Customer Relationship Management (CRM) is a must for any business seeking to elevate its customer experiences. Originally used to boost sales, marketing, and customer service efficiency, CRM now serves a wider purpose of improving the customer experience from start to finish.
Why businesses need CRM
Revamping the customer experience: Successful businesses view CRM as a strategic technology, enabling them to increase customer satisfaction. By including new technologies such as AI, CRM now optimises interactions with customers, enhances employee engagement, and continuously improves processes.
Embracing modern development: CRM evolves with modern development practices, offering greater flexibility through no- and low-code platforms. This allows businesses to customise their CRM capabilities to suit their unique needs.
Harnessing the cloud: Businesses can unlock more advantages by moving their CRM to the cloud, such as enabling greater scalability. Businesses can maximise their CRM functionality by strategically selecting the cloud infrastructure that aligns best with their strategy.
The evolution of CRM
CRM has evolved beyond improving operational efficiencies to become a pivotal element across entire organisations. The latest developments in CRM offer exciting opportunities for businesses, including:
Unifying customer engagement: CRM allows for greater links between marketing, sales, commerce, and customer service. Creating a shared view of the customer journey in this way increases collaboration and streamlines processes.
Welcoming new tech: New technologies allow for repetitive tasks to be automated, with AI being able to guide CRM users and drive better decision-making.
Measuring relationship strength: CRM shifts the focus from productivity to measuring the quality and strength of customer relationships. This transformation positions CRM as a crucial part of the overall strategy for many businesses.
Why executives should care
Tech executives play a vital role in the success of CRM, making critical decisions to drive its value and adoption, such as:
Defining the CRM vision: Executives must ensure their CRM strategy is aligned with their company’s vision to increase support. This allows CRM to become a strategic pillar of an organisation.
Making informed choices: Evaluating newer CRM offerings alongside established providers is essential. CRM should be tailored to a company’s unique needs, allowing for seamless implementation.
Tailoring CRM investment: Executives must avoid overinvestment in unnecessary CRM capabilities, selecting only the capabilities that are right for their business and ensuring a cost-effective approach.
Empowering partnerships: Learning from experts with industry-specific knowledge further increases the effectiveness of CRM, with ongoing support ensuring long-term success.
Measuring success: Executives must continuously assess CRM support, customer satisfaction, and the technical capabilities of CRM to measure its impact on customer retention and business growth.
CRM is no longer just a tool, but a strategic necessity for businesses aiming to create the best possible customer experiences. With the power of CRM, companies can forge stronger relationships, drive growth, and thrive against their competitors.
If you’re interested, why not let Axon guide you on your Dynamics journey? Contact us today for an initial chat with one of our experts.