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What is CRM? Why it is Important for Businesses - Dilshad Delawalla - ContactCenterWorld.com Blog

What is CRM? Why it is Important for Businesses

What is CRM?

What is CRM?  CRM is an acronym for Customer Relationship Management.  It is also a technology tool that helps to manage customer relationships.  SugarCRM is a CRM Software tool used to increase sales.  When managing customer relationships with Sugar, customer experience improves.  Excellent customer experience improves customer retention.  This results in increased sales, and businesses make customers for life.

What is a successful CRM?

Successful Customer Relationship Management (CRM) is an art, science, skills, and technology.

Customer Relationship Management is the art of creating enduring positive connections with customers.  These connections keep bringing them back for new purchases, refer others, and stay loyal customers for a very long time. Thus making customers for life.

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It is the science of learning, understanding, and applying the various influencing factors in the decision-making process of customers.

Customer Relationship Management is a skill (a set of skills) acquired and applied by successful businesses to convert more leads.  It also keeps happy and loyal customers who give them repeat business for a long time to come.

CRM is a software that empowers businesses to forge strong bonds with customers because it manages and automates information collection and communication with the customer.

SugarCRM provides a platform with advanced technology to build successful customer relationships and enable businesses to make customers for life.

Importance of Customer Relationships

A business can not exist without a customer. Customers purchase the products and services that business works so hard to produce. They provide the financial resources needed for the survival and growth of the company.

Healthy relationships with customers are crucial to the life of a growing, thriving, successful business.  Acquiring a new customer is six times more expensive than upselling and re-selling to a happy and loyal customer.

Customer relationships are not new. All businesses, for centuries, had this relationship in different forms and at different levels. A company can not exist and thrive without healthy relationships with customers and prospects.

Different Forms of Customer Relationships

Customer Relationships are established and managed at different levels and in various forms.

An e-commerce company selling widgets maintains this relationship by sending the order and delivery notifications, survey requests, customer service updates, and marketing emails with product enhancement and new product announcements.

A bank or credit union has an elaborate structure to maintain and nurture these relationships. Most of the time, it starts with a single bank account or loan.  Later this continues to grow to home loans, business loans, and financial advice and management services. Banks strive to manage customer relationships so their customers will send them referrals, and the loyalty to their bank will pass on for generations.

A manufacturing company, a professional service provider, an educational institution, a government department, a non-profit – all have customers.  These customers will give business to companies where they have strong relationships.

Where there are customers and prospective customers, there is a need to maintain and grow relationships with them so their experience is enjoyable and convenient.

Having a robust CRM like Sugar is essential for success in managing customer relationships so that they make customers for life.

SugarCRM – Customer Relationship Management (CRM) Software Tool

SugarCRM aims to deploy the latest technology in support of businesses so they can improve sales to prospects, serve customers better, generate repeat business, upsell to current customers, create strong bonds of loyalty, which result in business growth.

Latest CRM Technology offered by SugarCRM

We are SugarCRM experts, partners, and consultants.  We provide to our customers all the latest technology Sugar provides for enhancing customer relationships.

Sugar assists in having accurate data management without manual data entry.  With Open API structure, no-limit on API calls, Add-Ons like Hint, it enables automatic data entry, saving hundreds of hours for teams each year.  Having pertinent and accurate data readily available for reports and dashboards makes sales and management processes efficient and successful.

It automates processes like follow up, alerts, reminders, customer notifications, and other tasks saving time for the sales team so they can sell more and following business processes accurately.

SugarCRM centralizes prospect and customer-related information so the entire team can have easy access to mission-critical data.

SugarCRM can become a hub to store all forms of communication with prospects and customers.  It saves time and effort when the entire team can read calls, meeting notes, task results, and email exchanges that related to an opportunity or project.  Thus reduces the chances of making mistakes or losing important information in translation.

Excel Spreadsheets can never capture all these different data sets, in one place, that a business needs.  They take hours upon hours of updates and management, not to mention the time required for reporting.

Why you need SugarCRM? Let’s see some examples

Lead Management Process Automation:

When a lead visits your website or calls your office, often you get a name and email address along with a message ‘Call her.’  Now imagine having one screen where you go to this new lead and get all professional information about her and her company available on the internet.  With a click of a button, you can import this information into your CRM and get ready to make the first call.

The call got you her voice mail.  You know it takes at least six touches to qualify a lead.  Your company already has a process defined for these touches. There are some informational emails, calls, and event invites that are set up in a series of automated steps.  You add this lead to the automated follow-up cycle with one click.  Now it adds follow-up calls to your calendar at the right time, and you will get a reminder to make those calls.  Before your next phone call to her, she received emails with pertinent information. It will help you to have a useful conversation about your product or services and answer her questions.  SugarCRM saves you time and improves the quality of your connections with the lead. It is thus improving the chances of closing the sale.

Improve Customer Experience with a 360-degree view

Another example is when you are getting ready to visit one of your top customers.  To prepare for this meeting, you review their company record in SugarCRM. In Sugar, you review all the recent customer service tickets they have created and the status of all the orders they have recently placed.  This information helps you identify any pending issues that you can get fixed before the meeting or research enough information to answer questions during the session.  SugarCRM saves you from being blindsided.  Thus it gives you all the information you need to have a great meeting with the customer.

There are many more examples of how we can automate your business operations, save time, and enhance your customer’s experience by designing SugarCRM to meet your business needs.

We can help you make customers for life

I will love to connect with you over a demo of SugarCRM so I can show you all the latest technology available for your business to manage customer relationships.  Click here to schedule a time that works for you and your team.

If you are currently using SugarCRM, we can help your team make better use of your investment.  Click here to contact us.

Source: https://www.makecustomersforlife.com/what-is-crm/

Publish Date: March 12, 2021 11:58 AM

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