With the introduction of customer management policies in companies, they are able to design a CRM strategy . However, technology cannot do much if you do not know how to take advantage of all its functions. In fact, even though CRM has been shown to increase revenue by 41% per salesperson, it is estimated that 43% of companies using a CRM system do not use even half of the features correctly.
In a report for Forrester , analyst William Band surveyed approximately 150 different companies in an effort to identify weaknesses in the use of CRM systems. He found that 18% of respondents reported problems directly related to inadequate strategies. Without a CRM strategy, companies run the risk of losing the opportunity to offer added value to the customer . At ejaimwoficial.com we list some tips to help your business develop an effective CRM strategy.
What is a CRM Strategy?
The CRM strategy is the methodology that allows companies to automate their marketing and sales plan , build customer loyalty and attract new business opportunities by simplifying all processes and improving the quality of service.
The CRM strategy is aligned with the demands of the current market, in which the customer, their needs, their behavior and their satisfaction are the beginning and the final objective of any strategic planning.
CRM in the digital marketing strategy
The marketing plan of any company that wants to compete on equal terms in a globalized market, in which there are no schedules or geographical limitations, must focus on online marketing.
One of the main functions of a CRM is to bring together all the company’s digital marketing tools in the same application.
Online marketing is not limited to the creation of a strategy based on advertising campaigns . Using a CRM system, you can analyze the market to identify the company’s buyer persona , create and monitor sales funnels, and establish communication channels to improve customer service and user experience.
Types of CRM strategy in the company
The objective of any company is to improve the quality of processes to increase customer satisfaction and position the company’s brand as a benchmark in its sector. There are three types of CRM strategy that must be taken into account in proper planning:
- CRM as a global strategic objective. Customer relationship management has become the main objective of modern companies. Strategic plans are no longer organized around the product, so CRM must be integrated into both the philosophy and the mission and values of the organization.
- CRM as a loyalty strategy. To improve the relationship between the client and the company, it is necessary to have a fast and effective after-sales service that solves all their problems.
- CRM in sales strategy. Communication with the customer and the analysis of their behavior allows those responsible for the sales department to control the margins obtained with each product and the user’s life cycle, as well as detect their needs to offer personalized services that increase the company’s income. .
Design of a CRM strategy in 7 steps
1. Set a goal
Above any other function, your CRM must help the company achieve its objectives. Therefore, your first step in implementing a CRM strategy is to identify the objective . Once you know what you’re trying to accomplish, your next step is to determine how you plan to achieve those goals. Break the end goal into short-term milestones, and then plan how and when you plan to complete them. This map should be flexible, allowing for necessary revisions along the way.
2. Prioritize your customers
It is common for companies to want to treat all their customers equally. The problem is that the business world is not a democracy; For a company to be successful, it must be willing to prioritize customers based on profitability . For example, returning customers are often much more valuable, spending on average almost double what new customers spend. Your organization may have its own definition of what gives value to a customer. It’s up to you to identify the traits you value most in a buyer, so you can segment their accounts to increase effectiveness.
3. Communicate with employees
Your CRM may be designed to handle large amounts of data and to facilitate communication between various departments, but it is the employees who will determine whether your objectives are met or not. Involve workers in every step of the CRM strategy . This will help them not only internalize the objectives, but will also make them part of the project. They will be able to better adapt to new policies and technologies in a way that benefits everyone involved.
4. Stagger the changes
If some aspect of the business is not working as it should, you may be tempted to implement new policies and technologies as soon as possible in an effort to minimize any damage. The problem is that too many changes at once can have a negative impact on employee productivity. Keep this in mind and, whenever possible, implement the stages of the CRM strategy gradually .
5. Follow up with clients before the first contact
CRM systems allow data to be recorded at each stage of the customer’s life. Despite this, many companies do not launch their CRM until the client is in their portfolio. Instead, prepare for initial contact with a prospect by using your CRM to catalog what type of information that person shares via social media. It will give you a good perspective to understand what the customer wants, how he expects those desires to be fulfilled, and what he is likely to need in the future.
6. Synchronize everything with the CRM
If other applications are used for certain functions, for example a calendar, agenda, etc., be sure to sync them with the CRM. The best CRM systems will do this automatically, importing customer appointments from the calendar, updating cancellations and sending reminders when necessary. Synchronizing everything guarantees that you are taking advantage of all the functions of the CRM .
7. Evaluate and improve the CRM strategy
Every business has its own challenges, and no CRM strategy will be able to foresee the obstacles that arise. Accept it and reevaluate your approach if it becomes clear that something is not working as well as it should . Remember: Knowing what is ineffective can often be almost as valuable as knowing what is effective. Be grateful for every opportunity you have to identify weaknesses in the system.
Examples of functions and actions to implement in the CRM strategy (Table)
Conclusion: A CRM strategy to achieve objectives
A CRM is nothing more than a very advanced tool. By itself, it is unable to help your business achieve its goals. But when combined with a detailed but flexible business strategy, CRM can help you put customers at the center of your business strategy. It will take time, effort, and a few trips back to the beginning, but if you develop the right CRM strategy, you will have found the potential to refine and capitalize on customer relationships.
