It’s relatively convenient to maintain a repository of customer details in the initial days of the business. But it becomes increasingly challenging to do so as the business grows. As you move towards having a company with a rich and diverse customer base, you will find it progressively challenging to collect and manage critical customer data. Moreover, growing businesses also have to handle various sales and marketing touchpoints such as website, email, live chats, phone calls, and social media. Today, we live in the age of data, and growing businesses need to get a comprehensive outlook of their customers’ needs, wants, desires, and ambitions.
This article will shed light on why growing businesses need Customer Relationship Management (CRM) software and the benefits they will draw out of it.
1. CRM systems perform customer segmentation.
Customer segmentation is necessary to gain a 360-degree perspective of your customers. CRM systems will help you categorize all your clients based on the following parameters:
a. Geography
b. Demography
2.CRM systems manage sales reporting.
CRM systems provide growing businesses an efficient mechanism for sales reporting that includes measuring the following parameters:
a. Emails
b. Calls
c. prospects reached
d. Prospect to customer conversion ratio
e. Customer buying journey
f. Face-to-face appointments
g. Video conferencing appointments
With this information, you can figure out where a particular customer is in the buying journey — awareness, consideration, or decision — and how you can help him make the final purchase.
3. CRM systems improve customer satisfaction.
Customer satisfaction is one of the top priorities of every business. Do you know that it’s approximately 5 times more expensive to find new customers than retain existing ones?
For ensuring top-notch customer satisfaction, you need to provide them instant help through multiple channels. CRM systems can be easily integrated with chatbots that provide instant solutions to customer queries. They can collect critical customer data and store them in the client database for future use. In case they fail to answer, they route the question to a human agent.
