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Benefits of CRM Activities

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Benefits of CRM Activities

Post by nikhilvegad on Tue Oct 04, 2016 8:29 am

Efficiency
A well-implemented CRM system can replace manual processes that create significant organizational inefficiencies. But CRM systems don't just create efficiency by reducing the use of inefficient processes.

Thanks to the ability of popular CRM platforms to integrate with other systems, such as marketing automation tools, the efficiencies of CRM can enable companies to interact with customers in ways that they wouldn't have the resources to otherwise.

Collaboration
CRM systems give companies the ability to move away from tools, like spreadsheets, that appear to be entirely functional but fall short in a variety of areas.

One of the biggest: collaboration. In even small organizations, the entire customer lifecyle is typically too complex to be managed effectively by one person.

The use of cloud-based CRM platforms allows for employees in multiple departments to more effectively manage their customer relationships and to see the big picture at any time.

Data, data, data
For many organizations, data is one of the most valuable strategic assets, and CRM systems house some of the most valuable data. Of course, data in and of itself is often of limited practical use; its real value comes from data analysis and visualization tools.

Here, popular CRM platforms typically offer a variety of homegrown and third party tools that enable companies to understand their CRM data and learn things about their customers that wouldn't be possible otherwise.

Salesforce's AppExchange, for instance, offers Salesforce customers access to dozens of apps that help them make sense of their Salesforce data and put it to good use.

Increased accountability
When companies lack the tools to mange their customer relationships, customers are bound to fall through the cracks. CRM systems can help ensure that this doesn't happen by adding a layer of accountability to the customer relationship management process.

A well-implemented CRM system helps employees across departments understand their responsibilities to customers throughout the customer lifecycle and when those responsibilities aren't met, it's easy to identify what went wrong, where, who fell short and how to make sure it doesn't happen again.

Improved customer experience
Ultimately, for all of the benefits CRM systems provide to the companies that use them, the biggest benefit of CRM systems is that their use leads to a better overall customer experience.

Customers are more easily and accurately segmented, their needs identified, and because the status of a company's relationship with them is accurately tracked, companies can interact with them meaningfully at the right times, leading to more sales, faster sales and higher customer retention and satisfaction.

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Benefits of CRM activities

Post by p15069 on Tue Oct 04, 2016 11:52 pm

The following are the benefits of CRM activities:
1. Effective time management:-
As CRM prompts users to follow up on activities and automates alerts when important events occur, or if actions are missed.
2. Higher quality lead generation:-
From marketing activities by leveraging CRM customer segmentation to send targeted campaigns and personalized messages that resonate.
3. Improved customer experience:-
With faster response times to customer needs as everyone has access to complete relationship detail wherever they work to engage with clients and deliver amazing service.
4. Communication is a strength:-
Shared diaries, team calendars and service schedules give everyone clear visibility of individual activities.
5. A positive team culture:-
As staff share information, collaborate effectively, and gain a better understanding of other areas in your organisation.

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Re: Benefits of CRM Activities

Post by karishma vahora on Wed Oct 05, 2016 1:20 pm

• Better Sales/Marketing Information. For example, customer names, customer
background, customer needs, competitive positioning, etc. is just some of the information
that is collected as a result of implementing a CRM system.
• Improved Productivity. For example, effective target market identification, reduction in the
number of cold leads, and the ability to provide accurate and on-the stop quotations, look up
inventory availability quickly, enter orders directly from the field, etc. all of which help to
shorten the sales cycle.
• Enhanced Customer Care. For example, more time to spend with customers due to a
reduction in the sales administrative workload, an ability to monitor customer service levels,
and ability to highlight existing or potential customer service problems and to react more
quickly to customer needs, etc.

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Re: Benefits of CRM Activities

Post by Akshat Jhalani on Wed Oct 05, 2016 5:16 pm

Centralized data base – Business people can easily access compete information from a centralized database. Marketing automation – It enhances Workflow capabilities for lead routing, ensuring that no leads are skipped. Customer service and support – Business people can provide quality customer support. Thereby can easily resolve the issues. Robust forecasting and reporting – sales team can easily forecast their sales, which helps to close more deals and bring higher profit. Automates work flow – CRM software helps to enhance the business work flow. Automates process flow across the department. Robust forecasting and reporting – sales team can easily forecast their sales, which helps to close more deals and bring higher profit. Automates work flow – CRM software helps to enhance the business work flow. Automates process flow across the department.

