Most companies today utilize some form of customer relationship management solution. Unfortunately, many of these CRM solutions are focused on business-to-business sales rather than business-to-consumer needs.
Too often POS transactions, marketing campaigns, and ecommerce are not part of the B2B system. B2C operations need a more cohesive approach. Today's consumer can move so freely from one channel to the next that they may enter and leave a sales funnel several times over several days before conversion to purchaser.
* Providing quick response so that every contact, whether a phone call or a tweet, can be supported by information about the customer's values and needs in order to provide the best service possible.
* Every conversation can produce new information that gets recorded and shared company-wide. This gives all employees further useful insights in a variety of situations involving communicating with that customer.
Facts about CRM
You gain better understanding of customers
A B2C CRM solution gathers all the information on each customer and stores it in one place. Each interaction creates more input to give a more complete picture of each customer. The capacity to present a more personalized portrait of the customer and their tastes allows you to provide them a better experience.
These experiences bring more confidence in your brand and its value, leading to more recommendations to family and friends. This has a big impact on consumer purchase decisions.
This data, or any specific information contained in it, can be analyzed either on its own or with any subset or total dataset information. This allows the system to make predictions on customer buying habits and forecast trends. CRM also tracks the various interactions of the customer (phone, social media, etc.) to ensure that the same offers aren't repeated to the same customers.
CRM is a philosophy
CRM is more than just a business application. It's a tactic for strengthening customer relationships. It gives your company greater appreciation of your customers and the value your business offers them. With CRM, you can make smart decisions on building customer loyalty.
B2C CRM allows every department in the company to work on the same goal. IT, finance, marketing, sales, and so on have greater knowledge of who their customers are and what they want. This enables them to better manage sales, orders, service, and contracts. CRM provides value to all aspects of doing business.
Knowing your customers and what to expect of them allows you to plan better. It ensures better communication and more collaborative efforts when everyone is operating with the same information and focused on customer satisfaction.
Protects crucial data
CRM gives you the means to customize the sales cycle, from the marketing campaign to a repeat sale. You can see what attracts customers in each marketing campaign, investigate why a regular customer hasn't purchased in six months, or see what demographic is most likely to purchase a particular product. CRM provides in-depth customer data that helps drive sales and is therefore very valuable to your company.
Many businesses are content to utilize their customer data through shared spreadsheets. These get edited, copied, and saved to meet various needs, and in the end different users are working with different sets of data. Corrupt and outdated files mean you could be missing out on information essential to closing the next deal. However, a CRM solution ensures everyone is up to date with valid information.
Remote user access
Sales teams don't have to be stuck at their desks; they can be even more effective from the field thanks to mobile technology and cloud CRM solutions. This ensures that sales professionals can utilize customer data in presentations or negotiations wherever they take place, and at any time of day, even across borders and time zones. Mobile access to sales data can improve productivity by nearly 15%.
Remote computing continues to expand in business use not only for the convenience but the security it offers. There is no more risk of lost data or stolen mobile devices when the essential customer information is stored on a host's expertly maintained and secure servers. A cloud CRM solution means you don't have to purchase software or licenses, apply updates, or worry about hackers. All of that is provided to you, and all you need is internet access for your sales personnel to get the same benefits, and more, as an in-house system.
CRM is customizable
Companies vary widely as to the specific products and customers, and therefore their CRM needs. While it's important to find a CRM solution that best fits your business, today's CRM systems are becoming more flexible. They can be tailored to specific needs by selecting your own features and settings from a number of options. Often interfaces can be customized from user to user, ensuring that each individual can personalize it for maximum efficiency. This increases the likelihood of user adoption and the software's overall value to the business and its customers.
Analytic features of the best CRM software can evaluate information related to email campaigns or buying habits to improve lead quality and upsells. Establishing performance metrics such as KPIs and hierarchies of aggregated data can generate useful reports. Regular analysis allows you to stay informed on who your customers are and how they interact.
More effective customer conversation also allows you to gather more information. Customer feedback is important and generally forthcoming. A study from tech firm Cisco found that over two-thirds of U.S. consumers were willing to supply more personal information if it meant better service.
Make CRM work for you
CRM is more than an IT system or a customer database. Used with these facts in mind, B2C CRM can help to build a customer-focused culture within your business. The ability to create better customer service and a better customer experience will boost sales on a long-term basis more than the cleverest ad campaign could accomplish.