It is a known thing that CRM is meant to change the business game up a notch. But there are several other lesser known tasks a CRM system can do for the benefit of your business. There isn’t perhaps any other application or technology that serves the purpose of companies better than CRM. What many businesses do not realize is that how effective CRM applications can be when it comes to using it for their benefit. CRM technology holds the potential to benefit your company in multiple ways.
Let’s sum up the several uses of CRM technology and how it can be helpful to your business, as below:
- Provides Easy Access to Information
CRM on cloud can facilitate instant access to sales and support activities also allowing a customizable view. The sales and customer representatives and management can have complete access to the customer buys, histories, inventory information etc. at any location from a web browser or mobile.
- Provides High-end Sales Tools
CRM enables companies to generate leads by making use of software that helps in driving shorter sale cycle. Companies can also make use of CRM technology for creating workflow rules, customizing automated sales processes, and managing orders.
- Manages Sales Activity by the Sales Representatives
CRM helps businesses keep track of what their sales team is up to. Whether or not they are making calls to prospective customers can be managed. CRM enables a sales leader to instruct his / her team to meet the business objectives.
- Helps in retaining Existing Customers
CRM can help in retaining existing customers by identifying the repeat customers. It can notify your sales team of customer’s purchase cycle. It also keeps all the history with regard to the purchases made by the customer. This technology has also proven to be helpful for cross-selling other products on the same platform.
- Better Decision-Making
CRM throws light on important information with regard to a business. Business owners can benefit from this information which comes in the form of detailed reports on sales forecast, returns on investment and business performance tracking. This helps businesses decide to choose between potential business opportunities and also manage the problems efficiently.
- Improvement in Customer Services
CRM technology enables employees to assign, manage and resolve issues with automated routing and queuing. This paves way for smooth functioning of the employees with minimum amount of conflict and chaos.
- Efficient Management of the Data
The data that is stored in several locations and is fragmented into many parts can be difficult to manage and even find. A CRM system helps you manage the data efficiently, and not just that, it also helps in improving the quality of data, by keeping data connected to a central database and making it accessible and actionable.
- Build Customer Loyalty
CRM stores information of the customers which comes in handy to employees and helps them understand each customer better. This ensures there is better customer bonding and hence increased customer satisfaction and loyalty, ultimately boosting the reputation of the company.
- Improved Productivity
Sales and Marketing functions can be efficiently integrated and automated through CRM. When important data is stored in a common environment which is useful for all employees, they can access and share it to work towards boosting the company’s productivity.
- Provides Insights on Necessary Data
A CRM system gives insight on the necessary data which will help employees take appropriate action. For instance, the number of accounts inactive can be prompted to reactivate by using CRM applications.