5 Reasons Companies are Gung-ho on Customer Relationship Management Tools

Posted by on January 31, 2014 in Business Start Up Advice [ 0 Comments ]

5 reasons businesses are gung-ho on customer relationship management toolsAs a business leader or manager, you may sometimes feel like you are trying to keep a ship from being capsized at sea. Dealing with competitive realities, the general market context and the many challenges that your business faces requires knowing where the best modern tools are, and how to access them.

One of the best resources for an agile business model is called customer relationship management. It’s big in today’s business world. How big? According to Pardot, businesses snapped up CRM in big dollar amounts in recent years. For example,

  • Desk.com spent $50 million on Salesforce
  • Social buying company RightNow put down $1.5 billion on the same technology
  •  And talent management platform Taleo spent a staggering $1.9 billion on Oracle, another CRM provider.

Why are companies so gung-ho? One reason is that versatile CRM tools can do a lot of different things for a firm. Here are five ways to use this emerging technology to your advantage.

1. Phone Popups for Inbound and Outbound Calls

With the right CRM tools, when your salespeople or other employees pick up the phone, detailed screens pop up on their computer or other monitor showing in-depth contact information for whoever is on the other end of the line. This helps close sales, and it facilitates overall communications with customers, where employees can already know the history and the background behind the call, instead of having to ask routine questions.

2. Deep History Resources

You’ve heard the old saying “it’s better to sell someone five cars over 30 years,” or some version of that axiom. CRM can also offer deep history tools that provide a fuller picture of what a customer has ordered in the past. This allows you to make more targeted offers or proposals and serve that customer better over a longer time frame.

3. Employee Orientation

Along with that initial orientation day, with its paper plates, icebreaker games and mandatory lectures on regulations and compliance, CRM can also offer newcomers more information about the business that they can use to battle the learning curve and more quickly adjust to their new jobs.

4. Name and Face Refreshers

There are few among us who haven’t had the experience of blanking out when meeting someone that we’ve already met before. Sometimes, staring at that now-familiar face just doesn’t produce an associated name. For some of us, it’s a once in a while thing, and for others, it becomes an almost insurmountable problem as mental blocks get worse when we think about them.

Either way, with embedded CRM tools in mobile phones, tablets and devices, you can have access to the name AND the face on your screen, which will prevent any of these embarrassing meetings in the future.

5. Keeping Track of Vendors and Suppliers

In most businesses, the customers aren’t the only outside parties that engage in detailed communications with employees or workers. All of those vendors and suppliers that help to deliver raw materials or outside services for business operations often get to know staffers on a first name basis. CRM can help consolidate these relationships by offering detailed folders on individuals who represent vendor or supplier companies.

Think about all of these ways that new customer relationship management tools can help to evolve any size company and help it manage a fuller set of business processes for a sophisticated and high-tech future industry.

(image via freedigitalphotos.net)

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