Arihant Capital Markets Ltd buys our tools to synchronize Marketing, Sales and Customer Care Activities of their 620 offices in 110 cities in India. Cloud Computing technology would be used for hosting these Marketing, Sales and Customer Care tools.
What is Customer Management System?
Customer management system is a corporate information software intended for improving customer services by means of storing the information about customers, contacts and the history of the relationships with them, establishing and improving business procedures based on the stored information and future evaluation of its effectiveness.
The main principles of customer management system are the following:
• Unified customer data storage where the data on any cases of interaction and contract signing with customers is available at any time;
• Synchronization of managing numerous interaction channels
• Continuous analysis of the gathered information about customers and contracts, taking the corresponding organizational decisions, for example, setting priorities based on the importance to the customer's company.
The aim of customer management system development is the increase in the company’s management due to effective interaction and coordination between the management and main departments: sales, marketing, finance and production. The company’s performance becomes more predictable, the transparency and effectiveness of all business processes connected with the relationships with customers and partners increase. It allows minimizing resource expenses for attracting new customers and retaining the existing ones, organizing income accounting and forecasting and the required resources for their implementation.
Customer management system is a software solution which gives any business or company a chance to become highly organized and oriented on customers having placed them in the center of all information channels related to them and provides sales people the access to the required data. In the customer oriented company sales people will have the access to the whole information which, one way or another, influences their relations with customers. Negotiations, informal discussion, letters, complaints, reclamations, all the information which has been sent to the customer – everything that can influence the ability of the sales people to provide services and, as a result, sell more goods and services.
The customer oriented companies handle client’s requests more quickly and accurately as the whole necessary information is stored in one place. A central goal of every business is to serve its customers upto their satisfaction and earn more business from them. For as long as there have been success or failure has hinged on this simple rule. Customer management system is a way of using technology to do just that.
Customer management is a business strategy that often involves using multiple pieces of software, as well as implementing policies that promote the collection of customer information, and the use of that information by individuals throughout the company in order to maximize customer service and increase sales.
Every customer call is a potential sale. Every contact is a sales opportunity. It is 10 times easier and cost much less to sell to existing customers than to find and sell to new prospects. And a few regular customers can generate more revenue than hundreds of occasional customers, so these customers deserve special attention.
Features of our Customer Management System :
1. Act on every lead and customer
Getting systems in place to organize leads helps the sales team to know who has been contacted and who has not. This ensures that leads do not fall through the cracks and potential leads are not annoyed by multiple contacts.
2. Bring the Focus Back to Selling
Instead of sales representatives using precious time to make endless cold calls and trying to find accounts, the accounts can come to them. More focus is placed on selling the product and making the sale. With everyone online instead of on paper, information is readily accessible and time is left for reps to do what they do best—sell.
3. Find trends in sales
Separate your leads by business type, referrals, occupation, etc. You are able to determine their needs and sell them the right products. When a lead sees that their customer’s needs are being met and cared for, they are more likely to continue in the selling process.
4. Match leads and customers with the right salesperson
Different salespeople have different approaches to how they do business. Some are good with certain types of business and others provide better service working directly with individuals. With a customer management system in place, you are able to route leads to the salesperson who best fits and knows their needs.
5.Analyze sales and forecast for the future
customer management system keeps a history of the entire sales process, from initial contact to closing the sale, including sales history. You are able to work with your reps on how to improve, while making sure customers are taken care of at the same time.
6. Encourage collaboration and teamwork
With customer management system, reps are able to see how they are doing, as well as everyone else. Reps can find and learn about recent deals similar to theirs and work with others on what they can do to improve.
7. Get your sales team face-to-face with leads and customers
With the focus back on selling and not on cold calls, reps will have time to meet personally with leads and customers, developing long lasting relationships that cannot be obtained through e-mail and phone calls. And because all of the information is online and not on a single computer, they can work from anywhere and update information as it happens.
8. Customize the program to fit your needs
It is undeniable that different businesses have different needs, so customer management system allow you to customize the look and feel of the service how you see fit.
9. Monitor interactions at every step
Eliminate the need for lengthy meetings. Every interaction a rep has with a lead can be recorded, so managers can monitor how everyone is doing whenever and wherever you need.
10. Lead and customer information is uniform and comprehensive
The right system can allow you to collect information about your leads and customers and keep everything straight, so you always know how to approach them.
