Your business organization is primarily involved in the business of interacting with your customers to meet their requirements. That would mean you would be focusing lot of attention on custom CRM. Not sure what the term means? Let us explain.
CRM stands for Customer Relationship Management
In business customer is the KING! CRM helps you to find ways to satisfy the KING…
How well you manage CRM would reflect how well you are managing your company. CRM has come a long way, the concept was given importance in the business sector starting in the early 1970s. But some companies fail to obtain sufficient data from the process of customer interaction and end up reducing their strategic advantage. This comes about because they have kept their CRM in the blind spot.
Customer Satisfaction – Making it DATA DRIVEN
CRM stands for a company’s interaction with its current and potential customers. The customer satisfaction surveys and its data analysis all form an important part of CRM. It focuses on building up your startup by increasing your sales growth. Anyone in the business sector would know how important it CRM is. It is a very important tool that helps the business firms to maximise its efforts on increasing its reach among the customers and also retain the customers you have.
Let us examine how customer satisfaction has economic implications.
- Increases customer loyalty.
- Reduces customer complaints.
- Reduces customer deflection
- Enables targeting profitable customers
- Integration of assistance through all channels
And indirectly it has these effects:
- Able to customize customer needs and thus enhance perceived quality of services given
- Helps to provide prompt service to customers
- Accurate processing of orders
- Improving customer service
- Customer segmentation
CRM helps to integrate customer information from all the channels is a very important feature. It brings together all kinds of information related to customers into one place.
Why is CRM so important for startups?
It helps in improving customer service by connecting the concerns from customers to the person best suited to answer their concern or questions. What happens next – the customer who has his questions answered with clarity is a happy customer! What more can a business ask for! He will definitely remain a lifelong customer of your services because he was given importance and his concern was handled efficiently. What this leaves you with is improved customer service and increased personalized service for other customers. If on the other hand just imagine if the customer’s call was not answered accurately, he will be agitated with your staff, will be calling back numerous times with the same questions.
Time Saving is another advantage – custom CRM helps companies have more personalized contact with its customers, this in turn leads to companies understanding them better. This also leads to increase customer knowledge. Every startup if it knows what the customer wants has won the half the battle!
Making CRM work for you
There are many ways of using custom CRM. Using different kinds of survey among your customers, using telephone or email surveys and these days even by using the social media. There are lot of tools and experts can help you with innovative methods to conduct CRM for your startup. It does not matter what method you employ to do CRM, what is important is that you give good focus on the data analysis done and see how this can be transformed into plans for your company’s progress.
CRM analysis should focus on:
- Why are you doing CRM?
- How can it be used to further your company’s business?
- Will it help you to find areas that need improvement?
- Does it help to provide centralized customer information?
- Does it help to facilitate communication?
- Does it track sales opportunities?
You can see how versatile the tools of a custom CRM are! Bear in mind different companies have different needs when you plan CRM. A company that has been doing business for few years will have a completely different need out of its CRM than a start-up. As a start-up company you will be giving importance to your potential customers, don’t forget your investors and advisors who are all important part of your startup. Focus on the people in each category and know with whom you want to build relationships and how will you further it.
Custom CRM Process – The Operational Part
The main focus of any CRM process is integrating sales, marketing and customer support unit of a business. These main 3 aspects or 3 pillars of business are integrated in such a manner that data from each unit comes together. Now you might be wondering how is that possible – it is through software systems. There are numerous software programs available to help you with this task. All the data gets compiled into a single view so you can analyse it easily. The role of these CRM systems in analysing this data helps the managers to come up with decisions that help in a startup business’s growth.
That is not all CRM also brings together other important stakeholders of the business such as vendors, suppliers, distributors as well. This is really helpful as one gets a 360 degree view of the concept. These people are excellent sources of information on customer satisfaction – for example they can give you information on the technical support aspect which in turn will help the firm to think of a new direction while selling these items to customers in the future. Any bit of information coming out of these CRM system will be beneficial for the business to grow.
CRM is a great asset to your startup:
- Helps the firm to have a catalogue of contacts
Business firms need to have a catalogue of contacts. You can classify them further into customers, lost customers, inactive customers, suppliers, vendors, primary partners, influencers etc. How to connect with these sections of people can be thought of next.
- Helps to track all customer interactions
You are contacting a customer, you have all the information you need. All the interactions with the customer is present in the system. It is similar to continuing the conversation from where you left last time. Sounds good, does it – this is the same feeling the customer will also get. This helps to bring long term relationships. You are essentially building up a loyal customer base because of this service.
- Helps to retain customer data
Updating customer information in the system is very important. People leave jobs all the time but if the data is recorded and as mentioned earlier the transactions are also recorded, then it does not matter if anyone from your team has left the job. Continuity will not be lost. Customer will not feel hesitant to hold conversation with you because he feels that you understand his concerns.
- Helps to give a forward view of business
You can think of a custom CRM as giving you the view of the future. It shows you the trends that will be the main indicators in terms of increasing sales and revenue. It helps in creating opportunities and also helps to spot problem areas in the future. A very pro-active way to look into business can be obtained.
- Helps in growth of business
Helps to get information on new market opportunities. One can get information on cross- selling activities. New startup ideas can also be formed by using data from this.
- Helps to replicate best practices
Business firms usually have ideas on how best to engage with its customers. Firms will want to provide best practices to its customers. CRM helps to identity best practices when dealing with customers and to enjoy more customer loyalty firms can continue to replicate these.
To sum up, Listing down the people who are important in your line of business and developing relationship with them and maintaining them and taking it further to enhance your startup that is what CRM does. Companies that invest in custom CRM put the customer at the heart of the system. This is a sure way of increasing sales and profits. CRM helps to make your business more efficient and increase revenue and gain a competitive advantage in your business arena.
Have any questions on how you can implement custom CRM for startup business? Contact us right away.