One common priority that is found among companies is the quest for increasing sales. While there are several proven methods to increase overall company sales, many organizations have turned to customer relationship management (CRM) software to help drive revenue.
When effectively selected and implemented, a robust CRM software solution can incorporate all applications throughout the enterprise to take a proactive approach to customer solutions. However, to actually increase sales, the company has to use the information that is captured and reported on by the CRM system.
While it appears to be merely a sales tool, a CRM software solution actually supports the overall management of the customer relationship. As companies are consistently facing tighter competition in their market space, focus on the customer relationship becomes a priority in order to protect the base.
During interactions with customers, the CRM software can capture pertinent information regarding customer preferences, habits and anticipated future spending. With this information, companies can then tailor solutions that match customer profiles. When a particular customer is contacted or that customer contacts the company, their account is reviewed for potential add-ons and upgrades.
When a customer is presented with an offer that is perfectly suited to their needs and preferences, they build the perception that the company listens and is in tune with them as a customer. Every customer likes to feel as though their business is the most important for the company and customized service is the perfect way to communicate their value.
Companies can also benefit from CRM applications that are industry-specific. Consider an organization that is operating in the telecommunications space. The contact center supporting that organization interacts with customers on a daily basis. When speaking with a particular customer, the agent can access the customer’s profile, which can be matched with current offerings that are likely to appeal to the customer.
While the customer may have contacted the center regarding an issue or question, the agent is equipped to not only resolve the purpose of the call, but to also cross-sell or up-sell the customer on another service or product offering that results in an increase in revenue.
CRM software solutions can also be used to capture and store information on individuals or companies that are not yet customers, as well as data on the overall market. By capturing this information and organizing it into useable reports, the company can target specific prospects, armed with the necessary knowledge to not only get in the door, but to also close the sale.
There is a wide variety of benefits that a company can realize with a CRM software solution. The keys to maximizing its value in the sales division are to be selective when choosing the solution and ensure implementation promotes use throughout the enterprise.
Susan J. Campbell is a contributing editor for TMC (News - Alert) and has also written for eastbiz.com. To see more of her articles, please visit Susan J. Campbell’s columnist page.