7 Reasons To Use a Customer Relationship Management (CRM) System
Why you cannot afford not to use CRM
For many years, a good customer relationship management system was a pen and a piece of paper tucked in a salesman’s pocket, only to be replaced by digital records in an excel file. Eventually, a dedicated automated system was born, and businesses around the world realised the advantages of implementing a CRM system.
Some businesses took immediate advantage of the power of automation but sadly have rested on their laurels without developing alongside technology. The speed at which technology advances far outstrips the development of a business, and constant observation of the technologies needed to build or maintain a CRM system is needed. This is where the relationship with an experienced CRM development services team, such as Go Wombat, is important.
Incorporating a CRM system into a business definitely puts that enterprise at an advantage within the specific industry. Conversely, continuing to use an outdated CRM system can put a business at a disadvantage.
There are many reasons a business should incorporate a CRM system into its operations, as there are also many reasons to maintain that system to keep up with technology and customer trends.
To better understand how to implement a CRM system, and the importance of maintaining that system, we will look at what a CRM system is, and any current trending issues in CRM. An important aspect to consider is whether to opt for onsite or cloud-based CRM. Another useful detail of a CRM system is artificial intelligence, and how it is used to enhance specific aspects. We will explore who needs CRM, and the possible advantages of a CRM system. As a wrap-up, we highlight some of the dangers of not using a CRM system.
As with most things in our lives at the moment, the pandemic has influenced almost all aspects of business, not least is the need to remain in touch with our customers. This need is also set to continue into the future as we adapt to the remote aspects of working and living.
Communication is now the most important aspect of a business. The way your staff communicates with each other, the way they communicate with your customers, and how your customers communicate with you. This has and will continue to change, and on a more permanent basis.
This all means that many businesses will find themselves in a dilemma, what to do and how to change the mode of communication channels. This kind of problem could have grave consequences on business revenue and affect the marketing strategy.
A CRM system can be more than merely recording the details of a potential or existing customer. It is a means of recording and tracking all interactions with them. Every conversation or interaction a member of staff has with a customer can be recorded and reviewed. For this reason, knowing how to choose a CRM system is incredibly important.
Luckily though, Go Wombat is a specialised CRM system development company, and we are very capable of lending a paw. To discuss your CRM needs, contact us today.
What is a CRM system?
A CRM system is an integral aspect of a business designed to enhance communications internally as well as with customers. It includes functionalities to allow users to track and record company aspects of human resources and customer interactions through various technologies and channels. These channels include emails, phone calls, contact forms, and many others.
It can provide sales and marketing teams with sophisticated and specific tools to manage the whole sales and marketing funnel. From contact tracking, lead generation, opportunity management, forecasting, and closing deals, a CRM system can help with it all.
These kinds of systems are usually full of features specific for tracking and recording customer interactions online. It can automate the more time-consuming and routine tasks whilst providing managers with the ability to track productivity and performance. Relationships can be maintained through pre-scheduled emails or phone calls, removing the possibility of human error.
What is trending in CRM?
As we hurtle forwards, we all feel the rush to develop our customer relationships and therefore need to discover what is on point at the moment. With this in mind, here are our top innovations within CRM for the foreseeable future.
To see our detailed predictions for 2022 in Business Automation, click here.
Artificial Intelligence Leads the Way
This could be considered a ‘no brainer’ as AI is appearing in pretty much every aspect of life, so there is no need to presume it isn’t here. In fact, we are using AI more and more in our daily lives and at work.
It is commonly reported that an increasing number of CIOs have already and are planning to integrate some form of AI into their CRM systems. This trend is also predicted to continue into 2022 and beyond.
“Resistance is Futile”
There has never been a better time to consider starting a CRM system than now. A vast majority of professional sales personnel consider the use of a CRM system to be vital in their job. The fear of the unknown, namely the cost and technical expertise, are the fundamental barriers.
However, with the cost of development and implementation falling all the time and the level of expertise increasing, these barriers are less effective and seem increasingly irrelevant. All it takes is a simple call with Go Wombat and we could walk you through the process of how to build your own CRM system with us.