.........Akshat Jhalani

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Re: Benefits of CRM Activities

Post by abhishek.tiwari on Thu Oct 06, 2016 11:37 pm

first of all CRM stands for customer relationship management.It is the backbone of every organisation for their long term survival by maintaining long term relationship with the customers by providing them better and desired services.It extremely helps in retaining the customers because it is not so difficult to get a customer but it is very tough to retain a customer and a better CRM is one and only technique for retaining customers and generating revenue more and more.
The more benefits of CRM activities are as following:-
1.It helps in getting standardized data
2.It helps in formulating integrated customer strategy
3.It helps in creating success metrics.
4.It helps in collection of data.
5.It helps in monitor the customer experience.
6.It helps in better knowing of customers.
7.Decision making is nimble and well informed supported by real-time CRM reporting across all business areas.
8.Effective time management as CRM prompts users to follow up on activities and automates alerts when important events occur, or if actions are missed.
9.Higher quality lead generation from marketing activities by leveraging CRM customer segmentation to send targeted campaigns and personalised messages that resonate.
10.Performance hotspots are quickly identified enabling timely action to be taken to correct issues and reward outstanding achievers.
11.Process automation replaces repetitive manual tasks by cutting admin work and eliminating duplication so teams can focus on profitable activity.

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Re: Benefits of CRM Activities

Post by laveenachhajed on Fri Oct 07, 2016 11:49 am

Customer relationship management (CRM) systems are highly effective in both day – to - day customer management and relationship building with existing customers, as well as the acquisition of new prospects and customers. Many CRM systems are web-based and are reliant on technology, but CRM should not be seen as a purely IT solution, because truly successful CRM is built on a solid sales and marketing strategy.
It is more about your company customer relationship philosophy rather than your enterprises’ technical systems.
1. Building face to face contact
CRM systems save time, money and headcount by allowing both Inside and Direct Sales teams to automate relationship building through low-level marketing communication activity such as automated email sales contact.
This low-level CRM automation means these teams have more time to engage in higher level relationship building and customer acquisition through face to face contact or personal phone calls.
2. Faster Lead Generation
A good CRM can help enormously with lead generation. For instance, many CRMs can integrate with website and social media campaigns, sending leads from these sources directly to the appropriate salesperson. That means the sales team is spending less time cold calling and more time working warm leads, which tend to be far more fruitful. And by tracking each salesperson's activities, it can keep lead lists up to date – so that you don't have five different salespeople calling the same lead.
3. Convenient
If the whole sales team is using the same CRM, then it's easy to share that information as needed. Most CRMs allow you to develop templates for phone scripts or frequently used emails, and the team can share these templates. And remember, many CRMs even support mobile devices, so you can access all that information from your iPhone or enter a few quick notes right from the prospect's office.
4. Improving customer insights
When properly configured, CRM systems can track customer behaviour, helping build valuable buyer personas in your data systems, and helping you know your customer better, and allowing you to offer ever-more insightful responses to their needs. With CRM you can:
• Track customer purchase patterns and preferences
• Profile individuals and groups to target more effectively
• Improve customer service and meet changing needs
5. CRM ROI:
A well optimised system will:
• Increase sales volumes through predictive analysis of historic sales trends
• Deliver a clear understanding of specific customer requirements
• Enable cross-selling and up-selling through historic sales analysis
• Allow accurate measurement of individual customer profitability
6. Better customer services
This closer, more accurate understanding of customer behaviour and their needs means you can now target existing and potential customers with buyer persona-specific personalisation and personalised offers.
This will not only help increase sales volumes and profitability, but will improve customer retention and in so doing, improve sales function efficiency by lowering costs per customer.

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Re: Benefits of CRM Activities

Post by kratikagupta on Fri Oct 07, 2016 12:38 pm

Various benefits of CRM activities are:-
1 To build profitable relationships by maximizing the effectiveness of customer interactions.
2.To access vital customer information anytime, anywhere - even while disconnected.
3.To fill the sales pipeline with qualified leads that brings in consistent revenue.
4.To identify new opportunities, analyze performance and business metrics, and diagnose potential issues.
5.To tailor the system and match your business process and user preferences.
6.To integrate with other business management solutions, desktop applications, and web services - for that complete, holistic view.
7.Having a Business Partner who provides professional services in the design, implementation, training and support.

