Here Is Why CRM Is A Valuable Asset
Updated: Feb 24
What are you doing to grow your business?
How are you optimizing processes in your business to increase productivity and efficiency?
In operating a business, whatever you do, you want to attract more customers. Unfortunately, over time, businesses have lost customers because of several factors. Some leave on their own, while others leave for reasons associated with the business. These may include being ignored by the business and little or no attention given to them, finding competitors with better customer service or lower prices, change of location.
You can not do anything for some, but you have to eliminate the problems within your setup. Then, optimize your processes to ensure top-notch service for your clients and customers.
Fortune500 companies stay at the top because they handle their customer data well and keep their customers engaged. It is a hardship to handle this data traditionally. These companies employ the automated systems of CRM.
CRM software is a cloud or on-premise-based solution that helps businesses to manage various customer-related activities.
According to research, 59% of the customers switch from business to business in search of better customer service. In comparison, 62% of customers leave due to low satisfaction and also, happy customers make more purchases than new or unsatisfied customers. This shows that for a business to survive, customer satisfaction is paramount. This will keep them coming and make more referrals. Therefore, you need to have a business or company or a customer-centric organization.
Most companies are embracing the use the CRM software because;
It helps to manage leads better
There is efficiency and increased productivity
It’s secure and more reliable
Tracks data in a better way
Allows team mobility
Top 8 reasons why CRM is your most valuable asset
1. Improves customer care services
Good customer service attracts continued support from clients. Research shows that about 50% of the customers prefer good support and are even likely to pay more and more for good customer care support.
Good CRM helps a brand build relationships with its customers, and customers find it enticing to engage them before purchase and after a sell. Continued engagement and support pull the customers' attention and keep them around, which creates more trust with the brand.
2. Allows registration of leads and contacts
A customer is an important asset to your business, and no entrepreneur wishes to lose any customer. However, leads/prospects are also customers and what draws lines in between is that they are not yet qualified customers and have not made any steps towards supporting a business. How you handle a lead or a prospect determines whether this person is likely to become a customer or turn away. If a lead is ignored, it will turn away. However, if they are given attention through nurturing, registration of contacts and follow-up, one can actually be convinced to become a customer.
3. Better manages customers’ contacts
To effectively satisfy your customers, you need to know them better. You can’t know them if you are not in contact with them or are not sure of what might be valuable to them. CRM does all this for you. It collects and stores insightful information about your clients that is key for your business and also understanding your customers like;
Personal and contact details plus location
Products of preference and interest
Reasons they chose to support your business and their source as leads
Customer’s buying trends
Commonly used methods of communication and payments; such information helps you to clearly know who your customers are and how you can best serve them.
Related: Top CRMs To Use In Africa
Additionally, the CRM helps to provide customized services for each individual by identifying customers and identifying categories for them like prospective clients, current customers, lost and dead leads, suppliers, potential partners, influencers and inactive customers so that appropriate sales reps can offer customer-centric solutions.
4. Centralizes customer data
CRM allows you to centralize and store your customer data in one single central place. CRM captures all the data from the time a customer interacts with the website or the company to when a purchase is made. Centralizing customer data ensures; efficiency in all departments, provides accurate data and reduces the risk of doing work manually, which causes errors during data entry and promotes customer support.
5. Boosts customer retention
CRM helps boost customer retention due to continued follow-ups with customers and instantly replies to customers’ problems and queries. This shows commitment and trust in the brand, hence growing customer satisfaction, which promotes customer retention due to continued support and repeated purchases resulting from satisfaction.
6. Tracks customer interactions
CRM tracks and records all customer interactions. From phone calls to messages, emails, this makes it easy for anyone to follow up with a customer depending on where the last interaction stopped.
7. Boosts employee productivity
CRM reduces work overload. This guarantees employees more time to engage with customers. The moment customers get attention, relationships with the business strengthen and enhance, contributing to customer retention and continuing purchasing, which boosts profitability and revenue.
8. Reduces the cost of sales
Selling to an existing customer is easy and cheap in terms of time, resources, and possibility compared to selling to a new prospect, where the chances of winning and making a sale are limited to 5%-20%.
Much as it is important to have new entries into the business, new customers/ prospects are expensive. CRM increases the chances of repeat purchases which are not common with the manual way of doing things.
The world of marketing is in a crazy revolution. Every passing day, there is new software on the market. The software makes the work easier with automation.
MonkeyPesa CRM is in the bracket of an all-in-one business automation tool. From sales marketing, automation or customer support.
With the devotion to help Small and Medium Enterprises (SMEs), MonkeyPesa is a user-friendly tool. The pricing, features, analytics, easy-to-interpret dashboard make it ideal for you.
Check Out MonkeyPesa’s Sales And Marketing Hub
MonkeyPesa’s primary features are:
With the advancement of technology, making a sale is supposed to be easy. Marketers find themselves scheduling calls on one platform. Then, they go forth to respond to social media requests and queries on various sites. To add insult to injury, you will have to exit all these to use another tool to align your calendar with your activities. This is where MonkeyPesa becomes the CRM solution for Africa.
Owing to that hustle, MonkeyPesa has developed a tool that centralizes all these aspects into one tool to accomplish all these tasks.
It is a catch for small and medium enterprises, from social networking tools, project management to CRM, document management, calendars, team management, email marketing, phone management, flawless lead management and customer support tickets. You get it all.
MonkeyPesa CRM tool is an interactive platform.
Accessible Communication is a giant step into maintaining good relationships with clients. Strong relationships generate more sales and support, improve client satisfaction, and can even reduce business expenses.
Nurturing leads in the sales funnel
A closed buyer is just as vital as a new lead. MonkeyPesa CRM allows you to create leads based on a prospect’s information, schedule calls for them at any point in time, take notes based on our interactions, and easily save and organize that data for future use. In a nutshell, you are moving a sales lead, or prospect from one stage of your sales funnel to the next.
The MonkeyPesa CRM allows you to add contacts manually or via a file upload.
Activity logs to correspond with your leads or prospects are aligned into a calendar to help you keep an organized and easy-to-follow process. This calendar can be synced with your Google, Microsoft and Apple accounts.
Because the goal is to have streamlined communication in the sales process, you do not have to open another platform to make calls with your clients and prospects. The dashboard enables calls. In addition, all these interactions are captured in case you need to make clarifications and references.
To create a new video meeting, log into your dashboard, and tap on the caller icon. A link will be generated, and you can share this link or meeting code with anyone you want to join the meeting.
For webinars, your clients and attendees will be required to provide details before the link is sent to them. These details will be captured as contacts in your CRM.
Social Media is a gold mine.
Social Media is a very relevant tool of sales and marketing today. Every passing day, there is a new social media channel your clients and prospects sign up for. MonkeyPesa provides a centralized location for all your social media interactions — tweets, posts, reels, videos, comments, replies, Direct Messages.
Automation — Preview your scheduled posts, drag and drop to reschedule, and manage your content from one interface.
Trends — Be able to monitor trends and conversations your clientele is most interested in.
Analytics — Numbers in business are essential. Analytics helps you understand the performance of different posts and what made them stand out. This data can be used to make informed decisions in the future.
Convert social media updates into tickets and respond to messages as quickly as possible.
Generate leads from social media and identify which social channels bring in maximum revenue.
Populate your CRM contacts with social data. This will guide the sales teams in closing.