Customer relationship management.pptm
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Customer Relationship Management (CRM) is the art of managing an organization’s relationships with its customers and prospective clients, focusing on understanding customer needs and enhancing satisfaction for higher retention. It involves various strategies and technologies, including CRM software and cloud solutions, to streamline interactions, improve efficiency, and ultimately boost profitability. Key benefits of CRM include better customer service, improved communication, and enhanced collaboration between sales and marketing teams.
Customer relationship management.pptm
- 2. CUSTOMER RELATIONSHIP MANAGEMENT CRM In an organization, sales representatives have the responsibility of creating brand awareness and making products popular among the end users. They are the ones who interact with the customers, understand their requirements and fulfill their needs and expectations.
- 3. WHAT IS CUSTOMER RELATIONSHIP MANAGEMENT ? The art of managing the organization’s relationship with the customers and prospective clients refer to customer relationship management. Customer relationship management includes various strategies and techniques to maintain healthy relationship with the organization’s existing as well as potential customers. Orgnaizations must ensure customers are satisfied with their products and services for higher customer retention. Remember one satisfied customer brings ten new customers with him where as one dissatisfied customer takes away ten customers along with him. In simpler words, customer relationship management refers to the study of needs and expectations of the customers and providing them the right solution.
- 4. NEED FOR CUSTOMER RELATIONSHIP MANAGEMENT Customer Relationship Management leads to satisfied customers and eventually higher business every time. Customer Relationship Management goes a long way in retaining existing customers. Customer relationship management ensures customers return back home with a smile. Customer relationship management improves the relationship between the organization and customers. Such activities strengthen the bond between the sales representatives and customers.
- 5. STEPS TO CUSTOMER RELATIONSHIP MANAGEMENT It is essential for the sales representatives to understand the needs, interest as well as budget of the customers. Never tell lies to the customers. It is a sin to make customers waiting. A sales professional should think from the customer’s perspective Don’t oversell. An individual needs time to develop trust in you and your product. Never be rude to customers. Attend sales meeting with a cool mind. Keep in touch with the customers even after the deal. The sales manger must provide necessary training to the sales team to teach them how to interact with the customers.
- 6. WHAT IS CUSTOMER RELATIONSHIP MANAGEMENT (CRM)? Customer relationship management includes the principles, practices, and guidelines an organization follows when interacting with its customers. CRM is often used to refer to technology companies and systems that help manage external interactions with customers. Major areas of growth in CRM technology include software, cloud computing, and artificial intelligence.
- 7. THE PURPOSE OF CRM Customer relationship management (CRM) is a technology for managing all your company's relationships and interactions with customers and potential customers. The goal is simple: Improve business relationships. A CRM system helps companies stay connected to customers, streamline processes, and improve profitability.
- 8. ADVANTAGES OF CUSTOMER RELATIONSHIP MANAGEMENT Enhances Better Customer Service Facilitates discovery of new customers Increases customer revenues Helps the sales team in closing deals faster Enhances effective cross and up selling of products Simplifies the sales and marketing processes Makes call centers more efficient Enhances customer loyalty Builds up on effective internal communication Facilitates optimized marketing
- 10. TYPES OF CUSTOMER RELATIONSHIP MANAGEMENT (CRM) TECHNOLOGY 1. CRM Software CRM software aggregates customer information in one place to give businesses easy access to data, such as contact data, purchase history and any previous contact with customer service representatives. This data helps employees interact with clients, anticipate customer needs, recognize customer updates and track performance goals when it comes to sales. CRM software's main purpose is to make interactions more efficient and productive. Automated procedures within a CRM module include sending sales team marketing materials based on a customer's selection of a product or service. Programs also assess a customer's needs to reduce the time it takes to fulfill a request.
- 11. TYPES OF CUSTOMER RELATIONSHIP MANAGEMENT (CRM) TECHNOLOGY 2. CRM Cloud Solutions Cloud-based systems provide real-time data to sales agents at the office and in the field as long as a computer, smartphone, laptop or tablet connects to the internet. Such systems boast heightened accessibility to customer information and eliminate the sometimes-complicated installation process involved with other CRM products or software.
- 12. TYPES OF CUSTOMER RELATIONSHIP MANAGEMENT (CRM) TECHNOLOGY 3. CRM Human Management and Artificial Intelligence All of the computer software in the world to help with CRM means nothing without proper management and decision-making from humans. Plus, the best programs organize data in a way that humans can interpret readily and use to their advantage. For successful CRM, companies must learn to discern useful information and superfluous data and must weed out any duplicate and incomplete records that may give employees inaccurate information about customers.
- 13. BENEFITS OF CRM FOR BUSINESS Improves Informational Organization - CRM identifies, documents and records all the interaction that customers have with the organization. This helps businesses to understand their customers better and provide instant solutions. Ensures Enhanced Communication - CRM is cloud-based and never disappoints customers as it makes information accessible from any device. All the customer needs is an internet connection. CRM enhances Your Customer Service - With CRM customer support becomes a cake walk. This is because, when the customer reaches out to the company, the executive would be all equipped to retrieve information on the activities like the recent purchases made, priorities and any other assistance that customer requires. Automates our day to day tasks - A CRM is developed to automate performance of multiple tasks of the employees. This would help employees to focus more in converting leads and addressing customer issues while the CRM is at their disposal to take care of the details. Greater efficiency for multiple teams - The stored information entitles the users of different teams to access emails, phone calls, and calendar details from a secure and easily accessible console. The best part of CRM is that users can same data by multiple teams at the same time by tagging the required team to access the information. This new find, simplifies the work for the teams and gives the possibility to seamlessly work together to enhance the bottom line. Delivers accurate analytical data and reports - CRM systems archive data in one place that prompts enhanced data analysis. The tool is developed to easily integrate with plugins and other tools that can generate the possibility to generate automatic reports to maximize your time. This helps the users to make effective decisions to reap the rewards in customer trust and get good revenue in the long run.
