Managing relationships with customers form an integral part of any business. Companies that succeed in satisfying their prospects enjoy an edge over others. Every organization pays attention to customer relationship management or CRM. The advancement in online technologies has further eased the task. Today, no business can think about running a successful venture without a top-notch CRM system. So, what is CRM? Let’s find out about this innovative software and the basic CRM functions.
What is CRM?
It’s an acronym for customer relationship management. CRM is a technology or system aimed at managing interactions with existing and potential customers. An ideal system helps companies build better customer relationships and streamline the varied processes involved, to boost sales, improve profitability, and tender enhanced customer service.
CRM is essentially a marketing strategy to manage your customers, existing and potential ones. A typical CRM system brings you a tool for effective sales management, contact management, productivity, workforce processes, and more.
The system lets you concentrate on your company’s relationship with individuals, including service users, customers, suppliers, or colleagues. As opposed to the common belief, CRM isn’t limited to sales and marketing. Its horizons extend to all spheres of the business.
Basic CRM functions
Now you’re familiar with the concept of CRM. Plus, you know the benefits of the system. Let’s find out how it can ease the management of customers and others involved. Figuring out its purpose will help you make an educated choice.
The word remote has shaped a new meaning and garnered more attention today, thanks to the current COVID-19 pandemic. Businesses look more concerned about managing their affairs amid possible contingencies, including disease outbreaks, war, and other uncertainties. Also, the increasing population has stretched the transportation system, eating plenty of travel time.
Remote working ranks among the most basic CRM functions. It’s possible to manage customers and other individuals using this system. A reliable Internet connection with a sound speed is sufficient for your managers and workers to carry out their duties. Such an environment lets your venture thrive even during turbulent times without stressing your workforce.
No matter how popular your company is, your workforce may not be blessed with innovative devices for remote working. Some workers may have top-notch computers, whereas others may own a basic Smartphone. So, you’ve to invest heavily in hardware devices to ensure smooth remote working.
However, modern CRM systems are compatible with all devices. Whether it’s a laptop, tablet, personal computer, or Smartphone, the technology lets you carry our efficient customer relationship management from any device. So, the question of heavy hardware investment doesn’t arise. As well as saving your setup time, it saves plenty of money. It’s a win-win scenario for your company.
Accessibility turns out to be one of the main problems with devices and systems. Most systems limit your access through some hardware. This point holds in the case of online data management. You’ve to employ alternative techniques or invest in a technology that streamlines accessibility.
The CRM system allows ease of access to data from other systems via the Internet. Whether it’s the sales system or contact management software, CRM comes equipped with all that’s necessary to get rid of hassles involved in remote accessibility.
The loss of data poses threats to any organization. Remote working involves the risks of data loss. What if vital information from your employees’ devices gets wiped out in one way or the other? If so, your entire database could take a nosedive. You may have to contact your clients, customers, suppliers, and others to retrieve the details. However, a great deal of time could get lost in the process. Not to mention, the reputation of your company could be in jeopardy.
Modern CRM systems come with unique features, including data synchronization. Whatever details get input in remote devices is automatically synced back to the central system. You can easily recover the information and send it back to remote workers as and when necessary.
Multiple tasks management
Remote work setups often come with certain shortcomings. One group of workers has to handle particular chores. Then another group needs to perform a different type of work. Essentially, employees don’t collaborate, which hamper smooth marketing and other aspects of management.
Multi-tasking is among the basic CRM functions. The application allows you to handle customers and manage clients and suppliers. Plus, the system automates email marketing and provides personalized customer experiences. At the end of the day, your company enjoys a host of perks in terms of better contact management, happy customers, and satisfied clients, which reflects in the overall profitability.
Security has become a threat to organizations, thanks to the increasing number of intruding and hacking attempts. Also, the loss of pertinent details from laptops during transportation presents another risk. What if prying eyes steal data from portable computers your workers carry when commuting to and from the workplace? If that’s the situation, you might face serious financial and legal consequences.
The CRM system avoids data loss during transportation through the remote working option. As far as online threats go, the software includes multi-layered security. So, the likelihood of hacking and intruding attempts get checked.
Built-in communication mechanism
On-site working allows employees to communicate and interact effectively. Workers feel more involved in a collaborative environment and perform better. Remote working keeps employees from communicating with one another, thus impacting their efficiency and consequent productivity
A Sophisticated CRM system comes with an effective communication mechanism. Also, it ensures the synchronization of the activities of employees. Workers can interact with one another even from their homes or other locations. Such freedom and connectivity boost productivity, leading to improved morale, higher efficiency, and better profitability.
Small businesses and new companies think that investing in top-quality CRM software might be too costly. Also, issues with the application may pop up from time to time. However, many manufacturers provide top-class systems at reasonable rates. Plus, support is just a call away for quick resolutions.
CRM systems come as a boon for remote customer management not only during crisis times but also for regular activities. Without shelling out too much, it’s possible to get rid of potential problems and manage your customers, clients, and suppliers. Just check out – what is CRM, the basic CRM functions – detailed above. With useful info, you can make the right decision and choose the best system for your company.