CRM for large business

How Conglomerates Are Utilizing CRM To Grow

Gone are those days when businesses used to make use of bookkeeping or spreadsheets for customer management-related tasks. The evolution of SaaS-based customer management tools has revolutionized how customer service is being offered today. If there is one thing that big conglomerates don’t hesitate to invest in, it is a good CRM system.

According to a report by Expert Market, big brands use customer relationship management systems to provide a personalized customer experience, increase engagement with existing customers, and resolve customer issues before they escalate into a more serious problem.

CRM or Customer relationship management systems or software have not only changed the 21st-century customers’ perception of help desk services but have also completely revolutionized how internal business operations operate. The rise of mobile CRM and cloud-based CRM software has had a huge role to play in the rapid growth of numerous Conglomerates.

But how exactly do CRM for large business systems help conglomerates to grow? Let;’s have a look.

Here are 5 ways how CRM for large business have impacted the growth 

1.) Omnichannel Support 

Brands and businesses can only grow when they are present where the customers are present. Having a single channel approach diminishes a company’s brand visibility. One excellent use of CRMs in the omnichannel approach or strategy that the system facilitates. CRMs with Omnichannel offer businesses an opportunity to increase their customer base and reach out to customers on various platforms. 

An Omnichannel support strategy makes it possible for businesses to connect and reach out to their customers through various touchpoints like Facebook, Whatsapp, Instagram, etc. Omnichannel helps businesses enforce their virtual presence and maintain their customer base at the same time without any hassle. 

2.) Better Employee productivity

Did you know helpdesk systems are said to enhance the productivity of your company’s sales teams by 34%? Investing in intelligent customer management software makes it possible for employees and customer service agents to deal with customer support tickets in an organized and efficient manner. 

CRMs ensure that no tickets raised go unanswered which in the end leads to better productivity levels. In addition to faster and efficient ticket remediation, they also help reduce huge amounts of manual workload like customer acquisition or lead generating. Automated and organized work makes it possible for employees to perform better and faster. 

3.) They help them find the right customers

Lead generation is no easy process. From hiring lead gen managers to investing a significant percentage of profits towards generating effective leads, the entire process is time-consuming and expensive. Conglomerates make use of intelligent CRMs to generate leads that have better closer rates or conversation rates. The CRMs make use of keyword tracking tools and get a better understanding of customer preferences, likes and dislikes, etc. Since these leads are generated through customer information that is collected directly from the customers in the form of website activity, app activity, etc. the possibility of conversation goes up. They help conglomerates find and sell products to the right customers.

4.) They enable smooth onboarding and retention

According to a report from VAR Street, customers are likely to spend 20% to 40% more when they engage with the company using service desk automation. As a result of better customer support assistance provided by CRMs companies are likely to increase customer satisfaction rates which ultimately results in an increase in repeat buyers. Better access to quality help desk services keeps customers satisfied. This not only boosts customer engagement rates but also leads to an increase in retention rates. 

5.) The Significant cost reduction advantage!

Making smart and cost-saving decisions will always be on top of the list with companies that want to grow in a financially sustainable manner. CRMs help large enterprise businesses significantly cut down on customer support costs. In addition to reduced help desk costs, CRMs also facilitate low-cost lead generation with higher conversion rates. Since the customer management systems or software are only a one-time investment. From cutting down on infrastructure costs to reducing lead generation costs CRMs like Kapture not only handle numerous enterprise operations for very low costs but also do it very efficiently.

Important CRM statistic you should know

  • 39% of business leaders say that a high-quality customer experience provides an advantage over the competition, which can be accomplished through CRM seamlessly. (Source – Impact, 2020)
  • CRM helps companies retain customers as 65% of most companies’ revenue comes from loyal consumers. (Source – Fundera, 2019)
  • CRM systems can enhance sales team productivity by 34%. (Source – Hubspot, 2019)
  • CRM can boost conversion rates by 300%. (Source – Hubspot, 2019)
  • Big brands use CRM to provide a personalized customer experience, increase engagement with existing customers, and resolve customer issues before they escalate into a more serious problem. (Source – Expert Market, 2021)
  • With regard to work performance, mobile CRM enhances employees’ productivity by 15%. (Source – ForceManager, 2019)
  • Companies with CRM have increased their sales forecast by 42%. (Source – VARStreet, 2020)
  • CRM solutions are now being integrated and consolidated into bigger product ecosystems for a seamless workflow. (Source – PCMag, 2020)

Conclusion 

As per a 2020 report by VAR Street businesses that have a customer relationship management system have increased their sales numbers by 42%. CRM for large business not only increase overall operational productivity levels but also increase profitability which helps businesses grow. Investing in the right CRM can not only help Fortune 500 companies but can even help Unicorns and Startups to function effectively and productively. 

About the Author

Nimit Kumar
Namitha RV
Namitha R V is a freelance content writer and copywriter whose primary focus leans on B2B and B2C content writing. She has worked on several SEO projects and has a demonstrated history of writing for diverse content requirements like – Long form blog posts, Optimized Website content, Infographics, Ad copies, Social Media content, etc.

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