CRM can reduce the costs of your company: here’s how

CRM

CRM, or customer relationship management, refers to managing the relationship your business has with its customers. It is a system that not only helps to maintain relationships with customers, but also helps to cut costs, both fixed and variable.

Getting the best results with the least effort is the goal of every company and CRM is the ideal tool to achieve it, as it automates sales, marketing and customer support. The software employed often has a customer card that contains all the primary data, from master data to past sales to purchasing habits.

All this data is transformed into valuable information, which helps to provide tailored customer service, intercept their needs and monitor the main market trends. CRM software becomes the heart of the company which replaces now old and obsolete systems.

This, however, must be contextualized with the current moment, which unfortunately sees us still fighting the Covid-19 pandemic. Coronavirus has radically changed customers’ habits and approaches to purchasing, data that must be considered and analyzed carefully.

Corporate CRM: How conversations are changing

CRM

After briefly delving into CRM, it is worth understanding the latest changes in consumer habits. During the pandemic, a large part of the market moved online. This is no surprise; in fact, it is a process that has been going on for some time. However, it was not expected that the digitization of the market would take place so abruptly.

During the lockdown, 64% of customers, especially Millennials and Generation Z, relied on messaging channels, considered faster than traditional channels. After all, speed ​​is the watchword for efficient and valued customer service.

Communication between customer and company becomes more direct and less formal. For this reason, conversational business has developed considerably, in which dialogue becomes friendly, but always professional. We at We Are Fiber have optimized a practical and modern conversational business model, from surveys to social media, from email to chatbots. Empathy must always be accompanied by modern tools, in order to retain the human aspect in the company / customer relationship.

CRM at the service of customers

According to data collected by Zendesk, one of our main partners: during the pandemic, 31% of customers bought from a new company in 2020 and 84% plan to continue to do so. From this data, it is possible to draw two conclusions. Consumers are more likely to “experiment” with new companies, so you ought to try to expand your “customer base”. Precisely for this reason, however, you must initiate loyalty policies, to prevent your customers from switching to the competition.

The Zendesk report also revealed that 64% of customers used a new support channel in 2020 and 73% plan to do so again. As a result, it is essential to enhance one’s communication channels according to an omnichannel strategy, capable of responding to customers via app, email, chat, website, etc.

Many of our customers added a new channel this year, and 53% chose messaging. The result: companies that have been able to solve customer problems faster through messaging apps have seen an increase in the level of satisfaction equal to 23%, which was also accompanied by an increase in sales of more than 33%.

The benefits of CRM

To take advantage of CRM and put it at the service of your company, you must contextualize it and adapt it to your needs. If you succeed, you will achieve a series of tangible benefits that will translate into a nice cost cut. Below is a list of all the benefits of CRM.

Winning new customers at no cost

Acquiring new customers is generally one of the most expensive operations. With CRM, on the other hand, you can optimize and retain old customers. This, in turn, produces marketing tools by creating positive word of mouth that improves the brand awareness of your company, helping you to win over new customers at no cost.

Reduction of production costs

By keeping tabs on your customers’ habits, you gain a clearer view of your stock inventory and understand which products are the best sellers for immediate reorder. In this way, you optimize warehouse management and reduce waiting times, increasing revenues and profits at lower costs.

Portal self-service

The CRM management systems are based on self-service portals which, through automated functions, allow customers to find answers to their questions quickly without stressing the call centers. The service is much smoother and of excellent quality, for the benefit of consumers and the service team itself.

Do you want to find out how to take advantage of all the benefits deriving from CRM?

Contact us, so that we can team up and achieve the results of which you have always dreamed.

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