Custom Relationship Management software has made a huge step forward for the past years. Starting the way from enterprise contact and client databases, CRMs have transformed to cloud solutions that can include marketing and sales automation tools, as well as can be tailored to business specific needs and peculiarities. And now analysts predict CRM market will reach 36$ billion by the next year.
Companies of various business industries implement customer relationship management solutions, but the largest one is Retail. One of the examples is connecting a customer loyalty program, a mobile app to provide users with shop discounts, shares, point discount system, etc.), with CRM system. Users registered in the app via phone number or email will be receiving push notifications for sales motivation.
Having analytical tools integrated you also will be able to get real-time data and reports about customer behaviour, purchasing history, their shopping preferences and buying habits, and more. Based on this you will be able to send personalized messages and launch successful advertising campaigns. Thus, more targeted and effective marketing is the result.
Wells Fargo is one of the “Big Four” banks in the USA. Their objectives were to get understanding of their customers, get in touch with them, and improve customer service. So, Well Fargo decided to integrate a CRM solution allowing to send personalized messages, automatic reminders and notifications, and listen to social media conversations to know customers’ opinions, needs, and preferences. As a result they managed to provide better services and increase customer retention rate.
For over 75 years Canon has been delivering innovative and quality products. To maintain leading positions in this field, it is always in search for new opportunities and solutions of different challenges. CRM has become one of them.
Having large sales department and a lot of customer data not captured, the company needed to integrate the software which would enable to get a deep insight in their customers’ behaviour.
Thanks to implementing a CRM solution Canon sales managers have received the ability to gather, view, and analyse customer information including gathering and measuring feedback. CRM also also provides real-time reporting and analyticы, quick request processing, and automatic data updating.
The Financial Times also understands the importance of CRM implementation and CRM benefits as well. They integrated a complex CRM solution to solve different tasks and challenges.
This system has allowed them to collect customer and advertiser contact information, have their accurate and complete view, track sales activities, gather and manage subscriber data. A CRM solution also enables the company to monitor social media presence and analyze customer data.
Thus, as a result of CRM implementation the Financial Times increased customer loyalty, enhance customer service, and improve the number of subscribers.
As you see, CRM solution provides a plenty of benefits and can result in getting great competitive advantages. However, if you’ve decided to develop or integrate one, you need to define its primary goals, tasks, and challenges. This will allow you to determine the features the product must have to solve them.
Also you should take into account the existing software in your company and consider the issue of CRM customization. While choosing CRM, also check out ratings and reviews of other users.
Depending on your business specific needs you also should define whether to purchase a complex rich-functional CRM or to develop and integrate your own CRM solution, tailored exactly to your requirements and having the main features to meet your goals.
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