CRM

crm

What is a CRM?

CRM is short for Customer Relationship Management. CRM is a strategy that helps you manage your organization’s relationships with your customers and maximize your business relationships. The goal is to improve customer service relationship and increase profit growth in your sales.

If we talk about CRM, we might mean,

CRM as a technology:

A technology refers to a software that stores records, generates reports and analyzes relationships between an organization and it’s customers.

CRM as a strategy:

If we talk about a strategy it means a business plan that how relationships between the company and users should be organized or managed.

CRM as a process:

A system that business acquires to protect and manage their relationships.

Does CRM matter?

Yes of course, it matters to your business. What if your business is failing? What will you need?  A strategy!? You can set your business targets and objectives but getting up-to-date on your progress and keeping track of your customers can be a little difficult.

Well, CRM does this. It keeps you up-to-date about your customers and provides an entire overview of who your customers are, what they are buying, what they prefer, their concerns and their previous history of purchases as well. You can manage everything in a single platform.

What does it do?

A CRM helps you grow your business, find more customers and keep their information organized in a faster way to build stronger relationships with them. CRM works by collecting your customer’s personal information like website, email, telephone, social media data, and etc, across different sources then organizes them to give you a complete overview about individuals and companies. You can also integrate it with other business applications for a better customer relationship.

 

crm-benefits

Better customer service relationship:

CRM helps you improve your customer service relationship. Whenever your customers face a problem that need assistant CRM will help your representatives to quickly view what they have bought so that they can give the answers your customers need.

Improved products and services:

Provides you with improved and better products and services by giving insights into how your customers feel and what they are saying about your products so that you can improve.

Increased revenue:

Once you get an overview of your customers and their needs, you then have the ability to grow your business and provide more products that might result in higher revenues.

Do work anywhere and anytime:

CRM provides mobile and web access. It even provides you an offline access so you don’t need to worry about the internet connection. Whether you are in the office or away from it, you can always access your customer’s data anywhere and anytime. Mobile applications are fast and easy to use and provide a set of tools to provide your customers a better service.

 

crm-trends

These days CRMs are developing very quickly. Let’s have a quick look on the latest trends.

Artificial Intelligence (AI) Automation:

crm-ai

Artificial intelligence (AI) plays a bigger role in CRM systems. It will be the future of Customer relationship management. That’s true.

“AI will be integrated into every step of CRM to ensure a smarter sales process,” predicts Mani Vembu, chief operating officer at AI-focused CRM firm, Zoho.

Artificial intelligence (AI) within CRM can help you selling your products in a smarter and faster way to the right customers at the right time. Based on the system, you can gather the customer data, analyze them and predicts the customer needs, behavior and interests. On the basis of predicted information you can also see which customers are most likely responds to the offers and promotions and can recommend them related products.

IoT (Internet of Things) Integration:

crm-IoT

IoT is all about a network of internet-connected things that allows you to collect, send, exchange and act on data. CRM developers are implementing input processing devices like home devices, mobile phone and cars in their business to invest in customers. The devices are always connected to the internet so if the problem occurs, it can be identified and solved in real-time immediately before the customer gets to know it. By analyzing real-time information, you can also update the prices of your products according to market demand. It also helps you tracking your customers and reaching them out immediately.

Social CRMs:

crm-social-crm

Customer relationship management  is integrated with social media channels via social CRM. It allows businesses to interact with their customers using online networking services and technologies. Companies that want to get closer to their customers are now integrating social CRM with their CRMs. Everything from social monitoring to social media automation is included in it. This also provides a better understanding of your clients and their purchasing behaviors. You can provide customer support services on social media that your customers already use like twitter and you can also get  the feedback about your customer experiences.

Mobile CRMs:

crm-mobile-crm

As we all know that mobile devices now-a-days are very common. More and more people are using smartphones over desktop computers. Mobile CRM is another amazing thing trending in today’s world. Provides an ideal and a smooth customer experience across multiple screens and devices. Have you ever heard about Zoho? It allows employees to access their customer’s data anywhere. Undoubtly, mobile CRM has a lot of benefits. Through Mobile CRMs clients can:

  • easily interact with the customers.
  • exchange ideas within the company.
  • send text messages, voice mails, e-mails and other documents.

Vitual Assistant:

crm-virtual-assistant

Customers don’t like holding on a call or waiting for a text or email to get their answers, instead they prefer live chat. A chatbot is a technology built using Artificial Intelligence features that recognizes voice commands, accelerates the commands for information then facilitate the customers with relevant information.

People are looking for voice conversational technologies like Siri and Alexa. And so a virtual assistant in a CRM  helps to set-up daily activities, gives the best recommendations, provides information about company like customer services hours, information about products, contact information and much more.

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