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Customer Relationship Management

Post by Albert Kunjumon on Fri Oct 07, 2016 7:31 pm

Improved customer relation
One of the prime benefits of using a CRM is obtaining better customer satisfaction. By using this strategy, all dealings involving servicing, marketing, and selling your products to your customers can be carried out in an organized and systematic way. In this way, you can also receive continuous feedback from your customers regarding your products and services. It is also possible that your customers recommend you to their acquaintances, when you provide efficient and satisfactory services.

Increase customer revenues
By using a CRM strategy for your business you will be able to increase the revenue of your company to a great extent. Using the data collected, you will be able to popularize marketing campaigns in a more effective way. With the help of CRM software, you can ensure that the product promotions reach a different and brand new set of customers, and not the ones who had already purchased your product, and thus effectively increase your customer revenue.

Maximize up-selling and cross-selling
A CRM system allows up-selling which is the practice of giving customers premium products that fall in the same category of their purchase. The strategy also facilitates cross selling whic his the practice of offering complementary products to customers, on the basis of their previous purchases. This is done by interacting with the customers and getting an idea about their wants, needs, and patterns of purchase. The details thus obtained will be stored in a central database, which is accessible to all company executives. So, when an opportunity is spotted, the executives can promote their products to the customers, thus maximizing up-selling and cross selling.

Better internal communication
Following a CRM strategy helps in building up better communication within the company. The sharing of customer data between different departments will enable you to work as a team. This is better than functioning as an isolated entity, as it will help in increasing the company’s profitability and enabling better service to customers.

Optimize marketing
With the help of CRM, you will be able to understand your customer needs and behavior, thereby allowing you to identify the correct time to market your product to the customers. CRM will also give you an idea about the most profitable customer groups, and by using this information you will be able to target similar prospective groups, at the right time. In this way, you will be able to optimize your marketing resources efficiently. You can also be ensured that you don’t waste your time on less profitable customer groups.

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benefits of CRM activities

Post by Poorvajain on Mon Oct 10, 2016 9:18 pm

Relationships are the core, central element of a successful Business-Relationship. Having a business strategy in accordance with CRM will benefit the company to quite an extent.
The various benfits of crm practises are:-
1. Gain customer loyalty by these practices.
2. With the help of CRM software one can access vital customer information anytime, anywhere - even while disconnected.
3. To fill the sales pipeline with qualified leads that brings in consistent revenue.
4. To identify new opportunities, analyze performance and business metrics, and diagnose potential issues.
5. To tailor the system and match your business process and user preferences.
6. Improved customer experience.A customer relationship management system will enable you to quickly identify your customers, address their primary needs, and subsequently recommend additional products or services that match their profile. It gives your staff the ability to recognize who they’re dealing with from the very beginning, making them more efficient and more productive.
7. The beauty of customer relationship management applications is that they handle that piece of the marketing puzzle for you. Because your customer and sales information is housed in one place, you have automatic access to a full range of reports on which products or services are selling and who’s buying them.
8. A customer relationship management system can manage to day-to-day administrative tasks for you, giving your sales team the chance to get back to, well, selling.
9. Even in sales, there are mundane tasks that simply have to get done. Scheduling appointments, keeping records up-to-date, tracking follow-ups—all critical functions in any sales team, but ones that require careful (and tedious) attention to detail.
So, CRM is important as; Efficiently dealing with all the customers and providing them what they actually need increases the customer satisfaction. This increases the chance of getting more business which ultimately enhances turnover and profit.



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Re: Benefits of CRM Activities

Post by Chetan prakash on Mon Oct 17, 2016 11:03 am

By using a CRM strategy for your business you will be able to increase the revenue of your company to a great extent. Using the data collected, you will be able to popularize marketing campaigns in a more effective way. With the help of CRM software, you can ensure that the product promotions reach a different and brand new set of customers, and not the ones who had already purchased your product, and thus effectively increase your customer revenue.

Maximize up-selling and cross-selling
A CRM system allows up-selling which is the practice of giving customers premium products that fall in the same category of their purchase. The strategy also facilitates cross selling whic his the practice of offering complementary products to customers, on the basis of their previous purchases. This is done by interacting with the customers and getting an idea about their wants, needs, and patterns of purchase. The details thus obtained will be stored in a central database, which is accessible to all company executives. So, when an opportunity is spotted, the executives can promote their products to the customers, thus maximizing up-selling and cross selling.

Better internal communication
Following a CRM strategy helps in building up better communication within the company. The sharing of customer data between different departments will enable you to work as a team. This is better than functioning as an isolated entity, as it will help in increasing the company’s profitability and enabling better service to customers.

