Case Study : Insurance
September 10, 2017
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4 Reasons Why is the CRM System Your Most Valuable Asset!

What is your most valuable asset?

Keep a Good Overview of Your Customers The business value of a CRM system

A topic I like to discuss with managers I meet, is the thing that they think is the most profitable asset in their business. I find all sort of solutions, contingent upon their industry, and what express their business is in. Lodging proprietors and shop proprietors regularly say “location, location, location”. Administrators in the IT business tend to concentrate on the new, hot items or their organizations.
The one thing these answers have in like manner is this: These are pointed towards getting more clients. Clients are essential to organizations – they pay bills and pay rates. So why is it, that clients regularly say they feel disregarded by their providers?
Chiefs from the consulting business say that their employee’s brains are the most significant. Others stress trademarks and brands. An awesome administration group, committed staff and deals begins is additionally on the rundown.
Clients quit being clients for some reasons. They move to another area, they leave business, or they go to a contending organization. These reasons mean 34% of client loss. The remaining 66 % leave for another reason – they simply feel disregarded while associating with a few organizations.
Fortunately, we can take care of this.
  • Keep a Good Overview of Your Customers
  • Many companies use spreadsheets for storing their customer data, and I keep asking myself why?
  • Spreadsheets get lost, they become outdated, and they might fall into the wrong hands. Business cards are important for collecting customer data. But not when lying on your desk. These customer strategies miss something important – collaboration.
  • A customer database increases in value when everyone works together on populating it with data.


I recently heard a great story from one of my customers, Sales Director Eiliv M. Liljevik at Making Waves. As a co-founder, he is passionate about growing their business. Making Waves started out with 14 employees, and now have more than 300 employees. This is a great development, and without a proper CRM solution it would have been difficult.

Since they started in 2001, he has demanded that all employees register every customer along the way. One of his key points is that any customer or contact should be registered in their central CRM database, with the email as the top field to remember, being the key to their customer and lead nurturing strategies.

The one thing these answers have in like manner is this: These are pointed towards getting more clients. Clients are essential to organizations – they pay bills and pay rates. So why is it, that clients regularly say they feel disregarded by their providers?
Clients quit being clients for some reasons. They move to another area, they leave business, or they go to a contending organization. These reasons mean 34% of client loss. The remaining 66 % leave for another reason – they simply feel disregarded while associating with a few organizations. Fortunately, we can take care of this.

Keep a Good Overview of Your Customers Many companies use spreadsheets for storing their customer data, and I keep asking myself why?
Spreadsheets get lost, they become outdated, and they might fall into the wrong hands. Business cards are important for collecting customer data. But not when lying on your desk. These customer strategies miss something important – collaboration.
A customer database increases in value when everyone works together on populating it with data.

I recently heard a great story from one of my customers, Sales Director Eiliv M. Liljevik at Making Waves. As a co-founder, he is passionate about growing their business. Making Waves started out with 14 employees, and now have more than 300 employees. This is a great development, and without a proper CRM solution it would have been difficult.
Since they started in 2001, he has demanded that all employees register every customer along the way. One of his key points is that any customer or contact should be registered in their central CRM database, with the email as the top field to remember, being the key to their customer and lead nurturing strategies.
The value of a CRM system
Here are 4 reasons why a CRM system can be your greatest asset.

1. It allows you to register your leads and contacts

You never know when a lead is ready to buy from you. Probably not today anyway. Keep them warm.
It is never too late to start organizing your customers and contacts. You need some basic categories to make your data efficient so that you can implement your CRM strategy to fulfill their needs.
You need categories like Customers, Lost Customers, Prospects, Suppliers, Partners, Potential Partners, Influencers and Inactive Customers.
You could also consider dividing customers into A-, B- and C-customers depending on different customer retention programs for each segment. So you might get rid of your complex spreadsheets once and for all.
2. You can track all customer interactions – from everyone in your company.
Next time you talk to a customer or prospect, you get the upper hand when you know what that company is talking about. You can get the person to feel seen and important. And this history builds a long-term relationship. Emails should be in your system, and not in each person’s mailbox.

3. It reveals possibilities.
How many prospects have you “not sold to” yet?
Most likely a lot. I usually tell my sales team that a “no” most likely means “not today”. Most companies keep their current supplier until they are ignored. That’s why keeping them alive and kicking in your CRM database is so important. And if you have an effective email marketing strategy or a great seminar plan, their business might be yours for the next quarter.

4. It makes your most valuable asset – the customer data – remain.
People change jobs. Have you ever experienced someone leaving you, and nothing is left behind?
The sales pipeline wasn’t up to date. The contacts wasn’t updated. The important contacts wasn’t registered – because all relevant information was stored locally. Don’t let it happen to you.

Conclusion
Without a CRM system, it’s difficult to focus on the customer.
But, companies that invest in CRM are using its value to put the customer at the heart of their business, which is the fastest way to increase sales and profits. Hopefully, these 4 reasons above help you realize that CRM is no longer optional, but a must-have for your business.

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