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Our company “Opus Technology Limited” provides Customer Relationship Management (CRM) system is a customer database which helps with contact management, sales management, and productivity.
The primary goal of CRM systems is to integrate and automate sales, marketing, and customer support. Without a robust CRM system, customer details and interactions can get lost, calls are not followed up promptly and prioritizing customers can be a matter of guesswork.
As the customer has become more connected, the focus on ‘customer relationship management’ has transitioned and also become a strategy to customer engagement.
The Customer Relationship Management is no longer just a database of information, it now needs to meet the needs of a customer who is wanting to connect with a business across multiple channels. It also needs to be able to provide relevant and up-to-date information to all departments. Customer Relationship Management is process that a company follows for proper execution of practices, strategies and technologies to manage customer interaction. The data is then analyzed in order to improve business relationships. CRM systems compile information of customers which are used to derive sales targets.
Some CRM systems have a single interface for all users with endless tabs, menus and dashboards. This often results in a high level of complexity and different departments within the business struggling to efficiently reach the data that they require.Choosing a CRM with an intuitive and user-friendly interface, that can be changed to suit different departments or teams, can help your system adapt to suit departmental processes and business workflows.
Your CRM system should be integrated with the contact centre, so that your customer service agents benefit from a 360° view of the customer. Fully customisable user dashboards can provide a single unified view of information from case and line of business applications.The dashboard can also be tailored to highlight or flag key bits of information to the agent. For example, if the customer is hard of hearing or is behind on payments. Also make sure your contact centre system integrates with major applications.
A CRM system with a mobile application to enable mobile working can minimise trips into the office to update data.
An intuitive task wizard workflow design engine can provide the contact centre with total ownership and customisation of workflows.This can allow contact centre managers to design workflows once and then use them multiple times.
A customer self-service portal with integration into the CRM workflows can enable a shift away from more expensive channels towards self-service. For example, from “face to face”, to telephone, to online. This can help reduce costs, improve agent productivity and reduce the re-keying of information.
The CRM system needs to include a level of flexibility so it can be tailored around your business and can be customized to work the way you want it to. Although many providers say they offer this level of customisation, this often means that the project will incur higher costs through third-party customisation, resulting in a complex and expensive CRM implementation. A key requirement therefore is to procure a solution from a supplier who can customise it as part of the project and within budget.
From this screen, the agent can see that there is an outstanding payment on the account, and can securely take payment over the phone or transfer the customer to an automated voice payment system or send them to the self-service web portal for payment. As the customer also wishes to report a missed bin collection, this can be handled at the same time from the same screen without having to log in to a separate application.
Customer service can become a key competitive differentiator. There has been an increased emphasis over the last few years on improving the experience customers are getting when engaging with a contact center.
One of the drivers for this has been feedback from customers that their needs are not being met:
• 84% of consumers are frustrated when the agent does not have the right information
• 73% of adults aged 18–24 say that “valuing my time” is the most important thing in providing good customer experience
• 64% of people say that the customer experience is more important than price in their choice of brands
A CRM system can help an organization provide great customer experience as a key competitive differentiator, drive customer retention and have a direct impact on profits. Increased customer retention. Improving the customer experience with a CRM system can lead to increased customer retention. Access to a full digital history can help track performance against SLAs Having access to a full digital history can allow a contact centre to easily track performance against SLAs. Agents won’t have to toggle between multiple screens to find information If you can give agents a single sign-on experience they won’t need to toggle between multiple screens to find the information they need when talking to customers. A simpler process can also give agents more confidence, allowing them to focus more on building professional rapport. Simplifying the process of dealing with multichannel requests A CRM system can help to simplify the action of dealing with multichannel requests. This can allow the agent to focus their energy on dealing with the actual issue at hand, and therefore enhance the customer’s experience. What to watch out for with a Customer Relationship Management (CRM) system Re-keying information Make sure your CRM can pull and push information from other internal systems. This will enable a “single version of the truth” and minimize re-keying of information. Needing a consultant’s support every time you require a change Workflows should be intuitive enough to allow internal users to create and edit them where necessary. Avoid systems where you need to get a consultant in every time you need to make a change.
Enhances Better Customer Service
CRM systems provide businesses with numerous strategic advantages. One of such is the capability to add a personal touch to existing relationships between the business and the customers. It is possible to treat each client individually rather than as a group, by maintaining a repository on each customer’s profiles. This system allows each employee to understand the specific needs of their customers as well as their transaction file. The organization can occasionally adjust the level of service offered to reflect the importance or status of the customer. Improved responsiveness and understanding among the business employees results in better customer service. This decreases customer agitation and builds on their loyalty to the business. Moreover, the company would benefit more by getting feedback over their products from esteemed customers.
The level of customer service offered is the key difference between businesses that lead the charts and those that are surprised with their faulty steps. Customer service efficiency is measured by comparing turnaround time for service issues raised by customers as well as the number of service errors recorded due to misinformation. A good business should always follow – up with customers on the items they buy. This strategy enables a business to rectify possible problems even before they are logged as complaints.
Facilitates discovery of new customers
CRM systems are useful in identifying potential customers. They keep track of the profiles of the existing clientele and can use them to determine the people to target for maximum clientage returns. New customers are an indication of future growth. However, a growing business utilizing CRM software should encounter a higher number of existing customers versus new prospects each week. Growth is only essential if the existing customers are maintained appropriately even with recruitment of new prospects.
Increases customer revenues
CRM data ensures effective co-ordination of marketing campaigns. It is possible to filter the data and ensure the promotions do not target those who have already purchased particular products. Businesses can also use the data to introduce loyalty programs that facilitate a higher customer retention ratio. No business enjoys selling a similar product to a customer who has just bought it recently. A Customer Relationship Management system coordinates customer data and ensures such conflicts do not arise.
