In the modern business world, knowledge is your most important resource, but simply accumulating information will not do you much good. As you learn more about customers, you must be able to store and organize the data you gain or you will have little chance of using it effectively. A Customer Relationship Management, or CRM, system offers the greatest potential for saving, retrieving, and interpreting customer data. With a quality CRM platform, your business can:
Keep Up with Contacts
A common element of company mission statements is the idea that every contact has value, whether or not they make a purchase when you first communicate with them. Just because an individual or organization didn’t buy anything when you talked to them does not mean that they are no longer potential customers. A successful company must endeavor to serve everyone they have the potential to benefit, regardless of what their first interaction is like. Because you talk to so many potential customers on a daily basis, however, it can be hard to keep track of all your leads, complicating your mission to follow up on all opportunities.
A CRM platform remembers all the people you contact, whether they buy your product or not. The system will store their information in a way that is easy to retrieve, and can organize these files according to data that is relevant to their likelihood of making future purchases. You can then contact them again once you identify a new opportunity.
Say that your company sells advanced lighting technologies designed to save energy. In your initial marketing campaign, you may find consumers who are interested in the concept, but aren’t willing to get rid of the lights they already have. Using the CRM, you can store information on these individuals and then contact them again when they are likely to need new lights— say, during the winter when they are decorating their houses, or after a storm that may have damaged their outside lighting.
Cater to Past Customers
In addition to keeping track of contacts, successful companies must make rewarding past customers a central part of their mission. People who have bought from you in the past are likely to make additional purchases in the future, so following back up with them is one of the best investments you can make in your business. As with potential customers, the system will remember key details about past buyers, allowing you to tailor future pitches and products to their unique characteristics. By catering your services to previous buyers, you encourage customer loyalty and ensure a steady stream of revenue for the long haul.
Centralize Your Storage
One of the greatest barriers to using information effectively is disorganized, decentralized storage. In many offices, each employee has different information on customers, with some parts of it on paper and others storied digitally. This means if an employee leaves the company or can’t find one of their files, you may lose the information entirely.
CRM platforms gather customer information into a single, centralized platform, where you can access it at any time. This process is paperless, and the software and equipment required for it relatively inexpensive. Your business will thus have little trouble holding onto key information affordably and effectively.