The Value of Successful Customer Relationship Management

As long as there have been businesses that sell goods and services there has been customer relationship management (CRM).  It could have been the ice man keeping track of what customers purchased for the day and recording any special preferences.  The development of technology has changed how customers are handled, but the need to keep them happy has stayed the same.

According to an article in Forbes magazine, “We used to yell at our customers how great our products would work, and we expected them to line up like lemmings in front of our salespeople who would control the conversation and get the order…that whole thing was just being torn up from the inside and the outside in.”

Focus – Any solution to CRM issues require being able to see the whole picture.  This includes the company’s sales process as well as customer buying habits.  This information will enable a company to recognize and focus efforts toward the best potential future customers.  Effective CRM permits a company to utilize their marketing efforts.

Synchronization – When a CRM platform is synchronized between marketing, sales and customer service everybody is communicating the same way.  If any of these functions are separated by a faulty system, the lack of coordination could financially harm a company.  Once these areas are in sync with one another they have access to similar information and can share experiences.

Analyze – Many companies simply don’t have the time to follow and analyze the purchasing habits for each of their customers.  The reality is analyzing this type of data is important for business success.  Using an effective CRM application can create necessary reports that make analyzing the data quick and easy.  This can help identify issues in the sales process as well who is the most productive in sales and more.

Positive Customer Experience – It’s important to provide the customer with a purchasing experience that is better than any other. An effective CRM will keep them from waiting on the phone and prevent them from being transferred.  It will also provide the ability to suggest other products or services that complement the customer’s profile.  Representative speaking with the customer will have easy access to all relevant customer information.

Read more articles on CRMXchange.

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