Benefits of Customer Management System :
1. Increasing the Customer Satisfaction
The main benefit of customer Management system is helping the sales team for offering the best service to customers because they will be able to easily identify and meet the needs of their customers. Without information customers can experience errors or imprecise orders which resulted in a complaint. But when you implement customer management system so sales teams, it can access information about all the company's customers in one place and can anticipate
and meet the needs of the customer.
2. Easily in sharing more customer information
Customer management system allows the entire team in the company to get the customer information easily and accurately in order to save time. With a history of customer data so companies can provide this information to the entire sales team. So this will make the process smoother and smoother sales. Other uses are that the information will be in one place and not to be divided on some drives, printed or downloaded into the memory stick so safe.
3. Increase sales by up selling and cross selling
A Customer Management system can record everything from the moment a customer makes a call and make purchases, and sales teams can use this information to sell other products or other services to their customers, because they have a clear idea about the style of life / lifestyle of the customer and their buying habits from their customers. Information on the customer management
system will also allow staff to see the history of their customers' buying trends and look for patterns of behavior of their customers which means you know when you can reach them at the time that is most suitable.
4. Identify most profitable and unprofitable customers
Sales and marketing to customers that not timely / not profitable can be time consuming and draining your financial and manpower. A Customer Management system can help sales team to identify customers who did not bring any profit to the company and instead allows them to focus their time on more profitable customers.
5. Increase PR and sales
This process will help to improve customer retention to the sales team so that the sales team can build a strong and good relationship with the right customer.
Customer Management systems can help to reduce operating costs and increase sales by making the sales process faster, more clearly and more effectively.
Cloud computing and customer management system :
Cloud computing is a technology that uses the internet and central remote servers to maintain data and applications. Cloud computing allows consumers and businesses to use applications without installation and access their personal files at any computer with internet access. This technology allows for much more efficient computing by centralizing storage, memory, processing and bandwidth and hence recommended for the customer management system.
1. Saves time.
Businesses that utilizes software programs for example customer management system needs are disadvantaged, because of the time needed to get new programs to operate at functional levels. By turning to cloud computing, you avoid these hassles. You simply need access to a computer with Internet to view the information you need.
2. Less glitches.
Applications serviced through cloud computing require fewer versions. Upgrades are needed less frequently and are typically managed by data centers. Often, businesses experience problems with software because they are not designed to be used with similar applications. Departments cannot share data because they use different applications. Cloud computing enables users to integrate various types of applications including management systems, word processors, and e-mail. The fewer glitches, the more productivity expected from employees.
3. Going green.
On average, individual personal computers are only used at approximately 10 to 20 percent of their capacity. Similarly, computers are left idle for hours at a times soaking up energy. Pooling resources into a cloud consolidates energy use. Essentially, you save on costs by paying for what you use and extending the life of your PC.
4. Fancy technology.
Cloud computing offers customers more access to power. This power is not ordinarily accessible through a standard PC. Applications now use virtual power. Users can even build virtual assistants, which automate tasks such as ordering, managing dates, and offering reminders for upcoming meetings.
5. Mobilization.
From just about anywhere in the world, services that you need are available. Sales are conducted over the phone and leads are tracked by using a cell phone. Cloud computing opens users up to a whole new world of wireless devices, all of which can be used to access any applications. Companies are taking sales productivity to a whole new level, while at the same time, providing their sales representatives with high quality, professional devices to motivate them to do their jobs well.
6. Consumer trends.
Business practices that are most successful are the ones that reflect consumer trends. Currently, over 69 percent of Americans with internet access use a source of cloud computing. Whether it is Web e-mail, data storage, or software, this number continues to grow. Consumers are looking to conduct business with a modern approach.
7. Social media.
Social networking is all the wave of the future among entrepreneurs. Companies are using social networking sites such as Twitter, Facebook, and LinkedIn to heighten their productivity levels. Blogs are used to communicate with customers about improvements that need to be made within companies. LinkedIn is a popular website used by business professionals for collaboration purposes. Also, target groups are tracked more efficiently by tagging networks on Facebook. New advertising techniques are also being used on these sites, and businesses are seeing the advantages of assimilating to a more modern world.
8. Customize.
All to often, companies purchase the latest software in hopes that it will improve their sales. Sometimes, programs do not quite meet the needs of a company. Some businesses require a personalized touch, that ordinary software cannot provide. Cloud computing gives the user the opportunity to build custom applications on a user-friendly interface. In a competitive world, your business needs to stand out from the rest. Customization is the solution for this problem.
9. IT staff cuts.
When all the services you need are maintained by experts outside your business, there is not need to hire new ones.