Given that we, at Nexus, believe in giving you the best possible customer experience, we've extended this mentality to the information we put out. With that in mind, we've decided to invest in presenting the advantages and benefits that a CRM software offers your business once again. Customer Relationship Management (CRM) is the process of tracking and analyzing all of the interactions you have with your customers and prospects. CRM software is a tool that centralizes, simplifies, secures, and scales our customer engagement. So let's get back to the basics on this.
Customer Relationship Management software, or CRM, is a program designed to gather all of the aspects concerning your customer interactions in one single, secure place. A CRM solution helps your business organize and analyze the data about customers and prospects alike.
CRM software centralizes all the data pertaining to your current and future customers, so that your team may remain on top of their tasks. Agents will be able to log accounts of customer purchases, calls, emails, chats, support tickets, etc. This way, no detail of a customer’s relationship with your business will slip through the cracks.
CRM solutions are available to accommodate businesses of every size and budget: from a small SaaS subscription-based model to large-scale enterprise installation. Companies both new and established will benefit from using an suitable CRM solution.
This software facilitates cooperation, boosts efficiency, and increases customer satisfaction over the course of their entire life cycle. Read on to find out what the right CRM solution can do for your company.
The advantages of using a CRM solution
For a new business, it might seem nonsensical to invest in Customer Relationship Management software before you even have customers. However, when it comes to regulating customer interaction and lead conversion, spreadsheets won’t cut it for long. Without the proper software, your sales staff will have a harder time following up on leads and staying on top of customers. The worst part is, you won’t even know about the business you’re missing out on.
For an established company, going without a CRM solution is throwing caution to the wind. If your sales team is running into problems and losing efficiency, a CRM can do a great deal to help. Read on to find out what the right software can do.
1. A CRM helps you streamline your sales process
The foremost advantage of a CRM solution is that it accompanies your sales team throughout the entire process of acquiring a lead, converting it into a customer, and closing subsequent opportunities. It’s right there in the name: a CRM will streamline the management of customer relationships.
If your sales team needs help being better organized and working as a unit, then a CRM can help as well. If your team works as a group on a certain project, or if certain members handle different parts of a chain, then coordinating tasks can be difficult. The right CRM solution can let you program customer-related tasks, and assign them to members of your team. This way, every sales person has a defined role and clear objectives. No sales opportunity will go ignored, and no one on your team will be left hanging.
2. It's the best tool to centralize customer information
A CRM solution will keep customer information in individual files. These files can be fleshed out with fresh data with each new development of your relationship with a customer. Every phone call, email, contract, offer, etc. will be kept in one convenient place. Your whole team will be able to access this information and update it, so that everyone stays on the same page. This will save your team both time and effort, since they won’t have to scramble to access a client’s file in a pinch.
Moreover, centralizing and digitalizing sensitive customer information is more secure than keeping paper files. Storing data on the cloud means that it will be accessible to your team from anywhere in real-time, so long as they have an internet connection. Most SaaS CRM providers include regular backups of your data, thus being proactive in the case of disaster recovery. Moreover, your files are less likely to be misplaced, lost, or accidentally destroyed if they are digitalized: the cloud is much more secure than most realize.
Lastly, your CRM solution can be integrated with the rest of the software your business uses on a daily basis. Consequently, you can keep track of support tickets, phone calls, live chats, emails for each client, right in their files. You can cross-reference with your calendar to schedule appointments and stick to deadlines. This allows your team to refer to their CRM for direction, since both your customers’ information and your team’s schedules are gathered in a single interface.
3. It helps you accompany the customer journey
In your CRM, you will be able to plan your course of action. Rather than rely on a spreadsheet, planner, or (god forbid) a rolodex, a course of action can be laid out every step of the way. This will allow your sales team to focus on closing, rather than expending time doing paperwork.
Your CRM will allow you to easily identify and follow up on promising leads. It will keep track of the process of signing a new customer so the latter’s specific information is available to the whole team, both sales and support. It will remind you to stay in contact with a customer at regular intervals to encourage product adoption and stay on top of solved support tickets. Lastly, monitoring a customer’s involvement with your business can help your team identify opportunities for cross- or up-selling, thereby organically growing your business while helping customers succeed.
All of this means getting closer to your customers, being proactive, and keeping your finger on the pulse of individual customers’ needs and expectations in order to better satisfy them. Implementing a CRM solution can drive customer retention and mitigate churn. The entire customer journey is tracked in your CRM solution, visible to your whole team and accessible for reference every time a specific customer gets in touch. Your CRM solution can become the hub around which your entire sales strategy is organized.
4. It's the best way to foster inter-departmental cooperation
Since your CRM can gather all types of information, it can be the rallying point for the different departments in your company. Coordinating sales, support, marketing, and development is a tricky affair, and without smooth cooperation between those teams, the customers are the ones to suffer and churn.
Lack of inter-departmental cooperation is the source of many pain points for customers. You can use a CRM solution both to assign tasks and see how those tasks fill out the bigger picture. Thanks to a common interface, everyone can access and add to the information in your CRM. Consequently, you can empower your staff to work collaboratively rather than concurrently, by sharing insight, leads, issues, and solution.
Moreover, sharing information, goals, and incentives across your teams improves productivity and efficiency. With the right CRM solution, you can avoid siloing information and help disparate departments work like a well-oiled machine.