5 CRM Trends in 2016 (India)

5 CRM Trends in 2016 (India)

According to Forrester Research, today’s age is the “age of customer”. Today, the customer has greater access to information through forums like company websites, live chat, social media, self-service options and more and drives the CRM trends in the market. Customer is now able to voice his opinions and ensure that grievances are heard. To ensure customer loyalty in this competitive world, companies are increasingly adopting Customer Relationship Management (CRM) tools helps keep pace with the dynamic world and hence, to have a fair idea of the expected CRM Trends in near future.

 

Some Numbers that might interest you:

CRM market in India was valued at around INR 18 billion in 2014 and is estimated to grow at a CAGR of around 20.9% over 2014-19*. Global market for Customer Relationship Management (CRM) software stands at INR 1,397.6 billion in 2014 and is expected to grow to INR 2,639.7 billion by 2019. Asia/Pacific grew the fastest, with growth of 18.7% in 2014**. As per Gartner, ROI on CRM software solutions has been more than 600% *

Pure play vendors in the market recorded strong revenue growth as midsize and large organizations sought to build out digital market and customer experience. In 2015 digital marketers have mainly focused on video, mobile and social media channels & 2016 is set to unfold and is expected to bring new CRM trends.

 

Major Contributors in growth of the CRM Industry:

Large Enterprises have always been early adopters of technology and rightly so. In addition to the Large Enterprises, Medium Enterprises (ME) are fast adopting CRM and it is expected that at least 60% **of mid-sized businesses across services industry and 25% of mid-sized product enterprises will have invest in CRM by this year. Also, SMB is catching up with almost 25% **adoption rate in services industry.

Across the Small, Medium and Large Enterprises, Service Industry is expected to be the major contributor to growth of CRM industry. To learn more about how SimpleCRM can benefit Service Industry Click here.

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real estate

Sell & Lease More Properties Using Real Estate CRM

Sell & Lease More Properties Using Real Estate CRM

Customer Relationship Management (CRM) is a powerful  system that can be deployed either cloud or existing IT infrastructure or in a data center of your choice. It provides instant access to critical customer data on your computer, mobile and tablet, opening up a world of opportunity for sales as well as services !!

Like most other Businesses, companies in the Real Estate sector also need to be at the forefront, by differentiating itself from its competitors at every stage. This begins with customer acquisition , customer service, delight and continues for lifetime to ensure customer loyalty and brand advocacy.

 

 What are the benefits of CRM for Real Estate?

1.Maintain and track flats, plots, and units inventory

It is important that all records pertaining to development are tracked and maintained, as knowing these makes it possible to plan promotion, sales as well as manage and deliver commitments. When you track all records of flats, plots and units inventory it helps you to stay updated and plan accordingly to the requirement. CRM helps you store all your data on a single platform, which can be accessed and updated anytime and anywhere.

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customer retention

7 Tips to Improve Customer Retention

Customer Retention through CRM

It is said that acquiring a new customer is almost 16 times more expensive than retaining an existing one to whom you can cross sell and up-sell. According to a survey by SAS and Loyalty360,  68% of the business comes from existing clients.This makes  customer retention incredibly important to sustain and grow. Customer Retention is  not only less exhaustive than customer acquisition but also builds royalty and lifetime value of customers.

However, with customer expectations at all-time highs and brand loyalty at risk from  market pressure and competition, businesses must come up with new strategies to keep their valuable customers coming back.

Lets have a look at how can we improve customer retention.

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Social CRM

CRM with Social Media

CRM with Social Media

How would you like to have a house on the top floor of a high rise, with a spectacular view but no elevator in the building? This is exactly what you would experience on when you invest in a system which deals with just static and not dynamic data in today’s fast moving world!! The key to this is Customer Relationship Management(CRM) linked to social media
Customer Relationship Management(CRM) is the need of the day. Today’s customer is spoilt for choices. As soon as he plays with the thought of going for some product or service, there is a long list of providers in front of him. What is it that would differentiate you from others in this list? The answer to this is how quickly you reached out to him and how you completely delighted him/her with your knowledge about the requirements and suggestions based on age/occupation/geography and such other demographic factors. This is possible with help of a CRM tool.
However, the information that we have needs to be constantly updated and there should be a mechanism which helps us reach out at the earliest, to prospects as well as existing clients. This is where Social CRM comes to our rescue!!

What is Social CRM?
Social CRM (Customer Relationship Management) is use of social media services and technology integrated with CRM to enable organizations to engage with their customers.

Why Social CRM?

We can broadly look at two use cases of Social CRM:
Social Engagement with prospects: Social CRM tools allow businesses to better engage with their customers by listening to sentiments about their products and services, tracking their opinions on various features, getting an idea how influential that person is, in his/her social circle.

