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3 Reasons Why a Good CRM System is Highly Profitable

09-06-2016

CRM means customer relationship management which as its name implies, deals with how businesses interact with its customers. CRM includes certain practices, technologies and techniques that can be used to manage data throughout a customer’s lifecycle. Businesses put high value on their customers, and when they use CRM they are able to retain customers and drive sales growth. Customer retention is quite difficult with the presence of competition offering similar products and services. But with the right strategies, a business will not struggle in ensuring that customers are happy and loyal.

Common features of CRM for Toronto Businesses

Significant financial rewards can be reaped by a business that makes use of CRM in Toronto because the process for evaluating customer information becomes more manageable and effortless. Consolidating information collected from consumers can be both expensive and time consuming, but through CRM software, all customer data will be consolidated into a single database. Aside from making data easily accessible, CRM software functions as an automated recorder that keeps track of all customer interactions from phone calls, emails, social media posts and other channels based on the software’s capabilities. CRM software can also automate various workflow processes like tasks, alerts and calendars so that managers will have an easy time keeping track of productivity and performance based on the information that was logged into the system.

Marketing

Marketing automation is one of the common features of CRM in Toronto. This is a tool that most businesses use to automate repetitive tasks that are frequently used for marketing and advertising purposes. An example is email marketing that makes use of emails to update customers on new products or services. The system automatically sends emails to potential consumers with the goal of turning a sales lead into an actual customer. For a big business, sending emails to tens of thousands of potential customers daily will require manpower, but with CRM the task becomes more manageable.

Sales

Sales force automation means a business can track all the efforts and follow ups between their sales force and potential customers. Repetitive tasks are avoided and the process of marketing to customers becomes streamlined. CRM will help a business manage its sales force in the best possible way so that their efforts will become more productive and financially rewarding.

Customer Service

Customer service automation is one of the more important features of CRM. Responding to customer inquiries can be quite tedious but through contact center automation, pre-recorded audio can help customers receive the information they seek or answer common questions regarding products and promotions. Software tools can be integrated by businesses so that customer representatives do not have to deal with customer requests. It certainly cuts down on the time spent on problem solving and information distribution.

A well implemented CRM can replace traditional processes that are time consuming and inefficient. CRM software allows business to move away from traditional tools like spreadsheets used for data analysis. Data is one of the strategic assets of a business and it can be more effectively managed and analyzed through appropriate CRM software.