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Business Need
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Customer Relationship Management
CRM
Customer Relationship Management (CRM) is a customer-centric strategy that attempts to maximize revenue while building relationships with the customers, designed to ensure customer satisfaction. Functions that benefit from CRM include marketing, sales and customer service. For these initiatives to benefit from CRM they must be integrated as an overall customer-centric approach. CRM is a methodical approach to using information to construct a mutually beneficial relationship with the customer. The philosophy behind the CRM is that a strong customer/client relationship would be the greatest asset in the long run. It has been documented that it cost six times more to obtain a new customer than it does to keep an existing customer, thus proving how important the relationship really is.
Feature and Advantages of CRM
There are many benefits to using CRM methodologies. Company's can provide greater customer service, increase customer revenues, discover new customers, help close sales calls more efficiently, increase call center efficiencies and simplify the marketing and sales procedures, just to name a few. These things can be implemented into CRM software directly, which in turn can simplify management techniques.
Greater customer service can be generated through the collection of customer information. Collecting and storing this data in the CRM database allows for instant access to it when need, it also provides insight into what new products or services this customer might be interested. Increased revenues are generated through this very model. If the company understands what the needs of each customer are before they ask for them, sales can be improved by offering new products or services that customer may not have known existed. New customers can also be discovered through the anticipation of customer needs.
CRM can help close sales calls by developing a level of trust between the sales staff and their customers. By providing the sales staff with information about their clients and past sales records, they can determine the order sizes for each customer before the sales call begins. This also makes the job easier for the customer as in most cases the all that is required to start the order is the signature of the customer.
With this software, records can be kept of all responses to sales campaigns. Sales and purchasing data as well as account information can be stored in a database for easy referencing. By having all this information at the click of a button, CRM helps call centers that deal with thousands of clients daily. It provides the information to help understand their customer so they can be of better use to the customer when they call. This enables company processes to become more streamlined which in turn, cuts down on phone time, and decreases the time it takes to satisfy the customers’ complaint. Because of this, managing the companies’ services become easier as everyone’s’ job has become more efficient with CRM software.
Incorporating CRM into your business – Benefits of CRM
When evaluating your need for CRM software it is important to remember that all CRM solutions are not created equally. Finding a CRM platform that can be tailored to your specific business needs will provide a greater solution for your companies than implementing a basic CRM model.
CRM software has been proven to increase sales by as much as 50%, due in large part to customer satisfaction, which is a reflection of the CRM software. As businesses being to recognize, understand and anticipate customers needs they can respond to these needs before the customers call. Companies’ can begin to tailor each product or service to the individual needs of the customer. This presents the opportunity to begin a relationship with the customers, as they feel like a valued customer. Customers will be more liable to listen to details of new products and services if they understand that the company has their best interests at heart.
CRM software stores all the information collected on customers and provides information on new features or products that the customer may also benefit from. This information can be used to separate the masses and provide personalized marketing documentation regarding specific products each customer may benefit from.
CRM at a Glance
CRM software can help take your business to a new dimension. It is a customer-centric strategy that attempts to maximize revenue while building relationships with the customers. These relationships are in the best interest of both parties as they provide mutually beneficial information to make interactions easier for both parties.
CRM software stores all the information collected on customers and provides information on new features or products that the customer may also benefit from. This information can be used to separate the masses and provide personalized marketing documentation regarding specific products each customer may benefit from.
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Products
TimelessMIND Enterprise Configuration Manager (ECM)
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TimelessMIND Configuration Management Suite
• TME Product Catalogue
• TME Pricing Manager
• TME Customer
• TME Order Manager
• TME Promotions Manager
• TME Sales Manager
Lead Manager
Opportunity Manager
Order Manager
• TME Billing
Invoicing
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