5 Benefits of Customer Relationship Management
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Customer Relationship Management — it sounds simple enough. Keep your customers happy and watch your business boom. Unfortunately (or fortunately), as your enterprise grows, excel sheets are just not good enough to track leads and customers, and generic solutions to client concerns don’t cut it. This is when relationship management needs to be taken to the next level, with a CRM software that will streamline your business workflows and enable you to give your customers personalized service . However, if you remain unconvinced, here is what CRM can do for your agency:
Discover Insights on Missed and Lost Opportunities
Just because you lost a client, doesn’t mean you shouldn’t follow up — you never know when fortunes might turn. And the best way for agency leaders to stay on top of lost leads is to use a CRM tool. It allows you to keep an organized history of prospective and lost leads, which is critical increasing sales funnel visibility and shortening sales cycles — and over time, it provides clarity on potential roadblocks in the process. Here’s how — CRM gives you the ability to review all your past deals and uncover common challenges underlying the same.
Integrate Project Management Functions:
Keeping clients updated on project status and deliverables requires never-ending coordination between multiple employees and departments. And more often than not, it requires collation of data that is contained within separate excel sheets or even inboxes. However, by integrating your CRM tool with your project management system, By bridging the gap between the two, CRM gives you clear insights into the working of all aspects of your agency — from sales to operations. Thus, by getting rid of information silos, you can make well-informed business decisions based on a 360 degree overview of clients and project status, and spend less time gathering information, allowing you to focus on other business activities.
Combat Fallout of High Attrition Rates
The advertising industry is infamous for its high attrition rates, which often disbalances an already delicate client-agency relationship. But thanks to CRM, an account manager’s resignation doesn’t mean a death sentence for the account. The next person can pick up right where the next employee left off — he or she will have immediate access to emails, project deliverables, and glitches, if any. The status of the relationship can be understood and measured to make transitions smoother.
Facilitate an Overall Increase in Sales
Companies with a fully-utilized CRM solution have seen up to 29% increase in sales — and you can do this too, in a few simple steps. First, use CRM to identify which customer segments are more valuable to your business, then give them specialized discounts or additional services. Next, CRM-enabled workflow automation and email integration will allow you to automate and track sending of emails. This greatly increases the capabilities of your sales team by allowing them to send out batches of essential emails in less time. Finally, CRM alerts can notify sales staff about any immediate actions that need to be taken, e.g. sending an urgent deliverable to a client.
Uncover The Most Effective Marketing Tactics
With the closed-loop analytics provided by CRM, it is possible to analyze which tactics are producing the most leads — do mailers work for a certain client, but not another? Are your Google ads yielding sufficient leads? Or is the personal touch of client testimonials the best way forward? Your marketing team can answer these questions and refine their tactics based on feedback on the CRM tool, given by the client’s sales team — thereby increasing overall success rate.As a culmination of the above points, processes are streamlined, errors are detected, and time is optimized via CRM, helping businesses scale new heights. So what are you waiting for? Move to CRM and let it do the grunt work for you — so that you can focus on adding value to customer experiences.