CRM Software can improve your customer retention by 27%. It is proven that CRM is particularly designed to enhance customer relationships and improve their satisfaction, a factor that can make a difference when it comes to positioning yourself against your competition. And it is that more and more technological products and services compete for the same customer segment. But are all companies trained to offer the best experience? How CRM helps business? Let’s find out CRM benefits for business or technology companies.
What is CRM Software?
CRM stands for Customer Relationship Management. CRM Software helps businesses, giant organizations, individuals to organize and manage the business workflow efficiently. CRM software’s responsibilities are to maximize customer communications as much as possible and the sales effort of the company.
You can’t limit the CRM Software or tool to an ordinary address book. With the help of CRM software, your team empowers the company more effectively and provide the best customer experience from evaluation to purchase and beyond.
What are the benefits of CRM and how it can benefit your technology company?
When working with a considerable volume of information and contacts for a technology company, when there are several lines of business in the same organization, or when communication between departments such as the sales department, customer relationship, marketing, etc. is inadequate and needs to be improved, the answer is usually technology investment. But why a CRM and not other software? Because, among other benefits, it allows you to centralize information in the same place quickly. Let’s see what are the 5 benefits of CRM and how it can benefit your technology company.
1. All the information in the same place. CRM is the one place for all information.
It seems obvious, but the centralization of data, the possibility of integration of contact information, and deals (or sales) carried out is something that both the Marketing and Sales teams need to determine their short and long-term strategies. So, that’s how CRM software helps marketing, sales, and banks to organize the data and provide the best customer experience from evaluation to purchase and beyond.
However, many companies prioritize a technological investment that does not help to integrate all the information but rather compartments it into different tools that have a single-use. Or, those organizations that do have a CRM only use it commercially, wasting its full potential.
And we agree, centralizing information also implies a change in mentality, an internal change. But keep in mind that contact details ( both qualitative and quantitative ) are of the utmost importance for Sales and Marketing, and both departments or managers must learn to work as a single team to get the most out of the data and achieve the business objectives.
Change in Mentality
And we agree, centralizing information also implies a change in mentality, an internal change. But keep in mind that contact details ( both qualitative and quantitative ) are of the utmost importance for Sales and Marketing, and both departments or managers must learn to work as a single team to get the most out of the data and achieve the business objectives collectively.
Think of it differently
Think of it differently. Marketing strives to understand the purchase motivations of potential customers. It works on the appropriate strategies to increase traffic, encourage lead generation, and accelerate their qualification as potential buyers; meanwhile, sales tries to give a push to these qualified contacts for the purchase, exposing the advantages of the product or service of your business. Don’t you think that constant communication between the two is essential?
CRM allows you to store relevant information for both teams, improving not only communication with customers but also internal communication. The contact information obtained in each of its phases of the purchase cycle is essential to define a joint strategy that leads to achieving a higher revenue for the company, especially if there are different lines of business.
And is that the appropriate CRM tool can not only store sociodemographic information, but also qualitative data obtained from different conversion channels, as well as quantitative data regarding the business or sales made, in addition to, of course, the browsing history and conversion of the users.
Being able to register data that is accurate and accessible about preferences, needs, concerns, and yes, transactions can mean the difference between a relationship that benefits both the company and the client. And, if another that leaves both unsatisfied when objectives are not met. On the one hand, satisfy the overall customer experience and, on the other hand, improve the economic benefit of the company.
And in this sense, browsing and conversion history is the real purchase cycle of each of the contacts that allow identifying behavior patterns, needs, and consumption trends.
It leads to optimal buyer profiles. Not only that, but it also improves the marketing and the sales strategies that lead to better communication with clients.
CRM is essential when businesses want to enhance customer experience because through the browsing history (which indicates the pages and content that they are interested in ) and the conversion history (which shows which channels, routes, CTAs, and forms that call to action ).
2. Understand Your Customers Better
Think that as you get to know your consumers more, it will be easier to offer enhanced shopping or service experience. Therefore, a tool that allows you to integrate not only qualitative and quantitative data but also document all kinds of interaction that prospects make with your company and the work that your team does to boost conversion has undeniable value.
As we have mentioned, the information stored in the CRM has satisfactory value for profiling buyers, which we know as buyer personas. These buyers should be representations of your most influential potential / ideal clients. Well-defined and optimizable groups over time, thanks to the data obtained in the CRM that, also, will help you to make the appropriate segments for your strategies.
3. Work on Communications
Consumers are tired of receiving notifications, weekly, biweekly, or monthly on topics that have nothing to do with them. The newsletter, emails lead nurturing even commercials lose effectiveness as not customized. But as we’ve discussed, smart lists can help you customize channels like email marketing.
But, when it comes to improving communications, thanks to CRM software, you can go one step further. Thanks to the information in the contact database, it is also possible to customize pages, forms, and even pop-up content.
And the truth is that the possibilities of Smart Content thanks to CRM are not limited to this customization, but it is also possible to automate a flow of actions and notifications that optimize the work of your Marketing and Sales teams.
4. CRM Automates Sales and Marketing Actions
Many CRM software allows you to automate flows of actions and notifications following specific actions and properties. These workflows are especially essential when working with large volumes of information and contacts or when you have few resources and a lot of work.
Actions can be activated to the extent that contacts meet desired requirements set by the activity in their purchase cycle: page visits, content downloads, form submissions, etc. But these actions can also motivate changes to lists, trigger parallel automation, communications, and even internal notifications.
These internal notifications are essential to keep those responsible for Marketing and Sales aligned in the achievement of objectives. Also, the creation of workflows saves time and improves the effectiveness of the work performed.
5. CRM Improves the efficiency of the teams
The main idea is that thanks to CRM software, you can work more intelligently, dedicating efforts to improve the user experience. In this way, not only the customers get what they want, but the company as well.
As we have mentioned, being able to view all the information from a tool, that is, having all the data centralized and automating different tasks and actions, can improve the efficiency of the teams.
In this case, the internal organization is essential, and establishing who is responsible for dealing with the contacts in each of the phases can help with the performance of each team, improving the final conversion results.
Once both Sales and Marketing learn to align and use CRM, the productivity of this tool increases, sales cycles decrease, and the company can increase customer satisfaction.
So, we saw CRM benefits and how CRM can help marketing, sales, banks to get the data organized to provide the best customer satisfaction and experience. If you want to get CRM for your business, Intelvue can help you. We provide CRM solutions and services to startups, organizations and small businesses. Get connect with us.