Optimize marketing
With the help of CRM, you will be able to understand your customer needs and behavior, thereby allowing you to identify the correct time to market your product to the customers. CRM will also give you an idea about the most profitable customer groups, and by using this information you will be able to target similar prospective groups, at the right time. In this way, you will be able to optimize your marketing resources efficiently. You can also be ensured that you don’t waste your time on less profitable customer groups.

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Re: Benefits of CRM Activities

Post by Sonu Aggarwal on Mon Oct 17, 2016 7:26 pm

A CRM is a business tool that allows you to manage all your customers, partners and prospects information all in one place. It is referring to practices, strategies and technologies that companies use to manage and analyze customer interactions and data throughout the customer lifecycle, with the goal of improving business relationships with customers.
CRM Benefits


The most important benefit is a 360-degree view of all customer information, knowledge of what customers and the general market want, and integration with your existing applications to consolidate all business information. CRM benefits both the parties i.e. customer and the organization so following are some benefits of CRM  

For customer
With CRM systems customers are served better and with more reliable information, if there is less need to contact with the company for different problems, customer satisfaction level increases. These central benefits of CRM will be connected hypothetically to the three kind of equity that are relationship, value and brand. Some benefits stated below -
 Integrated assistance across channels
 Enhanced sales force efficiency and effectiveness
 Improved pricing
 Customized products and services
 Improved customer service efficiency and effectiveness

For organization
The biggest benefit most organization realize when moving to a CRM system comes directly from having all your business data stored and accessed from a single location.
 Building face to face contact
 Helps in Increasing market share
 Better customer service
 Helps in knowing demand in the general market
 Helps in knowing the latest trends
 Make Customer follow up easy

Before CRM systems, customer data was spread out over office productivity suite documents, email systems, mobile phone data and even paper note cards and Rolodex entries. Storing all the data from all departments (e.g., sales, marketing, customer service and HR) in a central location gives management and employees immediate access to the most recent data when they need it. Departments can collaborate with ease, and CRM systems help organization to develop efficient automated processes to improve business processes.

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Re: Benefits of CRM Activities

Post by kiran.vijay on Tue Oct 18, 2016 12:06 pm

CRM or Customer Relationship Management is a system which aims at improving the relationship with existing customers, finding new prospective customers, and winning back former customers. This system can be brought into effect with software which helps in collecting, organizing, and managing the customer information.
Implementing a CRM strategy is advantageous to both small-scale and large-scale business ventures. If you want to find out what are the benefits of using CRM for your business, then read further to know the key points.

Improved customer relations
One of the prime benefits of using a CRM is obtaining better customer satisfaction. By using this strategy, all dealings involving servicing, marketing, and selling your products to your customers can be carried out in an organized and systematic way. You can also praovide better services to customers through improved understanding of their issues and this in turn helps in increasing customer loyalty and decreasing customer agitation.In this way, you can also receive continuous feedback from your customers regarding your products and services. It is also possible that your customers recommend you to their acquaintances, when you provide efficient and satisfactory services.

Increase customer revenues
By using a CRM strategy for your business you will be able to increase the revenue of your company to a great extent. Using the data collected, you will be able to popularize marketing campaigns in a more effective way. With the help of CRM software, you can ensure that the product promotions reach a different and brand new set of customers, and not the ones who had already purchased your product, and thus effectively increase your customer revenue.

Maximize upselling and cross-selling
A CRM system allows up-selling which is the practice of giving customers premium products that fall in the same category of their purchase. The strategy also facilitates cross selling whic his the practice of offering complementary products to customers, on the basis of their previous purchases. This is done by interacting with the customers and getting an idea about their wants, needs, and patterns of purchase. The details thus obtained will be stored in a central database, which is accessible to all company executives. So, when an opportunity is spotted, the executives can promote their products to the customers, thus maximizing up-selling and cross selling.

Better internal communication
Following a CRM strategy helps in building up better communication within the company. The sharing of customer data between different departments will enable you to work as a team. This is better than functioning as an isolated entity, as it will help in increasing the company’s profitability and enabling better service to customers.

Optimize marketing
With the help of CRM, you will be able to understand your customer needs and behavior, thereby allowing you to identify the correct time to market your product to the customers. CRM will also give you an idea about the most profitable customer groups, and by using this information you will be able to target similar prospective groups, at the right time. In this way, you will be able to optimize your marketing resources efficiently. You can also be ensured that you don’t waste your time on less profitable customer groups.

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Re: Benefits of CRM Activities

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