When you hear the word CRM, what comes to your mind? Do you see a software that helps you keep customer data or do you see an application that provides actionable insights? If you think of it only as a customer information repository, then you may not be taking much advantage of the capabilities of a CRM system. If you think of it as a way to grow your business, then you are on the right track.

But a CRM application is not just for your sales team only. It can also work for your marketing and customer service units. When you align your customer relationship management (CRM) strategy with other departments’ workflows, you can uncover more information about your customers, thus giving you a holistic view of them. Then you can have a better understanding of them, which can help you gain their trust and continuing business.

That is not all. A CRM solution has other benefits for your business such as the ones we discuss below .

1. It can help you understand your customers

The main purpose of CRM is right there in the name: to build stronger relationships with customers. This is preferable to finding new leads and prospects because they cost 5 times more than to maintain your business relationships with your current clients, according to an infographic by Invesp.

Finding new customers is more costly than keeping existing ones.

When used correctly, a CRM can boost your business with existing customers because it helps you see who is making purchases, who is engaged with your marketing activities, and who you need to watch to make sure they stay with your company.

The insights you gain from a CRM software can also help you personalize your interactions with your buyers one-on-one. It can be something as basic as using their names on emails or it can be something as complex as curating content that is tailored to their needs and interests.

2. It empowers you to appreciate your clients

When you store all of your customer data on your CRM system, you can see with a glance who among your patrons provide you with the most revenue. You can use this information for creating targeted marketing campaigns that can entice this percentage of customers to spend more.

You can do that by reaching out to them individually via a personalized email. This is when you can tell them how much you appreciate their business and give them offers and discounts exclusive only for them. You can also generate special coupons or codes for their use and enter those in your CRM platform to make sure that they are honored upon checkout.

3. It can aid you in making good use of your data

Big data is big. It is not just in size but in impact as well. Since your CRM process requires that you collect information from customers at every turn, it becomes a data mine that you can exploit. You can get insights from this dataset through reports and dashboards. The latter offers you a comprehensive summary while the former can provide you with in-depth information.

Additionally, you can utilize your CRM data to determine the performance of your sales team. Once you have the numbers, you can determine who the top performers are, who are lagging behind, and the areas where you need to work on.

That is not all there is to data, though. Modern CRM solutions are now capable of connecting with third-party software. You can take advantage of this by integrating it with a BI/analytics solution so that you can uncover more insights that can help drive business growth.

4. It automates tasks and boosts efficiency

If you started doing business without advanced software, it can be challenging to make teams use CRM. However, once you show them what such a system can do and ease them into adopting it, then they may embrace it fully in no time.

But what exactly can a CRM software do to make your workforce accept it?

For one, it can automate redundant tasks like data entry. Nobody likes inputting the same information over again into a system. With a CRM armed with automation capabilities, your employees can save time and energy because it enters the necessary information into relevant fields.

Moreover, this application relieves your employees of the task of having to follow-up with customers, leads, and prospects. That is because your CRM solution can trigger follow-up emails when it meets certain conditions (that you can set when you configure it the first time).

5. It lets you take your business wherever there is internet

The beauty of cloud-based applications is the way they offer mobility. This can only mean that you can work on the go, from home, or even in a cafe or another setting. Because of this, you can answer the queries of your staff and step in to resolve issues anytime.

What’s more, your being able to access your CRM technology from anywhere helps you stay in control and make sure that business is running smoothly even when you are not present in the office.

Putting customers first

A customer-first approach can help you put your business operations perspective. That is something a CRM can assist you with because of its rich data regarding your leads and purchasers. With the insights you uncover, you can enhance your engagement and marketing strategies to make them more attractive to your entire audience or to specific segments. Therefore, you can inspire loyalty and retain your best customers.