Customer Relationship Management—the process—has been used for decades. A marked evolution from product-empathetic to customer-empathetic, the push to focus on customers came as brands decided that hard-selling product benefits only went so far. While such a focus did result in sales, there was no bonding; a customer was just as likely to abandon a brand if something went wrong.
In order to solidify their business future, many companies adopted the customer-focused mentality, built around the following three principles: shielding the current customers, fostering new customers and enhancing asset value of all the customers. Around the initial foray into building CRM strategies, early variations of CRM software entered the market.
Designed to automate the sales process, keep track of customer data, and allow staff to save and search information, the mainframe-based products made it easier to work with customers. These solutions laid the groundwork for CRM’s evolution and democratization. In the 80s, this product evolved to deliver database marketing functionality and contact management, and the 90s brought CRM closer to ERP.
But compared to the technology offered today, these solutions were nowhere near as feature-rich or intelligent. For years, they were a sales tool.
Unfortunately for many businesses, CRM products are still treated as just that.
Getting More out of Your CRM: Focus on Relationships
Like the transition from product empathy to customer empathy that drove CRM adoption in the first place, the shift from using CRM as a way to sell more effectively to a relationship-building tool is imperative. As CRM allows you to centralize and unify your communication and marketing initiatives, it pays to use this data to the best of your abilities.
This matters for a variety of reasons. First? It’s a lot more cost effective to keep a customer than it is to find a new one. Second, by unifying and understanding customer data, you can improve your processes. Third? With the right understanding, you can take the information about one customer—the cycle, needs, and revenue, and use this to improve your communications with similar customers.
Learn More: CRM Software, Customized and Delivered by MIBAR
Businesses of all sizes have turned to CRM software to track, organize, and improve their customer relationships. As a leading provider of business management software in the New York Metro, we understand how to help your business do more with CRM solutions customized for your unique business. Get to know more about our company, the work we do with CRM, and contact us for more information.