Customers are important. Because the success of your business depends on how you manage and treat your customers. If your customers are happy with your service, then you’ll keep rocking in the coming days. And if your customers ain’t happy, you know the consequences, I reckon.
However, it’s not a secret that everyone whether you are a startup or an established brand with millions of customers want to treat their customers well so that they can get their customers back again. But do you ever think why someone gets the ball in their court and someone doesn’t?
It’s because they know the current trend to manage their customers. And that is to use the latest CRM technology for any business to organize and act on every phase of a customer journey. You might have been acquainted with CRM but not with the latest CRM technology. Well, no worries. In this blog, we are going to discuss it elaborately. So, let’s get started!
Why Latest CRM Technology is Important for Your Business
Before diving into the latest CRM technology, let us show you why it’s important for your business.
CRM has been traditionally thought of as a tool for sales and customer success teams. Times have changed and CRMs are now a crucial part of a company’s wider tech stack. Marketers can use CRMs to best understand the contacts in their pipeline and monitor how CTAs convert.
Customer success teams can access a 360-degree view of the customer to provide the most personalized experience. And management can access valuable data on performance across the board.
According to Salesforce, 84% of customers say the experience a company provides is as important as its products and services.
There are several ways to use CRM technology to meet the expectations of today’s customers. Now let’s talk about the ways to do that.
How Latest CRM Technology Help in Your Day to Day Business Operations
CRM technology can help your business in many ways to organize your day-to-day operations. Among them, we have listed down 6 major points that you need to know to streamline your business workload.
- Target The Right Leads And Maximize Conversions
- Make Sustainable Relationships with Your Customers
- Boost Employee Productivity
- Improve Customer Retention Rate
- Collect Business Insights for Better Performance
- Protect Data Privacy
Now let’s make an in-depth analysis on each of these points.
1. Target The Right Leads And Maximize Conversions
Capturing the right leads is important. Because it helps to maximize the conversions that ultimately lead us to the revenue. However, targeting the right leads is not as easy as we think. Without maintaining a proper sales funnel, you can’t even expect any conversions from your leads.
This is the exact situation where you can embrace the latest CRM technology tools for finding solutions.
Without CRM systems, 79% of all marketing leads are not converted to sales.Salesforce
CRM software can help businesses know what leads to focus upon so that sales representatives do not waste time chasing cold leads. CRM technology enables you to keep track of all interactions with a prospect and arms your sales team with vital real-time data.
This helps them reach out to key decision-makers faster, move opportunities down the sales funnel and maximize conversions.
2. Make Sustainable Relationships with Your Customers
Finding customers for your business is not easy. And once you find them, there comes another challenge. That is establishing and maintaining strong relationships with them.
The latest CRM technology helps you centralize, optimize and streamline your communication. The better you know your customers, the stronger your relationships will be with them.
A CRM tool does not only help you to know a contact’s full name, email address, telephone number, postal address, website, and social media accounts, but also such critical business facts as a contact’s position in the company, his relations to other contacts in your database, the language they speak, and even their birthdays.
Apart from these, with the help of CRM, you can save all activities, projects, sales, live chat messages, email exchanges, invoices, orders, contracts, or customer service requests that contact has ever been involved in.
Thus a CRM tool with the latest technology system allows you to know better who your contacts are and what they want. Ultimately, it helps you to build a sustainable relationship with your customers.
3. Boost Employee Productivity
Many of us have a wrong mindset that only better remuneration can boost up employees’ productivity. Hell no! To improve employees’ productivity, you need to set a common goal for everyone, make clear communication channels between everyone, set goals with timeframe, breakdown tasks for everyone, and so on.
Investing in CRM technology ensures that your sales, marketing, and service teams do not operate in individual goals. It helps businesses form and share a comprehensive customer profile so that employees can provide exceptional service.
CRM software also ensures data synchronization between every team and improves the collaboration of each employee. That works like a tonic to improve employee productivity.
4. Improve Customer Retention Rate
Customer retention means keep nurturing your existing customers and giving them reasons like discounts, exclusive access, or special offers so that they keep coming back to your site.
The probability of selling to an existing customer is 60-70% compared to the 5-20% probability of selling to a new customer.
