Customer Relationship Management is process that a company follows for proper execution of practices,
strategies and technologies to manage customer interaction. The data is then analysed in order to
improve business relationships. CRM systems compile information of customers which are used to
derive sales targets.
The concept of CRM first began when marketers started recording their sales with the help of pen and
paper. It was the era of 1990’s when first CRM software was introduced. CRM nowadays has become
an essential marketing tool for any business. It has transformed almost every business communication
techniques. It is said to be the smartest technique for staying ahead of the curve when it comes to
unique source data. Here are 5 CRM hacks,which is why CRM is necessary marketing tool.
1. CRM helps in Customer Retention:
According to VStacks Infotech, CRM can improve customer retention by 27%. Marketers has not
realised the real importance of CRM. They still do not know what wonders CRM can do for them. By
keeping their customer data online, marketers can first retain their customers by maintaining personal
relationships with them. CRM can also help in maintaining relevant data on past purchases and
behavior of customer.
2. CRM can maintain Cloud based data:
According to Microsoft almost 50% of all the CRM software will become cloud based by the end of
2016. It has also been estimated that the number is further expected to rise to 62% by 2018. Thus,
CRM is quickly becoming cloud based in the next year. Cloud based CRM softwares are easy to access
from anywhere as well as can be easily integrated with other software and technology solutions. This
quality of cloud based CRM software is essential for marketers as it gives them opportunity to leverage
their CRM data in more strategic ways to target customers.
3. Advent of Beacons has created opportunities for CRM’s:
The biggest challenge for marketers nowadays is to create seamless experience for their customers
who are quickly changing devices and are moving from digital to in-store environment frequently
throughout shopping journeys. Here comes the role of beacons, which helps in communication,
collects data and sends push notifications to customers. They are a good source of information for
brands as they can easily capture customer signals both in-store and online. According to some
researches, Beacons were expected to generate $138 million in 2015 in retail sales. CRM systems
provide opportunity to Marketers to integrate this data with CRM software for improved customer
4. CRM Predictive Analytics:
Advance CRM technology solutions are now equipped with predictive analysis qualities that helps the
marketers to target real customers.This prediction is made on the basis of their past purchases and
behaviors. Marketers can easily switch to these technology solutions which allow them to act on their
customer data and predictive insights across channels through different mediums.
5. CRM a social savvy Tool:
CRM software are now social friendly and it is an additional advantage for Marketers. They can now
track customer interactions across various social media platforms. We are already aware of People
based marketing techniques followed on Facebook. Integrated CRM software can make this strategy
even better. This technique can prove to be a great help to study customer behavior for marketers.
CRM software has come a long way. CRM is no more limited to managing client relationships, it has
now evolved into technology that enables Sales Automation, more effective customer engagement
and people based marketing.