k_Street Consulting, LLC Blog

Getting a Better Sense of Customer Relationship Management

Getting a Better Sense of Customer Relationship Management

I’m sure I don’t need to tell you how important it is to have a handle on your clients’ needs. After all, how else are you supposed to offer them the level of service that they need to remain satisfied enough to stay subscribed to what you offer? This endeavor is exactly why a customer relationship management (or CRM) system is so crucial.

What is Customer Relationship Management?
Customer relationship management is effectively how a company can gauge and improve their interactions with their clients, gradually coaxing them toward repeated business transactions. By compiling data from the many points of contact that a prospect or repeat customer has with a business, that business can build a profile that will help inform their next steps.

With data able to be drawn from website and social media activity, live chat and telephone conversations, and a customer’s purchase history, CRM software can heavily assist you by constructing a database of customer information. Some can even automate certain processes, assisting a company’s marketing and sales forces in more effectively communicating with customers from a more informed standpoint, or allowing labor to be saved by leading an incoming caller through a precomposed voice menu to direct them to whom they need to reach.

A CRM can also be used to optimize internal tasks, like the managerial responsibilities of Human Resources, processing analytics, and automating certain workflows. Some CRM solutions have even begun to incorporate artificial intelligence to better predict a customer’s trajectory.

Customer relationship management systems can be hosted on-premise or delivered over the Internet as a cloud-based solution.

Putting a CRM to Use
A CRM can be leveraged in any number of ways for your business to embrace. Social media engagement can be monitored to identify which platform is most used by an audience, monitoring keywords and brand mentions. Otherwise, it can be used to assist in addressing feedback over social media.

Speaking of feedback, a CRM system can also be of use in a business’ contact center, collecting data from service calls to inform a company’s sales and marketing efforts, as we mentioned above. This is especially useful in a business-to-business application, as it can help to optimize a business’ journey through the sales and marketing funnel.

If a CRM system sounds like something that your company should implement, reach out to k_Street Consulting, LLC by calling (202) 640-2737.

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