5 Facts About CRM

The right CRM software and tools can be essential to improving business, and even more so during a recession. Here are five facts every business should know about CRM.

1. It gives you a competitive advantage
Customers are important to any business, but especially to small businesses. Large businesses can gain an advantage over their competitors through price reductions and bigger advertising budgets, but small businesses need to rely more heavily on customer service. CRM helps you build those customer relationships.

2. It helps new employees learn
While you may know a great deal about your customers, taking on someone new can break this relationship. CRM helps them to learn about your customer base, and which customers have priority over others, so that they can interact with them almost as seamlessly as you can. It also gives them all the information they need to deal with a query, so they are able to resolve it quickly and efficiently.

3. It increases customer loyalty
While price is an important factor these days, customer satisfaction is equally as important. Customers are more likely to return to do business with you again if satisfied with the service you are providing. CRM helps you find the best ways of satisfying your customers, answering their queries and erasing their doubts.

4. Having loyal customers attracts new business
Word of mouth is free advertising, and having satisfied customers means that they are more likely to tell their friends and family about your products or service. This helps you to build your customer base without adding to the marketing budget.

5. It helps management make decisions
Management need to know about customer satisfaction and employee efficiency in order to make crucial decisions to improve or maintain a business. CRM provides the data for them to be able to do this.