Now's the time to get the most out of CRM

Whether it's the global credit crunch, rocketing food and fuel prices, power outages, increasing interest rates or political instability, businesses are having to navigate their way through uncertain times. Keeping revenue flowing whilst keeping an eye on ever increasing overheads is the key to survival at times like this and it has become crucial that companies continue to bring in those all-important sales that keep the business afloat. Whether it's services, goods or time that is being sold, the successful businesses outsmart their competitors and while more advertising will likely bring in more sales there is one often neglected area that really needs to be given attention when times get tough, and that is CRM.

“Nobody would deny that any business should be taking good care of its existing customers and that prospective customers should receive the necessary service and attention that they require before committing to buying from the business,” comments Mark Annett of Camsoft, a local Maximizer CRM solution provider. “Achieving this, however, requires an effective CRM strategy that has been properly implemented and which everyone in the business subscribes to. It is also imperative that the strategy enjoys the full support of management at all levels, particularly the managing director or owner of the business who needs to demonstrate his or her commitment to the company's chosen CRM practice by participating fully in it,” comments Annett. CRM on its own isn't going to deliver the desired sales results and a CRM manager under the guidance of the MD needs to take ownership and responsibility for the company's CRM effort in order for it to be effective and deliver results. This includes regular appraisals of the CRM success within the company so that in addition to measuring the obvious benefits of increased sales other less obvious aspects of the CRM can be evaluated. For example, a CRM manager should the quality and quantity of information that employees are entering into the company's CRM solution and determine whether this information is sufficiently relevant and of benefit to the company.

The timeousness of employee responses to customer requests such as quotations, product advice or queries, as well as complaints, can also be measured to determine how well customers are being looked after. “It's a known fact that it typically costs as much as ten times the amount of effort and resources to get new customers as it does simply looking after existing ones,” comments Annett. “If you consider that your existing customers currently generate all your income it makes sense to provide them with the best possible service because then your business will more easily withstand cyclical downturns in the economy and prosper.”