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7 Dec

How CRM can help your business grow?

Customer Relationship Management is the golden key to every business. Everyone business, whether small, medium or large scale wants to maintain good relations with their old, new and existing customers. It is a strategy where you learn about customer behaviour and needs. Technology has been booming in the 21st century. As a result, there are plenty of CRM software that have come into existence. There are free demos available for the CRM software on the internet! This is the importance of CRM for business.

ECRM Marketing Companies are also on the rise, especially in Mumbai. To help improve your sales process and maximize the use of your CRM, follow these best practices for all five stages of your sales funnel.

  • Prospecting
    Generating Leads can be a messy process. CRM always helps you stay organized, something that every business wants!

    • How to sell Information Socially
      It’s almost 2020. We have plenty of ways to connect businesses to the real world. Instagram, Facebook, Twitter, Zomato, LinkedIn, Quora, Snapchat, VK, Tumblr etc. are some of the ways to generate customer relationships. But have you thought of how time-consuming it can be to manage all of them? The easiest way is to have CRM integrations in place.
    • Tracking conversations with customers
      Your customer support team should be able to handle and keep track of all the conversations they are having on behalf of the business with the customers. Live Chats, Emails, Phone Calls, Comments, Generating Leads through Customer Support Tickets are examples of Monitoring customer conversations. CRM makes the communication smoother and effective.
    • Segmenting Data and Information
      Dividing all your customers with similar characteristics into small groups is called segmenting. You can divide them based on their demographics, industry, interactions, amount of business they give you and what products/services they use. Another term like list segmentation can also be used.

 

  • Qualified
    A lead represents any person or organization that a company might have the potential to do business with. CRM can be used to optimize the lead qualification process. The business must make sure the right leads are being brought in.

    • Add Point System to the Leads
      Lead scoring is when you give points to each lead you generate in the business. Every company will have a different way of working towards assigning points to the leads they generate. You can give points based on demographic information, company information, online behaviour, email engagement, social engagement and spam detection. Plus, points can be given for good behaviour and interaction, Minus points can be given for behaviour and no interaction.
    • Keep an eye on the lead interactions
      This is how CRM is important for business. It is necessary that someone monitors all the leads carefully. This is when the CRM software comes into play. Microsoft Dynamics CRM, Zoho Office Suite, Zen Desk are examples of CRM Softwares.
    • Track leads that are not qualified
      Tracking unqualified reasons are as important as monitoring lead interactions. You have to find out why the lead was not qualified and what are the reasons behind it so it can help you get a better perspective. CRM always prompts the reason about why the lead was or is unqualified.

 

Importance Of CRM For Business
  • Quote
    This is the most important stage because you are discussing the price and quoting to your potential client/customer. The aim of the team should always be to bring the lead closer and convert them into a client

    • Study your Customer
      There are plenty of ways to know about your customers like Generating Crucial Customer Profiles, making people take Surveys, Studying prospect behaviour, identifying new opportunities and noting down details about your customer. All of this becomes easier through the CRM Software
    • Give yourself daily tasks
      Add daily tasks and reminders which can be used to follow up with clients, keep track of discussions and help your business grow.
    • Rep activity needs to be handled professionally
      Potential representatives need to be hired. Reports should include which customers they have interacted with every month, topic of discussion, number of calls made, the number of emails sent, number of meetings had, number of text messages sent. All of this compiled in a single presentation would make it much easier to know how Customer Relationship Management is functioning.

 

  • Closure
    Another important thing after quoting the price is closure. Closing deals is extremely important if your company wants to generate big numbers on the balance sheet.

    • Stay Alert
      There are different ways to keep your CRM up to date. E-CRM has been an integral part.  Add new contacts, get rid of old contacts which don’t have any details, go through reports, delete old email templates and create new ones, review if the deals go through and if not, try to find out why.
    • Identify problems
      Every problem needs to be identified and solutions need to be brought about. Missed opportunities and communication chaos are some of the bottlenecks that can be identified in organisations.
    • Keep an eye out for sales funnel
      A sales funnel helps in focusing attention on the customers who are most likely to purchase a product. It saves a lot of your time and adds predictability to the sales process. The Sales funnel analysis report should be checked from time to time to know how many deals you have closed.

 

  • Won / Lost
    It’s showtime. It all comes down to this! The ultimate deal. Did you win or did you lose? The CRM will give you a positive or negative insight into your sales funnel.

    • Use your metrics as a guide
      Numbers play a very important role in the reports. The outreach activity, sales calls, leads by source, length of the sales cycle, conversion rate by rep, customer retention rate, lifetime customer value, all of these need to be taken into consideration and their metrics need to be looked upon. Better decisions can be made in the near future after following the metrics.
    • Don’t lose hope when you falter
      Never give up. No matter whether you lose a deal or two, keep moving forward! Take action and brainstorm on how, why and when you lost the deal. Ask yourself, what are the changes we can make in this? How can we improve on this? Can we close this deal the next time if given another opportunity?
    • Keep your pipeline up to date 
      Whether it’s sewage or CRM! Cleaning and updating your pipeline always help. Remove misleading data. Make sure it’s clean, up and running. Do this on a daily, weekly and monthly basis so you won’t be stressed out whilst doing it all together.

The evolution started from RM TO CRM. And then CRM to ECRM. ECRM stands for Electronic Customer Relationship Management. In addition to the traditional methods, internet, email, wireless and PDA technologies are also used. ECRM also saves time and money. This is how ECRM Is Important.

Krispy Kreme boosts online conversions by 90% with a redesigned website. The global doughnut and coffee chain works with agency Ridgeway to refresh the site, creating a better user experience that also boosted page views and reduced bounce rate by 43%. This is a small example of an ECRM Marketing Case Study.

Digital Marketing has been on the rise all over the world. The internet is becoming a business world! 76% of people think marketing has changed more in the past 2 years than in the last 50! Google is responsible for 96% of all smartphone search traffic and 94% of total organic traffic!

There are several ECRM service provider companies in Mumbai. ECRM Solutions, Neolite Infotech India Pvt. Ltd., ACS Infotech are few of them.

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