- 15. 1. Lead Management Sales reps can automatically capture leads from multiple sources and segment them according to characteristics such as demographics, buying behavior, tastes, and preferences; this can be done through the Leads Module in CRM. By getting key insights from the marketing department, salespersons can enhance the sales process by tailoring their response to each individual lead. Being able to move leads through the entire sales funnel is a challenging task and lead management is a feature that can simplify this task. 2. Activity Management The activity management feature makes the life of sales reps easier by keeping a record of all their activities including performed & scheduled ones. This functionality of CRM reduces the chance of missing an opportunity. It keeps track of all scheduled meetings, calls, tasks etc. and provides a holistic view so that nothing is left unattended. Moreover, you can also utilize CRM and Telephony integration to easily make calls and provide the best customer service. Sales professionals can also set priority against their scheduled activities and are notified each time a task such as a call or meeting is due. CRM BENEFITS FOR SALES REPS
- 16. 3. Centralized Data Before any sales call even begins, sales reps will have all the relevant data about the customer at their fingertips. The sales reps will know who the customer is and what product they are interested in based on the past call history. This will shorten the duration of the call and enable the rep to serve the customer in a more personalized manner. 4. Pipeline Management According to CSO insights, 27% of salespersons say that a long sales cycle is one of the biggest barriers to sales effectiveness. The smartest way to track leads and prospects in the sales pipeline is to use a CRM. Sales pipeline maximizes sales potential and segments the entire lead database into different categories. It helps salespersons plan effective strategies to move leads from one sales stage to the next and notifies them whenever a lead moves to the next level. With data displayed in the form of charts, sales managers can measure the sales dollars and closure rates of potential sales and determine if sales reps are meeting their daily, weekly and monthly sales targets. CRM Benefits for Sales Reps
- 17. 5. Sales Forecasting A CRM will provide management mechanisms with real-time data that can be analyzed to optimize the performance of the organization. By monitoring data sets related to call volume, case times, up-sell rates, revenue per call etc., managers can devise strategies by leveraging Sales CRM to retain clients and augment sales. 6. Mobile CRM Mobile CRM empowers sales reps to access customer data & customer accounts on their mobile phones/tablets on the go. By having access to crucial information such as product information, account history, price lists, etc., sales reps can make well-informed decisions quickly and respond to leads faster. Less time is wasted searching for a contact and trying to recall the conversation you had last time and more time can be spent on having productive and meaningful discussions. Hence, the result of using Mobile CRM Development services will be an accelerated customer buying process, leading to improved conversion rates. CRM BENEFITS FOR SALES REPS
- 18. 7. Unity between Sales & Marketing A customer demands nothing but excellence. To build excellent customer relationships, both the sales and marketing departments need to work in harmony. With CRM, marketing and sales departments can now stay updated by having access to real-time data related to a customer’s profile. Marketing automation features in CRM allow the marketing team can pass on the leads to the sales team without any manual effort. The sales team can then act on those leads and try to convert them into deals. 8. Document Sharing Having a dedicated document library keeps files organized for quick reference, avoids various versions of the same document from being posted and allows files to be shared easily. This is especially true for industries like real estate. It becomes even more important if an enterprise has offices in multiple countries and sales teams spread out geographically need to collaborate to serve clients. This is the reason why Real Estate CRM plays a very crucial role. CRM BENEFITS FOR SALES REPS
- 19. 9. Email Tracking Sending email campaigns to customers and not knowing how they were received on the other end can be demoralizing. With an email tracking feature, sales reps can have complete knowledge about who opens their emails, when they open them and whether they clicked on any links that were attached to the emails. With access to real-time information, you can act instantly while your leads are still hot. 10. Reports Reports generated through CRM deliver sales reps and sales managers unified view of all key sales information including the set targets and performance assessment data. Using a personalized dashboard, salespeople can easily track their progress with insights on overall achievement to date. CRM software can give salespersons an easy way to benchmark their performance and strive for improvement. CRM BENEFITS FOR SALES REPS
- 20. 11. Analytics With CRM analytics, salespersons can target individual customers, know which customers lead to most profits over time, etc. They will be able to better forecast consumer preferences, envision subsequent requirements and resolve other issues that influence various business decisions. CRM analytics leads to improved customer relations and customer retention. 12. Social Media Insights Leveraging CRM integration with social media tools lets you gain detailed insights into your customers with regards to their demographics, tastes and preferences, buying behavior, etc. This will help accelerate the sales process by allowing you to identify the leads that have the highest probability of being converted into deals. https://www.rolustech.com/blog CRM BENEFITS FOR SALES REPS
- 21. PERSONAL ATTRIBUTES OF A CRM ROLE » Good Communication Skills » Self-control » Good work ethics » Patience » Ability to relate/ empathies » Willing to help when needed » Willing to work for stretched hours/ to go extra mile » Work well with others » Keen to read and upgrade knowledge » Good at Public Dealing » Always have a positive state of mind
- 22. THANK YOU