Customer Relationship Management
Track leads, close opportunities and get accurate forecasts
OpenSource Customer Relationship Management (CRM) brings together all techniques and tools that are used to enter into relation with customers and prospects, in order to retain them and offer them a product or a service that is most suitable for their needs. CRM or Customer Relationship Management is a system which aims at improving the relationship with existing customers, finding new prospective customers, and winning back former customers.
Drive Marketing Performance Up
Communication is a strength Shared diaries, team calendars and service schedules give everyone clear visibility of individual activities. A CRM system allows up-selling which is the practice of giving customers premium products that fall in the same category of their purchase.
The strategy also facilitates cross selling which is the practice of offering complementary products to customers, on the basis of their previous purchases. This is done by interacting with the customers and getting an idea about their wants, needs and patterns of purchase. So, when an opportunity is spotted, the executives can promote their products to the customers, thus maximizing up-selling and cross selling.
Increase Your Leads
Increased lead generation from highly personalised marketing communications and customer lists that apply complete relationship and behavior detail stored in CRM. Marketing activity brings higher quality leads through continually improving contact segmentation and targeted campaigns. The best CRM software allows you to follow quality leads and reduce time wastage following prospects.
Organize Your Opportunities
The value of each customer relationship is understood so service resources can be prioritised to protect the most profitable accounts. Sales cycles are reduced and win rates improved as teams have clear visibility of which prospects are most likely to close.
Top CRM software also helps identify your most valuable customers and create a customer reward system or personalized communication to increase engagement and conversion. Furthermore, you can easily pinpoint weak links in the sales process-for example, unanswered emails or calls are not followed up-and address the issue at once.
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. With a CRM in place, you can benefit from the automation of all paperwork and invoicing, without any delay.
Manage Your Sales & Grow Revenues
By using a CRM strategy for your business you will be able to increase the revenue of your company to a great extent. Using the data collected, you will be able to popularize marketing campaigns in a more effective way. With the help of CRM software, you can ensure that the product promotions reach a different and brand new set of customers, and not the ones who had already purchased your product, and thus effectively increase your customer revenue.
A well-informed manager with access to real-time data can make adjustments quickly to react to market trends. CRM allows you to cull accurate insights from real-time and on-location data. This means you can fine tune your strategies or tactics right away to take advantage of an opportunity or avert a crisis.
For example, a quick look at your sales figures entered by the Sales Team can reveal customer clusters. Consolidating this insight with, say, supply chain, can help the Events Team organize scalable trials in lesser performing but promising sales clusters.
Always-on Customer Service
Profitability is more than just increasing sales. It is creating efficient processes across your business operations to make sure sales opportunities are not lost or costs are minimized. With CRM, employees can access important data quickly to serve customer needs or address a critical business process faster. For instance, a customer is complaining about a defective product.
Customer Service can ask for the product’s serial number and quickly access the Logistics’ database to record the defective batch, while Logistics can make the necessary replacement. Meantime, Finance is computing the cost implication of this minor activity to the overall monthly overhead. Customer engagement can also be tracked, such as emails and calls, and necessary actions can be rerouted to the right department to immediately address concerns.