The purpose of doing business is to create wealth for every stakeholder and wealth creation is in turn related to profitable sales. To increase sales you need customers who remain loyal to your products. Whether you run a small grocery store around the block or a mega business around the world, you will depend on customers. 

Importance of CRM

Your business can never remain stagnant – you need to keep it growing constantly to prevent a predator from overtaking your business by poaching your customers. The key to retaining your existing customers and acquiring new customers is building a solid relationship in which they feel comfortable and important. This means remaining in touch with them at every opportunity – technically we call it CRM (Customer Relationship Management). 

If you own a business with a large number of customers, remaining in touch with a majority can be really a herculean task, but don’t despair; technology makes it possible to meet customer expectations in the modern business world. All that you need to do from your side is the will to embrace CRM as an important aspect of your business strategy for growth. CRM is not all about software; it is about training the individual in winning customers and ensuring that they are retained for a lifetime. 

CRM is inevitable for growing business

There is no short circuiting in CRM – you will definitely have to make investments in training your employees both in terms of tools and technology, and interpersonal management skills. Don’t forget that your employees are as valuable as your customers and they need quality training from time to time.

Customised CRM: Benefits & results

No single training technique can work across every CRM needs of every company. To be effective, CRMs should be customised based on employee needs and company goals. We focus on the individual because they are the ones you will be putting in the frontline to face customers. Training is required in both technology intensive and trainee focused environments. 

Broadly CRM training programmes will include:

1. Strategies for customer retention – Market situations, customer profiling, defining products and services that customers want, reaching customers through proper channels and making best use of referrals.
   
   
2. Training on software and tools – Hands on training on software, choosing the right tool and software, and field visits.
   
   
3. Measuring, evaluation and reviewing success – Measuring success rate, evaluating software and reviewing different CRM software.

Benefits of CRM include:

Trainees will be able to:

1. Take the most appropriate decision within a time frame and be able to report their decision to the management on software.
   
   
2. Understand the importance of managing time effectively as it relates to engaging customers.
   
   
3. Generate leads that fructify into business. They will be able to identify potential customers against a casual enquiry. 
   
   
4. Give the right feedback to the management which can be helpful in formulating new products and services.
   
   
5. Spot potential areas and target audience where the business should concentrate and follow leads. 
   
   
6. Identify core areas where it is possible to cement relationship with customers. 
   
   
7. Use software to avoid repetitive manual tasks that consume time and resources. 
   
   
8. Give customers an unforgettable experience that will make them come for more. 
   
   
9. Communicate with customers in a language they understand and value. 
   
   
10. Communicate with the back office for more effective management of the whole business. 
    
    
11. Follow a uniform culture of reporting standards to avoid confusion and bottlenecks in reporting. 
    
    
12. Reduce the total cost of running the business in terms of expenses. 
    

      

CRM is an inevitable part of doing business in an emerging economy like India. CRM is important in B2C and B2B as well. CRM can spiral growth based on a satisfied customer base. 

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