Making CRM Socially Acceptable?
Well ….. almost! Companies are integrating the aspect of Social Media into their CRM systems. This actually gives a greater understanding of views, opinions, and brand awareness.
The ability to view in real-time and react immediately to posts or comments provides the opportunity to build and reinforce customer relationships. As people feel less inhibited on social media to comment, this provides vital feedback for a company.
Stack Condensing
With the development of CRM systems and a greater level of sophistication, it is becoming more convenient to use fewer tools. Using a second or third tool when a single application could replace them seems increasingly cumbersome.
A modern CRM system can remove the need to work cross-platform by integrating the recorded data and displaying it within a single application.
CRM and IoT
From talking refrigerators to wearable health monitors, the smart home device market is transforming the IoT. Reports suggest that about 64 billion devices will be connected by 2025.
An ever-increasing number of manufacturers are developing smart products to stay ahead of the competition. This connectivity allows companies to remain in contact with and retrieve customer data in real-time. The development of mobile applications is now integral to CRM systems. A mobile CRM system gives a 24/7 feel to customer experience. Companies will connect with and service their client's needs faster and more efficiently than ever.
Does Size Matter?
When it comes to CRM, no, it doesn’t. It is normally thought that only larger companies need a CRM system, when, in fact, it is the size of the sales funnel that counts. Even a freelancer servicing several clients could benefit from a CRM system. Small companies still need the ability to connect, track, and develop potential leads.
A Greater level of Business Process Automation with CRM
Larger companies have been putting business automation at the front of their development strategies for some time now. Business and marketing plans have featured heavily with automation of services and processes.
At Go Wombat, we believe from the current trends in the industry, CRM will play an ever-important role in the Automation of Business Processes. This growing trend will ensure that CRM is and will continue to be an integral part of business development. Go Wombat has extensive experience in the development and implementation of CRM systems, and that is why we can predict these aspects. If you would like to discuss your needs for either starting or maintaining your CRM system, contact us today.
Onsite or Cloud-based CRM?
When considering integrating a CRM system, it is important to understand the differences and major advantages of the various types available.
Three types of CRM systems
CRM is a versatile system that offers a variety of possibilities and comes in three main types. A desktop system runs on a single computer and is usually for individual use. A Client/server is an on-site system that has a central database stored on a server. The client handles many aspects of the system. Each laptop requiring access to the database would also need to have some installed software. This would require a license fee and agreement. The final version is a cloud-based system supplied and hosted by a third-party provider online.
On-site
With an on-site system, the client is responsible for the security and maintenance of the data, and the overall condition of the system. The installation can take longer and requires extensive on-site expertise. Normally, the vendor supplies technical support with the more critical issues.
Cloud-based
Software-as-a-service (SaaS) stores the CRM software on its servers and handles the smooth operation and provides a full service regardless of the client’s location. SaaS providers are also responsible for security, maintenance, updates, and technical support.
One of the many major advantages of cloud-based CRM systems is that they are highly scalable. This provides flexibility and added functionality as and when required. In addition, this enables a company to think ahead with expansion plans according to their growth.
Artificial Intelligence in CRM
Artificial Intelligence is used extensively within Business Process Automation to remove the more time-consuming and often costly activities. The processes undertaken by AI are often vast in terms of the amount of data processed and sorted. This is the same when AI is incorporated within CRM. AI can help liberate the human element from the more mundane tasks whilst removing the errors inherent in human and machine relationships.
By incorporating AI within a system, a company can provide a more sophisticated and elegant experience for the workers and for the clients.
Improved Data Management
The CRM system is fed data from multiple channels, including Social Networks, and can process, filter, and analyse them, before passing the relevant information on to the appropriate team or person.
In this way, communications within the company as well as externally with the client are presented in a timely and accurate fashion, enhancing the flow of information within the marketing department.
Better Customer Experience
Increased customer service is experienced through a more personalised and efficient method of operation. Both the perceived quality of service and a greater user-friendly approach enhance customer relationships.
