CRM’s Internal and External Impacts on Your Business
When people talk about CRM (Customer Relationship Management), it is often associated with what the platform or the software can do for a company’s customers. For example, CRM is mostly marketed based on the idea that the happier your customers are with your products or services, the more likely they will come back for a second purchase. As a result, your business booms and gets more affluent. Another example would be the interaction between the customer and the company’s employees when there is a post-purchase problem or any sort of inquiry. The belief is that if these interactions go as smoothly as possible, your clients will have a better experience and are willing to promote your company to others.
However, CRM is much more than that. A Customer Relationship Management system is also supposed to make the job of your staff more comfortable. Things that are done manually at many offices these days can be made automated instantly with the help of a CRM platform. For instance, inserting customers’ contact information into a computer and storing them somewhere safe is something that can be taken care of by CRM in the blink of an eye, and that can save your employees a lot of unnecessary labor and time.
These are the major parts that a CRM system helps your business with, and in this article, we have divided them into two main categories: the Internal Impacts and the External Impacts. These two are integrated and go hand in hand to provide your audience with a smooth experience. There are, of course, examples of companies or businesses that use one area more than the other on their CRM systems, but generally speaking, these two parts are inseparable. In this article, we are going to break down these two areas and see what they include.
Top-requested CRM Features
Before we get into breaking down the two major parts of all CRM systems, let’s have a look at which features form CRM systems different companies and managers have rated and believed to be the most useful for their business. It will help us understand the internal and external impacts of CRMs and see them more clearly in detail.
The top-rated CRM features respectively are:
- Contact management
- Tracking interactions
- Email marketing
- Pipeline/funnel monitoring
- Integration with other websites/platforms
- Industry specialization
- Centralized database
- Sales automation
- Mobile access
- Help desk
- Customer service
- Track team performance
As you can see, managing customers’ contacts and tracking the interactions, which fall under External impacts, as we discussed earlier are on top of the list. It means that business owners have found these features to have the most impact on their growth and success. On the other hand, tracking your team’s performance or the analytic features of a CRM is lower in the list; and these are part of the Internal Impacts.
Even though the feature in the list does not determine whether it is more or less useful than the other areas for your business, you can see that the most popular ones are from the external impact area. Now, let’s see what these 2 major areas we have been talking about are and what they can do for your business.
As the name suggests, External impacts are related to things outside your company, but this does not mean that they are irrelevant to your business. In fact, these are influences that affect anything related to your company except the employees or anything inside your company building, physically. With the help of a good CRM system, you can put a pretty significant impression on your potential or existing customers, which is part of the external impact. Some noteworthy examples of things that can be achieved externally are as follows:
1. Better Customer Retention
CRM is an invaluable tool in keeping your existing customers happy. It can be handy when it comes to reminding you or your employees of issues that might be important to your customer as well as you, for example, their birthdays, appointments, or when to follow up on emails.
2. Faster Communication
From the point of a customer, being stood up is the worst experience they could possibly have in interacting with a business. Lives are hectic these days, and people are always in a hurry. They want everything done and solved as quickly as possible.
A CRM system allows your team to solve your customers’ problems as quickly as possible. With a CRM platform, you have all the necessary information for answering the clients’ questions. This includes their personal information, their purchase history, and who they have talked to in the company on their previous communications.
Apart from your customers and their level of satisfaction, a CRM system can also be very beneficial for the work done inside your business. Let’s look at some areas in that CRM can improve the performance of your company internally.
1. Less Mundane Work
If you have ever worked at an office, you totally get what this is about. Putting information on a spreadsheet, saving and sending them to your colleagues, asking other employees for updates, and scheduling meeting with emails is time-consuming, tiring, and tedious.
A CRM system automates all that work for your staff and instead, they can use that time actually to strategize better sales plans to help the company.
2. Better Knowledge of the Customers
A CRM system, with all the data it has gathered on your customers, enables your staff members to deal with them more efficiently. Sales representatives are much more likely to successfully close sales if they personalize their strategies for each customer based on their needs and interests.
In addition to all we said, customer service team members can respond to customers’ problems per inquiry if they have some necessary information about the person they are interacting with. All they have to do is search the customers’ names or contact information as soon as they are contacted, and all they need to know is available to them on the screen. It’s just a click away.