The benefits of a CRM system
Why is a CRM important?
The benefits of CRM are not only diverse and interwoven in numerous ways. You also touch beyond your clientele to your employees and partners. The basis for everything is first the extensive yet targeted collection of data.
The benefits of CRM for your business, customers, partners, and employees
With a CRM system, you then first manage all the contact data of your customers and business partners in a structured and clear manner. They capture interactions and collect all the important information about them along the customer journey, the journey from lead to purchase. Without electronic support, it would be impossible to handle this mass of data. Information is forgotten or lost through employee turnover.
The basis for benefits of CRM: gain, find and systematically use data
Such data and its systematic storage and use are extremely valuable for your business. Trends in the behavior of your customers only become visible when the data sets can also be related to each other. The support of a CRM software then only offers you the advantages of CRM.
1. Transparency: The right data to access
If all customer data is stored in one central location, all employees can access the same information. This has advantages if an employee is not available and information is urgently needed. Likewise, information does not simply disappear with an employee when he leaves the company. In addition, a CRM system brings advantages for cross-team collaboration, for example for agile teams.
2. Efficiency and productivity: relieve your employees through automation
By storing the data centrally, your employees are relieved. When a customer calls, your employee can quickly access all information and provide courteous and targeted support to the customer. With cloud CRM solutions, this even goes from anywhere where an Internet connection is available.
For cases where network availability is not available, you need an offline client. So that you can use the data – with e.g. a mobile CRM on the tablet – can also be used offline.
Numerous automations make your employees’ workflow easier. This saves time in the right places. Your employees gain more freedom to deal with your customers and their needs.
3.Gain insights: AI, analytics, and metrics
By collecting a lot of customer information, your company can quickly access enormous amounts of data. In times of Internet of Things, data from your machines may also be added, for example when they need maintenance.
Only with modern analysis tools can these be easily evaluated. From this, you can in turn derive insights that enable you to serve your customers even more precisely, adapt your products to meet their needs, or identify business areas that should be optimized.
AI in CRM: One of the advantages of CRM in the future
A completely new space of key figures opens up, which you can use to your advantage. Some tools already rely on artificial intelligence (AI in CRM), which even takes the steps of evaluation and knowledge gain as far as possible independently. Then all you have to do is weigh up the instructions for action.
4. Strong ties: Loyal customers, partners and employees recommend your company
All of the above benefits are ultimately aimed at strengthening your customer loyalty and increasing new customer acquisition. The better you look after your customers, the more loyal they will become, which in turn will increase their customer lifetime value, their long-term value for your company.
One of the important advantages of CRM: retaining business partners and professionals
But the benefits for your relationships with business partners and employees are also undeniable. Young tech-savvy generations work with professional software support as a matter of course. With paper work, you only deter them.
While we are threatened with a shortage of skilled workers, a CRM system is easily used as an advantage in the fight for young talent. Here’s the keyword: New Work.
All in all, it is simply “fun” to work in and with your company.
5. Identify improvements: Optimization of all departments
Whether NPS surveys (NPS: Net Promoter Score) of customers, company and product evaluations, or suggestions from your employees – everything flows together in CRM. And that enables you to gain the insight to optimize your customer processes. This is then done, for example, in the form:
- of a stronger sales management based on the sales key figures
- a better marketing ROI through more targeted approaches
- of new or mature products and services by incorporating concrete feedback
Information that tends to get lost over time is thus always available for your analyses and provides the basis for beneficial measures.
6. Decision-making basis: accurate forecasts
The CRM system thus offers you a huge treasure trove of data that can be used specifically for analyses. With the help of the data, you determine whether your KPIs have been met, you identify reasons for success and failure, and you recognize further potential for improvement. In short: Thanks to the CRM system, you know which adjusting screws you need to turn in order to sustainably increase your success.
7. Exploit the advantages of CRM: More sales, more profit, more competitiveness
Contrary to the still existing doubters, data analysis enables previously undreamed-of possibilities in many areas (keyword: Big Data). The best proof of the emerging benefits are successful companies such as Facebook, Google or Amazon, which are built almost entirely on insights gained through Big Data.
The analyses of CRM data in interaction with other sources, such as analyses of other company data or public statistics, reveal new correlations, probabilities and decision options to you. Let this support you in your economic decisions. In this way, you increase your sales and profits, and in the long term, you stand securely against your competitors.