Improved Sales Strategy
With AI within a CRM system, a company can develop a detailed customer profile and predict possible future actions based on a detailed analysis of previous actions and decisions.
If you find the idea of AI within an automation system interesting, then contact us today to discuss things further.
Who Needs CRM?
Customer Relationship Management is used in many business functions and areas of industry. However, CRM Software is mainly used in sales, marketing, and the service industry.
Sales Teams
The sales pipeline is a prominent advocate of CRM as it helps to monitor new leads, schedule calls, create reports, set and arrange follow-up tasks with customers, as well as create and issue sales invoices. By creating forecasts and reports, managers will have a real-time version of data.
Marketing Teams
Marketing campaigns can be developed and controlled through a CRM system, having collated all relevant customer data. By integrating the website and collating registration forms, the marketing team can pass potential leads to the sales team for follow-up calls. All this can be done through the automation of the CRM.
Service Teams
After-sales support requests can be recorded to help maintain customer loyalty. The help desk is a vital aspect of after-sales activity and a great way to develop customer relations through effective and personalised contact.
What are the advantages of a CRM system?
CRM Workflow Automation
As we have covered throughout this article, the flow of work is ultimately enhanced by integrating a CRM system. You can prioritise activities through automation as well as prioritise leads and bring together activities and data from multiple channels of communication.
Benefits from Using CRM
There can be many benefits from using a CRM system, and you could get an inexhaustive list, so we offer our opinion of the most obvious. Improved contact management helps you keep in touch with customers as well as employees. A greater level of customer loyalty and retention becomes a reality with improved contact and a sense of familiarity. The sales funnel is easier to manage as too is the efficiency of productivity. Company and team collaborations are enhanced through the improved lines of communication and sharing of information. Sales reports and forecasting are more accurate. In general, a CRM system enables business growth.
What are the dangers of NOT using a CRM system?
The risks of not investing in CRM
If you fail to speculate on this flexible advancement in Business Process Automation, you risk pushing yourself out of the race. It makes very little difference as to the industry you are in, with the vast array of businesses offering similar products or services as you, customer relations are important. However, if you bother to invest in a Customer Relationship Management system, you stand a chance of edging out the competition.
No Follow Up
A lot of money could be lost when potential leads are left unattended. A CRM system will generate reports and schedule contact calls based on gathered data.
Inefficiency
It is always surprising to discover the time spent doing the mundane tasks required by almost all companies. The amount of effort, energy, time, and money that can be saved by investing in a CRM system is almost mind-boggling.
Lack of Clarity
The activities required by a business to maintain relationships are enormous and sometimes overwhelming for a manager to control. Without the aid of a CRM system, the potential loss is likely as staff often forget to carry out tasks or make those important calls.
Lack of Strategic Planning
Without real data analysis, a business risks missing potential problems. This could end up costing a lot of money. The inability to monitor trends or predict intentions to move in a particular direction could be a game-changer. CRM provides the insights to influence decisions and proactively adjust plans.
Unclear ROI
Without the ability to assess the success or effects of a marketing campaign, you are unable to accurately identify your Return on Investment (ROI). With CRM, it is possible to accurately correlate the amount spent on marketing and the number of closed sales, which gives an accurate understanding of the ROI.
Conclusion
Customer Relationship Management is a must-have piece of technology in this day and age. It can enhance a Business Process through the collation and sorting of multiple channels of information.
CRM can reduce errors whilst improving the quality of customer experience. It provides a smooth transition from potential lead and helps to convert that lead into sales and develop a sense of company loyalty.
Communications within the company can also be improved through internal channels of communication. This act will inevitably raise team spirit, which will help increase the overall ethos of the company.
Failing to consider the implementation of a CRM system will only spell disaster for a modern company trying to stay in the game.
Ask yourself the question: “Can I really afford NOT to invest in a CRM system?”
Go Wombat are specialists in this field of Customer Relationship Management system design and implementation. We can discuss and develop the most suitable CRM solution for your company. Call us today or check out our website.
