Customer relationship management (CRM) is an essential element for all businesses – whether you are running a call centre, a garage, a hospital, or breeding horses.
These solutions provide the tools and capabilities needed by an organisation to create and maintain a clear picture of business relationships – from first contact through to purchase or service – providing a 360-degree view of all relationships. By integrating systems and processes, and connecting people with processes to drive productivity, CRM solutions help strengthen an organisation's relationships.
CRM solutions enable businesses to cultivate and maintain enduring relationships thanks to a continually updated in-depth database; a database that captures all the information about every relationship in one place. Multiple people, departments and locations across the organisation can access this information to get a real-time view of the status of each relationship, which means organisations can accurately spot trends, behaviour or issues that need to be addressed. Some of the key benefits of an integrated CRM programme include:
- Better relationship management
- Identifying leads and cross-selling opportunities
- Improving customer/partner management
- Improving service, loyalty and retention
- Better profiling and targeting
- Streamlining sales and marketing processes
- Accurate reporting
- Boosting productivity and collaboration.
Getting the most out of CRM CRM solutions should streamline the way your teams communicate both internally and externally. This software works best when it is integrated into everything the business does, including the financial systems, bookings and sales, online feedback and every other customer touch point. The technology is used to organise, automate and synchronise business processes, providing employees with all the information they need on a specific customer, or stakeholder, at the click of a mouse.
In order to optimise CRM, the solution must correspond to specific business needs, and companies should make sure they have access to the relevant information to be introduced to the system and have a clear picture of what needs to be achieved (the way the information is presented). Mapping out business processes, and determining what outcomes will be required beforehand, will help businesses pick a CRM solution best suited to their needs.
This, in conjunction with thorough testing by a variety of users on everything the system will be used for, ensures the appropriate customisations are in place and that things are done right first time.
Once the solution is in place, it is important that it has the flexibility to adapt to the changing needs, especially processes, of the business. Businesses that have implemented a CRM solution to help them manage a range of different stakeholder relationships find the systems invaluable in helping them operate their businesses more efficiently and effectively. For instance, the Growing Up in New Zealand Research Project uses CRM to keep track of mothers and their children.
One feature of its CRM system links to a text messaging service to keep in touch with pregnant mothers, making it easy for the company to store, update and manage ongoing relationships with participants and service providers. Companies gain a real-time view of appointments, detailed reporting and cost savings with fewer overheads, enabling a 360-degree view of their customers so they can deliver a much better service.
xRM – extensibility of relationship management It is not just customer relationships that need to be detailed – every business relationship is important. CRM solutions don't just need to be about customers; they can track any relationship. What may be a contact for a telecommunications company might be a patient for a hospital or a court case for a lawyer. The benefit is, irrespective of the terminology, the same information can be recorded and tracked across multiple channels.
For example, NZ Bloodstock, a thoroughbred breeding and sales business, uses xRM to view the status of each of its thoroughbreds, while the Auckland District Health Board uses the solution to monitor and track infectious diseases. At NZ Bloodstock the CRM solution puts the focus on the horses as well as the customers. Because every horse is unique, it helps the organisation to get a fuller picture of all the transactions with its customers through tracking and managing everything related to the thoroughbreds, from sales through to insurance and airfreight. And another bonus is the ability to centralise the company's marketing activities so they are more targeted.
The New Zealand market is heavily populated with small-to-medium businesses, so it is essential to provide a product that is relevant and scalable for these and larger enterprises. xRM suits the requirements of a variety of company types and sizes, and because it allows companies to customise their offering, it gives them a competitive edge. Businesses have to move with the times and keep up with technology to ensure accurate assessment of their business and maintain a competitive advantage. The ability to respond quickly to the changing demands of customers and the commercial environment is essential for success.
The ability to do this successfully comes down to the agility of the business, and the right CRM programme will enable this flexibility.
