“Customer is the king” is one of the most famous sayings in Marketing. In the traditional business models, the entire focus was solely up to driving customers to buy your product/services and that was all. But, with the advancement in time, customers grew more aware and here we are in the century of Customer Relationship Management.
Customer Relationship Management: Is It The New Trend?
Would you buy any product if the after-sales services are horrible? Or would you buy a product that comes with no service centers? Or maybe would you take service if no one cares about the feedback and makes no change? The answer to all these questions is a clear no and that’s the prominent reason why customer management is important.
Customer Relationship Management, or commonly known as CRM is a technique that uses technology and infrastructure to manage relationships with customers. The CRM process is not what happens after a sale is made, but is concerned with the entire customer acquisition and buying journey.
Another myth around it also says that it’s just involved in sales, but this isn’t entirely true. CRM is put to use to manage relationships with every single individual; be it customers, employees, or suppliers.
CRM technically uses CRM software and CRM techniques to turn an interest into action. Therefore, when you put CRM software in place for your business, you get a streamlined data all in one place. This enhances your decision-making and in the end, the relationship a customer has with the organization.
Digitalization Has Grown Immensely With a Bright Future
With the inclusion of technology, the earliest thoughts were that it will impact only the IT sector. But that was a big misunderstanding. Every single business, big or small is not part of the digital economy. Digitalization is a bigger part of digitization. Digitization meant the inclusion of the internet world in life whereas digitalization aims at the enhancement of the operations by leveraging the internet-based technologies and data.
If you are a business owner, you must know that everything from having a social media account to payment gateways, from having software in your organizations to using big data/data management systems is a part of your enterprise’s digitalization. When a business fully acquires digital technologies and becomes internet-smart, they have a digital Transformation.
What Are The Pros Of Going Digital?
- You get to use the technologies that make your systems more efficient and engaging thereby leveraging the power of technology to operate at economies of scale.
- You get to go global, which means even if you are based in India, you can have clients and customers from the US/UK. Internet technology has made the entire globe a small village which means you get more opportunities for your business to excel.
- When you have technology at most touch points.You improve the entire operations and processes at your business, which leads to lesser errors and increased turnover.
- You get easy access to customer data which can be used to find their preference patterns and specific likes which makes customer acquisitions and management a simpler deal
- With the world of information exposed to your customers, you get a better look at what tactics work and which strategies will be the best. This helps you in customer relationship management and puts your systems in the right space.
There are many more benefits, but with these, we aimed to express the link between customer relationship management and digitalization. Having Microsoft dynamics CRM software at your organization is also a part of your digital transformation and can truly be the most amazing investment for your business.
Ensuring CRM as A Full Proof Plan in Digitalization & Digital Business
Digital Businesses are the business which sells their services mostly through the internet platform for the internet platform and usually by the web. If you look at PayPal, it is a platform as a service to ensure easy digital money transfers. The social media marketing agencies might have physical offices but are digital services providers.
When you go digital, you are exposed to a lot of customers, potential buyers, and your target audience. While the traditional mediums might be enough for dealing with customers that come in brick and mortar stores, with the digital journey managing customers become a big-time investment.
With CRM you actually future-proof your digital journey. Here’s how:
- One Time Investment With Recurring Returns
When you invest in CRM software, you get unlimited access to the platform, the taskbar, and all the data management systems that are fed in it. Many software even has an element of machine learning which further enhances the entire customer journey and thereby bringing in a better name for your business.
- Manages All The Data At One Place
All your customer-related information, from what supplier to what kind of likes and expectations the customers have can be found from the CRM software. This means better data management and efficiency of operations.
- Listening Customers
CRM software seems like a human talking to a human (your customer). Automated emailers, chatbots, and feedback systems, etc. enhance the experience of your customers and you move ahead in your digital journey. Your CRM software conduct conversations as fed in the system which makes the customer feel valued and important. It is a key to CRM and that helps in turning the customers loyal.
- Enhanced Journey Of Digitalization
The CRM software complements your digital transformation. This is because both of them are technologies of the web and can easily be integrated even on different platforms. This reduces the hassle of turning back and forth for data and results and expedites the entire process, both for business and customers.
Customer Relationship Management is a term that goes well in sync with digitalization. Even if you are a digital business, you aim for efficiency in digital processes, and one way to improve it is through CRM. When you put CRM software in place, you are actually ensuring that your digital journey is complete from the source that brings in money; the customers.