CRM (Customer Relation Management Software) is more critical for B2C business as compared to the B2B ones. CRM software basically deals with managing the customer data which includes quick and efficient order processing, timely customer service and offering value added services to regular customers. The CRM data can be used effectively for future orders as well, by providing information about new products to the customers. Follow-up emails and enquiry calls and recording their feedback are important for taking corrective actions when necessary. Customers are the king for any business. Retail, Fashion, Hospitality and Travel industries deal directly with individual customers. Managing a huge volume of customer data is a complex process. With most of the businesses going online, they are dealing directly with customers more than the agents. Each product or service that goes online is viewed by millions of people and those who buy it also interact with existing or previous customers to get information about the product/service. Earlier, when the customers were offline, the risk factor was limited to the people who interact directly with the particular customer. Now with online trends, anyone can see the negative feedback posted and it can affect the business very badly. A good customer management software can aid in dealing with such situations and win over difficult customers. Another opportunity CRM software gives is that businesses can grow a good relationship with many customers by solving their queries for a product or service in the portal. Engage them in a live chat or emails to know more about their requirements and post relevant products to them which would make buying easier for them. It also helps in cross-marketing based on the customer’s preferences, which further increases the chances of the doing business online.
How can ERP and CRM work together for progressive business?
An efficient ERP including CRM software solutions can help overcome customer related hurdles which an organization faces frequently. The CRM will help the organizations to store and retrieve the customer’s details immediately whenever required. The customer care executive can analyze the data quickly and suggest the best solution to the issues faced by the customer. When the response becomes pro-active, the customer will also be happy to cooperate and settle the matter amicably. Customer care or after-sales service is very important for establishing the reliability of the organization. The best CRM software would deal with:
- Creating and maintaining a customer database, including the leads from various external sources
- Manage the sales team dealing with various products and services. Keeping the sales team busy with the right stream of products and services can improve their efficiency and sales. The right CRM software will let the management follow each team’s performance with different kinds of products and lead them to the right combination.
- Managing the quotations, order confirmations and invoices.
- Maintaining the call logs is very important. If frequent queries are raised by any specific customer or location based customers, the management understands the need for taking actions immediately to avoid any consequences.
- Email marketing can create a strong customer base. The businesses need to keep customers updated for new products or discount offers available in order to gain their maximum attention of the customers. The CRM software can aid the businesses in creating campaigns and email templates for different products and services and mailing them periodically.
- Pipeline management is important as the management can get to know how long it takes on an average for an enquiry to turn to a revenue along with the success and drop ratio. If the drop ratio in a particular line is increasing, the management can take necessary actions to improve the sales team’s performance in that line.
- SEO and Content management are some of the most important features of businesses today. Everyone is trying to make sure their business comes first when people search for products or services they deal into. The need for a Search Engine Optimization or SEO portal is an important part of online marketing strategy. CRM and ERP software can work together to supplement the organizational data available and project the same to become visible to more prospective customers.
For the customer management software to perform efficiently, a good backup of ERP software is very important. The ERP solution will provide the real data which is used by the CRM software to analyze the vulnerable areas and report them to the management immediately. When the accounting and payroll software are integrated into the CRM software, the ERP can give accurate details of how costly a customer is to the organization or how cost-effective the sales team is in the business. Sometimes the problem is high response time, which has to be resolved either by the support team or by improving the support process. Sometimes a system upgrade is required to cut-short the throughput time. The actual cause of delays can be determined using the ERP and can be reduced to regain and retain the customers.
In effect, an efficient ERP and CRM software helps the business to grow a strong and valuable customer database. This database is used by the marketing and support teams to retain the customers and further improve the relations so that they will stay loyal to the brand or business.
Any inefficiency in order processing can be identified at an early stage and can be rectified before a massive damage is made. Faster and better customer service solutions can be targeted since the problem areas can be identified and rectified easily using the CRM database. Value-added services can be provided to the right customers’ on-time to gain more business and reliability among the existing customer base.
The internet is making the world a smaller place every day and the customers are also aware of a lot of changes happening in the world. Timely updates of ERP and CRM software are very important as the attention span of customers are getting shorter day by day.