Why use a CRM?
Customer relationship management is a strategy to manage our interactions and relationship with the present, past, and future customers. Various CRM software tools are designed to meet this strategy. Benefits of CRM software for any business are immense. They help to improve business relationships by staying connected with customers throughout the lifecycle, streamlining various processes and thus improving profitability.
Value of time and money in business:
Be it an upcoming business or an established one, Time is a vital element and scarce resource. It keeps ticking and once gone never comes back. Every step in business requires time- product research, development, marketing, sales and customization, customer service etc. If we can save time by streamlining and automating certain processes, we can utilize it for the betterment of the company. The right decisions at right time can favor a lot for the progress of companies because Time is Money.
5 ways to save Time and Money with smart CRM features:
A smart CRM tool with features like a mobile app, email integration, an activities log, appointment scheduling, report generation etc can save a lot of time and money for the organizations. Let us look into few of the benefits of CRM software
Easy accessibility of customer data
One of the major aspects of CRM software is streamlining all the customer data in one place. It reduces time in searching for contact details if otherwise stored in excel or paper format. CRM tool helps in clean record keeping thus prevents from missing any valuable customer information, also ensure the company is audit-ready. It creates accountability, improves communication, accuracy.
CRM tool is used across different teams in an organization. Data stored in the cloud helps in easy accessibility of information across various teams, like sales, marketing, management, invoice processing etc. A business without CRM tool has to spend a lot of time, by scheduling meeting to discuss customer progress, send emails or paperwork across the various team to be on track about what is happening in the business. CRM works as a common platform for various departments, bringing everyone on the same page. It saves a considerable amount of time and clears all confusion.
Marketing made easy
Marketing is made easy as all customer data is at one place. CRM software is also incorporated with emails and phone features, communication to customers can be made within the CRM tool itself. Without a CRM system the sales/marketing agents spend more than 50% of their time doing mundane processes, like collating customer data, sending bulk emails, data entry work etc. CRM does the repetitive tasks for the agents and helps them to spend more time on value-added activities. The management can identify the best marketing strategy/product or service of high demand. They can stop or change the marketing campaign accordingly.
CRM software centralizes all data giving quick access to any reports needed by the management. Ex: Product interest view, Leads to customer conversion, agent-wise performance, sale activities, quotes and invoices generated, products ordered etc. CRM helps in analyzing the data and generating reports automatically. With accurate reporting management can make better decisions and formulate effective strategies.
Customer service is about addressing customers’ queries effectively and timely. With all information at one place, the customer service agent can process his duties precisely. Through mobile CRM customers can be communicated from the CRM tool from anywhere, anytime. CRM with email feature is equipped with a template where the customer service agent can send acknowledgment and bulk responses in no time. CRM helps to improve the level of service and quality of communication with the customers. CRM tool aids agents to plan the tasks and activities and prioritize the work for a day timely.
Below statistics shows the CRM benefits for business, according to the Forrester study in 2017:
- Teams increased productivity by 50%
- Sales productivity increased by 5%
- Consultation time was reduced by 10%
- Revenue has raised by 2%
- Customer service cost was reduced by 40%
OPAL CRM by KloudPortal is CRM software designed for small and medium-sized organizations. Committing a customer for a sale process involves a lot of skill from the sales agent. Several steps are involved to close a sale process. Fill in the forms, reports to be generated, follow up, creating quotations, address any legal or compliance issues, etc. all these steps consume a lot of time. Thanks to the OPAL CRM which does all the repetitive tasks for the agents. CRM software is definitely a time saver and quality product which can save time and money for any organization.