No business likes to feel as though they are wasting money, but that is exactly what many are doing day in day out by using ineffective and inefficient business practices. How much will you save with CRM?
To try to counteract this some businesses choose to use the services of an expensive business analyst to show them where they are going wrong. In all fairness this is a method that really is more trouble than it is worth (and it usually does cost quite a lot) when all that many businesses need is a good CRM (customer relationship management) solution. So just how can CRM save your business and money?
Contact management software can put an end to poor working practices that waste time - any business owner knows the old adage that “Time is money” and it is true. Who wants to have their employees wasting time each day using old and ineffective methods to log customer contacts and creates new customer profile. When you use CRM updating, taking and creating customer contacts and customer information profiles is a breeze.
CRM can help a business to virtually eliminate any misplaced invoices - the number of businesses who have misplaced or lost invoices is staggering. For every misplaced or lost invoice that is floating round unnoticed in a computer system a business is losing money. Using CRM means that all outstanding invoices are flagged for chasing immediately so that the debt collection department can decide what to do with them, no more outstanding money sitting in invoices.
CRM can increase customer confidence which can then lead to increased profits - having customers that will come back to your business time and time again is like a dream come true. In fact knowing that your customers will always turn to you because of your outstanding customer relationship management is like having a blank cheque from them. In these times where customer loyalty is crucial CRM can help a business to secure customers and keep them - long-term.
CRM can enable a business to do away with many unwanted software programs - this means that money can be saved on various software licenses. Some businesses have to pay amazing amounts of money each year to keep up their licenses for various software programs, using one CRM program that combines web based project management features means only one license has to be paid for each year. The money that can be saved from this can be put to good use elsewhere in the business and can generate more income.
CRM can help a business plan targeted marketing campaigns- by using some of the analytical tools on a good CRM program a business can save money by creating targeted marketing campaigns. Marketing can cost a small fortune, especially if it does not generate the kind of income it was expected to. Creating targeted marketing campaigns can vastly increased sales and can put down on wasted marketing revenue.
As shown CRM can save your business money in a whole variety of different ways - so why not give it a try and see your profits soar.
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Are the benefits of CRM real?
ReplyDeleteWhen a business uses business management software correctly it can accurately track and organize all current customers and every potential customer that they are in contact with. CRM is more than just a way of storing customer contact details and ordering information, it is a way of restructuring the internal workings of a business to increase productivity and lower costs at the same time. Here are some of the benefits of using a dedicated CRM solution:
Inefficient to work practices are eliminated. Many businesses find it valuable time is lost each day by using several different software packages, many of which are not compatible with each other. By using one CRM software package to complete all daily tasks a business will save thousands of hours each year, hours which can be spent in other areas of the business.
Customer details are stored in an easy to access place. No more searching for customer information on various databases. Customer relationship software enables all customer details to be stored in the same place which can then be accessed by anyone within the business who has the correct permissions.
Invoicing and quoting is more streamlined. Being able to create quotes and invoices for a customer within minutes means that no more quotes will be overlooked and no more invoices will be left unsent. Many businesses lose a great deal of revenue by failing to send out quotes on time and leaving invoices languishing in filing cabinets. When CRM is used this is a thing of the past as all paperwork will be completed and sent to customers at the appropriate time, without any delay.
Business owners can keep track of their staff. Being aware of which staff are on holiday or are sick at any one time can enable the business owner to divert help from other departments when it is needed. There is nothing worse than being short staffed and having an effective means of seeing where all your employees are at one time prevents this.
Customers will be more likely to become repeat customers. Everyone likes to think that any business they deal with values their custom. Using a CRM shows your customers that you really do value them, and it will show each and every time they contact you or you contact them.
CRM gives a professional image to your business. All businesses want their customers to regard them as professional and it can be the little things such as knowing what your customers usually buy that will help to project this image.
Marketing can also be assisted by CRM as it can help to create more successful targeted marketing campaigns by looking back on customer purchasing trends.
Microsoft CRM 2011 has many other benefits and any business that regularly deals with customers through sales will appreciate these benefits tenfold.
Thinking of getting a Customer Relationship Management (CRM) application?
ReplyDeleteSalesforce.com is arguably the most well known of these applications. And deservedly so. The company pretty much invented cloud-based CRM and remains committed to its future. Like the products listed below, Salesforce.com offers sales, marketing and service management capabilities to its small and (very) large customers. The application is only available through the cloud and can range in price from $60 to $125 per month per user for the typical corporate version (although pricing can be less for very basic features or more depending on the added modules purchased).
GoldMine is more of an advanced contact manager than a full blown customer relationship management system. But the aging product has been around for many years and still maintains a large following. The software, which is on-premise only, is targeted primarily at groups of 5-25 users and costs about $3,000 for a five concurrent user system. It is quick to setup, easy to use, synchronizes with Outlook and QuickBooks and sold through a national network of resellers and partners.
Microsoft Dynamics CRM is available in both on-premise (approximately $1,100 per named user and approximately $5,000 for the server software) or via the cloud at $44/month/user. Dynamics CRM has grown significantly over the past few years, mainly because of its ease of use and seamless integration with all-things-Microsoft, from Outlook and Office to Sharepoint and its other business applications like Dynamics GP. Dynamics is extremely customizable, scalable to larger, enterprise-size workgroups and serviced through Microsoft’s partner channel.
Sage CRM can be rented online for $39/user/month or purchased outright so that corporate users can benefit from its sales, case, campaign and email management functionality. Sage CRM is a mature, powerful CRM application that any user of a Sage product (i.e. Sage 100 – formerly MAS or Sage 300 – formerly Accpac) should seriously consider. Sage has a strong partner network and deep financial resources.
They are all terrible when they are not implemented the right way. They are terrible when companies don’t appreciate that all of these magical applications are nothing but databases and don’t put the right processes in place to ensure that all interactions are entered into this database so that the data can be properly used for further sales, marketing and service interactions. They are terrible when companies don’t assign strong administrators, or cut corners on training or try to do too much at one time. They are terrible when senior managers don’t pay the attention needed to make these systems successful and instead cave in to the complaints made by lower level employees who don’t want to do the extra work. These applications are terrible when managers don’t insist on the reports they should be using, don’t enforce rules for entering new opportunities and don’t commit to long-term, consistent and repetitive drip-marketing and communication campaigns using the information maintained by their CRM system to keep their prospects informed and their customers close.