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What is customer retention?

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Every company wants to grow, and an important aspect of business growth is customer retention. Just a 5% boost in customer retention can increase a company’s profits by 25% to 95%. With such high returns of investment, it is no wonder that companies are investing in the best customer retention tools and strategies they can find.

Customer retention, by definition, refers to how much power a company has over retaining its customers, i.e. making the customers come back to do business with it. A company with a high customer retention rate continues to grow and get bigger as they take in more customers. Read more

What Does Omnichannel Mean?

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With 90% of retail customers expecting to communicate with businesses consistently across channels, using a cross channel approach can help your business reach a level of convenience that customers not only crave but expect. And the technology that enables this cross-platform integration is omnichannel.

Omnichannel is a retail marketing strategy that integrates several different traditional and modern channels, including online platforms and websites, social media, mobile devices, and in-store channels. This approach can help provide a seamless customer experience by focusing on their overall journey at once, instead of focusing on each channel separately. It links all of your customer’s different commerce and retail channels so that you can provide a better experience for your customer and strengthen your client relationships. Read more

What are price books?

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With globalization reigning over the business world, companies have started expanding their reach internationally. But this market diversification has led to many production and distribution challenges. The cost of selling is not the same across the globe, nor is it the same for different sectors. To tackle these challenges, price books are used.

Price books is a system that allows companies to sell different products to various types of customers. This means that you will have different prices for different continents, countries and sectors. The system is extremely relevant and is used by many leading MNCs. 26% of total businesses consider the competition or the market when setting their prices. Read more

How Do You Manage Tasks?

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Building and managing a business empire is extremely challenging. Lack of direction and ineffective allocation of tasks can threaten an enterprise’s status. 75% of the companies fail within the first 18 months of establishment. All it takes is one oversight, one clerical error, or one operational mistake to jeopardise a project. This is why, in the time-specific corporate world, task management is a crucial practice.

Task-management is a process used by managers to start, execute and complete a task through its lifecycle successfully. It helps teams identify the tasks that need to be done, set deadlines for their completion, and assign them to the various departments and team members. Tasks concerning sales, resource-allocation and operations require extreme scrutiny, detailed descriptions and in most cases, an automated workflow to support managers. Read more

Meaning of CRM

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In today’s competitive market, it is vital to provide your customers with an excellent and unparalleled user experience. Maintaining good customer relationships requires both man and technological power as recording, managing and utilising customer information effectively can be cumbersome if done manually. This is where CRM software come into play. The digital age calls for automation of office-processes and tracking and CRM software providers enable that in the customer-service sector.

CRM (Customer Relationship Management) is a type of software that allows for client data to be recorded and displayed methodically. It allows this valuable and critical information to be available across your organization. CRM software, a popular management tool is said to have an average ROI of $8.71 for every dollar invested. Read more

What is Sales Methodology?

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Undoubtedly, sales is the fuel that keeps a business going, no matter how small or big it is. Every organization strives for a positive sales graph. The fact that businesses are spending over one trillion dollars annually on their sales forces, including sales support software, underlines its importance.

Therefore, it is a no-brainer that there is a need for impeccable sales plans to successfully stride ahead in this technology-driven corporate world. A digital solution like Crust’s open-source Salesforce Alternative can be a catalyst in attaining your business goals efficiently. It makes your sales methodology digitally sound and streamlines the sales process in an optimized manner.

But for that, you need to be clear about the basics of sales methodology and how it can help your organization. Ready to delve into it? Let’s go! Read more

What are outbound sales?

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Contrary to popular belief, outbound sales have still not turned obsolete. 75% of executives say that they are willing to make an appointment or attend an event based on a cold call or email alone. Not every prospective customer realizes the need for a product until they find out that it exists.

Outbound sales are meant to create and meet demands. With an efficient database of prospects and smart automated workflows targeted to future customers, an open-source CRM solution can help you generate more outbound leads and eventually convert them into sales opportunities. A process in which a seller initiates customer engagement from its end, outbound sales are most popularly carried out via cold calls, meets, and email marketing. Read more

What are inbound sales?

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For a business to survive successfully, sales are an indispensable part of the growth process. The sole motive of any business is selling its products and services. Every single operation preceding that including research, finance,and marketing is just an effort towards higher lead conversions. Sales are majorly of two types namely inbound and outbound. And while most marketers stay divided on which one is better, both types of sales have unique benefits of their own.

Inbound sales are deals that take place when an interested consumer approaches your business with an inquiry about your product or service. In a world where 57% of the selling process is covered before a customer ever interacts with a company, inbound selling techniques are a magic potion for salespeople. Read more

What does BPMN mean?

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Business process management is a vital component of all business operation procedures. It’s crucial to companies for automation, modulation, and optimization of workflows and business activities. According to Forbes magazine, companies lose around 20% to 30% of their revenue due to ineffective processes. A standardised modelling solution is hence needed to save businesses from crashing. This is where BPMN comes in.

Business Process Model and Notation (BPMN) is a standardised flow chart representation method that visually depicts the sequence of a planned process. It is a powerful tool that aids business process management and makes interdisciplinary coordination easier. It communicates everything from messaging-flow between participants to varied tasks for the members involved. BPMN is the base for business process diagrams (BPD). Read more

How and why a low-code CRM will help you close more deals

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A customer relationship management solution isn’t just a service tool; it is also a sales instrument. Managers across the globe have realised that an open-source low-code CRM is a useful ally to their sales teams. It not only improves customer-provider relationships but also enhances the company’s lifetime value. A study published by Tech News World revealed that 54% of all businesses are expected to improve their sales with CRM.

CRM software assists company employees to keep track of clients’ contact details, business interactions and other activities. The Corteza open-source low-code platform, developed and maintained by Planet Crust, is a powerful Salesforce alternative, that helps operatives interact with leads and team members more efficiently now than ever before. The low-code base allows fast communication by enabling customization and flexibility. Read more