CRM: advantages and efficient marketing strategies you may implement

How to use a CRM system? Here is one example to briefly explain the function of customer relationship management solutions. Imagine you are a medium-sized B2B company with a large amount of customer data daily. Hence, every day, you learn about potential ways of generating revenue, and you need to process and analyse data properly to increase sales and conversion. Precisely for these goals, you can develop a CRM system to consolidate disparate information within one solution. 

In this post, we touch upon the question of CRM benefits for enterprises and the most widespread types of CRMs. So, if you have been thinking of centralising data on leads, customers, and prospects in a single space, please keep up with reading this article.

First things first: what is CRM system?

CRM (customer relationship management) encompasses technologies and approaches for the organisation’s outreach development and management; optimisation of client interactions. The system establishes space for continuous communication between the company and clients – both existing and potential. Thus, for the company, implementing CRM improves customer satisfaction, loyalty, and retention. The system is comprehensive and versatile, so each and every request, demand, preference or complaint is accessible for employees to process. For customers, CRM is beneficial in terms of better service/product support and timely interactions with the business.

Modern customer relationship management is centred on various types of data utilised for informed and efficient decision-making. This data is located within different channels, from social media and website interactions to emails and calls. Each channel can serve as a reservoir for analysing buying behaviours customers’ current needs and preferences. 

CRM exceeds the capacities of database and communicative channels solely with customers: it enables employees to contact vendors, contractors, and suppliers.

The benefits of custom CRM development in 2024

CRM tools can be both cloud-based or on-premise. Either way, the system provides businesses with numerous advantages, including robust security protection, real-time access and update delivery. The core set of benefits contains the following:

• Improved products/services/ experience and customer service

A deep understanding of customer’s needs underlies excellent customer service. When your staff members have seamless access to clients’ purchase histories and interactions, they can deliver more value for customers while consulting. As a result, you obtain enhanced client loyalty. 

• Effective cooperation within your company

Picture that you have hired a new salesperson. How do you teach a new employee to follow the tried and tested strategies for closing the deals successfully? You can do so through a CRM system, where all the ideas for up-selling and cross-selling are preserved. Similarly, account managers can take full advantage of data already prospected and qualified by a sales rep.

• Multiplied productivity 

Since a multitude of manual and administrative tasks can be effortlessly automated by Custom CRM software, your team can concentrate on fundamentals – nurturing leads and making successful deals. Therefore, a company gains a competitive edge. Among the examples of operations that can be automated are email marketing, logging, reporting, lead generation and others. 

• More accurate forecasts

All sales and marketing performance results are diligently analysed within the CRM solution; thus, your team gains insights on conversion rates by deal velocity, average deal size, etc. It helps find out promptly which strategies work and which are not successful. No less importantly, a comprehensive analysis of conversion rates is critical to enhanced forecasting and informed decision-making. 

Four kinds of CRM software which are worth considering

Even though more types of customer relationship management are available nowadays, we highlight four primary kinds:

1. Conversation CRM. As the name suggests, the system focuses on conversations with customers, so sales and marketing specialists can obtain background information about clients before contacting them. Therefore, it assists your team in making conversations more seamless and tailor-made, which leads to efficient results. 
2. Contact CRM. This system primarily helps staff members gather personal information about customers, for instance, work anniversaries or birthdays. It helps to establish continuous and personalised interactions and more lasting connections. 
3. Leads and Deals CRM. The solution aims to log interactions from the first communication to the final point of the deal. Leads and deals CRM highlight the roadmap for your employees to convert a lead stage to a deal phase. 
4. Marketing CRM. Such systems contain marketing automation features and customer service instruments. Marketing CRM optimises the process of tailored messaging to multiply your business’ chances of conversions. An experienced CRM software development company, PNN Soft, may also integrate CRM retargeting into your marketing CRM. If you are interested in unleashing the whole potential of retargeting, read the next paragraph. 

What is CRM retargeting, and how can you benefit from its strategies?

CRM retargeting works with a marketer’s first-party data (provided by customers themselves) and matches it with other channels, like email, social media, etc. Thus, businesses do not need to seek answers to questions about clients’ preferences – they simply analyse information from multiple communication channels. Accordingly, companies set up personalised and efficient marketing campaigns, following various strategies:

• Upselling and cross-selling. To gain clients ‘ loyalty, provide potential or existing clients with targeted recommendations, discounts, and membership options. 
• Dynamic creative retargeting. Retarget those who accessed the landing page and send them messages to encourage further communication with a brand. For instance, it can be a useful quiz for selecting the most suitable product for customers. 
• Event promotion. Offer either online or in-person events for loyal customers to develop personalised interactions with them.
• Special offers. Re-engage your clients by delivering fresh content similar to the previous products/services they enjoyed. During the holidays, you might also re-engage seasonal customers.

As you can see, CRM systems possess a whole range of efficient strategies to help your business grow. If you want to implement technologies that spell success for your company, don’t hesitate to reach the PNN Soft team – one of the leading CRM development companies.