Written by Apoorv Bhatnagar
According to sources, CRM is expected to grow three times of what it is today in the next 3 years. The core of any business is to serve customers and provide better customer experience. Therefore, all the businesses that focus greatly on customers and are constantly working on making customers their top priority make better profits and is able to reach their goals at a faster pace than others. To be able to deliver a rich experience to customer organizations need tools like customer relationship management software. There are many complex issues that these software applications are able to solve at a faster pace than the old school thought of using excel sheets or business cards.
The bottom line is that customers prefer to spend their hard-earned money where they feel most comfortable and are given best services. As soon as customers know that they can get services that they are looking for at prices that are competitive they prefer to stick with the service provided for as long as possible because these customers are happy and have gained your trust and loyalty over time. For this to happen every organization needs to look deep and hard and go to great lengths in understanding individual customers as best as possible to retain and increase their customer base. Organizations need to know that no single solution will fit all and thus should be flexible to customers and their needs. With so much at stake, huge emphasis should be put on making the best-informed decision that is good for customers and the organizations. This is exactly why USA is seeing the use of CRM software becoming so common and would continue to do so with more and more emphasis being put on customers.
How CRM systems help organizations
- It helps track data of your customers in an organized way
- Following up customers becomes easy
- Conversion of leads generating into sales is much higher with CRM systems working as a huge help to delivering metrics
- When all employees on board are using the same system to counter with difficulties faced by customers than data management becomes easy
- Tracking conversations becomes easy
- Assembling historical data becomes easy thereby giving an organization a better understanding of what their customers want from time to time and what new products and services they would be interested in?
How customization helps
No software you buy will fit you as if it was meant for you. There will always be the challenge of implementation irrespective of who is your vendor and whether if it is the best system in the market. Therefore, companies need to spend on solutions that can offer customizations to their clients and customers. For example, some companies would want cloud features while others would want data segregation for better implementation of customer interactions.
Converting Probabilities into Possibilities
Organizations are often faced with situations wherein a prospective client may not be sure and may end up saying “no” to you. Now there are two scenarios that can happen from this, one of which is either you accept that no and forget it while the other being keeping the prospect of turning the lead into business alive in your CRM database. Thus, most companies in USA today are keeping track of these data, devising strategies to somehow market to these clients and win them over.
Protecting your assets
With time your clients, employees and vendors may change. You will go through a phase where you may not be able to track down their data which could be relevant to you in the future for striking future deals. You don’t want to lose your business because relevant information was not stored properly or the sales pipeline or contacts were not updated. These companies don’t want to be left with nothing when someone leaves them.
Decreasing cost over time
While the initial cost of setting up a CRM system may vary depending upon the kind of system your business needs and the service vendor provider you opt for. But the overall goal of the company is to decrease cost over time by providing better customer service experience. Hidden charges can really upset customer experiences and thus a lot of effort has to go in trying to remove any hidden charge and these companies have to provide their customers with bonus features and additional plug-ins so that the customer feels that they are getting value for their money.
Companies in USA and across the globe are now understanding the importance of CRM systems and hence are using it as the one of the most central part of their planning to ensure customer service experience can be enhanced. This is not only winning them help customers but win their hearts as well. It is a known fact that a happy customer means a steady increase in sales and profits. CRM systems have come a long way and more and more companies are using it to attract customers.