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30 May 2022
Give the CRM Edge to Your Business
Written by Gauri Kalurkar
Customer relationship management systems (CRMs) have seen significant changes within just a few years.
The use of CRMs is no longer limited to large corporations with massive client databases. Small and medium-sized businesses can also benefit from CRMs like Microsoft Dynamics 365 and many others. Here’s how the advantages of customer relationship management systems can help your business grow.
What is CRM?
Customer relationship management (CRM) is a software program that helps you keep track of all your company’s partnerships and interactions with customers and prospects.
CRM software streamlines the process of collecting, organizing, and maintaining client information in a single location. It improves customer service, builds stronger relationships, helps boost retention, and ensures the success of your sales and marketing efforts.
Why Does Your Business Require a CRM?
To Boost Customer Satisfaction
Using a CRM can improve your customer service by safely maintaining customer data. This ensures that all of your customer service, marketing, and sales dealings are done in a systematic and structured manner.
You may also utilize customer relationship management software to support clients by better understanding their challenges. Receiving ongoing feedback on your products and services from customers is also possible through the use of CRMs.
To Improve Analytics
The use of analytical CRM technologies makes your data more accessible, clear, and relevant to the demands of your business. CRM is how all your sales, finance, and marketing data come together to show visible metrics.
In addition, data warehouses and data mining help you make sense of it all. The result is increased customer acquisition, retention, and improved data administration.
For Better Accountability and Transparency
You may enhance openness in your organization by assigning tasks, showcasing work, and clearly defining roles when you use a CRM system.
If sales are your primary priority, you can implement sales performance tracking for individual sales representatives. With a CRM platform, you can provide everyone in your company with a better grasp of your business processes, leading to more collaboration and cooperation.
What are Your CRM Choices?
CRM applications include those used for automating the sales force, marketing, customer service, support, and email automation.
Cloud-based CRM solutions such as Social Media Management, Customer Experience Management, and Activity and Participant Management are just a few of the new CRM applications available.
Finding a new piece of software can be a real challenge. Since most organizations’ processes and software solutions change over time, a one-size-fits-all approach to software is complex.
As a result, you will need to choose between purchasing an out-of-the-box (readymade) or custom-developed software. Here are some of the most broadly-used customer relationship management applications:
- Hubspot
- Salesforce
- Microsoft Dynamics 365
- Zendesk Sell
- Freshsales
And, just in case your organization requires additional convincing to implementing a CRM, here are the benefits of doing so:
- A CRM is already in use by 91% of companies with more than 11 employees.
- CRMs allow you to access your data more quickly, which reduces the time it takes to close a deal.
- A CRM system might assist you in increasing sales by as much as 30%.
- CRMs help you to increase client retention and satisfaction rates.
What is Microsoft Dynamics 365?
You can transform your business by utilizing the mix of CRM and ERP technology provided by Microsoft Dynamics 365. Acres Group, McGladrey, and Bio-Techne are some of the many companies that rely heavily on Microsoft Dynamics 365.Dynamics 365 holds 8.9% of the market share for CRM applications, divided across the top 10 CRM suppliers/apps. Dynamics 365’s initial release included the following six applications:
Sales – By increasing the speed at which sales are generated and closed, users are able to create and track connections with their customers.
Operations – Managing the entire supply chain, from raw materials to finished goods.
Customer service – It aims to keep customers happy by providing them with timely, individualized service that exceeds their expectations.
Field service – Using this service, customers may schedule their mobile workforce, monitor remote assistance, and manage contracts and inventories.
Project service automation – It has features for managing resources, contracts, and budgets from start to finish and a variety of other features.
Marketing – Using Adobe Marketing Cloud, businesses can use marketing links sales and marketing services to help generate revenue.
Conclusion
Now that you understand how CRM might benefit your business remember to also consider the above factors while comparing different CRMs.
Start assessing your alternatives or contact consultation services and see if that particular CRM is a good fit for your company. IncubXperts can help you in that journey – apart from Dynamics 365 implementation, we specialize in building cloud-based and on-premises enterprise web and mobile solutions.
Stay tuned to find out why MS Dynamics is the best CRM for your business!