Over the years CRM has proven to be a pivotal part of every business. Customers want to feel special and they want to perceive that the organization they are interacting with is treating them individually. This is exactly where your CRM software will play an influential role!
Consider the case of Mr. X who has been a new customer with your organization. In his first interaction with the company, he makes it very clear that he prefers to travel in a Non-AC car owing to health issues. After 2 months when Mr. X contacts the company again, they will assure that a Non-AC car will be sent to him due to his health issues. Mr. X is sure a happy man because he feels special. He is impressed that the company remembers him and his conditions and decides to stick to the company forever.
This is just a simple example of what wonders custom CRM can do to brighten your efforts to satisfy a customer.
The Growth of the CRM industry has not seen South. The numbers and resources involved are increasing by the day.
Let us delve deeper and understand its nuances in a better manner.
What is CRM
CRM or Customer relationship management system is a powered technology that the company uses to manage its relationships with customers and potential customers. The goal is crystal clear: Improve business relationships and improve your revenue. A good CRM system will enable the company to streamline business operations stay connected with customers and improve profitability.
A CRM system provides everyone from sales, business development, from recruiting to marketing a better method to manage external interactions and strengthen relationships with customers at all contact points.
Why do you need CRM?
If you are looking to grow and create your brand, CRM is an absolute must.
Lead generation and conversion is important, but do you know where the real money is? Yes! It is customer retention. Investing in efforts towards customer loyalty can enhance your profitability by 95% and this is why CRM is necessary. Track via has enumerated that CRM has helped improve customer retention by as much as 27%.
- By 2025 the CRM market will have been increased to $82 billion growing at 12% every year.
- About 13% of companies say that investment in CRM is one of the most important sales tasks.
- 64.2% of businesses believe that investing in CRM has increased their bottom line.
- CRM is now considered as an important part of sales next to lead generation and customer engagement.
Understand that the size of the business doesn’t matter while deliberating on whether your business needs a CRM software or not. We believe that every business works on one common goal and that is to satisfy the customer, but we also give you other reasons for including CRM software to drive your business.
“How you gather, manage and use information will determine whether you win or lose.” -Bill Gates
Why use Custom CRM development?
With so many ready-made CRM solutions available in the market, you might think twice before opting for a tailor-made CRM. But we believe that no solution is a one size fit all. All companies are unique and have different business demands. With a generic CRM software, not all your requirements will be covered, but a custom-made CRM, on the other hand, will be designed for your specific requirements. You have the power to choose which processes to automate and who will have access to how much information.
Personalization is the basic understanding of the preferred needs of the customer and reconstructing your treatment based on how they like it. When you combine it with CRM, the ulterior motive becomes to retain customers and develop the organization strategy and process for continuous growth. From the perspective of technology, personalization can be classified as push and pull. A push strategy, as the name implies is more bent towards pushing content towards the user. A pull strategy is when the customer comes on the lookout for content about his need.
With CRM companies can make use of the information and accordingly make strategies for personalization.
Custom CRM will be a storehouse of all important and private information of the customers, so it will also help you to ensure that the safety of the data is not compromised at any cost.
With custom CRM you can craft your CRM with security and right from the scratch can ensure that all your systems will be safe. The best part about a custom CRM is that it is not rigid and is scalable. It will grow and change as your business grows.
If your business is beyond sales, then you need custom CRM. And not just for your customers but also for your vendors, your investors, and your internal employees also. CRM software is extremely useful for the following applications:Source: Superoffice
Where custom CRM can be used
HOW CRM increases your productivity
Some of the most popular CRM packages have a multitude of features like multi-channel connect, performance analytics, process management, sales and marketing automation, team collaboration and much more. A lot of these features are not required but you are forced to take it and also pay for it. These options can also be confusing and can prove to be a time-wasting process.
For an organization like yours where your prime goal is to focus on your specific goal, a customized CRM will go a long way in improving your productivity.
Reduce clutter: A regular standard CRM offers many options that can be customized with checkboxes. But too many options and check boxes will confuse the user. Hence to reduce the clutter Custom CRM brings the advantage of bringing only those checkboxes which you need the most.
Design Custom modules: Custom CRM can be used by many people. So you have people from the sales department who are using it, or inventory management team who use it to manage inventories. Whoever the user is, a custom CRM developer will take into account your entire business model and will create a compact CRM module with the required fields. No more conflicts especially related to data!
Intersection of sales and marketing: A generic CRM package will separate sales and marketing channels but a custom CRM tool will tend to converge the two by improving processes like follow up leads, customer engagement, enhancement of communication. This helps maintain transparency between the company and the sales & Marketing department.
Feedback and Performance Analytics: Customer feedback is one of the most valuable insights a business can get. Custom CRM can help reduce lacunas in the system by capturing the feedback and inserting it into the system.
