Importance of CRM in 2021
Customer relationship has been one of the most crucial aspects of the business throughout history business. It is not just in this digital age that customer relationships are relevant. Since customer relationship is an indispensable aspect of a business, businesses are trying hard to figure out the best way to do it and this is where Customer Relationship Management (CRM) Software can be of use.
Customer Relationship Management (CRM) application plays a crucial role in managing customer interactions. Companies around the globe have leveraged CRM strategies to gain a competitive edge. It covers critical customer-facing departments like sales, marketing, customer services, and more. The selection of the right CRM solution is a business priority to serve their customers better.
One such CRM tool that gives everything your team needs to be more effective and productive is Oracle Engagement Cloud (Oracle CX Cloud). It provides a better Customer Relationship system with systematic Process Flows that improve interactions between businesses and customers for increased profits.
Benefits of CRM for Businesses in 2021:
Better customer service
A CRM manages all of your contacts and gathers important customer information — like demographics, purchase records and previous messages across all channels — and makes it easily accessible to anyone in your company who needs it. This ensures that your employees have all they need to know about the customer at their fingertips and can provide a better customer experience, which tends to boost customer satisfaction.
Increased sales
A CRM tool can help you streamline your sales process, build a sales pipeline, automate key tasks and analyze all of your sales data in one centralized place, potentially increasing sales and productivity.
Improved customer retention
Once you’ve procured and converted leads, it’s vital that you put in the work to retain them as customers and promote customer loyalty. Use your CRM and the information it provides about your customers to encourage repeat business. The CRM will provide sentiment analysis, automated ticketing, customer support automation and user behavior tracking to help you determine problems and quickly address them with your customers.
Detailed analytics
CRM software typically has built-in analytic capabilities to contextualize data, breaking it down into actionable items and easily understood metrics. Metrics such as click-through rates, bounce rates, and demographic information allow you to judge the success of a marketing campaign and optimize accordingly.
Higher productivity and efficiency
CRM software uses marketing automation technology, which expedites menial tasks like drip campaigns and frees up your employees’ time to focus on work only humans can handle, like creating content. It can also ensure that no tasks slip through the cracks. It also improves workflows.
Build better sales plans using critical data
Unify real-time customer intelligence with data from ERP and HR systems to generate ideal quotas, manage territories, align sales compensation, and create sales plans that meet and exceed your business goals.
Provide a comprehensive customer profile
Connect trusted data from back-office and CRM systems. Then layer on third-party and AI-enabled, dynamic company data for a complete customer picture that improves sales conversion rates.
Guide sellers with recommendations
Go beyond a traditional CRM solution with a system of recommendations that guides sellers to the best course of action. With a reimagined user experience, focus on the right, highest priority deals at the right time.
Use the tools that help you sell more
Talk to your CRM, do more with fewer clicks, and accelerate deals. Sell more with adaptive search, a new digital sales assistant, and much more. Explore the link below to learn more about Oracle Sales.
Thus, the importance of a CRM like Oracle Engagement Cloud cannot be overstated. By focusing on a company’s relationships with suppliers, customers, colleagues among other relations, Oracle Engagement Cloud helps companies to recruit new prospects, win their trust, and offer efficient services and support through the built relationships.