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5 Quick Benefits of a CRM

 

5 Quick Benefits of a CRM
Every business needs to evolve and adapt over time. With growing competition and customer requirements business dynamics have changed and one cannot rely on traditional tools, such as Excel & Outlook, for managing sales, marketing and support. CRM provides a strategy to consolidate customer information, maintain relation with customers, keep sales managers updated with the latest market and customer information, and helps businesses grow.A CRM is more of a necessity than luxury, which is why today companies are rushing to get on the CRM bandwagon.
CRM helps organizations to:

 

Retain customers
“Every contact we have with a customer influences whether or not they’ll come back. We have to be great every time or we’ll lose them.” – Kevin Stirtz.
The ultimate goal of any business is to retain its potential customers. At no point you would want to lose your customers who are giving you sales benefit. A personalized relationship with customer can go a long way in retention of the customer. A CRM helps you acquire customer complaints received through calls and emails, cataloging them in an appropriate category and work towards grievance redressal which leads to creation of strong customer experience and their retention for the company.

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Top 3 Reasons Why SMBs Should Immediately Adopt CRM

How effective is CRM really?

 

How effective is CRM really?

Customer relationship management (CRM) solutions have become important to modern business, but how effective are they? Most of the companies are still using spreadsheets to manage their customers, are they really effective? And if they are using any other traditional standalone CRM system are those effective?

In these ever changing business dynamics corporate world will have to make a choice –

  • Option 1: Keep managing customers through hard copies and spreadsheets
  • Option 2 : Keep using age old standalone CRM software
  • Option 3: Move to latest integrated, cloud-based CRM system

Let’s discuss the pros and cons of these options one by one.

 

Option1: Using spreadsheets

A start-up company may find this option cost effective initially, but as the business grows it is neither scalable nor it is flexible for expanding business needs. Company will quickly realise that they need a more scalable and flexible CRM to track customers and transactions to stay competitive. Spreadsheet has many short comings.

  • Spreadsheets limits the customer data into individual computer systems
  • Management will never have visibility into sales team’s activities
  • Alerts, reminders and diligent follow-up are missing resulting into loss of business
  • Complicated and time consuming reporting and analysis methods
  • What happens when an employee leaves the job? Data is permanently gone with him or will be hard to comprehend…

These analysis leads to one simple query, is this method ideal for the rapidly growing business needs? The answer is NO.

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CRM for Higher Education

Have you wondered about what CRM for Higher Education offers and whether you need it for your educational institute?

You might if you:

  1. Have enquires coming from various sources and want to ensure effective follow-ups.
  2. Want to find out how many leads are getting converted in a month and how your admissions counsellors are performing.
  3. Are using hard copies or word or excel to manage leads or enquiries.
  4. Would like to have a better student or faculty feedback tracking OR trouble ticket management solution.
  5. Finding it difficult to maintain effective relationship with your alumni and corporate donors.
  6. Are not sure what was your return on investment for your marketing campaigns.
  7. Would like to have instant reports on campus wise fees collection.
  8. Want to better market your MDP programs and manage corporate relations.

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Configure Price Quote (CPQ)

 

What is Configure Price Quote (CPQ) solution? Do I need it?

You might if you:

  1. Have someone who manually reviews quotes before sending to customers.
  2. Have plans to increase sales revenue and need a solid system in place to help you scale your business.
  3. Are using Word or Excel to manage leads, opportunities and produce quotes.
  4. Are frequently on the move and need easy access to latest products, product bundles, pricing, current offers, etc.
  5. Have hard time determining quickly which discounts the client is eligible

Sounds familiar?

 

Yes, but tell me more.

You may also be able relate to the following problems:

  1. Sales team is frequently sending incorrect quotes for your approval, or worse still, sending incorrect quotes to the customers.
  1. Discount approvals are not being consistently applied resulting in incorrect pricing, offering expired discounts or applying discounts to wrong products or services.

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Omni Channel Help Desk CRM

What is Omni Channel Help Desk CRM? 

Say a company offers a great product or service, has a great lead generation engine and a crack sales team, who wins tons of new business every month. It has everything going for it in terms of customer acquisition but does not have a Help Desk CRM or Support Centre CRM. So the question becomes, are its customers experiencing a great customer service for the products or services purchased, are their issues and enquiries getting promptly addressed, are they satisfied after their purchase or are feeling buyer’s remorse? In short, is the company able to retain most of its customers after acquiring them?

A good support center or help desk crm allows you to interact with the customers who call in with problems or send emails to support@companyname.com. A better customer support crm will also provide a customer self-service portal where customers can log in to report (and track statuses of) their issues.

In today’s digital world there are additional ways in which a company can interact with or engage its customers:

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