CRM AND ITS BENEFITS FOR NIGERIAN BUSINESSES

Business thrives on customers. This statement implies that every business you see on earth makes progress on the efforts of two sets of people; Business owners and customers.

None of these sets are insignificant. The first set of people are in business because of the second set. The second survives and thrives on the value of the first set.

This depicts that both parties must  be involved in order for any business to succeed.

The first set of people controls and manages the operations of the business. The second set of people patronize the business.

The first set of people serve solutions to the other set of people in the form of products or services. The second set of people gets their problems solved by the solutions the other people serve.

If you pay attention to the line of thought above, you’ll realize the crux of business is people. Your efficiency in establishing a relationship with these people determines your failure or success in business. 

Note: As your business grows, your customers follow suit. In reality, customers decide the growth of your business.

A business without customers is likened to a forest without trees.  

Seeing this reality, business owners who desire to maintain and increase the growth of their business should learn how to infuse CRM in their business processes.

In this article, we’d be looking at what a CRM is and how it can benefit you as a business owner.

WHAT IS A CRM?

You probably might have heard of the term CRM. It means Customer Relationship Management. This term entails a system that is used by businesses to acquire and retain customers for the sole aim of profitability.

CRM is an AI-induced software that helps businesses to collect and manage the data of customers. This data helps the business owner or the organization to establish a relationship with her customers

 

A relationship in this context isn’t referring to an interpersonal relationship, but a healthy working relationship that’s achieved through effective communication.

It’s widely accepted that where there is no communication there’s no relationship. 

It will surprise you to know that CRM has a feature that automates communication amid customers thereby improving customer experience.

 

CRM is also a modern business approach that seeks to help the business owner understand and manage the requirements of potential and existing customers. 

 

Please stay with me.

In the sustainability, profitability, and visibility of a business, CRM has a role to play, and it achieves this with the aid of people, processes, and technology.

The CRM helps in tracking and managing leads, nurturing them into customers, and transforming these customers into brand evangelists.  

Lastly, CRM software focuses on assisting businesses in establishing a customer-centric culture across their enterprises, with an emphasis on strategy, operations, analytics, and collaboration.

Did you notice the word customer-centric, that’s the whole essence of CRM. 

 

I trust you’re getting value already. 

 

Let’s get down to the components of a CRM software.

To every working machine or system, there are features and components that make for its relevance.

 

CRM also has the components that makes it relevant in the marketplace today.

 

Below are the components of a CRM

AUTOMATION

 

Due to the tedious procedures required for getting massive results in business today, business owners seek solutions that can help them get more work done in less time.

 

This solution was provided when automation came to the scene. Part of what CRM does is that it automates the procedures it takes for business owners to reach out to customers. 

 

CRM automation also cuts down on unnecessary waste of time, thereby improving the efficiency of the operations.

 

Take, for instance, a business that seeks to send out emails to about 1000 existing and potential customers. 

 

Just imagine the stress that it will take a sales department to send mails to 1000 persons. But with a CRM software, these emails can be sent to 1000 people in one click, and they can also be scheduled.

 

ANALYTICS

 

Data is the new normal. Business owners who understand the function of data for the growth of their business use CRM analytics to evaluate data and draw insights before making decisions.

 

Business owners also use CRM to analyze the data of customers for a proper understanding of each customer. 

 

This understanding informs their strategy on how they can sell to them.

 

REPORTING

 

The good thing about CRM software is, each component is tailored and made to improve sales.

 

CRM reporting is a means through which business owners get reports on the performance of their businesses.

 

These reports help businesses to have a clue on what is happening in their operations. It is also used to track the progress of their activities. 

 

CUSTOMER SERVICE.

 

This CRM feature is a unique one, and it is one of the most important features.

 

Customer service is an essential commodity in business. A business that’s unable to give its customer a wonderful experience won’t make headway. 

 

CRM customer service helps the business owner to ascertain the needs of the customer, the buying power of the customer, and how to better serve the customer.

 

LEADS MANAGEMENT.

 

Tracking leads in business is one thing, but it’s another thing for businesses to manage those leads. 

 

The lead management feature on a CRM helps the business owner to not just keep track of leads but also to carefully distribute these leads to the appropriate systems.

 

This feature also examines customer’s purchasing habits to discover prospective sales leads.

 

MARKETING

 

Marketing is a key role in every business. A business that fails to engage in any form of marketing is bound to fail.

 

CRM marketing tools aid the business owner in improving the efficiency of marketing.

 

Almost all CRM software has a feature for email marketing. According to statistics this form of marketing has made most businesses more money than any form of marketing. 

 

Are you still in doubt that a CRM can help your business grow? 

 

If you are, I think the benefits will convince you.

• Better Organization

 

CRM helps businesses to be better organized. By ensuring ease in communication, employees know what to do per time, and how It is to be done. 

 

With the aid of a CRM solution, information becomes more structured, managed, and accessible in most departments.

• Enhanced Communication.

 

As we have seen in this article, communication in business can’t be overemphasized

 

CRM helps to improve communication between an enterprise and its customers.

 

It also helps in improving communication among members of staff. 

 

For instance, at Kedrus Consulting, we use efficient CRM software like Microsoft Dynamics 365. This software helps us communicate better in and out of the office environment.

 

A CRM software also helps businesses to collaborate. This collaboration can be with partners or among colleagues.   

• Automation

 

Now more than ever, automation has come to stay, and it is helping businesses across the globe.

 

CRM helps in the automation of procedures. This automation also reduces duplication and improves productivity.

• Improved Customer Service

 

CRM creates a platform for easy access to customers’ data. It’s a reliable source for companies to safeguard their valuable information, and also the information of customers.

 

These factors contribute to improved customer service and engagement, as well as increased customer satisfaction.

•  Analytics

 

In the world we live in, business owners must take advantage of data. You know why, because that’s where the world is right now, and that’s where the world is going to.

 

CRM helps in the analytics and display of data. It does it in a manner that can be used in creating reports for the performance of the business.

 

SUMMARY

Businesses across the globe thrive on people, processes, and technology.

 

Technology in this context might not be digital technology. It might be the modalities and tools which businesses use in getting work done, and meeting customers’ needs.  

 

The above lines of thought exposed the place of a CRM technology in improving the productivity of a business for sustainability and profitability.

 

The need for CRM is in high demand. Businesses that leverage this digital technology are enjoying the dividends. 

 

The components of CRM are essential to any decision-maker or entrepreneur who wants to experience growth in his business. 

 

The benefits of this system shouldn’t be ignored, they help clear the objections you may have about  infusing CRM into your work process.

 

Do you desire to employ CRM in your business modality? Kedrus consulting is here to guide you to bring your desire to fruition. 

 

Reach out to us today via Info@kedrusconsulting.com and let’s help you get started.