CRM Development Solution

CRM development is a system used for managing relationships with your customers. It is a system used for managing relationships and interactions with customers and prospects all in one centralized place. It helps companies to stay connected with customers thereby improving revenues and customer base and reduces attrition rates.

For a business, the most important and valued assets are its customers. As the business grows it becomes imperative and important for it to have a centralized place to store and view the information about the customers to make better decisions.

Without an automated and centralized system, employees can lose track of customers, their interactions, important information, and miss potential business opportunities. E.g. misplaced customer contact information, two salespersons contacting the same client that can anger the client and possibly gone for good.

CRM system is useful for everyone, for all the stakeholders like sales, customer service, business development, marketing, and many other domains of a business. CRM tool can help in storing the customer information, track and record service issues, manage the marketing campaigns, identify new business opportunities all in one place and disperse the relevant information to the relevant people whenever they need it.

CRM is helpful for all scales of business from small to medium to large scale businesses, everyone can be benefitted from it and drive the business growth. CRM lets everyone in the company see how customers have been communicated with, their recent purchases, purchase history, communication history, service issues, warranty timelines, just to name a few.

Merely using CRM technology won’t benefit you if you don’t have a proper CRM strategy. CRM strategies are the processes that organizations adopt to standardize and optimize the way the CRM tool is to be used for best efficiency and business growth.

At the very basic level, CRM consolidates all the customer information in one place for easy access and easy management. CRM lets us record the interaction with customers over e-mail, social media, mobile, and other available channels.

Marketing Automation: CRM tools can help to automate the repetitive marketing tasks to convert a sales lead into a customer. E.g. it can automatically send the marketing material as soon as a new prospect comes into contact.

Salesforce automation: it tracks customer interactions and automates the business processes that are necessary to entice the prospects and follow the sales leads.

Contact center automation: it includes pre-recorded audio that might assist customers in solving their problems and help in spreading the information. It can handle customer requests cutting the time needed for handling the calls by the agents.

Location-based services: Some CRM tools have geo-location features i.e. based on the customers’ location, they can launch marketing campaigns. This is also helpful in finding a prospect based on the physical location

Workflow automation: CRM systems help organizations to optimize their business processes by streamlining the repetitive tasks, taking the load off from the employees’ shoulders, and helping them on focussing on other important tasks

CRM Analytics: CRM analytics can increase customers’ satisfaction and decrease the churn rate by analyzing loads of data and launching targeted marketing campaigns.

Human resource management: CRM stores the information about the employees like contact information, performance, benefits. Utilizing this information HRs can monitor and manage the employee workforce.

Artificial intelligence: With the advancement in technology, CRM has also evolved with time. AI has been integrated into CRMs to automate repetitive and mundane tasks; identity buying patterns to predict customer behavior to offer them the targeted solutions giving them a consumer delight

Types of CRM

On-premises CRM: Companies with complex CRM needs may be benefited from the OM-premise CRM solution. The responsibility of administration, security, upgrade, maintenance lies on the company which is using the CRM. The CRM software resides on the company’s own servers and usually takes time to be fully integrated with the company’s data and processes.

Cloud-based CRM (On-demand CRM): Also known as SaaS, it is fast, efficient, especially meant for companies with limited technological expertise and resources. Data is stored on the external network, in remote locations from where it can be accessed anytime, anywhere by the employees with the help of an internet connection.

Security of the data is a major concern in the on-demand CRM solutions as the company doesn’t handle the maintenance and storage of the data. Compatibility issues might also arise while migrating the data from the company’s system to the external cloud.

Open source CRM: Open-source CRMs are free to install and use. The code is made public, and this code can be altered by the companies as per their requirements.