A CRM strategy is not just about the types of CRM you might be deploying and running in your company to segment clients. It is, in fact, much less about what exactly tool you will be using if it’s capable of giving you a deep insight into what your clients are, how they live and develop within your company, and what you are doing (or can do better) about it. Surely, any CRM system example is about the tool – but it is only a support for your CRM strategy, which is about the formalization of ways of application of knowledge that you’ve given thanks to a CRM system. We’re considering below what benefits you get with a good strategy, what CRM tools are good (among thousands of currently existing on a market), and what you should do step-by-step to develop a CRM customer relations management strategy (a.k.a. formalized approach to working with your clients).
Benefits of having a customer relationship management strategy in your company
First of all, we shall highlight the benefits that you might gain after developing a CRM strategy in your company:
- Creating good segmentation of clients and easily reconfiguring it
- Creating a more suitable marketing strategy for each of the client segments
- Fine-tuning the programs of rewards and loyalty for your customers
- Creating more streamlined and all-embracing processes of work with clients
- Based on the previous, tailoring your sales team’s rewards and forming clearer KPIs
- Due to formalized processes, you can create up-to-date procedures in your company to manage it better, cut costs, and onboard new employees easier
- Cleansing data and lowering its duplication
- Know your client at every step of interaction with them, throughout all channels
- Tracking a customer through all steps of interaction with your company, creating more comfortable and personal conditions and product offers
- Benefitting from cutting-edge technologies on the market, which update over time to become even better.
A tool per se is just what you see on the screen as a user interface and in the computing center. But the power of CRM comes from its possibilities – data gathering, linking, analysis, and aggregation. Today, CRM systems are able to perform hundreds of tasks and employ thousands of data fields, forming and analyzing millions of connections. In the next chapter, we’re considering the examples of CRM, which are best on the market as of 2021.
Good CRM examples existing on the market in 2021
- Less Annoying
- Sales Creatio
- Oracle NetSuite
If we now compare or review each and every piece of the CRM system examples on the list, it’ll take an eternity and will turn this reading into tens of thousands of words. So you should do it separately by ordering your CRM implementation team to work on every point on the list above to learn, compare and, eventually, suggest CRM to you as a manager.
But what makes each CRM a great tool – and we can list shortly – is that it has (or shall have) such opportunities and characteristics:
- Ease of use
- Not having too many screens for the end users to work (employees of sales teams and call center) – all most important client information shall fit one-two screens to give a full insight
- Connectivity with other tools that a company uses: back office, sales, marketing, scanned documents storage, document workflow system, etc.
- Giving nice contact management opportunities – throughout all channels
- Customizable to the needs of your company
- Reporting (nice CRM tools shall generate immediate reports and ones for a selected period and information representation, for instance, sales funnel for a particular segment or profitability of a particular customer in previous X months – anything you need to get into the things)
- Having high automation possibilities
- Scalable for the required number of employees and their roles
- Tracking user activity and manage data to be shown to every user role
- Applicable for your particular field of work (different businesses differ – what clients of a retail store must be segmented like will vastly differ from what you’d desire to see while working in a hotel or hospitality area, or a military defense area).
Developing customer relationship management strategies: step by step
Now, when it comes to CRM strategies’ creation, it must be told that companies that have those strategies in their bigger mass outperform those companies, which do not have such. Let’s look at the step-by-step process of elaboration of a strategy to understand that already having it worked out is halfway to a more successful business.
- Define your goals in sales, income, communication, customer interaction, etc.
- Based on your goals, segment your clients to understand your portfolio, company’s strengths, define the products for each segment, know the more profitable segments for you, and customer behavior.
- Build a sales funnel and estimate its current efficiency to define, how and where it can be improved.
- Based on supporting data from the rest of the departments of your company, define the CRM strategy, which will be a formalization of your approach to customers, sold products, offers, marketing efforts, and connected budgets.
- Share and discuss the CRM strategy within your company to revise, improve, and fine-tune.
- Create/improve processes and establish/adjust KPIs to your teams.
- Revise the strategy once in a while (the more often you do it, the better – once a year or once in 6 months is great to respond to market changes).
The strategy shall not be some formalized beautiful document that you will put on the wall and frame it. That’s not something to brag about in front of your shareholders or market participants (although you could). This is a non-static, briskly changing well-documented approach to interacting with your clients based on:
- Their lifecycle and the step of it where they are
- Data and information about a customer
- Client segments profitability and development within your company
- Defined goals of your company for client interaction.
In the end, a CRM is a tool and you shall use it to know your clients to serve them better. Make better products, prolong the life of every customer within your company. Make sales and marketing goals closer to reality, more effective and better performing. That’s what you will reach at the end of the day and these allow you significantly outperform your competitors.