Something nearly any business large or small can benefit from is CRM software. CRM stands for customer relationship management. CRM software can do a multitude of things for a company. It can help you analyze customer and sales data. It can help you manage relationships with customers, employees, vendors and partners.
There are many ways a small business can benefit from the use of CRM software. Here are some of the benefits for small businesses in terms of customer data and interaction.
It Helps You Better Understand Your Customers
CRM for small business can help you develop a better understanding of your customers. This even includes on a one on one basis. After deploying CRM software, you begin recording a lot of data. This includes plenty of data relating to customer behavior. After recording this data, you can go back and analyze it with the software.
You may be surprised at what you find. A business that supplies commercial carpet cleaning services may discover that 80 percent of its business is in one part of town, suggesting there are untapped customers within reach. You can also choose to track the behavior of individual customers and may discover other trends on a micro level that can provide you with valuable intelligence regarding the customer experience.
It Helps You Improve Customer Service
As you should well know, the key to gaining a loyal customer base is providing excellent service. Customers that are satisfied with the service provided are often willing to pay more money. On the other hand, according to statistics, poor service ends up with lost business 78 percent of the time. Thankfully, customer service is one thing a CRM software suite can help you improve.
CRM software can help give your customer support representatives the tools they need to supply excellent customer service. This is due to the fact that CRM software can record each and every single interaction an individual customer has with a company. This information can then be instantly loaded when that customer contacts support via phone, website or some other method. The customer support rep should then be able to quickly discover what issues the customer contacted support about previously. Having this kind of knowledge is crucial to making sure customer issues are quickly resolved and that they always leave satisfied with the support received.
Other options within a CRM software suite can include geolocation based services to help improve customer service and create more powerful marketing. Geolocation can help a company reach far more customers than possible otherwise. According to the numbers, China imports more than $1.5 trillion worth of products yearly. Overlooking countries other than the US in the global marketplace is foolhardy.
Powerful CRM software has the ability to help tailor services and marketing based on location. Through geolocation capabilities, the software can help you create different ad campaigns for different geographic markets. When a customer with an IP address originating from a certain country comes into contact with an ad, they will only see the marketing specifically designed to appeal to consumers from that market.
It Helps Build Loyalty
CRM can also be used to create and foster loyalty with customers. This can be done, for example, through a customer rewards program. Cabinet painter companies, for example, could use their CRM suite to design a program in which customer purchases are tracked. After the third purchase, the software could automatically send an e-mail offering the next cabinet to be painted for 25 percent off. Such tactics are a great way to reward customers for their loyalty and make sure they know the company appreciates their continued business.
Customer relationship management software is a powerful tool. It can help you provide better customer service, and it can help you analyze your data so you can plot your course for the future. Certainly consider investing in a CRM software suite for your small business.
By: Jennifer Livingston