Praise Sim, Copywriter, GENIA
08 September 2020
Are your sales reporting processes tedious and time-consuming? Have you spent hours looking for that one email you KNOW you sent to a customer just a few weeks before? Or worse, having to sift through papers, document files, and drawers just to pull up a single form?
All of which could have been done within several presses of a button!
The time that could’ve gone to closing leads and resolving customer pain points were wasted completing tasks that can easily be taken off your hands with automation.
Time is very precious when it comes to customer service and your business needs to optimize every single second it has!
Here’s how you can stop wasting time and money by shifting to a CRM system.
What is Customer Relationship Management (CRM)?
Collecting and classifying customer data is a full-time responsibility, and it is one job that is too costly to ignore. Investing in a Customer Relationship Management (CRM) tool or software is a must for any business serious about their customer satisfaction. A digital record management system can help you locate information quickly, make timely decisions, reduce compliance costs, and save you the effort of creating, storing, and handling paper!
All of these sound great, but many companies still do not think that a CRM system can be useful to them.
And the most common reasons?
“Only large companies need a CRM system”
“It is too expensive for my SME”
“Excel works just fine for us”
If you find yourself constantly responding and retaliating to competitors’ actions rather than being the trendsetter, you might want to reconsider all the time you are wasting on manual tasks. And to debunk the myths that outsourcing it to CRM is expensive, many software out there cost as little to nothing and can be easily accessed right off the internet!
And the list of benefits doesn’t end there.
Benefits of a Customer Relationship Management Software (CRM)
1. Capitalize on your company’s greatest asset: Your Customers
Your customers’ time is precious!
Being able to respond to their issues and queries quickly will earn you significant brownie points that will keep them coming back to you for solutions.
CRM will allow you to keep track of ongoing and past conversations which can help you gain a better understanding of the customer and respond more effectively. Having an arsenal of transactions and conversations to refer to also makes the learning process faster, especially with cross-team referencing!
Communicating regularly with your customers.
Using an automated system also allows you to turn your customer base into an active by creating regular or scheduled communication. Whether it is through a newsletter or promotional announcements, reaching out to your client base will keep them thinking about you even when they aren’t actively purchasing or engaging your product or service.
2. Execute your Sales Outreach Strategy Seamlessly
If you’ve ever had to deal with a sales team or have done sales yourself, you’d find that a lot of time is wasted on cold leads with disappointingly low turnover rates. Every business wants to deal with referrals and prospects that have shown interest in the product, but an awful lot of time is spent dealing with rejection and repetitive tasks!
A good CRM will take the load off your hands and allow you time to focus on planning, reviewing, and improving your outreach strategy, while serving as an analytics tool that can help you access the effectiveness of your outreach.
Take HubSpot for example.
HubSpot CRM’s universal inbox gives your whole team one location to view, manage, assign, and reply to every customer conversation — regardless of the messaging channel it came from.
Having all of your prospects’ data logged in one central location makes the rest of the sales process easier because you are able to pick up right where you left off without searching for information!
3. Improved Analytical Data and Reporting
CRMs allow your team to collect and organize data about deals using reporting features such as sales dashboards and reports. With these features, your team can better automate and manage their pipelines, deals, and contacts. And subsequently, evaluate their performance and keep track of their goals.
As a manager or director, you can also benefit by using the generated sales reports to monitor progress and quota attainment with greater ease and clarity –– knowing exactly when and where the revenue is coming from.
Customer Relationship Management (CRM) Strategy
Information adapted from smartsheet.
If you are convinced that you need a Customer Relationship Management tool or you already have one in place, you are going to need a formidable strategy to make the most out of your money spent. Using these 5 strategies as a guideline can help strengthen your present customer relationships and build more meaningful ones subsequently!
CRM Strategy 1: Determine a Distinctive Customer Relationship Management Value Proposition
Your value proposition should answer 3 fundamental questions:
- Which customers will you serve?
- Which customer needs will you meet?
- At what price (price accounts for value and profit)?
Prioritize Profitable Customers. Deciding which customers to serve based on who you want your business to reach is crucial to building strong relationships with customers. By analyzing this targeted group, keeping value and profitability in mind better equips you to commit to the customer relationship strategies that follow.
Identify Unique Customer Needs With Sales and Marketing Processes.
“If marketing is the act of allocating resources, CRM is the art of determining which resources to market.” Your sales and marketing processes should be calibrated to identify unique customer needs.
This is where a CRM tool can assist in the collection of data from sales processes to reveal opportunities that enhance customer experience!
CRM Strategy 2: Tailor Communication to the Value Proposition
Businesses engage in conversation with customers on a daily basis. Integrating modern CRM processes and technology will facilitate this process through marketing automation, email drip campaigns, and so on, with the option of personalizing and tailoring the communication activity according to your objectives.
Communicate Like People, Not Robots. Customers enjoy having familiar and relatable interactions. With advanced CRM technology, you will be able to communicate your brand’s story with words, images, and themes that can reach your customers on a more personal level.
Communicate Rapidly and Frequently. With the availability of communication technology and tailored CRM communication activities, your business can better create customer interactions and respond to their needs in real-time. Having a CRM is especially useful if your marketing and sales activities are conducted on multiple channels, building and enforcing a reliable communication timeline can help you organise customer interactions and prioritize useful points of contact.
CRM Strategy 3: Use Trade-Offs to Enhance Customer Service Strategy
Live for Complaints and Use Data to Make Difficult Choices. Complaints aren’t necessarily a bad thing if you can use it to improve your products and services. Through reviews and feedback, your business can make more meaningful attempts to foster a positive brand image, and improve on customer experience. It also makes it easier to identify suitable customers for your business and evaluate if they align with your profitability goals. Customers choose to do business with companies that resolve complaints in their favor.
CRM Strategy 4: Determine If Your Customer Relationships Fit Your Strategy
Connect Your CRM Processes with Relationship Marketing. Relationship marketing goes beyond the traditional stages of a buyer-seller relationship and moves away from transactional marketing frameworks. Relationship marketing focuses heavily on the needs of the customer in the development of business strategy and it is a concept that depends on all stakeholder activity (that of suppliers, retailers, shareholders, customers, and employees) to create value. According to a Linkedin survey, 70 percent of sales and marketing professionals say that the alignment of their departments delivers a better buying experience for the customers. Your CRM processes and strategies can assist in the tracking of business activities and should be in line with the principles of relationship marketing.
CRM Strategy 5: Enable Continuity With Data-Driven Customer Relationship Management Processes
Utilize Data Before Contacting Customers. Modern CRM technology enables companies to collect and store customer data. Even for small marketing operations, the technology available allows sales and marketing teams to identify customer segments and target their unique needs in ways that were previously unavailable. CRM technology can collect and store data on customer behaviors and online preferences.
Complete your CRM strategy with Search Engine Optimisation!
A powerful CRM strategy is undoubtedly backed up by strong data, and one of the best ways to gather this information is through your website traffic! With Search Engine Optimisation, you can expect 1) greater brand awareness 2) better understanding of your target audience!
At GENIA, our mission is to turn your business into a content hub and help your business establish an authoritative website, “an established resource centre for a particular niche”, where people go to whenever they require information from that particular industry.
The best way to do so is by generating traffic to your page consistently and sustainably, and the only way to do so is to generate organic traffic through smart SEO planning, powered by strong and relevant content.