Why is a CRM system essential? And why should you buy such a package?
In our opinion CRM software is important for every business. This type of software is at the foundation of every thriving business.
This is because CRM focuses entirely on the single most important resource for any business - your customers and potential customers!
Without customers, no sales, no profits, and no successful business.
A CRM helps you with three things:
How CRM enables you to do this is explained later in this article.
Did you know that a whopping 74% of companies using CRM say they have better access to customer data? They say this enables them to provide a more personalized service to their customers. We couldn't agree more.
Looking for comprehensive insights and practical advice on driving business growth during financial challenges? Then get SuperOffice's free e-book "A Leader's Guide to Business Growth in Tough Times" now by clicking the button below:
* This article is made with the help of CRM expert SuperOffice. With their extensive knowledge, of CRM-software, they added many valuable insights to this article. Also, their very complete e-book has been used as a basis for this page.
Below we give you three reasons why CRM is so important for any business. You will also get concrete examples with these reasons. These examples will give you a better idea of how CRM can assist you.
Below are the three biggest reasons why CRM software is so essential.
As you can see, these are indispensable facets for any business. After all, what company doesn't want to attract new customers? Retain more customers? And upsell more to existing customers?
Let's start with the first reason what endorses the importance of CRM.
A CRM helps you attract new interested parties to your product or service.
New customers make you less dependent on your existing customer base. New business also provides energy and growth in terms of turnover.
Enough reason to focus on customer acquisition in addition to customer retention! But how does it help you attract new customers? You will discover it below.
To achieve customer acquisition, you need to be present in the places where your target audience can be found. For B2B sellers, it's essential to choose the right channels.
After all, what channels do your potential customers use? Are they mainly on LinkedIn or do they search for organizations like yours themselves through search engines? Or do you still find them mainly in offline places, such as events and trade shows?
Want to know how to acquire new customers through CRM? Discover everything about this topic on our knowledge partner SuperOffice their page.
A CRM system is ideal for improving your customer retention, or in other words, keeping your existing customers.
"Keeping your customers happy is like tending to a thriving garden - the more you nurture it, the more it blooms."
When a large portion of your customers walk away, that's a big problem. Of course, you can replenish these dissatisfied customers with new customers. But wouldn't it be much easier to keep your current customers? At least we think so!
Runaway customers are like a leaky bucket. You can keep putting water in it, but without plugging the hole there is little point.
But how do you make sure your customers are and stay happy? Right, this is where your CRM comes in again.
CRM software helps you retain your customers in the following four ways:
Watch the video below. In the video, you will see how a CRM system can be used to improve customer centricity:
Below, let's zoom in on how a CRM solution helps with these 4 points on how to retain your customers:
1. Obtaining feedback from your customers
Create simple surveys and collect valuable feedback this way.
Consider here, for example, the well-known Net Promoter Score. This measurement method gives you a first insight into how satisfied (or dissatisfied) your customers are.
Example of a question you can ask your customers:
"On a scale of 1 to 10, how likely would you be to recommend us to a friend?"
2. Improve after-sales
After selling your product or service, offer quick and helpful customer service. You can manage this, too, through a CRM. For example, you have live chat features, ticketing systems for your help desk and much more.
Is your customer dissatisfied? But do you have good customer service? Then chances are you can easily fix this "problem." We also call this the "Service Recovery Paradox." This theory holds that a customer with a complaint who is well served is often more satisfied than a customer without a complaint who has not interacted with customer service.
3. Preventing customer churn
Did you know that 85% of customers walk away because of poor service? CRM software helps you improve this.
In a CRM, you have all your historical contact moments at hand. This ensures that you know better what your customers want. As a result, you respond better to the needs of the individual.
Did a customer call your customer service with a complaint about product X? Then you can respond perfectly. You can see in your CRM that there has already been contact about this. The customer service representative therefore knows exactly what has already been discussed. This helps you to offer your customers a better service experience.
4. Turning unknown visitors, loyal ambassadors
The dream of every business: "Unknown potential customers who become loyal ambassadors of your company."
Do you get this done? Then you have gold in your hands.
Happy customers in some cases become promoters of your brand. In fact, these promoters take over the role of your marketing department. Where normally a marketing employee tries to sell your service, now it is your (more than) satisfied customers who sing their praises.
Your ambassadors provide the word-of-mouth advertising. Through this powerful form of Marketing, your promoters bring in new customers for you at no cost.
But how do you make sure you get loyal ambassadors? Here's how, with the help of CRM software, you get promoters:
Using CRM software simply gives you a better idea of what your customers and potential customers want. Better understand what your customers need and turn those unknown visitors into loyal promoters of your business!
Every B2B company, with its existing customers, is sitting on a potential gold mine. Your current customer base is the perfect group to sell more of your services to (cross-selling). Or to sell a more expensive service to (upselling).
Are you doing the above effectively? Then, using CRM software correctly will result in additional sales from your existing customers.
This is because your current customers are already familiar with your product/service. This makes them more receptive to additional offers or a more expensive version of your service.
It is simply easier and cheaper to capitalize on your existing customers than it is to bring in new ones.
Did you know that a new customer costs you 5 times (!) as much as retaining an existing customer?
Here are the biggest benefits of CRM software.
More explanation of these benefits? Read SuperOffice's article via this link.
Now that you understand why CRM plays an essential role in the success of your business, it's time for the next step.
Make sure you maximize the benefits of an effective CRM system and discover how it can grow your business, even in challenging times.
Want to discover more in-depth insights and practical tips on business growth during financially difficult times? Then download our free e-book "A Leader's Guide to Business Growth in Tough Times" now via the button below:
Take the first step toward a successful future for your business today!
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