Friday, April 20, 2012
When used optimally, customer relationship management (CRM) can be an extremely powerful business tool. By providing detailed data on an organization's potential and existing clients, CRM can improve a company's retail abilities, customer support, technical support and more. A recent study from Nucleus Research concluded that by investing in CRM, companies see an average return of $5.60 for every dollar they spend.
However, not all companies are successful in implementing CRM. Without an understanding of how to take advantage of its offerings, organizations may struggle to effectively use the information CRM provides.
Writing for Forbes, CRM expert Gene Marks recently argued that simplicity is the key to success. At its core, CRM is essentially a database, he maintains, and a database is only useful as long as it is accessible.
To emphasize this point, Marks provides the example of a client of his who wanted nothing more than four reports delivered regularly. This was the only information he needed to improve his sales team's performance.
According to Marks, the key to successful CRM is customizing the information to ensure it is easy for the client to access and understand.