Customer Relationship Management is the one of the tremendous enterprise solutions that focuses on improving company's relationships with its customers. This means if you get right CRM solution, you'll see growth on both the top and bottom lines of the organization.
With CRM organizations easily track and leverage every customer interaction and thus improve customer loyalty. But CRM products must do much more than only a track customer interaction. Modern CRM solutions greatly boost the efficiency and productivity of marketing, sales, and service people.
These solutions can greatly help organizations optimize their operations by automating routine tasks and by standardizing best practices. In due course, CRM must enable organizations to well acquire, skillfully manage, serve, and rightly extract value from their customers while greatly improving operational efficiency.
Following are the top benefits of CRM:
1. Organizations get the customer insight and a real-time information pipeline.
2. This results in accurate and timely forecasting.
3. This permits companies to build and focus on high-profit, sustainable customer relationships.
4.CRM also offers customer intelligence and best practices to raise their likelihood of successful transactions.
5. Other commonly-cited CRM benefits comprise increased customer acquisition, loyalty, retention, and profitability.
For many years after the advent of CRM system salespeople resisted its use. They feared that the prevalent use of this solution would sternly restrict their value to the company. In fact, in its initial days, CRM was considered a costly technology with uncertain results and value. It was considered as only a customer record system.
Modern CRM is agile, affordable, and simpler to use -
But generation after generation CRM system improved by avoiding the mistakes of their predecessors. The system became more agile, affordable, and simpler to use. Consequently, it became more affordable with relatively limited costs compared to setting up a new manufacturing unit with hiring costly sales and customer service representatives or investing capital to acquire other companies.
Inserting business intelligence (BI) and analytics capabilities within CRM provides splendid benefits.Topnotch CRM systems build data warehousing right into the analytic process.For instance, a manager can-
1.Easily view current and historical results of his/her accounts
2.. Interact that with reports by sales rep, industry, geography, and many other relevant data.
Possibly the most prominent CRM trend is mobility-particularly device-independent mobility-
1. Rich user experience
2.Allows task-oriented user actions.
It enables sales managers to forestall changes swiftly due to its ability to execute historical and comparative trend analysis and the greatly match it to current information. This capability is provided in a near real-time dashboard that shows key performance indicators graphically. These indicators can easily be customized according to an individual sales manager's needs.
The recent trends smartphones with Web browsers have become standard, because their ease of use and this encourages mobile CRM adoption, and there is growing support for employees to utilize their own devices as opposed to employer-supplied devices.