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  • CRM 101: Everything You Need to Know

    How do you improve the customer experience? Everyone would know by now if there was a foolproof recipe. In today's business environment, companies realize that success is not only about attracting new customers, but also about retaining the ones they already have. That's why 82% of Quebec companies use a CRM tool

    What are the main features of a CRM? 

    A CRM, or Customer Relationship Management, is a software platform designed to centralize and optimize customer interactions. With its various modules, a CRM has become indispensable to the growth of a company: 

    1. Contact management: Stores customer information and interaction history. 
    2. Sales Management: Track opportunities, quotes, and closed sales. 
    3. Customer service: Handle support tickets and customer service. 
    4. Marketing Automation: Email campaigns, lead tracking, and ad campaign management. 
    5. Analytics and reporting: Performance monitoring, sales reports, and analytical data for informed decision making. 

    Why invest in CRM? 

    A powerful CRM can not only improve your customer relationships, but also increase sales, productivity, and profitability by providing a 360-degree view of your customers. For every dollar a company invests in CRM, it gets back $8,712. 

    According to Gartner3, companies that invest in CRM share common business goals: 

    • Attract new customers 
    • Manage relationships with existing customers 
    • Preserve cash flow 
    • Migrate software to the cloud 
    • Offer new products and services 

    Do you need a CRM or an upgrade to your current software? 

    Pay attention to these signs: 

    • Difficulty managing growth: Your business is growing rapidly and your current CRM is struggling to keep up. Delays in managing customer data or processing new sales opportunities are common. 
    • Lack of customization: Your CRM doesn't allow you to effectively customize customer interactions. Generic communications lead to potential customer loss. 
    • Incomplete or inaccurate data: Gaps in collecting and updating customer information lead to communication errors, wasted time, and missed opportunities. 
    • Customer churn: Your customer retention rate is dropping and you are struggling to keep your existing customers despite your best efforts. 
    • Lack of automation: Manual and repetitive tasks consume a significant amount of your and your team's time, slowing productivity. 
    • Difficulty analyzing data: Analyzing customer data for strategic decision-making is cumbersome or impossible with your current CRM. 
    • Need for integration: Your CRM doesn't integrate well with other key tools in your business, leading to inefficiencies. 

    How to choose your CRM?

    According to a Gartner study, ease of use is the most important decision criterion when choosing a CRM. An easy-to-use CRM is essential to driving adoption. It should be intuitive and require minimal training. Other considerations include 

    • Total cost of ownership: Includes installation, training, licensing, maintenance, and support fees. 
    • Adaptability: Your CRM should be flexible enough to meet your specific business needs and customizable based on your industry, company size, and unique processes. 
    • Integrations: Seamlessly integrate with other software you use, such as accounting, marketing, or project management systems. 
    • Automation: Look for advanced automation features, including marketing, sales, and customer service automation, to save time and improve efficiency. 
    • Analytics and reporting: A good CRM should offer robust analytics and reporting tools for data-driven decision making. 
    • Contact management: The ability to efficiently store and organize information about customers, prospects, and partners is critical. 
    • Customer Service: Customer support features such as ticket management and interaction history are essential to providing exceptional service. 
    • Security: Data security is critical. Make sure the CRM provides robust security measures to protect your company's sensitive information. 
    • Scalability: Choose a CRM that can grow with your business as it expands. 
    • Support and training: Make sure the CRM vendor offers excellent customer support and training resources to help your team use the platform effectively. 

    By carefully evaluating these criteria, you'll be able to choose a CRM that not only meets your current needs, but also supports your long-term goals. 

    Contact Nexus Innovations today to learn more about technologies that meet your organization's specific needs. 

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