What is CRM (Customer Relationship Management) - Why its is business essential strategy? Know more on CRM - objective, benefits to small or large scale business

What is CRM?

CRM stands customer relationship management, it is a core strategy to manage the relationship with customer more effectively and efficiently. The effectiveness is attain through understanding the customer requirements and behaviour to get it fulfil. It is the process of retaining the existing customers for the different goals like generation of new referrals, purchase repetition and overall revenue generation and business values.

CRM strategy building starts with marketing planning and its implementation. It includes the study (values that matter and behaviour) of potential customers and existing customers to convert it into loyal customer. In holistic it enable to focus on customers and its management and acquire new customers with its retention.

Objectives of CRM:

• Manage the relationship with customers
• Streamline the process of customers identification and acquisition
• Understand who are the potential customers
• Design better offerings for best result
• Referral sales and smoothen the business development challenges
• Match the product and services as per customer requirement
• Retain the existing customers
• Automate sales and marketing process

Why CRM?

• Build long term relationship with customers
• Simplify the sales and marketing roles & responsibility
• Differentiate from the competitor services and engagement programs
• Setup robust communication between customers and sales
• Quick start with the CRM roadmap
• Identify who are my customers
• Personalised marketing and offers for quick turnout
• Best delivery of customer requirement
• Earn more customer loyalty means more referrals and trust in market
• Measure performance of team efforts
• Get analysis of the strategy acceptance or failure
• Analytics and reporting for actionables

Benefits of CRM:

• Increase sale
• Increase revenue
• Increase margins
• Increase brand position
• Increase business value in customers
• Increase trust arc
• Increase the purchase repetition
• Increase customer satisfaction
• Business automation
• Higher conversation rates
• Overcome the communication gaps between expectation and deliverables
• Enhance the customer related process
• Get acknowledge to user department about their roles and participation in strategy

What Wes Consultancy do in CRM?

We Wes Consultancy offer tech-management consultation, designing and development on CRM. We transform the CRM process into business application tools. We start our services from process evaluation to understand the business objective, users, readiness to the CRM, infrastructure and leadership. All the business aspects and the impacts due to change are reviewed minutely before start as all are critical for the success or failure.  Get started with us by evaluation and suggested actionable for CRM. Connect us