Customer
Relationship Management (CRM) is a set of technology-enabled business processes
that enables your company to create more consistent and profitable interactions
with your customers.
Customer Relationship
Management,
or CRM, is an important strategy for business that should extend
across all levels and facets of a company. The best CRM platforms are
customized powerhouses that can bring together data from all corners of
an organization as well as outside of it to provide a view of the
business’s customers and consumer interaction. Custom CRM Solutions
Perth are often hailed for their
abilities to improve business operations and growth as companies use this data
to make informed decisions on a variety of marketing strategies.
What some
organizations fail to recognize, however, is just how much is entailed with
CRM, and business leaders can become overwhelmed with managing full client
loads, sales, marketing and customer service. Custom online
database software is geared toward making customer data and leads
management a more streamlined, easily endeavor. With CRM software, businesses
often receive increased performance, efficiency and revenue.
In general,
experts predicted that 2012 would see $12 billion spent on CRM Software, with social
CRM representing 8 percent of total spending at roughly $1 billion. Experts
also predict that by 2016, 50 percent of all CRM applications will be delivered
by Software-as-a-service, or web-based apps.
As
mentioned, businesses can enjoy numerous advantages of implementing a CRM
system. Looking mainly at financial incentives, a custom CRM solution can offer
a business a return on investment of nearly $6 for every dollar spent. On a per
sales person basis, research indicates that a CRM solution has delivered an
average of 41 percent increase in revenue. In addition, CRMs contribute to a 23
percent decrease in sales and marketing costs on average. Customer retention
improved by 27 percent with a CRM.
For larger
organizations, CRM Solutions become even more important to deal with the
problem of big data. Research indicated that 24 percent of a sales person’s
time is spent looking for information, which equates to an approximate revenue
loss of $2.6 billion for the average Fortune 500 company. The problem with big
data is that it can commonly result in the loss of opportunities, and nine of
every 10 sales people attribute lost opportunities to information overload.
However, roughly 75 percent of sales people agree that they would be able to
close more deals with the assistance of big data technology.
As social
media best practices continue to evolve, many are still noting the value of
data found on social platforms. Social data can be integrated with an
organization’s CRM, allowing that valuable information to be applied,
assisting with important business decisions.
If you would
like to know how you can improve your Customer Relationship Management Strategy,
processes and software and are interested in working with consultants that are
local, guaranteed and deliver solutions that are simplified, you should get in
contact now to book an obligation-free appointment at http://crmperth.com.au/contact-us/ and do a mail enquiry@CRMperth.com.au you can feel free to call us: (08) 6102 7284.
