How to Tailor CRM Solutions to Meet Your Business Needs
Customer Relationship Management (CRM) is a system that companies use to manage customer interactions. It includes all sales and marketing operations aimed at optimizing the quality of the customer relationship, increasing loyalty and maximizing revenue and margin per customer. The CRM options on the market today are not “canned” products. You can create and tailor your solution to meet your specific business needs. So if you choose one with for example six or seven modules, you can isolate and select the modules that make the most sense for your business.
Here are a few examples:
Optimized Inventory and Purchasing Data
If you have a retail company, then inventory and purchasing data is very important. You may already have an accounting system in place but you could opt for inventory and purchasing modules and use them in conjunction with your accounting system.
An Improved Selling Process
If you wish to increase revenue for your company you can customize your CRM solution to focus on improving the selling process and opening up new avenues of business based on a comprehensive view and customer prospect intelligence available from CRM analytics.
More Efficient Sales
If you are aiming to reduce costs, you can unitize CRM to reduce inefficiencies that cost your business money. You can reduce customer acquisition costs by making sales more efficient, allowing sales people to call on more customers with a more relevant message and purpose.
A Complete View of Your Customers
If your goal is to increase margins, leveraging one of the most powerful features of a CRM application, the complete view of the customer and your relationship to that customer, is crucial. This powerful view will provide insight into customer needs, preferences and buying patterns, and allow for identification of up sell opportunities.
Database Management for Small Businesses
A CRM solution is a great way for organizations to manage their database, especially in a small business environment. There are CRM solutions available today that are geared toward companies with less than 20 employees. Before investing in CRM, many of these companies use Excel spreadsheets to itemize and outline all of the information they need to run their business. But when they understand how productive it is to have all their data in one place, they decide to invest.
Committing to a CRM Solution
One of the fears expressed by small businesses before committing to a CRM solution is the cost. But when companies calculate the cost savings they could enjoy with a CRM solution they are willing to sign up. Another fear is based on a perception that these solutions are complex. However as Warren Tait, Customer Services Director, Neopost UK points out: “There are vendors on the market who are willing to walk customers through the different processes and do a lot of hand-holding during the early phases, making the adaptation period so much smoother.”
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