CRM stands for Customer Relationship Management. It’s a form of technology which empowers its users to manage interactions with their customers and potential customers. The CRM system serves to increase profitability and improve customer service through streamlining operations. It’s a powerful tool that helps businesses build stronger relationships. But what are the top 5 essential elements of a thriving CRM system?
1. Communication
At its core, customer relationship management is an incredibly simple premise. It’s about communication. Whether it be websites, telephone calls, email, postal mail, social media or chat, all communication methods can be integrated into one single CRM solution, benefitting the business overall. More avenues of communication are available to contact customers than ever before. Businesses who use CRM strategies that focus on clear, omni-channel communication strategies will undoubtedly realise success.
2. Organisation
Organisation is the second important element of an effective CRM. The CRM system is designed to automate, organise and make the logistical operations of an enterprise more productive and efficient. The CRM platform gives an opportunity to see the tasks that need to be completed for each customer. So the organisation can manage their whole operations from one dashboard. Workflows can be created and managed for various departments, leading to the automation of essential tasks.
3. Marketing and Sales
An effective CRM should enable its users to monitor all marketing and sales performance data, which results in a better understanding of their diverse customer base. Marketing and sales strategies can become supercharged with this vital data, since it provides invaluable insights into your customers’ precise interests and behaviours.
4. A 360 Degree View of Data
When considering the configuration options and features available for your CRM, invest in a 360 degree view of data. This holistic approach encompasses every portion of the customer journey; their previous behaviour, their present and your future relationship with them. It connects complex and detailed data points and its use means relationships are totally understood — leveraging information from multiple sources for the most accurate and enhanced customer intelligence.
5. Optimisation via Automation
The fifth and final important element of a CRM is optimisation. An automated lead management and processing functionality leads to a more efficient and optimised workforce. Workflow automation features serve to eliminate time-consuming and repetitive functions. And this means response times to business enquiries are reduced dramatically. Whether it’s sales force automation (SFA) or customer service automation, AI powered automation frees up time to focus on more meaningful, strategic work. Furthermore, you can integrate your CRM with your other business software, leading to an even more streamlined logistical operation. For example, integration with accounting software eliminates the need for manual financial data entry. And email CRM integration means your inbox and CRM can seamlessly combine to boost productivity.
The choice and implementation of a new CRM system can be daunting. Get in touch with Lateral today to see how our software can be smoothly implemented, and make a powerful difference to your business.