Many companies now view customer relationship management (CRM) tools as an important part of their business, because of their huge capabilities. CRM’s are like an extra member of your team – providing reports, analysing and collating data, identifying sales opportunities, automating marketing processes (such as autoresponders, follow up e-mails etc.), plus much more.
They are also, of course, there ultimately to manage your relationships with your customers and potential customers. And one of the major benefits of this part of the software includes keeping all the customer information in one place, with easy access from other parts of your organisation, if needed.
CRM effectiveness and customer service
This means that if a customer has answered questions previously, or has expressed a certain dislike or like of a product or service, this will form part of their profile. Communications can be customer-specific and targeted to the individual, so they are not alienated by receiving non-relevant, ‘spammy’ communications and offers.
It is the seemingly little things like this that make a customer feel valued, and will encourage their loyalty. And increased loyalty means increased revenue.
Tracking CRM effectiveness
But are you making the most of your CRM system? It could be that you are not taking full advantage of what your relationship management software offers. Or, it may need a ‘tweak’ in the sort of rules you set up within it.
So, how can you measure your CRM effectiveness? There are many ways to track and work out just how hard your CRM tool is working for you.
For marketing, look at activity such as:
- The number of new contacts;
- The number of opens
- The numbers of interactions, etc.
For sales, it can be data such as:
- Sales volume;
- Additional sales;
- Cross sales;
- A tangible increase in revenue that can be directly attributed to your CRM tool etc.
Once you have carried out this exercise, you will be able to see how your CRM tool is helping your business. If you feel it could be doing more for you, or that you are not using it to its full capabilities, then you may benefit from speaking to a specialist for help and guidance.