Helps the sales team in closing deals faster
A CRM system helps in closing faster deals by facilitating quicker and more efficient responses to customer leads and information. Customers get more convinced to turn their inquiries into purchases once they are responded to promptly. Organizations that have successfully implemented a CRM system have observed a drastic decrease in turnaround time.
Enhances effective cross and up selling of products
Cross – selling involves offering complimentary products to customers based on their previous purchases. On the other hand, up – selling involves offering premium products to customers in the same category. With a CRM system, both cross and up – selling can be made possible within a few minutes of cross – checking available data. Apart from facilitating quicker offers to customers, the two forms of selling helps staff in gaining a better understanding of their customer’s needs. With time, they can always anticipate related purchases from their customer.
Simplifies the sales and marketing processes
A CRM system facilitates development of better and effective communication channels. Technological integrations like websites and interactive voice response systems can make work easier for the sales representatives as well as the organization. Consequently, businesses with a CRM have a chance to provide their customers with various ways of communication. Such strategies ensure appropriate delivery of communication and quick response to inquiries and feedback from customers.
Makes call centers more efficient
Targeting clients with CRM software is much easier since employees have access to order histories and customer details. The software helps the organization’s workforce to know how to deal with each customer depending upon their recorded archives. Information from the software can be instantly accessed from any point within the organization. CRM also increases the time the sales personnel spend with their existing customers each day. This benefit can be measured by determining the number of service calls made each day by the sales personnel. Alternatively, it could also be measured through the face – to – face contact made by the sales personnel with their existing customers.
Enhances customer loyalty
CRM software is useful in measuring customer loyalty in a less costly manner. In most cases, loyal customers become professional recommendations of the business and the services offered. Consequently, the business can promote their services to new prospects based on testimonials from loyal customers. Testimonials are often convincing more than presenting theoretical frameworks to your future prospects. With CRM, it could be difficult pulling out your loyal customers and making them feel appreciated for their esteemed support.
Builds up on effective internal communication
A CRM strategy is effective in building up effective communication within the company. Different departments can share customer data remotely, hence enhancing team work. Such a strategy is better than working individually with no links between the different business departments. It increases the business’s profitability since staff no longer have to move physically move while in search of critical customer data from other departments.
Facilitates optimized marketing
Customer Relationship Management enables a business understand the needs and behavior of their customers. This allows them to identify the correct time to market their products to customers. The software gives ideas about the most lucrative customer groups to sales representatives. Such information is useful in targeting certain prospects that are likely to profit the business. Optimized marketing utilizes the business resources meaningfully.
CRM software will remain relevant for quiet long as long as businesses desire a quick balance between product provision and customer acquisition. Inarguably, the advantages of customer relationship management will remain relevant as long as businesses desire to build a competitive advantage over their competitors.
CRM software, but what are its uses? There are plenty of benefits of a CRM software. It can be set up for insights, automation, integration, visibility, accessibility, and collaboration—the result is increased productivity and more efficiency to your business. Here are the key advantages of CRM software:
Generate insights for better decisions. You can consolidate disparate customer data to look for patterns, trends, and other insights critical to strategic decisions or a timely response to market behavior. Likewise, you can translate customer data streams from different sources like social media posts, support calls, and sales data to see the overall sentiments on your brand.
Increase sales opportunities. With more information on hand, you can qualify new leads faster and focus on promising prospects. You can also see which customers are up for an upsell, cross-sell, or sort out and reactivate dormant customers. Likewise, better engagement means customers are kept happy and profitable for the long run.
Profile customers easily. By organizing customer data in a centralized database, anyone with access have a 360-degree view of customers.
Information like contact details, demographics, transaction history, support engagement are easily retrievable through tags and filters.
Align sales and marketing. Sales can feed on-the-ground data to help marketing craft campaigns and brand messages. Marketing can feed sales with new leads in bulk. Both teams can share contacts, deals, and insights that fast track the sales cycle.
Make accurate sales forecast. With a clear sales pipeline it’s easier to see what deals and tasks are coming in and out, what are moving and stagnating, giving you patterns for forecasting.
Keep track of customer social posts – You can manage your social media pages from one place, making it easier to respond quickly to customer rants, praises, and brand mentions.
Collect data fast. Sales can quickly store customer data on the field via mobile access. Support can save customer interactions in phone, email, chat with a few clicks. Marketing can automate sorting of campaign feedback. Staff do less administration and work more on their core tasks.
Get real-time data. Your reports and analytics use the latest data.
CRM relay Security because it is always a concern when data is placed online. Hacking, phishing, and malware attacks can compromise sensitive customer data. In response, vendors use encryption to protect data, while companies must have internal security protocols in place, such as, permission controls and sharing rules. Privacy. Some customers frown on having their personal details kept by companies. Coming across as too personal may rub customers the wrong way like greeting someone on her birthday. Sales not using it. CRM solutions with plenty of fields, difficult navigation, and complex workflows turn off sales people. Lack of mobile app also means sales cannot access the software when they need it most, out there when meeting with clients. Cost vs return. When managers or marketers see CRM software as glorified address books or spreadsheets, they see the software as a cost, not an investment.
Opus will provide Customer Relationship Management solutions for companies in all scales that acquire our solutions for their organization. We can install the tailor made vendor management system for individual organizations for taking into consideration for various factors related to that specific organization. Opus is proud to be partners with some of the largest and prestigious vendors in the field of security and business management systems that create unique quality products trusted by client’s worldwide .Our counterfeit proof solutions help in creating a smooth vendor Management Solutions that works efficiently and effectively in all conditions and markets around the world.