Customer Relationship Management
FOR SMALL BUSINESS
Customer relationship management (CRM) is a term that refers to practices, strategies and technologies that companies use to manage and analyze customer interactions and data throughout the customer lifecycle, with the goal of improving business relationships with customers, assisting in customer retention and driving sales growth.
There are many reasons why businesses invest in a CRM strategy. High customer turnover, inefficient processes and unreliable reporting are just a few examples.
There are many reasons why the value of your CRM system is so great. Here are just a few:
A CRM strategy and system will allow you to register your sales leads andcontacts. Usually your customers will not buy from you the first time they arecontacted. Don’t lose them!
It reveals possibilities. Most likely you or your staff have contacted many prospects that have not yet converted to sales. Most companies keep their currentsupplier or consultant until they are ignored or unhappy with the results. That’s why keeping your contacts current in your CRM database is so important.
You can track all customer interaction and information, no matter who has contacted them and when. Next time you talk to a customer or prospect, you won’tbe starting from scratch; you’ll know what that company is about. This provides amore personal and long-term relationship with the customer.
It keeps your customer data accessible. If you have ever had an employee resign or terminated and everything on their computer leaves with them, you will appreciate the value of this. Don’t let it happen to you.