CRM (Customer Relationship Management) is software that allows businesses to manage business relationships and information associated with them. It provides a platform that manages interactions with customers, stores information about them, and automates processes connected with the customer’s journey through the marketing and sales funnel. A Customer Relationship Management system helps to improve business relationships with customers by improving customer service, increasing sales, enhancing productivity, and increasing profitability. It helps in managing interactions with existing customers and potential customers.
How CRM Can Help Your Business?
CRM helps in consolidating data from multiple systems and people.
In the initial days of business, tracking customers by email, address books, and spreadsheets make sense. But when a business starts growing then we can see some challenges such as:
- It is hard to sync data between Spreadsheets used by different teammates
- All of the valuable information lies in the employee’s mailbox
- Inconsistent communication between employees and customers
This is where CRM plays a major role. This is the reason CRM is the fastest-growing software in the market today. As per the Grandview Research survey – CRM was a $14 billion industry in 2010 and is expected to reach $80 billion industry by 2025(nearly 600% increase).
Companies are investing money to buy the latest CRM application and spending time on their implementation. But an estimated 25% to 60% of CRM projects fail to meet expectations, according to studies conducted over the past decade. We need to understand the big gap in expectations and results.
To understand the gap in expectations and results we need to understand that CRM application is not a pushing button where everything happens automatically. It takes careful attention and proper planning to make it right. So, the successful implementation of this powerful tool is the key to business.
Steps to make CRM a successful tool –
Training CRM users is an integral part of making it a success. If the user resists learning the functionalities of CRM, then more chances of failure.
When deciding on the Customer Relationship Management project, specific goals and targets should be there. The workflow in the application should be as per Vision. And flexibility is key while making a process.
This application is not just a technology but a solution to enhance customer relationships. Technology alone cannot improve customer relationships. CRM’s technology is successful and value for money with the combination of smooth workflows, used by well-trained staff and managed thoughtfully.
CRM tool is a powerful tool for boosting the efficiency of a business, helps in improving a process, and provides insight into the sales cycle. CRM’s core functionality is – to enhance customer relationships by keeping the information in one location.
Designing a CRM system is not a simple task. It’s a multi-step process starting with defining an outline into a workflow, management of data, unifying data for discovery and analysis, and identifying data sources of interest (whether from inside or outside the organization).
The company’s growth and expansion plans should be kept in mind while preparing the CRM process.
CRM project is divided into manageable pieces such as checking the workflow, user testing, and employee training. To make the implementation process smooth and successful, it is essential to manage steps with feasible timelines.
According to usability, the software may require some changes or tweaks as a business grows. Bitsys Technologies can help you at every step of the implementation & production process.
Choosing the correct product is important. Such as buying the cheapest software solution but realizing later that even small customization can lead to more expensive. In another case buying an expensive solution with multiple features may be of no use.
CRM software is designed for the benefit of an organization with the scope of customization, multiple modules, and add-ons. But some companies try to use all the available options at once rather than using those that are useful for them. It makes the process long or complex for the user to understand. The smooth process can help in adaptation by the user.
CRM should have a measurable objective that can be easily tracked, analyzed, and evaluated. This helps in making changes as and when required.
If the CRM system is not properly designed and implemented, users will either avoid using it or use it in such a way that makes the process less efficient.
All stakeholders should be involved, whether it is the sales or marketing director or CTO or COO, or mid-level IT manager. They should have the time and ability to plan. Otherwise, that CRM project will crash.
Data in CRM
Data entry should be proper, otherwise, it can make employees skeptical about the information in the CRM. For instance, if the system has wrong names or phone numbers then a salesperson would be reluctant to use the CRM database. To avoid such problems, we need to provide adequate user training and documentation to make CRM effective.
CRM is never perfect because business is always changing. Bitsys Technologies can customize the solution that fits your needs. Bitsys Technologies will not stop after implementing the project but even after finishing the project, checking regularly with you, and helping with ideas and support to make it a successful tool. It is not a destination, it’s a journey.
Looking for a process to engage employees with CRM? Bitsys Technologies is there to take you through the journey of implementing CRM.
The only way to protect what you’ve worked hard to build is to be vigilant when it comes to cybersecurity. If you’d like to know more about how your business can benefit from managed services, just give us a call, we are here to help.
CRM is an adoption of a brand-new way of thinking – of a customer being at the heart of the business and all information is kept in one centralized database.