What are the business benefits of CRM systems?

But let me ask you this – if this is the case, why do so many businesses take such a haphazard, hit-and-miss approach to

• getting new customers – and then retaining them?
• developing and nurturing relationships with suppliers?
• improving their employees’ job satisfaction by making their systems as efficient as they can possibly be?

And, of course, if your business can bring all of these elements together, your future growth and prosperity will be assured.

In this article, we’ll look at CRM (Customer Relationship Management) systems. We’ll examine the benefits of custom CRM systems – the different types of CRM and the crucial role they can play in getting new customers for your business, retaining those customers and, thereby giving you that all-important edge over your competitors.

What are the different types of CRM system?

A Customer Relationship Management system is software that will massively enhance many aspects of your business. There are three distinct types of CRM -

1. Operational CRMs

These help better manage your day-to-day operations, such as marketing, sales and customer service. They enhance your communications, enabling you to nurture relationships with your leads and clients.

2. Analytical CRMs

These help to track customer interactions - improving your customer acquisition and retention processes

3. Collaborative CRMs

These will strengthen engagement across your departments, suppliers or stakeholders

But the distinctions don’t end there. A quick look at the CRM marketplace will demonstrate how many different approaches you can take when acquiring a CRM system for your business.

You can choose between –

- Outsourced CRM solutions

These are usually web-based CRM solutions, including cloud CRM software – ideal if you need a quick solution and you lack the in-house skills to develop a system for yourself.

- Off-the-shelf CRM solutions

In the short term, these are generally the least costly solution. However, businesses can easily find that they become ‘slaves’ to the system – having to adapt their processes to its limitations. In the long term, this can prove to be a false economy. With your business tied to the CRM, you can become much less agile and efficient than you would be with a bespoke system.

- Bespoke CRM software

You buy a system that’s geared precisely to the demands and needs of your business. You’ll have a system that grows with your business – one that works for you. Not the other round.

- Managed CRM solutions

A halfway house between bespoke and outsourced solutions. You rent a customised suite of CRM applications as a bespoke package. This can be cost- effective but can mean you have to compromise in terms of functionality.

5 key benefits of a CRM system?

1. Improve your customer service

By using the data you gather on your customers’ interests, purchase history and preferences, you’ll have all the information you need to tailor your products, your services, and your marketing to your clients’ needs. This will strengthen your relationship with your customers and inevitably result in improved profitability.

2. Enhance your internal communication and information sharing

Does your business involve several employees working on each project? This is where an effective CRM system becomes invaluable. Without the smooth communications that accompany such a system, inefficiency – even chaos – becomes a likely outcome. Work moves slowly, often without control or direction. Small problems become big ones.

3. Automate your daily and regular tasks

Through the effective implementation of a CRM system, you’ll be able to automate those necessary but repetitive manual tasks. You’ll find that, as your processes become streamlined, complex, tedious tasks become straightforward, with the overall result that your employees are happier and more productive.

4. Improve the work efficiency between teams or departments.

Probably the most obvious instance of improved efficiency between departments will be found with your Sales and Marketing teams. For example, as your marketing team collects insights about your leads, your sales teams will be better equipped to handle those leads.

Also, with the effective implementation of a CRM system, marketing teams will be able to generate more qualified leads. The result? Far fewer wasted contacts and much higher conversion rates from your sales team.

5. Obtain better analytical data to improve the accuracy of your reports.

CRM analytics give your business much improved insights into your customer service and sales operations. This data will leave you far better placed to make the right decisions and to maximise customer lifetime value. With the right CRM system, this will happen in the following ways. You’ll benefit from

• accurate insights into your customers and how effectively your sales and customer service teams are reaching them.
• validating your customer data, analysing your customers’ habits and generating better leads.

CRM systems – countless business benefits

CRM systems can appear daunting and complex. However, the benefits they bring to businesses are unquestionable. If you want to streamline your customer relationships, develop more efficient ways of working with suppliers and improve job satisfaction for your employees, a CRM system could be the answer.

Of course, every business is different – which is where we come in. We specialise in tailor-made CRM systems that will perfectly fit the way you work. To find out more about how we can help you, get in touch today.

Your Web Alliance custom CRM system will be the perfect tool for both managing prospects as well as marketing to your existing customers. We design our systems to work for you - not the other way round. You’ll have all the data and all the processes you need at your fingertips, poised to work on your behalf.

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