Deployment: A cloud-hosted deployment is a way of operating on custom CRM. The cloud-based deployment helps easy and quick access to information in any corner of the world. With information ready on your device, custom CRM can help boost productivity like never before.
Benefits of using customised CRM for your business
People who work in sales and marketing are well-aware of how CRM is beneficial. WE highlight 15 ways customised CRM can boost your business and its prospects.
1) Boost sales team coordination- A smooth collaboration of the sales team with overall business goals will go a long way in establishing productivity. From managing internal communication to keeping track of the sales team activities custom CRM offers a comprehensive view of how every team member is executing their task and how effective they are in closing the deal. It also helps increase productivity by 14% especially when salespeople have access to CRM.
2)Manage Data- Your custom CRM tool will help you to organize leads maintain customer information and present further sales opportunities in one centralized dataspace. This makes your data management and helps you make better decisions. In fact with about 82% of sales personnel claim that using a mobile CRM has improved the quality of data at their disposal.
3) Business insights- Did you know that 30% of marketers have implied that uneven data source is the main reason why they cant flesh out useful insights from customer data? But with custom CRM, you will be able to glean useful insights by monitoring and analyzing data. Not just that it also helps in ascertaining new revenue cash cows and helps you to build future strategies. For a better conversion rate also, custom CRM helps in incessant monitoring of KPI’s and provide a 360-degree purview on crucial aspects.
4) Target segmentation- Custom CRM helps in segregating key buyers from prospective buyers. With this, you can identify the best accounts and carve a marketing strategy that suits the targeted group. This will also help you to serve your key clients in a better manner. With segmentation, you will also be able to discover newer markets and untapped potential.
5) Customer engagement- To ensure your customers have a positive experience every time you touch them, personalized CRM is necessary. A good CRM system will ensure that your employees can effectively engage with them thanks to the data they have on customer history.
6) Augment Online marketing campaigns- With an effective CRM system, marketers have access to information about customer demographics, personal likes, weak points and much more. It helps you create promotional ads that are better suited for target customers. Closing customer deals is an arduous task and add the burden of wrong promotional strategy, your woes are about to increase! 30% of companies inform that closing deals in today’s time is more difficult compared to 2 to 3 years ago.
7) Easy tracking of Order and Sales- You can reduce human errors while keeping track of your numbers and orders. From tracking inventory to purchase orders, invoices, sales orders, and much more, a custom CRM software will help you organize these tasks effectively.
8) Improve Productivity- CRM helps your field team by proving them with customer information on the Go. With CRM on mobile, field teams can direct their efforts productively towards relevant data and target customers who are hot on conversion.
9) Identify product sales trends- When you know what your customer wants, you are in a better position to meet their demand. This is where a personalized CRM platform is of great help because it helps you compare historical data and current purchases which provides important insights on making a new marketing strategy.
10) Streamline IT assets with CRM development- As your business grows, so will your IT infrastructure. This means that maintaining the different systems of application can be an expensive and time-taking affair. CRM helps in streamlining IT assets because it provides a centralized data source with a single user interface. There is no hassle of switching from one application to another because all the information is in one place.
11) Customer retention- Custom CRM is all about knowing your customers and what they consider before buying your product. A well-developed CRM platform constructed by an astute CRM developer will help you access information that provides fodder to your customer acquisition strategy and ensure that they stick with you. A close to 47% of CRM users said that CRM indeed had an important role to play in customer retention.
12) Analyze employee performance- Custom CRM helps to analyze the work of every employee and evaluate them strictly based on in-depth data you have. It will help to see how many deals a team member has closed, what has been the status of cold calls and who is struggling to make a mark.
13) Streamlining reports- With its user-friendly features you can easily generate important reports like lead generation report, sales report, call log reports and also the most profitable service offering report.
14) Speed up the decision-making process- In businesses, you cannot make snap choices. You must have the pre-requisite data to take the right course of action. For any business, if you have real-time data available the ability to make decisions increases.
15) Improves brand credibility- If you plan to improve your brand standing that consistency is the key. When your customer experience hassle-free service at their call, your credibility improves.
CRM success story – Coca Cola
There is a lot that can be learned from companies that have adopted the system in their business operations.
Coca Cola, Germany – The iconic brand of the Youth, Coca Cola despite its resounding success found something missing. It wanted to improve the customer experience and take the company to another level. The company was performing well, but it needed to do more to beat its competition.
Coca Cola had in the past inculcated quite a few systems and technologies to do so but with little success. But with the help of custom CRM, it was successful in building custom apps on the CRM platform. The CRM was like a giant toolbox that helped the company build new applications that became the recipe for success.
Everyone became connected to the customer thanks to the wonderfully structured custom CRM.
CRM is a must for every business that looks at expanding its network and improve brand recognition.
We at Chapter247 work in partnership with the clients to build their custom CRM not just to improve business processes but also increase your revenue and profitability.
“You don’t close a sale, you open a relationship if you want to build a long-term, successful enterprise.” –Patricia Fripp