Phases in CRM Process
CRM process involves the activities and strategies that companies use to manage their interaction with current and potential customers. The keyword here is “relationship.” Nurture that with existing customers and they’ll be coming back, which means you achieve customer retention and loyalty. Harness that relationship even with prospects and they’ll be converted into actual customers. In both cases, they translate to revenues that come into your coffers.
A CRM is a significant tool whether you are a freelancer, sole entrepreneur, startup or global corporation. The reasons why a CRM system matters much for a business are far too many if we list down specifics and details. For this section, we go for the big picture. Here are some of them:
(I) Discover: by uncovering useful insights and information about your customers, you are in the position to understand them better – who they are, how and why they buy your products. Identifying and unraveling customer trends and interactions are crucial not only because you can readily anticipate their needs and address their issues but also keep you ahead of competitors who may not be as attuned as you are to customers’ pulse.
(II) Organize: you have the ways and means to keep everything in order – from the whole customer life cycle to customer channel engagement, from sales process automation to marketing campaigns, and from business analytics to storing and accessing customer data, among others. An otherwise string of complex situations and convoluted processes are all streamlined and automated to give you a clearer perspective and solid grasp of things.
(III) Optimize: you can improve, build and manage customer related operations through a host of CRM tools. These are designed to give you the flexibility and convenience you need to be responsive to your customers and at the same time make it easy for customers to do business with you.