Sales professionals generally utilize the Customer Relationship Management (CRM) platform to manage a company’s relationships and interactions with potential and current customers. The CRMs of the current are evolving to the purpose wherever they’re higher equipped to manage the relationships that an organization has with its customers throughout the life-cycle of a customer. This article will explore the four ways in which CRMs can use to enhance customers’ experience.
The Different Types of CRMs
There are three kinds of CRMs: operational or analytical, and collaborative. Although all CRM software share essential functions, the main functions of each differ.
- Operations CRM: These streamline and automate the sales marketing, service, and sales processes. The function that operational CRMs play is to produce leads and transform them into contacts while simultaneously capturing the entire information. They also assist in providing support throughout their lifetime.
- Analytical CRM: Their main purpose is to analyse customer data gathered from different points along the customer’s journey. Analytical CRMs aid companies make better-informed choices and allow departments in marketing to analyse the effectiveness of their marketing campaigns, the sales team to boost sales. The service department to enhance the quality and effectiveness of customer service.
- Collaborative CRM: This lets a business share customer data among departments, such as marketing, HR, sales IT, customer service and more. Collaborative CRMs allow all departments within a company to have the same objective of improving the customer experience, boosting the loyalty of customers, and also acquiring new customers.
CRM Core Functionality
Three main functions are common for every CRM platform. Contact management is used to save contact details like names, numbers, emails, addresses, and social media profiles in an easily searchable database. Interaction tracking can take notes and record customer interaction past to record interactions with particular customers. Lead management allows brands to control the process of turning leads into prospects (potential customers) by making sure they are identified, scored and advancing them through the funnel of sales. Additional CRM functions could include:
- Email marketing integration
- AI-based decision making
- Automation of workflows
- Support for integration
- Reporting/dashboard and Analytics
- Sales forecasting
- Live chat
- Chatbots with Conversational AI
- Integration of call centres
- Document management
- Sales pipeline management
- Mobile CRM
- Management of social media
CRMs enable Brands to create higher Relationships with Customers.
A majority of CRMs can automatically send emails to customers, such as after a specified number of days have passed since the date of purchase by the brand.
It lets a brand keep in touch with its customers through customized emails that include relevant information, coupons, offers or seasonal promotions, and incentives.
A CRM Can Improve Customer Service
CRMs offer immediate access to all interactions that a customer has had with a particular brand, such as purchases, chat history, and customer service tickets. It allows support personnel to quickly lookup customers’ information as they interact with them.
The support team can identify whom they’re talking to the minute they receive a call since the number of the customers is linked to their name. They can address the customer with a name and know about the customer’s latest purchases. If the customer requires additional details on a product, the customer support personnel will be able to immediately find the relevant information about the item. CRM Software provide an all-encompassing view of every customer, including all the data gathered regarding a client at the time of their first contact with the brand. It also allows brands to remain in contact with their customers to continuously assess their satisfaction in their relationship with the company.
Faster Response Time
A study conducted by auto dealing sales conversion found the dealers that responded within 6 hours or less had a 40 per cent increase in conversion rates. Dealers who responded in one 1 hour or less are 48% less likely to close a deal. For customer service issues, the study by the CRM company Super Office found that 31.2 per cent of the surveyed customers expect a response in 1 hour or less, and 11.3 per cent anticipate receiving a response within 15 minutes.
A lot of CRMs use AI and process automation to determine customers’ sentiment through analytics and provide faster responses to customer support inquiries and social media posts. The CRM software can identify issues and issues on social media that could jeopardize a brand’s reputation. Brands can immediately respond to complaints from customers and eliminate customer issues before they cause harm. Birnbaum explained, she believes that when it is about customer service, time is crucial. “Our research has shown that 77% of consumers want issues to be addressed within a matter of minutes after contacting customer service. In addition, more than 70% will cancel the purchase if they experience an unpleasant experience with customer service.
Personalize Customer Communications
By studying demographics of customers and online browsing habits as well as purchasing habits and social interaction, CRMs enable segmentation of customers to a greater level, allowing the brand to determine the way it interacts with each customer. Based on a person’s previous interactions with the brand, CRMs enable the brand to send a specific message to the customer through the channel that the customer prefers, which could be social media, email or even voice communications.
CRMs are usually connected to online brands. However, CRMs aren’t only for businesses that operate online. Brick and mortar businesses use CRMs to enhance their customer experiences and establish an emotional connection with their clients. Advisor to customers in the automotive dealerships industry, discussed how he’d used CRM to improve customer experience by personalizing it and establishing a strong emotional connection between the company and its customers. When the CRM is coupled to the service advisor’ tablet within the service drive, the shoppers is greeted by name even before they go out of their vehicles. When contacted during the service follow-up call, customers remember that ‘WOW’ moment because it is so rare.
Many companies are currently using CRM software to increase sales. However, CRM software can be an effective tool to improve customer service. CRMs can establish better relationships with customers, increase customer service, provide quicker response times, and tailor customer communications by enhancing the customer experience across all channels.
Advika Apte is a serial entrepreneur at Techimply, with experience in the technology-driven field. She’s keen to share her knowledge on a few technology-related topics with readers that can assist any kind of business. Her passion for helping others keeps her motivated.
To read more on topics like this, check out the Business & Finance category