Post by account_disabled on Jan 21, 2024 23:38:00 GMT -5
Every business needs to build stable and long-term relationships with its customers. A great way to stand out from your competitors is to be well aware of your customer’s problems, give them due attention and provide the best communication. In other words, it is good for a business to care for its customers. According toForrester Research, “customer-obsessed” companies report revenue growth 2.5 times that of their “brick and mortar” competitors. The level of customer retention and staff engagement in such companies is 2 times higher. Business today puts customer focus at the forefront. But it is impossible to achieve it without collecting data on customer activity and proper planning of processes. This is exactly why CRM systems (Customer relationship management) were created. With the help of CRM, companies strive to avoid fragmentation of information and form the most holistic view of customers. AI has begun to be involved in analyzing the customer base. Don’t forget about such bonuses as process automation and reducing human factor risks.
How to recover the costs of CRM implementation How to recover the costs of CRM implementation Calculating the economic effect of CRM implementation in hard numbers is not so easy. You will have to take into account indicators for customers, sales team, marketing, etc. There are many factors that influence the return on investment (ROI) of a CRM system. However, the con B2B Email List sulting agency DCG gives a specific estimate: every dollar invested in such infrastructure ultimately generates an average of $8.7 in sales revenue. That is why the market for CRM solutions has been growing at a tremendous pace in recent years and could reach $103 billion by 2023. At the same time, CRM systems are developing qualitatively; the return on investment in them will only grow in the coming years. CRM in Ukraine CRM in Ukraine This global trend is coming to Ukraine very slowly. More than 90% of Ukrainian companies today do not use CRM systems. About half keep reports on work with clients in spreadsheets, and a third even record key points on paper.
Practice shows that in post-Soviet realities, investments in CRM can pay off in at least 3 months. Successful implementation of such a system reduces the cost of actively attracting customers by 15-20% and halves the churn rate of existing users. The efficiency of introducing new goods and services increases by a third. What reduces the profitability of CRM What reduces the profitability of CRM CRM technologies are not magic that can solve any business problem. The success of their implementation depends on the specifics of the company and its specific business model. In fact, CRM is often implemented as a straightforward automation of already established processes with existing personnel. The benefits of this approach are minimal, but for many this is enough. A comprehensive CRM project means for a company at least a partial revision of the business logic, and this is associated with serious investments. But the rewards for such investments can be great. It is important to avoid problems that can reduce the ROI of your CRM investment.
How to recover the costs of CRM implementation How to recover the costs of CRM implementation Calculating the economic effect of CRM implementation in hard numbers is not so easy. You will have to take into account indicators for customers, sales team, marketing, etc. There are many factors that influence the return on investment (ROI) of a CRM system. However, the con B2B Email List sulting agency DCG gives a specific estimate: every dollar invested in such infrastructure ultimately generates an average of $8.7 in sales revenue. That is why the market for CRM solutions has been growing at a tremendous pace in recent years and could reach $103 billion by 2023. At the same time, CRM systems are developing qualitatively; the return on investment in them will only grow in the coming years. CRM in Ukraine CRM in Ukraine This global trend is coming to Ukraine very slowly. More than 90% of Ukrainian companies today do not use CRM systems. About half keep reports on work with clients in spreadsheets, and a third even record key points on paper.
Practice shows that in post-Soviet realities, investments in CRM can pay off in at least 3 months. Successful implementation of such a system reduces the cost of actively attracting customers by 15-20% and halves the churn rate of existing users. The efficiency of introducing new goods and services increases by a third. What reduces the profitability of CRM What reduces the profitability of CRM CRM technologies are not magic that can solve any business problem. The success of their implementation depends on the specifics of the company and its specific business model. In fact, CRM is often implemented as a straightforward automation of already established processes with existing personnel. The benefits of this approach are minimal, but for many this is enough. A comprehensive CRM project means for a company at least a partial revision of the business logic, and this is associated with serious investments. But the rewards for such investments can be great. It is important to avoid problems that can reduce the ROI of your CRM investment.