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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Email Marketing

Boost Email Marketing ROI With Measuring Metrics

Boost Your Email Marketing ROI with Measuring Metrics

Email marketing is a remarkable way of reaching to potential customers. It is a measurable marketing tool, where you can get inputs and information of your campaign, which will help you plan your future strategy for your products/brand. There are different email marketing measuring metrics you should evaluate to broaden up your reach to potential customers. Below are some essential measuring metrics to boost email marketing.

 

Click-through rate

You can make use of the click-through rate to determine how many times your email messages or your links were clicked by your customers. The higher the number of clicks to your messages the more you are assured that your content is appealing to customers. With the use of CRM you can estimate the number of users of your messages and those that are not interested in your messages. From an analysis from click-through rate you can make future strategies of what to offer to those that do not click your links and to offer additional benefits to those who click your sites regularly.

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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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