19 October 2020
The more your company grows, the more your customer database grows. The CRM helps centralize your customer communications and make the process scalable.
This capability makes a CRM a key tool in any business. It helps improve conversations with your clients and build stronger relationships with current customers and prospects.
Let’s take a look into how to properly manage a CRM and how your business can reap the benefits.
CRM best practices
To get the most out of your CRM, there are some best practices to follow. Keep the following in mind for a CRM that works for your business:
Keep all of your customer information up to date
Data is a critical aspect of a CRM. For it to be effective, your data (such as customer names and addresses) has to be up to date. Data integration services help to ensure your data is accurate and non-redundant.
The CRM helps ensure that all of your customer data is current. Any changes should be immediately made, so your marketing and sales teams always have the most updated information.
Automate the process
A best-in-class CRM will have an automated workflow to eliminate redundant, time-consuming activities. For example, when leads are added to the system, your CRM can send promotions, and other follow up emails to keep your business top of mind.
This means your team can focus on other core activities while still nurturing leads and keeping prospects engaged.
Take advantage of reporting features
The CRM provides insight into consumer behavior and trends. Businesses can use this data to determine new product launches or to see which emails are most successful. This is done by tracking click-through rates and open rates.
This data shows you what’s working and what’s not so you can make changes for the better.
Integrate with other key processes
Integration helps expand the capabilities of the CRM even further. For example, integration with an accounting system helps provides insight into financial and customer information for more in-depth reporting. This also mitigates the need for redundant entry and helps reduce the risk of human error.
Benefits of implementing a CRM
Implementing a CRM will help your business centralize all customer communications and drive better customer relationships. This benefits your business through:
More insight into your customers needs
The CRM provides access to key customer data, centralizing this data, and alleviating the need for using spreadsheets and other manual processes. Streamlining your customer communications means you and your team always have insight into critical customer information, so you can better meet their needs.
Segmentation is critical for creating more personalized marketing messages for your prospects and clients. The CRM enables businesses to break down customer data into criteria and categories, and simplify the process of making lists.
This allows you to custom tailor your content toward each audience segment so you can speak to your customers’ needs and challenges more effectively.
Greater customer retention
A happy customer is your business’s greatest advocate. The CRM helps to keep your customers happy by helping you streamline customer retention strategies. It will also give you insight into which customers haven’t been contacted recently, so you can reach out and gauge their satisfaction.
How the Kompass data app can help meet your CRM goals
For a CRM to be successful, it must provide high-quality data and enable easy user adoption. This is made possible with Kompass. The Kompass data app for Salesforce feeds your CRM with the constantly up-to-date and rich information of the premium Kompass database. This new Data App has been launched in France, Italy and Spain as a first wave.
This can help increase your sales team’s productivity by:
Securing the creation of new accounts
The Kompass system allows you to add new prospects to your CRM easily, so your sales team has the most up to date information. This is critical when reaching out to prospects as it gives your team insight into their needs so that they can provide them with the best information for their needs.
Preventing the generation of duplicate records
To optimize the quality of your data, you want to ensure that you don’t have duplicate entries. Kompass provides a deduplication feature to remove any data redundancies and improve the reliability of your data.
Improving the reliability of your data
If your business data is wrong, you won’t have visibility into the true status of your sales and marketing efforts. Kompass ensures the accuracy of your data through automatic daily updates and comprehensive company information.
The Kompass solution is plug and play, with no training necessary to get up and running. This means your sales team can immediately leverage the data.
The Kompass Global B2B database is constantly updated and enriched so your business always has the most up to date information. More than 43 million companies in over 70 countries have boosted their businesses with Kompass’s solutions.
Successfully manage all aspects of your customer interactions with the CRM
Customer satisfaction is critical for businesses of all sizes. The CRM helps to ensure customers are happy by allowing your business to meet their needs effectively and using data-driven marketing to provide them with content that will resonate with them.
Automated CRMs integrate with other key processes like email marketing or accounting to remove the business silos and help your business better serve its customer base.
Follow the best practices above to ensure a best-in-class CRM process, and you’ll reap the benefits in return.
Interested in learning more about the power of effective CRM? Kompass can help accelerate the power of your CRM and provides leading data consulting solutions. Get in touch with us today for a free demo and see how we can help your business.