» Benefits of Customer Relationship Management (CRM)

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Benefits of Customer Relationship Management (CRM) www.ketusoftware.com/blogs/why-does-your-business-need-CRM.aspx

Companies need to understand the benefits that can be reaped from a deploying a good CRM system in their organizations.

1. Competitive Advantage

Knowing customer’s preferences well is always an added advantage over other competitors and also for business growth. An insight into customer requirements based on historical data can help in forecasting customer demand and serving them at the right time.

2. Storage

Storing customer information, data, emails, status and many more is one of the other important advantages of having a system in place. This helps in centralization of data which can be accessed by employees as and whenever required. The data can also be used as case studies to train employees. Similarly, centralization of emails can too help in connecting missing dots in the communication.

3. Security

A good CRM system can ensure that all important information is kept safe and secure both from tangible and intangible losses. Having an automated system also helps in minimizing information storage on papers, which stand more risk of being easily manipulated or tempered with human intervention. Using CRM, you can set access control on the use of information and track or monitor how, when and by whom the data has been accessed.

4. Efficiency

Delivering the right solution at the right time is very important for business continuity and gain a competitive edge in the market. Employees can act optimally if they have access to the right data at the right time. CRM leverages this idea to facilitate employee efficiency by allowing proper dissemination of data by which they can schedule tasks accordingly and serve the customer better. This also helps the employer to keep attack of assigned task of the employee through various interfaces and see how customers have been served.

5. Customer Acquisition and Retention

CRM can support in identifying the target audience, focusing on the right mix of marketing efforts and providing prompt solutions, which enhances customer satisfaction and ensures customer loyalty. In this way,both acquisition and retention costs reduce to a considerable extent

6. Integration

CRM integrates all the applications, processes and interfaces to aim at superior customer services and solutions. By making the flow of data seamless and allowing applications to talk to each other, customer information can be churned properly to produce better and faster results.

7. Growth and Improvement

CRM systems can generate reports and metric based on data using advanced intelligent methods to help know how the business is doing and where it needs improvement or which processes to be streamlined. The system indicates actionable items for creating a niche customer base.

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