Biz Tips: How Business Growth Completely Relies on Customer Relationship

Biz Tips: How Business Growth Completely Relies on Customer Relationship

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How Business Growth Completely Relies on Customer Relationship

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Small business owners have a lot on their plates: managing customer relationships while increasing customer sales, and managing the workflow within their companies, including the relationships with employees and the efficiency of the company to keep up with a new influx of products and sales. Customer Relationship Management (CRM) software allows companies to manage workflows, develop new clients and manage relationships with other clients.

Customer Service

Many businesspeople believe that the most critical aspect of every business is its ability to meet customer needs. With the right kind of customer support, every business can grow, because the right kind of customer support can improve both revenues to the business, but also customer retention. Researchers reported that over 80% of customers have said they would be willing to pay more for a good customer experience, and that they see it as more important that the discount on an item.

The use of CRM software allows the customer service and support team instant and immediate access to customer details, such as their history of orders, their footprint online, and how they interacted with the company in the past. Additional customer details such as birthday and age, family and even likes and dislikes, are all at the fingertips of the company customer management team. In addition, CRM software allows customers to be placed in categories by their needs, purchases and interests.

Many businesses have stated that CRM software allows for a targeted customer service tailored to each client, which works to increase client satisfaction. While customers increasingly want faster service, they also want exceptional customer service tailored and personalized to them, which means that businesses have to work quickly and efficiently. The investment in CRM tools have been shown to increase customer retention for companies, which leads to greater profits, in some cases, a large rise in profitability.

CRM has also been effective for those companies who either have products that take a longer time to sell, or that are complex with a longer time frame to describe the product and its usefulness. CRM and the data collection abilities of the program helps businesses with complicated products that change business behavior towards customers, and improves the company’s ability to analyze customer needs and offer them products to help them improve their lives or the lives of their business. In addition, information from CRM software allows business to market their complex products to clients, establish a unique and targeted sales approach, create email campaigns and web ads to reach those customers who would most benefit from the product.

Sales

If the primary benefit of CRM software is in customer service management, the secondary benefit of the software is that CRM improves sales for small businesses. Research has revealed that the proper use of a CRM tools in companies can increase revenue by as much as 40%. One of the reasons companies can see such an increase in profits is because of lead generation and lead management. CRM tools help businesses to find leads to new customers from website searches and help the business continue to aid possible new customers through the sales process.

CRM tracking software also allows the sales team to target specific leads and prioritize those leads that look the most promising from those leads that are less promising. Often there are customers that are interested in your product, but just cannot pull the trigger in order to complete the sale. CRM tools work to categorize potential targets for increased contact, while continuing to contact those customers who may eventually agree to purchase products.

In addition, CRM software ensures that the business targets the right segment of the population, casting a small net to target the right customers, rather than a large net to target everyone. CRM tools are able to spot trends within client data, and ensure that the clients who are contacted are interested in the product. Many examples exist of CRM’s targeted marketing tools, in the short term and in the long term. For example, CRM tools can analyze sales data from a cleaning company and found that while businesses were decreasing the frequency of their cleaning orders, homes and apartment buildings were increasing their cleaning frequency. The company then changed its marketing strategy to market towards houses and apartment buildings rather than businesses.

Workflow

Workflow patterns vary from company to company, and whether the company is large or small, all companies can benefit from a better workflow arrangement. Every business has areas they need to improve on with regard to workflow, such as that sales representative who insists on sticking post-it notes everywhere to remind her to do things — in which no one else can even begin to figure out. Manual processes such as sticky notes slow down productivity rather than speed processes up, and the workflows could definitely use some improvement.

Small businesses that use CRM like Copper, help businesses to streamline their workflows and lower management’s burden so that managers and owners can focus on tasks that are more important than trying to get Stella to remove all the sticky notes from her desk, and instead make to-do lists on the computer that other people can see and help her with business tasks.

In addition, CRM software allows businesses to create workflows for their employees that help to streamline the processes for the company, and gradually move the workflow from a new process to an everyday process the company can use for improvement. Routine workflows help workers to follow up on earlier client leads or purchases, work with new customers to make sure their products are working effectively, or handle a customer problem or issue.

The addition of CRM software to a business can help small businesses not only manage clients effectively, but also manage workflows within the company so that the whole company works more efficiently, which makes running the company much simpler.

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How Business Growth Completely Relies on Customer Relationship was originally published in Marketing And Growth Hacking on Medium, where people are continuing the conversation by highlighting and responding to this story.

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