job too mainstream, old and time consuming not to mention insecure messy way of organizational practice.
I recently heard a great story while diving into the CRM market prospects. A co-founder of a mid-level organization was quite passionate about growing their business. Making Waves started out with 14 employees, and now have more than 300 employees. This is a great development, and without a proper CRM solution it would have been difficult.
Since they started in 2001, he has demanded that all employees register every customer along the way. One of his key points is that any customer or contact should be registered in their central CRM database, with the email as the top field to remember, being the key to their customer and lead nurturing strategies.
See, that’s where the CRM solution works and the value lies within. The few of the greatest assets of a CRM are-
There are many reasons why an organization will decide to implement a new CRM strategy. But who is this organization? It’s apparent, the customer relationship acts differ from industry to industry. Baselining the needs of all different organizations, CRM is prospective to these cases.
1. IT companies
Competent consultation, excellent support and project managers that meet their deadlines and maintain their budget – these key factors are essential for gaining a competitive edge in the IT industry.
2. Manufacturing Industry
The challenge facing all manufacturers is to be flexible enough to react to market changes while at the same time keeping an eye on costs. Modern machinery alone does guarantee competitiveness. What is essential is the ability to provide customers with professional service and support right from the start.
There are few industrial sectors as dynamic as the automotive industry. Car dealerships have to demonstrate outstanding customer service and competency if they want to stay ahead of their competition.
4. Service providers
Service providers are more reliant on satisfied customers and their recommendations than perhaps any other sector. Because customers are more likely to remain loyal to a provider who best meets their needs.
5. Energy suppliers
In order to be able to identify the market’s needs early enough, energy suppliers must act strategically. Instant access to all information is essential for identifying and fulfilling customer needs.
For research and development institutes, a sound information and knowledge database is essential. Information structures are required that involve all participants in processes and enable smooth communication between those involved.
Traders can only differentiate the quality of the goods they are offered up to a point. Reliable service is what retains customers and makes you stand out from the competition. With CRM your customer data is used in a structured way that helps to build long-term customer relationships.
8. Engineering sector
Engineers have to process projects efficiently as they move from the initial project idea to closing the project. They have to be precise and reliable. CRM solutions help project engineers to be more effective.
9. Management consulting
To retain valuable customers, management consultants strive to meet the requirements of their customers and grant their wishes, because satisfied customers are more likely to recommend their services by word of mouth. Successful customer projects are easily implemented with a central client management tool and a streamlined project planning process.
Successful organizations, associations and non-profit organizations increase their credibility with professional member management and first-class services. CRM software that has been tailored to the requirements of organizations benefit both you and your members.
11. Accountants and tax advisors
Today’s “economic life” is short. So it is extremely important for advisors to establish long-lasting relationships with their customers, which are built on trust and offer both parties significant added value. Consequently, advisors gain a unique insight into both the respective industry and their customer, which means they can offer the customer precisely tailored services. Modern CRM software solutions support accountants, tax advisors and lawyers in achieving their goals.
When it comes to money, trust is essential. Professional services and attractive conditions help banks, insurance companies, and non-banking finance companies to establish trusting, long-term relationships with their customers.
13. Food Industry
The food industry has to deliver high quality standards at the best possible price. Constantly increasing market demands require standardized processes and that company processes from purchasing to production and sales all run smoothly.
14. Mechanical and plant engineering
Traditionally, the German mechanical and plant engineering sector has always been very strong. Competitors from low-wage countries are squeezing the market, and competing companies also want to increase their exports. In the battle for market shares customer satisfaction is a deciding factor for strategic success.
In the travel industry, the level of customer satisfaction and loyalty depends on the quality of service. The challenge for travel agencies is to be able to provide a friendly, professional, round-the-clock service. Since customers respond negatively to discrepancies, data consistency is essential.
As an avant garde software development company renowned in both global and local market, Brain Station 23 develops the most specific industry-oriented and solely tailored CRM solutions for different companies of the mentioned industries above, so that employees of those organizations can easily access the CRM entirely over the Internet. Our solution gives you the fastest, most complete way to put your customers at the center of everything you do. So now you get the privilege to focus on your business to excel in the market.
Contact our team right away to give your business the new bloom.
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