CRM, or Customer Relationship Management, is software for managing internal business processes, accounting for transactions, and automating communications with regular and new customers. Today, the value of CRM technology is expected to reach $128.97 billion in 2028, which translates into a CAGR of 12.1% over the next 7 years. Why do companies in the construction sector need to consider cooperation opportunities with a construction software development company, and implement a CRM system?
In this article, the Intelvision team has broken down how to choose CRM software and why it’s worth using it.
Why Does Your Company Need CRM?
CRM is the automation of a company’s key business processes. It is impossible to keep all the data in your head or an Excel spreadsheet—systematization is required. It helps to remind you about a deal, a meeting with a client in time, or a planned delivery of goods.
CRM for maintaining a client base is needed to:
- Record basic customer data: full name, delivery address, phone number, email, and order history.
- Understand what tasks should be completed during the day, week, month, quarter, and year.
- Automate customer interaction processes: send a notification, newsletter, or invoice, transfer communication to a chatbot, and answer a call or message in time. According to industry estimates by Grandview Research, more than 91% of companies with 10 or more employees use CRM to manage customer communications.
- Analyze the sales funnel and its effectiveness.
- Check the availability of goods and arrange delivery.
- Interact with colleagues in a single system for communication, data transfer, and meetings.
Key Benefits Of CRM For Your Business
The benefits of CRM stretch across the entire sales cycle, from identifying prospects and converting them to loyal customers, to keeping them satisfied and returning for more.
Increasing Sales Efficiency
By automating processes, staff and department heads will not have to be distracted by paperwork. The team will be able to focus on the current and global goals:
- Look for prospective customers.
- Build relationships with partners and clients.
- Develop commercial and individual offers.
- Increase repeat sales.
- Get analytical data in reports and diagrams. They do not need to be calculated—any employee can quickly find information.
Improving the Overall Quality of Service
A well-thought-out system helps to automate the communication process with customers:
- Set up a chatbot or email for newsletters with useful offers.
- Add notifications at each stage of the order: agreeing on a purchase, sending an invoice, generating a delivery, tracking the location of a courier, and more.
- Prepare a script to support communication with the client.
- Connect IP telephony, SMS, and email so that incoming data is automatically transferred to CRM.
- Track every client’s action. For example, today we send an invoice, tomorrow we agree on it or offer a discount, and in a few days, we clarify the payment.
- Focus on the availability of the goods—for example, through integration with 1C.
This increases customer loyalty because managers are always ready to help and answer urgent questions.
Built-in Analytics System
CRM has functionality that allows you to view ready-made template reports, as well as customize your own—for example, through end-to-end analytics systems.
These are some of the report options:
- clients data;
- the number of refusals and returns;
- staff efficiency, and more.
Where to Start with a CRM Platform Implementation
Let’s look through the basic process of implementing a CRM system.
Determine Why Your Company Needs a CRM Solution
What do you want to improve or what tasks need to be solved? Gather information from all your areas. You must ensure that all your employees understand the functionality of the CRM system.
Create a Formula to Evaluate the Benefits and Results of a CRM System for Your Company
Measuring specific benefits, such as a $120 million increase in revenue per year or a 10% increase in customer retention, requires planning. Knowing the system benefit calculations is important since they evaluate the success of your client strategy and validate the importance of the system.
Assess if You Need a System to Interact With Other Software (Accounting or Human Resources Systems)
Discuss the ease and cost of integrating with the right platforms so you know what the process entails. What type of software integration will help you best manage your business?
LinkedIn’s Sales Status Report found that 64% of companies find CRM technology effective or very effective. In addition, sales teams using CRM also saw a 17% increase in job satisfaction. Are you ready to start transforming your business and outperform your competitors?