Databases are the most frequently used feature of CRM packages. The database for many companies provides all the information about their customers. By using the information and details stored in their databases companies hope to better understand what drives their consumers when they make purchases and learn to take advantage of their urges or desires to ensure that their product or service removes a vital asset to the consumer.
Databases do not just store consumer information they can be used to develop a multi-step process for marketing and advertising campaigns. Companies have the ability to make CRM databases as complex and detailed as they desire. Outlook programs are routinely incorporated into CRM databases providing more options for companies who want to make use of email marketing as well as analyze and review customer data.
Beyond contact information such as address and phone numbers of existing customers a CRM solution offers business a way of tracking demographic information about customers to learn how best to connect with them. By knowing the household income, family size and geographic location of a customer a company can choose the best method of getting their attention.
For example, a small company with a mostly online presence and one store location might choose to hold a special store based event. By knowing the geographic area of their customers they can send email invitations only to those who live within a certain radius. They can also customize their mailing to include information on items in the store and deals unavailable online. For a family of four with two children under the age of six sending an advertisement that offers half price on the purchase of a second educational toy would be more effective than a generic mailing.
Companies do not just have to store information on their customers, employee data also needs to be kept securely and accessed as needed. By making use of Excel and other spreadsheet programs companies have a cost effective and easy to manage system for the storage of customer data. Eliminating the need for paper based systems, which require a lot of time to maintain and can make important information harder to find. CRM databases put Employee ID numbers, contact information and schedules directly where managers can get the most benefit. Allowing them to access information to see how proficient and proactive employees are at closing sales leads, track how many calls they have completed, determine sales quota and mark other areas of progress.
Reporting and tracking are two benefits of using a CRM database. A company can easily run a report and track which products are more likely to convert into a sale or analyze which group of customers are more likely to make a purchase. A database can also be used as a way of analyzing how future growth could affect your business and observe changing trends in customer spending. The ability of a database to be the basis for a companies marketing plan cannot be ignored.
It is cheaper to keep them! Small businesses may not realize the amount of money that is required to attract new customers. By using CRM to make existing customers satisfied with your business, your business is much likelier to avoid financial ruin.
The days of the water cooler approach to spreading information about a business or service no longer holds as much sway as it did 10 years ago. Today when a customer wants to tell a negative experience he or she goes online. Now their negative experience that could have been told to a few people in person can be seen by hundreds of people through blogs, forums and social media Web sites.
Businesses have to work harder in today's economy to keep customers loyal. Businesses today have more competition as companies offering similar services compete for the clients' money. In times of economic crisis this competition gets even fiercer, competitors may lower their prices in order to attract customers with less cash to spend, if your business plans on remaining successful, cutting prices might be the best option.
Additionally, businesses have to compete with themselves. A business that impresses a company in 2007 with superior customer service, may find that as their business expands, employees spend more time placing phone calls and attempting to reach customer. As the task of the employee increases, their job satisfaction decreases, as does their enthusiasm for the job. A customer who calls in to the same call center today may find herself faced with rude, pushy and impatient employees trying to meet a sales quota and ignoring the customer experience.
Using CRM kills two birds with one stone; it allows a business to automate services so employees save time and spend more time on meeting the needs of the customer. A CRM solution also helps the small business succeed over the competition. For example, a customer may consider switching to a company with a slightly lower price for their product or service. Would they still make that decision if that company has a bad reputation? How about if the competition has received multiple negative reviews in blog post and consumer watch groups? Probably not.
The power of positive press for a company should never be taken for granted, having one unhappy customer today can lead to two tomorrow, especially if several employees are feeling pressurized and not taking the time to ensure customer satisfaction. With a well-organized CRM program, employees can have call numbers assigned to them by a manager and calls can be made through an auto dialer program to save employees time.
Managers should also have the option to verify that employees dial numbers and complete sales calls as well as reassign work if employees are unable to complete by deadline. CRM increase efficiency in the day-to-day operation of a business, allowing managers to track how much work an employee is doing and provide information for writing employee performance reviews and dealing with employees who just are not getting the job done.
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