Techblog
10 Things You Should Know About CRM
With business processes relying more on automated systems, companies can collect more useful data on customers than ever before. Customers are also more willing to interact with businesses online, or through their mobile phones, which are great sources for data collection.
However, plenty of businesses, especially SMEs, don’t put this data to effective use. For them, Customer Relationship Management (CRM) holds great potential to take their businesses to the next level. Companies can improve customer satisfaction, and even generate more leads by using data to support business planning and activities.
Here's what you should know about the world of CRM:
1. Business processes remains mostly manual - 80 percent of SMEs in Asia don’t use systems that generate automated quotations or invoices. For many, this is still a tedious task, and a lot of paperwork.
2. Customer data is still incomplete - 90 percent don’t have a complete profile of their customers. (SoftSolvers Research)
3. Mobile apps are connecting customers to businesses - Mobile applications are changing the way companies interact with customers, both on the customer end as well as giving front-line staff new tools to proactively engage with users. It is an important opportunity and channel for businesses to gather more information to better understand your customers.
4. Prepare for digital disruption - Companies are being pressured to being more "experience-driven". Customers demand goods faster and at a wider variety, thanks to the instant-gratification cycle of online retailers, and being able to predict what customers wants will come out of CRM systems. (Forrester Research)
5. Your competitors are getting CRM software - In spite of the economy's woes, CRM spending continues to grow. And in fact, it will be one of the top software priorities into 2014. (Gartner Research)
6. Big Data is here, from many devices - More than 70 percent of Chief Marketing Officers feel underprepared for Big Data. Furthermore, more than more data is being generated by the "Internet of Things", ie devices that are not strictly PCs. CRM systems will be needed to collate all this information and mash it together against customer data. (IBM)
7. Self-service is in full swing - Today, customers want self-service functions. They would rather find out how to solve something. An effective CRM solution can catch a customer in need of help at a website and pop up a Web chat to assist them. Don’t expect customers to pick up the phone and call for help. (Peppers & Rogers Group)
8. Social media is another channel to track - Your customers may not call you up with feedback, but you can be sure they’ll take to channels like Twitter and Facebook to complain (or compliment) your service. Feed these channels into your CRM software to gain a new layer of insight into mass opinion.
9. The cloud is helping companies dip a toe into CRM - Gone are the old days of CRM implementation, from setting up the software to buying dedicated hardware for it. Today, many CRM vendors are offering their wares over the Internet. All companies have to do is sign up and jump into it through a browser.
10. CRM can translate to sales leads - CRM isn’t all about monitoring what customers want; an effective CRM strategy will make your company more personable to customers, and allow you to predict what else they could want out of your portfolio, opening the door to an even deeper relationship with them.
Second CRM is a Software-as-a-Service CRM solution, crafted specially for SMEs. Especially built for companies who have never used any tool other than Microsoft Excel to manage their customer records, Second CRM is the solution to manage and track interaction with your customers and leads. At less than $1 a day, you can start your CRM journey today. Sign up for 30-day free trial now.