CRM or customer relationship management is all about keeping your customers happy. When customers are satisfied they are willing to buy more products from you or, at least, they won’t leave you. Happy customers also tell their friends about your product when asked for recommendations.
However, keeping customers happy requires a personalized approach. Companies need to understand customer likes and dislikes and their potential issues about the product. This requires a lot of data digging and time to deal with each customer. Rushing things, in fact, may backfire.
Busy companies turn to CRM software so they can nurture customer relationships with more attention, while they run the other aspects of the business. Equally important, CRM software can help them surface insights for better management decisions because, when customer data is organized in a meaningful way, companies understand their customer buying behavior deeper, and essentially, their market better.
Various CRM solutions will have different sets of features, but they usually include these six major applications to help companies manage customer relationships. These are the main functions you want to focus on when assessing a solution. The following are standard parts in this type of software:
Contact management. This module is used to record customer data. This includes their contact details, past transactions, calls, emails, etc. The software can aggregate all these information and show companies some patterns and trends for insights. Zoho CRM is a good case of a system with excellent contact management.
Lead management. Companies need to engage prospects properly to convince them to make the purchase. Lead management helps marketers trace all communication efforts and related activities with prospects to see how the leads are progressing. The goal of lead management is to win the deal at the end. A good example of an effective lead management tool is Pipedrive, where a salesperson can clearly follow a visual pipeline from “untouched leads” to “contact made” and to “proposal presented” and “in negotiation.” Marketers can create their own stages to suit their process.
Campaign management. This module helps companies run email marketing or advertising campaigns. It is connected to the contact management module to target the right recipients of the campaign. It also links to the lead management module, where new leads generated by the campaign are entered. More importantly, this module can help rate the success of a campaign. In HubSpot, for example, marketers can set goals to measure the campaign’s success. Goals can be set in stages like website visits, leads made, and customers converted.
Social media management – This module links to social media networks like Facebook, Twitter, and Pinterest so companies can manage their social pages from a single dashboard. Instead of opening separate pages to check for posts, the module notifies the manager of the latest posts from the company’s different accounts.
Automation – This automates predictable marketing tasks of the company. Such modules include administrative processes like entering information in the customer database or scheduling email blasts. Companies can set the software to run specific tasks so they’re free to do other important things. Likewise, automation can speed up the delivery of services. For example, a campaign that promises to send a free e-book can be automated once the parameters are met. Automation can also speed up customer service, especially in resolving FAQs.
Reporting and dashboards – This module generates reports based on data gathered in the other modules. Reports give companies insights on market trends or customer buying behavior and a summary of how the business is performing. On the other hand, dashboards let managers get an overview of reports without having to dig into files.
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