Customer relationship management (CRM) is a widely used model for managing a company’s relationship with customers, clients, and sales prospects. It describes a company-wide business strategy including customer-interface departments as well as other departments. CRM involves the technology to organize, automate, and synchronize business processes. It also takes care of those for marketing, customer service, and technical support as well. The overall goals are to find, attract, and win new clients and retain current customers. It reduces the costs of marketing and client service.
Most peculiar and new trends in CRM
1. Cloud based CRM preferred to be cost efficient meant for gathering customer data.
2. Social CRM- in advent of social media and networking created a path to interaction or get in touch with customers or end users. Basically customers are empowered with social networking sites to influence product,brand image and perception
3. Centralized data CRM-it aims in understanding customers through h extensive collection of data and analysis from customers database. It would help in maintaining relationship with a growing customers base.
4. Flexibility- that contends ease of integration and multichannel publishing and key corporate consideration it becomes important for users.
5. Crowd sourcing-in advent of social media –organization are enough competent of taking advantage of customer support through it for business improvements . it helps in improvising new new fresh ideas ,solutions and expectations that can help, providing innovation & interactive relationship. In content of all above mentioned trends of modernized CRM practices that revolutionized by advent of Social media i.g social CRM . as a very modern concept of content relationship management.
Think up before choosing new CRM software.
1. Sales automation: Sales automation helps In following in customer life-cycle from beginning to end from lead generation to conversion, retention and on & also useful for identifying bottlenecks in sales process which you can then correct.
2. Reporting: Reports save a great deal of time on menial admin work and give managers a method for analyzing the data that is impacting their business. Whether your CRM software has this feature should be a make or break deal.
3. Data Integration: Data Integration allows any user to view the sales, marketing and service leads relating to one customer at any time. The benefit of this function is that it helps to save time on manually collating that data.
4. Contact Management: Contact Management is a bog-standard feature which enables users to store and find contact information for their various clients. That means names, addresses and of course, telephone numbers and the information can then be shared across the business.
5. Automated Marketing: This feature automates lead generation, lead nurturing and client retention programs so that your Sales and Marketing teams can work on the stuff that matters. Using Automated Marketing can lead to Higher Revenue, ROI and increased profitability.
6. Security: In the world of CRM software there is a trade-off between usability and security, although, in many ways, secure CRM software can make it more usable. So before you buy, the most important thing you should do is to check the security features of your CRM software. In the worst case scenario, poor security features could result in a leak of your confidential information.
Reasons why bad CRM can down your business
1. Customers are impatient
2. Competition furnishes customer queries better
3. Customer database shows that customer they don’t like to return second time.
4. Good CRM- helps in reducing cost and wastage.
5. Bad CRM undermines service quality.
Halaluddin Khan is a Co-Founder of GadgetsandGizmosWorld. He writes about Blogging, Technology, Gadgets, Cameras, Mobile Phone Review ,Smartphone Reviews, Software & latest technologies.