In a world where customer engagement and reputation can make or break a company, Customer Relationship Management (CRM) systems are essential for every business. Every company, irrespective of location, should have a well-defined customer journey and a method to track the journey for improving sales cycles. A Customer Relationship Management system allows businesses to monitor their customer journey and engagement more thoroughly. Although many out-of-the-box solutions are available for CRMs, one size does not fit all, depending on business needs. A CRM can be entirely custom-tailored to fit your customer data, journey and tracking requirements.
To gain a better understanding of what a Customer Relationship Management (CRM) system is and what it can do, below is a brief introduction to CRM systems.
Customer Relationship Management (CRM) Functionality
Customer Relationship Management (CRM) systems’ data types and tracking capabilities can be completely customized to fit a business workflow. The system can have different components and integrations to allow businesses to manage customer data effectively and track their journey. For example, if an organization manages social media campaigns for celebrities, a Customer Relationship Management (CRM) system can be composed of the following sections:
- Social Media Management – A component where all celebrities’ social media data is aggregated. Complete data of followers and subscribers will be collected here. Dashboards and tables can be created out of data points like follower counts, engagement, etc.
- Content Management – A component where all uploaded content is managed, and content engagement is tracked. All content can be uploaded, scheduled and then followed through this component to gain insights into how post timing and content types vary in engagement.
- Rewards Management – A component where rewards for followers and subscribers are tracked depending on their engagement levels. Based on different criteria, users can be filtered to provide rewards to your most loyal followers and subscribers.
This is just a simple example of a Customer Relationship Management (CRM) system’s capabilities. Processes can be managed, automated and improved with ease.
Why is a Customer Relationship Management (CRM) system relevant to your business?
In a world where customers are more vocal, knowledgeable and accessible, it’s vital for every business to utilize a CRM system. Customer interactions must be tracked with diligence to grow in today’s world. Every business needs targets for sales and business objectives. Gaining valuable insight is nearly impossible without the implementation of a well-designed CRM, which provides complete overviews and breakdowns of customer service performance. Everything from customer journeys to the number of sales can be closely monitored. The data points a CRM provide will vary depending on the business objectives, which should be clearly defined and visible.