CRM-The Need of Every Enterprise
CRM, popularly known as Customer Relation Management is a concept as old as buying & selling itself. However, in recent times the definition of CRM has been transformed into a CRM software. The concept has evolved to a large extent, especially in the Indian context. If you look a couple of decades back, CRM software was used by only large-scale enterprises albeit with limitations like basic functionality and narrow customer database. However, in recent times the importance and awareness of CRM have grown and almost every enterprise in recent times, even small-scale enterprises, have seriously considered implementing a CRM software.
The newer technologies & work-styles like Software as a Service (SAAS) & Social Media integrations have eventually turned out to be more help practical for the enterprises. The scope of CRM has now increased from a basic customer database to a 360-degree view of customer interactions through various channels including chat, emails, telephonic, customer portals & mobile applications.
Basic Customer Database
Initially, CRM was used as a customer database and as an extension of any larger ERP implementation. These were large database applications which had essential inquiry management features. The primary purpose of these CRM systems was to give MIS reports. They were more of reporting tools and less of day to day productivity tools, as the CRM is today. The MIS reports were merely used by the marketing division to understand customer segments and target marketing efforts accordingly, which is no longer the case.
The advent of Email Automation
When email became the primary tool of business communications, people started to realize the importance of email automation in their CRM strategy. Slowly the line between marketing and sales began to disappear in case of CRM definitions. Email marketing started to gain its status as a vital part of the CRM.
Apart from the independent marketing and sales department, the inside-sales team began to grow and gain importance. Inside-sales is more relevant to B2B as compared to B2C. The primary role of the inside sales team was to generate direct leads for the sales team or do prospecting of the leads generated by marketing teams.
Attract and maintain powerful customer relationships
CRMs of the future will help us drive sales and marketing efficiencies that lead to more revenue faster. Not only will we see higher conversions, acceleration of sales velocity, but these data-driven insights will also fundamentally flip the funnel so instead of only succeeded 20% of the time, we’ll see organizations focusing 80% of the time with the optimal prospects.
This will result in not just a more powerful marketing and sales experience with the right prospects, but this means a future where we are working with the right customers, transforming customer success to be focused more on partnership building with long-term customers.
Telephony & CRM
The integration of Telephony and CRM has led to the popularity of call centers. Initially, this was accomplished by on-premise telephony servers. These are now being replaced by cloud telephony solutions. It has become crucial for businesses to use telephony solutions to engage with their customers. Hence, the integration of telephony with CRM is crucial.
The latest buzzword in the CRM space is Social CRM. Consumers and buyers are relying on social media to a great extent for their buying decisions. So, sellers are using CRM with social media capabilities to monitor and influence buying patterns of buyers. With the advent of online E-commerce, the importance of social media in CRM has increased multi-fold just over the past decade.
SAAS – The Great Leveler
Initially, CRM was affordable only to Enterprises, because of its enormous cost. This was because of costly software and expensive infrastructure required to implement CRM. But, the introduction of SAAS changed everything. SAAS models made the expensive CRM software available as a service, affordable to almost everyone. The biggest challenge in the adoption of SAAS as the mainstream solution was internet access.
Internet – The Game Changer
With the widespread usage of internet across the country and the access, quality, and variety of broadband becoming cheaper, CRM is accessible to almost everyone and everywhere in India. The mobile internet revolution in India is also contributing enormously to transforming the CRM landscape.
Mobile CRM – Enterprise to Personal
Mobile CRM has taken a huge leap thanks to cheap smartphones & affordable mobile internet plans. Mobile CRM has completely changed the way CRM is thought and used in India, as it is now one of the most used productivity tools for sales and service teams on a mobile platform.
In India and Globally, the CRM market has made considerable progress and yet has enormous potential, with the global market expected to grow to $82 bn by 2025. Considering the vastness and diversity of the Indian and overseas market, generic international applications cannot be effectively deployed. It is therefore of great significance for Enterprises to have a CRM streamlined and customized based on management principles and practices.
If you are looking to take your business to the next level with a customized, cost-effective, and productivity-enhancing CRM do visit www.deveninfotech.com or Call us at 9860934889 email: email@example.com