Benefits of CRM Software-Getting a CRM system may be the smartest move your business ever makes.
A CRM (customer relationship management) service is a single software platform that allows a business to easily manage all of its relationships with both current and potential customers. With the right CRM, you’ll save significant amounts of time, money and resources. How exactly? We’re here to explain.
In this article, we’ll show you how CRM can transform your operation for the benefit of both you and your customers.
What Are the Benefits of CRM?
A CRM service is a single software platform that helps a business to monitor and improve its relationships with both current and potential customers. That’s a broad task, which is why we’ve broken down the main benefits below.
In each section, we explain how a typical CRM’s features are designed to benefit everyone involved in your business – including your customers.
- CRM helps you understand your customers better – Data on each customer is gathered together into individual profiles
- It guides better decisions from your service agents – Those profiles offer insights that power smart decisions from your agents
- CRM software helps you develop leads – This gives you the steady flow of new customers that any business needs
- CRM can boost customer retention – A low churn rate is key to staying in operation, period
- CRM software lets your service agents collaborate – The more organic collaboration your team sees, the stronger your company
- It speeds up internal communication – Avoid the biggest drain on company resources: poor communication
- It can guide the future of your business – If you ever need to add features or pivot, CRMs offer the decision-driving data
- CRM software costs less than you think – The right CRM is such a time-saver than it will pay for itself, to boot
While every CRM has a slightly different interface, one essential element is some form of a customer profile: A database of customer-agent interactions that groups each customer’s historical data into its own category. This lets agents see at a glance any given customer’s service history, complaint history, and any known demographic data.
When did your customer last make a purchase? Have they brought up a similar problem in the past? Do their contracts expire soon?
With a CRM customer profile database, service agents can answer these questions as fast as they ask them. The resulting satisfied customers will have their needs addressed almost before they realize they have a problem in the first place. They’ll consider new purchases, and recommend your services to others – making sure your bottom line stays healthy.
Your CRM’s customer profiles can be applied across all areas of a business’s customer relations, from sales to support to marketing to community forums. It’s this holistic, intelligent structure that is at the core of a good CRM service. You already have plenty of data on your customers, but you’ll only be able to take advantage of it if it’s in the right place at the right time.
A good CRM is designed to not just collect data into useful profiles, but to give service agents that extra nudge that helps them decide what move to make next.
A few different tactics help CRM suggest actions to agents. First is the design of the user interface itself. The typical CRM divides an agent’s dashboard into a journey: Converting a new lead into a customer, or a past customer into a higher subscription tier, might move their profile from one section to the next – mirroring their customer journey. This way, the agent sees their dashboard not as a static collection of customer accounts, but as a fluid, constantly shifting customer relationship.
Another feature that’s increasingly common in modern CRM software: An AI assistant. For example, Salesforce offers Einstein analytics, an AI that can be layered across all of the Salesforce CRM modules to directly speak to agents, offering data-driven insights when needed. Should you end a ticket after a one-on-one response, or should you consider reaching out to a targeted group of customers who might face the same issue but haven’t reached out about it yet? With the right AI, agents can be prompted to take a more proactive approach to keeping customers happy.