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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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 Life Insurance Organizations

 

SimpleCRM to provide Lead & Case Management Solution to one of the largest Life Insurers in Southeast Asia

SimpleCRM will provide Lead & Case Management solution to one of the largest Life Insurance organizations in Southeast Asia. The solution is expected to expand the Life Insurer’s existing customer base and streamline its support operations. The company zeroed in on SimpleCRM as the most cost effective, enterprise ready CRM for Life Insurance operations with comprehensive Sales Automation and Multi-Channel Customer Support capabilities.

SimpleCRM Lead & Case Management solution will enable the company to:

  • Automate lead management, opportunity management, follow-ups and other sales related tasks.
  • Consolidate information and enable management to have real-time, accurate reports that greatly enhances the sales funnel visibility and forecasting
  • Leverage existing customer data for sending offers, promotions and updates via email, SMSes or outbound tele-calling campaigns.
  • Link social media campaigns to SimpleCRM and directly capture leads in the Lead Management System.
  • Run Multi-Channel Support Centre to eliminate customer aggravation when they are forced to identify themselves repeatedly or CSR not being up-to-date on prior conversations.
  • Streamline and boost service operations and enabling up-sell/cross-sell.

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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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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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