Are you in the market for a new Customer Relationship Management (CRM) system? Do you even need a CRM to help manage your business? Are you an SME or a large corporation? Have you plotted out what minimum specifications the system must have to meet your business’s unique requirements?
There are many questions surrounding the need to purchase and implement a CRMs in the business world today. By way of answering these questions, let’s first unpack what a CRMs is, and then we will be able to determine whether such a system will add value to our business.
What is customer relationship management?
According to Webopedia, customer relationship management is “is all aspects of interactions that a company has with its customers, whether it is sales or service-related. While the phrase customer relationship management is most commonly used to describe a business-customer relationship (B2C), CRM is also used to manage business to business (B2B) relationships.”
Businesses need to manage their customer base very carefully as their customers are a cornerstone of any business. If a business is lackadaisical about managing their client base, they will end up losing customers.
Will a CRM system add value to your business?
There are many different CRM systems in the marketplace, each with its unique specialties; however, the basic question remains – do you need to purchase a CRM system? Will it make that much difference managing your business?
In my own personal and business experience, I can tell you that, without a shadow of a doubt, a customer management tool is worth its weight in gold. An easily-customizable, open-source system is well worth investigating. Because it is available in the cloud and is open-source, it is a flexible system which is easily customizable to suit your unique business requirements.
Ways a CRM will add value to your business
Modern customer relationship management tools offer a holistic, or 360 degree view of all your customers. In a nutshell, this means that this tool can monitor all the different online channels, including social media platforms, in order to record understand what your customers are saying about your company; thereby, resulting in improved customer relations and customer management. If, for example, certain customers are opining negatively about your products, you will be able to intervene before it has a negative impact on your brand.
These tools offer you the opportunity to build your media marketing campaigns around your customer’s geographical location. You can group your customers according to these locations, which will enable you to market the right products to the right customers at the right time. In this manner, you will then be able to drive sales growth as well as retaining customers who are loyal to your brand.
The difference that a holistic customer relationship management tool will make to your business has been clearly documented. The question is not whether such a tool, or suite of software, will make a difference to your bottom line, it is rather which tool will suit your business best.