Customer Relationship Management (CRM) software is a vital tool for many businesses today. It is invaluable in sales and marketing, both for attracting new customers and retaining those who already patronize the business. So what would happen to these businesses if Customer Relationship software was no longer available to them?
For many businesses, everything comes down to information. In order to market your product you need to know as much as possible about your customer base – what they want; what they need; how they make purchasing decisions; how quality, price and service contribute to their impressions of a company; what market segments are you not appealing to; why do you not appeal to these segments? During and after sales, successful businesses need to know what their customers have purchased, do they have any other needs, who is their primary contact, was the customer happy?
If CRM software were to disappear tomorrow, all the information that businesses store on it would disappear also. Many businesses would grind to a halt without it, and would have to divert many employees to the herculean task of trying to reassemble vast databases of knowledge. In the future, all of this information would have to be gathered by individual employees, taking their time away from other important tasks and incurring huge costs as further workers needed to be hired.
Even if this information remained when Customer Relationship Management Software was gone, the world would still not be rosy for companies. Information is nothing on its own. At best it is useless, and at worst stifling. In order to be useful to a company, information needs to be analysed and understood, with all the dots joined up and links made in order to make vital insights, develop strategies and implement those strategies. This is precisely what Customer Relationship Management Software allows companies to do, both in marketing and sales. Without it, countless man-hours would have to be spent in trying to analyse this information, and undoubtedly valuable insights and links would be lost due to human error.
Internal company improvement would also suffer without Customer Relationship Management software. One of the most valuable insights that this software gives is weak links in company procedures and personnel. Customer Relationship Management software enables analysis of every step of the marketing and sales chain, giving companies the information they need to refine and improve their service. Perhaps cold-calling to sales conversion rates have dipped, or a highly anticipated brochure has not reaped the success that was foreseen. Potentially, a particular branch is vastly outperforming other comparable branches, and would be an excellent case study in how to improve staff training. Without Customer Relationship Management software, these successes and failures would be much more difficult to critically appraise.
Clearly, were Customer Relationship Software to disappear tomorrow, many businesses would be devastated. Costs would increase, efficiency would decrease, and customers would receive vastly inferior service to what they had come to expect from these companies.
This article was written by Workbooks, leading supplier of web-based CRM software.