In an increasingly fragmented world, blanket mass marketing is falling from favour as businesses realise that, to get and stay ahead, they must build two-way personal relationships with their customers.
This is where Customer Relationship Management (CRM) software becomes so important. With a CRM system, a business can collate and maintain centralised records on every customer, regardless of which channel they have used to engage with the business, online or offline.
This means it is so much easier to identify their needs and preferences, and deliver tailored services and marketing to them using post, email, web or even mobile. Adopting this approach ensures that you will increase the revenue generated versus the cost of marketing, and reduce the chances of the customer becoming dissatisfied with your offering.
As an example, investing in a good CRM system will allow you to market goods or services to customers based on their previous purchasing history.
Not only will this mean that you are showing customers what they are likely to be interested in, it will also ensure that you are not marketing goods or services to them that they have already purchased.
The opportunity to cross- or up-sell products or services to existing customers is one of the key benefits of utilising a CRM system, but it can also help a business engage with new customers too.
By profiling your existing customer base, and defining precisely what they respond to, it can provide invaluable insight when you are deciding where to focus your marketing strategy.
Beyond the advantages in terms of building relationships with customers, a CRM system is an excellent way to simplify and streamline the sales and marketing process. With staff having instant access to a centralised record of every customer, it means that they can quickly identify how to deal with a particular customer whether they are speaking on the telephone, via email or face-to-face.