There is no need to overstate the importance of customer relationship management for organizations. In gathering information about prospects and leads and in converting them to paying and repeating customers, CRM plays a huge part, and as such, organizations cannot afford to not use the right tools and practices in managing their customer relations. This is where CRM software comes in, and in this post, we will talk about the business benefits organizations can gain from using cloud CRM software. we intend to extend the discussion and include more points in this post.
A Comprehensive Application
The biggest benefit of CRM software comes from its all-encompassing nature. CRM is not one thing – it is a combination of so many processes and tasks carried out by a variety of stakeholders from multiple business units. Traditionally, these different employees used different systems since they could not have a common comprehensive platform for the same. As a result, there was chaos and incompatibility, which led to reduced efficiencies and lack of effectiveness of operations. What they needed was a comprehensive application that can help manage all the aspects of CRM, not a simple one which in effect makes the process more complex. This is what cloud CRM software has come to be. The different CRM tasks including marketing, sales, and customer support, are carried out from the same application, leading to better cohesion in operations, and greater collaboration.
This centralized application also offers other benefits, the chief of which is visibility. Since CRM is very important for the organization’s fortunes, senior management is also very interested in its happenings, and it is not often that they can enjoy the visibility that this software brings. Without visibility, they would have to rely on second-hand reports and old data. With the software though, a few clicks will give them all the information they need, without bothering anyone or wasting anyone’s time.
Another thing to note is that this comprehensive application can also be extended in scope by the intelligent addition of other solutions through integration. This enables users to toggle through multiple applications from the same interface, saving time and improving convenience.
A lot of data is collected in the course of CRM. This includes the very important such as consumer buying patterns or the very trivial, such as the number of likes on a given social media post. All of this data needs to be managed properly for it to be useful for the organization. There is no point in gathering data and not using it – it can be a huge asset when used the right way, and a humungous waste of time when it is not. Therefore, you need to have the right systems in place to manage this data. But don’t worry if you don’t – simply deploy CRM software, you can do it. With its integrated data management module, CRM software will help you with effective and meaningful management of data. You will be able to store and retrieve data easily, and share relevant data with everyone. Say a sales rep figured out a particular way to approach a customer, this information can be shared with everyone so that they can also follow the same.
The management part of data also includes analytics – the processes and practices used to gather something from the data, something that can be used to gain an advantage for the company. CRM software often comes with an integrated analytics suite that helps crunch the numbers and gather insights that can help contribute to CRM. Since the software offers different levels of access to different stakeholders at different levels of hierarchy, analytics can be accessed by everyone. Further, these analytics can also be automated. Users can get the software to deliver them reports of their choosing whenever they want. A senior manager wants to know how many leads were generated last week? Simple. Just click a few buttons, and the software will set up the delivery system. Analytics with the software are convenient and meaningful – they can really make a difference to the way CRM is carried out. And since CRM is something that involves a lot of numbers, analytics become invaluable for users. These analytics are far-reaching in scope, and help with different aspects of the CRM process.
A 360-Degree View
As mentioned earlier, CRM involves multiple stakeholders from different business units to collaborate. While this happens, it might be hard for the stakeholders to step back and gain a 360-degree view of the process to see where the process is lagging and how it an be improved for the future. Not when they use CRM software though. With the CRM solution, you gain visibility into everything, which means that it is easier to make course corrections when compared to in its absence. Also, online CRM solutions can be easily integrated with other complementary applications to provide you with greater visibility into everything. The solution can also be enhanced with various add-on applications that offer more convenience to users since they can access multiple solutions from a single interface, and don’t have to bother with data transfer from one application to another.
CRM software has come a long way from the old clunky applications which used to hang half the time and not be very useful the other half. With online CRM solution, issues like accessibility, integration, and so on can be solved. Take the example of your roving sales reps. If you did not have this software, they would have to memorize everything and print reports to be prepared for the meeting with a prospect. If something changes, and the prospect wants some more information, the sales rep would have to get back to the prospect. How great would it be if the sales rep can complete transactions at the client location immediately even if the prospect is looking for something else? This is where mobile accessibility with cloud CRM software comes into the picture. With the mobile solution, sales reps and other CRM specialists have their office right with them, ready to be accessed as and when they need to. Gone are the days when technology was hard to work with – today’s solutions are much more user-friendly, and help organizations become more flexible and dynamic.
A Handy Assistant
CRM software is a handy little assistant for all the stakeholders involved in the process. It enables them to be more effective and efficient in implementing their plans and gathering data. Whatever it is that the stakeholders want to do – implement a marketing campaign and measure the results, follow a structured funnel down the lead to customer funnel, or share data with others to improve the way you sell – the software will assist him or her in doing so. It is a personal assistant for everyone – you don’t necessarily need to command an office space or be high up in the hierarchy to warrant one.
In CRM, avoiding mistakes is as important as implementing best practices. Many people watch out for the latter but not the former. What your CRM solution does for you is to help you avoid mistakes that you would normally make. Further, the software will provide analytical evidence for everything. You want to implement a new marketing campaign, and the software will help you target the right prospects for best results. Want everyone to collaborate with one another instead of working in their own silos, the software can facilitate that. Basically, it is a great companion for all the stakeholders in CRM.
Apart from all of the above, one factor that weighs in favour of cloud CRM software is that you don’t have to shell out the same amount of initial investment that you would have had to do with an on-premise application. Cloud solution also means continuous and consistent access to your data on demand. With more and more vendors upgrading their update cycles and providing customers with about two to three updates in a year, cloud solutions are more updated than on-premise solutions, and more easily.