It costs eight times more to cultivate a new customer than to keep an existing one – a rule of thumb which helps explain the continuing strong uptake of CRM.
Customer relationship management helps businesses to gain an insight into the behaviour of their customers, and to modify their business operations to ensure that customers are served in the best possible way. In essence, CRM helps a business to recognise the value of its customers and to capitalise on improved customer relations. The better you understand your customers, the more responsive you can be to their needs.
Managing customer relationships is important for all businesses, but is critical for service businesses, which rely on repeat customers, ongoing contracts and referrals. CRM can make a huge amount of data manageable and accessible, including:
- Customer contact information
- Multiple contacts per account: with contact info for each
- Multiple addresses per account
- Track & manage current service requests
- Record service history
- Equipment records
- Access records of inventory used & service performed
- Notes/details about any contact with the customer
- Notes/details about the account, service orders, equipment installed
- Reminders about next service due
- Reminders for follow up calls/ appointments
- Track leads and proposals
- Schedule service and dispatch technicians
- Account balance and payments due
- A way to notify customers of changes, updates or new products
A successful CRM system helps a business to use this data to increase customer retention; increase profits; increase competitive advantage by better serving the customer; understand the current and future needs of customers; and manage leads through the sales pipeline by creating a relationship.
The more opportunities that a customer has to conduct business with your company the better, and one way of achieving this is by opening up channels such as direct sales, online sales, franchises, use of agents, etc. However, the more channels you have, the greater the need to manage your interaction with your customer base.
CRM can be achieved by:
- finding out about your customers' purchasing habits, opinions and preferences
- profiling individuals and groups to market more effectively and increase sales
- changing the way you operate to improve customer service and marketing
In considering a CRM it is always best to first decide what your goals are for the system. Thankfully businesses now have a choice of CRM applications that can be moulded upon implementation to work in with new or existing business processes.
Take into consideration things like: 70% of business people spend up to 70% of their time in either Outlook or browsing the internet. If that rings true for your organisation investigate applications that have both a web application and an Outlook plug-in. This will hasten user adoption.
Enprise offers choices of CRM systems that can be stand-alone or integrated at varying levels to MYOB Exo.
Options can be a combination of:
- an approach to creating a consistent approach to the sales process through opportunity management and pipeline reporting
- an engine to record all communications with customers, suppliers or even stakeholders - by linking emails, appointments or tasks to a company or contact, or appending notes or documents for company-wide communication
- a simple to use marketing engine to target monthly newsletters or promotional direct mailing to dissected marketing lists – or even event management
- service case recording with basic resource scheduling for product queries either via web tools or phone queries
The ability to now integrate these to back end systems results in a lot of benefits depending on the level of integration. Sales people and other people within the organisation who have external customer-centric roles can access all information in one application without requiring access to financial or back-end systems. Communication across departments is facilitated by one single source of information being accessed and maintained by everyone.
Enprise has created a specialised tool that can integrate MYOB Exo with Microsoft CRM and populate extra fields to show things such as turnover and account balances; whether an account is on stop credit; already created contacts; and minimise manual data migration to prevent entry errors.
To discuss what you are looking for out of a CRM system and find out how Enprise can help contact us.