“Your company’s most valuable asset is how it is known to the customers.”- Brian Tracy.
As rightly mentioned, your customers are the center of your business, no matter which business model you have. By keeping your customers at the center of your focus, you can make a huge difference in your overall business revenues.
Studies suggest that almost 3 out of 5 customers (59%) would switch to a new brand or a service providers for a better customer service experience.
Furthermore, 62% of global consumers stop doing business with a company due to a poor level of customer satisfaction. When it comes to sales, the probability of sales with an existing happy customer is up to 14 times more than sales with a new customer.
These data clearly shows that a company can only make it big only if its customers are happy and satisfied with their services. Also, procuring new customers are as important as retaining your old once by giving efficient customer service .
Hence, your business can be from any sector of the economic market with many more assets and challenges but main changes that we need to implement to succeed is – create a customer centric organisation.
What is a customer centric business and its importance?
“Customer centricity is an approach to doing business that focuses on providing a positive customer experience in order to drive profit and gain competitive advantage.” – Leslie Cottenje, Hello Customer.
This quote correctly explains that if you want an edge over your competitors, the first thing to do is to find solutions for giving an overall great customer experience to your clients.
Many surveys suggest that a business can make a profit by just retaining their loyal and old customer. 5% of customer retention can increase a company’s profitability by 95%. Also, it is 6-7 times more expensive to obtain a new customer than it is to retain an existing one. So, along with great Lead management solution, you should also have a software which gives end -to -end business management strategy for your business.
A great CRM software like SalesBabu CRM can be your solution of strategizing your overall business and becoming the greatest asset to your company by managing your current and prospective clients.
SalesBabu CRM can provide you great lead management solutions to procure and manage leads, along with after sales and customer helpdesk support facilities. Let’s understand more on CRM software solutions.
What is a CRM software?
CRM software is cloud based solutions to manage its various customer related activities. These systematic solutions store all the customer related information at one centralised database. This helps the decision makers to make futuristic solutions for their firm using these stored data. The main focus of CRM software is customer retention and driving sales growth.
These softwares and sales tracking apps, allow users to access the application through a web browser from anywhere. This also ensures access to real-time information and helps the sales and marketing team to be more productive and give effective solutions. These added functionalities of business sales and customer management , makes the CRM software the greatest strength for the business owners.
What are the advantages of using CRM?
Few advantages of using a CRM software will be as follows:-
- Better lead Management
- Increased team efficiency
- Better data tracking
- Optimised Mobility of the team.
- Secure and reliable
These and many more customer management and after-sales functionalities make a CRM software like SalesBabu CRM, a real asset for your business requirements.
Why CRM System is your most valuable Asset?
To efficiently serve your customers, it is important to have a deep understanding of their requirements and pain points. CRM software plays an important role in helping your company gather and store valuable insights about your customers, allowing a more comprehensive understanding. The contact information in a CRM system encompass several information about both current and potential customers, involving:
- Identification information – that is regional and personal information.
- Product preferences – understanding the particular areas or services that interest them.
- Reasons for product preference – figuring out the sources of latest leads and understanding what attracts them to your products.
- Purchasing trends – evaluating the customer’s historical purchasing patterns.
- Personal interests for business communications – involving interaction modes and payment preferences.
Having a complete understanding of your customers provides several advantages and enables for the provision of customized solutions that meet their distinct requirements.
CRM software classified clients into segments that are current customers, prospective clients, lost or inactive leads, suppliers, partners, potential partners, influencers, and inactive customers. Such segmentation encourages the Sales CRM team to individually monitor and provide customized business solutions.
By considering contact preferences and product interests, the Sales CRM team members can assign results to the appropriate sales representatives who can deliver customer-centric solutions. Although, periodic updates, involving company webpage links, demo videos, blog details, and more, are sent to dead leads and inactive customers. Such strategy assures that such customers stay informed and updated about the company’s products and services. In several instances, such engagement prompts the return of old and inactive customers as the latest leads, contributing to an improved software and service experience.
- Lead Tracking
With traditional business model of excel and manual data tracking, things were messed up and unorganised. Data tracking in CRM systems helps to strategize your lead and data tracking. Every single enquiry, complaint and lead interest is tracked and stored in a cloud based CRM software database. This database is centralised and can be accessed online anytime. This tracking system has a process of documenting every minute detail of customer interactions and preferences for future discussions or meetings.
Sales and marketing teams are aware of upcoming events well in advance and can manage their day to day work more efficiently. Sales team can also set reminders and auto alerts for their ongoing followup activities for a particular date so that when they open their screen on that date, reminder will pop up on their home screen.
Also, live location trackers and other Sales CRM app features help sales team to distribute their work according to nearest customer location or specifications. This reduces lead conversion rate and lost lead nos.
Also with online CRM software management, sales managers can keep an eye on all the pending followup of his team so that they can track respective teams for required actions.
Numerous add-ons in CRM for SMEs are provided to reduce their process cost and enhance sales capabilities to grow. Various quotation and order management add-ons are provided to SMEs to increase and automate their sales process. Sales automation in SMEs not only enhances staff efficiency but also creates more business opportunities and conversions. Also these CRMs for SMEs facilitate each client communication remark to be documented properly, these remarks are from customers or staff related to product and service market. Tracking these remarks help small ventures in making future business strategies.
CRM for SMEs creates numerous educational videos and link locations for educating them regularly about our company and software usage. These features help small ventures to use their resources to the fullest with minimal investment.
- Data Analytics
An effective online CRM software, helps your business to establish strong relationships with existing customers. With sustaining long term relationships, customers become loyal with your company, which not only helps your business in the present day but also help in securing its future.
A loyal customer base can boost up your brand recognition in front of new customers by reviews, comments on social media, blogs and more. A word-of-mouth is the best mode of advertisement for any company. With more old and loyal customers, we can expect good review and feedbacks from your clients which can act as a very efficient way of brand marketing.
Data Analytics component of online CRM software, helps to create custom and in built data reports and metrics which can help sales managers and higher authorities to make more productive and efficient policies for the company.
Once you integrate CRM with your business, the benefits are endless. Online CRM software provides multi channel support which helps to track all the issues and enquiries raised by a customer on various modes of communication. Auto notification and auto assignment functionality in Sales CRM softwares, help in responding to customer queries with automated emails and SMS templates which considerably reduces the response time for the customer.
Along with these lead management advantages, online CRM software like SalesBabu CRM provides many after sales services for customers which manage their inventory, ERP and helpdesk services. These softwares also helps in reducing overall business cost by minimizing manual interventions and repetitive work.
Conclusion
The companies which have already invested in trusted CRM like SalesBabu CRM are leveraging its advantages to put the customer at the heart of their business, to increase their sales and overall business profit.
If you are still searching for an online CRM software to manage your leads and contacts data, then the most trusted sales CRM software like SalesBabuCRM will prove to be the greatest asset for your overall business requirements.
