With the huge amount of information that is available on the internet today, it is often hard to select what applies to your business or even what expectations from a CRM you should have. So, what can CRM do for you?
CRM saves you time – and money
First of all, it is a good idea to have all customer interaction data centralised in one database, because it saves you expensive data management time. It also means all your teams can see all data in relation to an individual or a group of your customers. This speeds up the decision-making process and your employees can organise themselves better according to the hard data: knowing which leads are hot or cold allows them to take appropriate action, focusing their energy in the right direction.
CRM saves you effort
By offering you analytics and automatically assigning tasks to individual employees, CRM makes it easier and far more straightforward to do your project management. The effort you save on routine tasks now can be dedicated to tasks that actually make you money!
Boost your customer interaction
With the database full of useful data, the insight into every customer account is much greater. So when your Sales or Service & Support team get in touch, they can use all this data to your advantage. This makes your team look really professional and worth doing business with. Moreover, CRM makes it possible to automatically assign prospects to individual representatives, which helps create a tighter relationship between your company and the client.
Increases revenue and slashes costs
So you save time on mundane administrative work and money by focusing your effort where it should be. But it gets even better. By knowing your customers more intimately, you can now predict how much they are likely to spend with you and even who your competition is in each particular case – so you can actually calculate what margin you are safe to charge. Forecasting doesn’t end here however – there is much more that CRM analytics have on offer.
Forecasting & reporting
From your current service demand, the system can calculate probable future demand trends, as well as guide your strategic adaptation to these. Forecasting lets you see how much money you’ll make this month – so you can plan your expenditures more comfortably.
To make sure you work efficiently, Microsoft Dynamics CRM now presents industry best practices, which means you can follow pre-tested ways of closing deals faster and making your customers happy on the way. You can improve your business processes and save money while being more efficient and moving faster.
Better relationships in the workplace
Since everybody has access to the same data, it is easier to agree on criteria that need to be met by Marketing before a lead can be called ‘qualified’ and passed onto Sales. And even when they Sales call a lead that needs a bit more nurturing before closing – no problem – it can be recycled back to Marketing.
Coordination & customisation
When you pick a CRM system, make sure it aligns with all the software you’re currently using. For example, Microsoft Dynamics CRM aligns seamlessly with your Microsoft Office package, making it simple to extract whatever data you need. This CRM system is also very flexible so you can adjust it to your own business processes.
Depending on the size of your business, you can decide which features you want to implement first and as these bring results, you can add on more so you gradually increase your turnover. As you grow, you can eventually implement other CRM-compatible solutions such as Marketing Automation, Sales Force Automation and Service & Support Automation, which will leverage your CRM efforts even further.
For whatever reason you’ve read this article – whatever can be improved in your company – just remember CRM is not a one-trick pony.
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