This highlights the importance of building a loyal tribe of retained customers. It will increase repeat sales and help in word-of-mouth publicity.
Using a CRM tool ensures visibility across all your relationships. That can help your teams proactively address at-risk accounts and present satisfied customers with new opportunities at just the right moment.
With transparency into customer histories, active campaigns, or open cases, you can provide more satisfying purchases and service experiences that keep them coming back for more.
5. Collect Business Insights for Better Performance
Data is everywhere. You can collect data from your social channels, eCommerce transactions, customers queries, product feedbacks, and so on. However, collecting raw data and without analyzing it, you can’t get any fruitful outcome.
Using a CRM tool with the latest technology, you can get the fullest benefit from this data. It has robust reporting capabilities that enable you to drill deep into key performance indicators to improve performance.
A CRM tool helps you to collect data from different sources and forms different reports to easily understand the growth. Using a CRM tool, you will get –
- Sales Reports
- Profitability Reports
- Marketing Campaign Reports
- Activity Report
- Customer Report
- Goal Progress Reports, and so on.
You should keep analyzing these reports for further improvements.
6. Protect Data Privacy
Data protection is a major challenge for any business. And if you have an eCommerce store or online marketplace, the importance of data protection is regardless to discuss. Because customers use their credit or debit cards and share their other crucial information while checking out. So, as an owner and to earn your customers credibility, it’s inevitable to protect your customers’ any sort of information.
Modern CRM tools comply with the General Data Protection Regulation Act. This means that they have in-built functionality to manage customer-related information securely. Password protection, multi-layered access control, and data encryption system are some safeguards employed by CRM technology to prevent any kind of misuse of fraudulent activities.
Choose the Latest CRM Technology Tool and Develop Your Business Faster (Our Recommendations)
So, after coming this far from this blog, what’s your thought on using a CRM tool? Is it seem legitimate to use the latest CRM technology tool for your business? If you think it’s undeniable to use the latest CRM technology software to grow your business fast, let us recommend to you which CRM tool you should use in 2023.
If you Google this term “Best CRM tools in 2023“, you’ll find a lot of recommendations from different sources. You can then choose one by filtering as per your requirements. That’s time-consuming, confusing, and sometimes misleading as well.
However, if you want to rely on us, we can recommend you a CRM tool that is equipped with all the latest technology that you might want to look for in CRM software. And that is the WP ERP CRM tool. You might be wondering why we would recommend you this tool. Let us explain then.
WP ERP CRM Features
- Task Assigning: Assign tasks to CRM agents from a user’s profile. Highlight important information with stylized text, and add time and date deadlines so the agent knows when to complete the task.
- Direct Communication: Respond to contact inquiries based on importance and urgency. Directly communicate with users through their profile and the integrated emailing system.
- Meeting Scheduling: Schedule meetings and remind participants about upcoming meetings via follow-up calls or emails.
- Enhance Customer Experience: Add comments, messages, reminders, and other information in each user’s profile to have deeper insights into their customer experience. Manage B2B users, like clients and partners, by making company profiles for them.
- Prioritize Contacts: With Contact Groups, you can categorize customers or companies by criteria like region of interest. Prioritize contacts by life stages and customize the type of service that each kind of contact receives.
- Advanced Reporting System: Run reports to view data like activity, customer information, and growth stats. Filter information to see only what you want and to get a deeper understanding of your customers.
WP ERP CRM Extensions
WP ERP CRM offers some amazing extensions as well. Let’s take a quick look at those CRM extensions.
- Awesome support
- Custom field builder
- Document manager
- Help scout
- Hubspot contacts
- Gravity forms
- And a few more.
WP ERP CRM Customer Support
Now, if you think WP ERP CRM could be your perfect choice as per your business requirements, you can check it in real-time by clicking the link below mentioned.
CRM technology is crucial for your business. It can simplify your business’ daily operations so that you can run it smoothly. So, if you have not been using any latest CRM technology software for your business, it’s high time to grab one for you.
Without ensuring a CRM tool with the latest technology, it’ll be a matter of time to get disappeared from the race with your competitors.
If you have any questions regarding this blog or any confusion to choose a CRM tool, you can just drop it in the comment box below. We’d love to reply with our utmost pleasure. You can also share this blog with your surroundings if you find it useful.
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