Customer relationship management (CRM) is a system that helps your business organises and manages relationships with customers. They can gather accounting, sales and customer service information to paint a picture of how your company deals with its customer base. This can really be used as an advantage to show that your customers are know and loved.
A CRM system will integrate you accounts, sales and customer service records together for maximum benefit. CRM will help your team in several ways.
- Cross-Selling. If you can track which products a customer purchases you can then easily promote complementary products such as accessories, new models and similar products. The opportunities are huge when harnessed in the right fashion.
- Upsell. You can really go to town with this method; you can enable your customers to upgrade their service agreements, extended warranties at discounted price and so on. This method can be creamed very effectively and once you have the system in place it requires very little maintenance but the possibility of big sales.
- Keep track of items in baskets. In other words this feature will give you the ability to see what items have been put in the shopping basket but not purchased. CRM can keep track of abandoned shopping carts and a tally of any sales call you make which do not convert. This practice will give you the ability to see if any areas of your site or products for that matter are weak or you have strong competition for a certain product.
For met once of the greatest functions of CRM which saves many man-hours is that it lets you track what consumers purchase from you so can build a clear profile of their interest and shopping patterns.
CRM can have a learning curve but once you have got past the first six months it really comes into its own. In the good old days in an offline business you would spend hours collating this form of information. Once implemented successfully you will find your online business go to a new level. I did not experiment with CRM in my online businesses for quite some time, I thought that this was for big companies with big profits, but i could not have been further from the truth. It does not matter what size your business, whether it is online or offline – to be successful you need the right infrastructure in place to be able to take our business to new heights.