In short, a CRM strategy refers to a system that’s used for managing all your company’s relationships and interactions with your potential and existing customers. The right CRM strategy will help your company improve relationships with customers across the board, which in turn, increases revenue by boosting the lifetime value of each customer. A CRM system is a software program which is used for contact management, email workflows, leads, sales management, productivity, and much more. And, research has shown that companies using a working CRM system and strategy tend to enjoy increased revenue by over 40% per salesperson, on average.
So, what can you do to improve your company’s CRM strategy?
#1. Establish Clear Goals:
First of all, your main aim should be to establish clear goals and objectives for customer relationship management. Your CRM strategy should not only have its own set of goals, but also be designed to help your brand meet overall objectives both short- and long-term. Perhaps you are hoping to achieve a faster and more efficient system for handling complaints or are looking for higher-value leads? Whatever it is, it’s important that this is clear and well-established from the outset.
#2. Use the System Across All Departments:
Many businesses use a CRM system but they are not utilizing it to its full capacity. The best strategy is to have a system that not only helps one department in particular, but is used company-wide. One of the biggest advantages of using a good CRM system is that you can use it to track a possible customer right from the moment that they first make contact with your brand all the way until they become a fully-fledged, paying return customer. As a result, marketing will benefit from a good CRM system just as much as the sales department, from email workflows to social media campaigns.
#3. Prioritize Customers:
It’s common for many organizations to want to treat all their customers as equals, but this isn’t always the best customer relationship strategy. In fact, learning where and who to prioritize when it comes to your customers and prospects can product better overall results for your CRM strategy. Growing research shows that return customers tend to be much more valuable than one-time buyers, often spending almost double in comparison. And, it’s usually far easier to market and sell to your existing customers than it is to acquire brand new ones.
Finally, you can get even more from your CRM system by using the wide range of automation tools that are available today. You can sync your CRM system to your email account, for example, in order to ensure that all your contacts are in one easy to reach and manage place. Check out this article on the best way to keep Outlook and Hubspot in sync from PieSync if you’re hoping to automate your CRM system even further.
Today, a solid CRM strategy and reputable system is essential for all brands.