the various aspects of CRM for small business, how organizations can benefit from it. In the simplest of forms, CRM is an Information Technology (hereafter referred to as IT) enabled tool that helps organizations manage their sales and marketing functions effectively and efficiently.
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According to Pareto’s principle of Business Processes, 20% customers will amount for 80% of the organization’s revenue.CRM for small business helps them to focus and maximize the returns from these 20% high value customers and optimize the resources spent on the remaining 80%.
With the ever expanding scale of business operations, scalability and managing multiple business relationships in convenient time frames is a challenge for marketing professionals. CRM is a one-stop solution for all Operational, Analytical and Business needs. CRM operates on a real-time synchronized platform aimed at addressing day-to-day operations of Marketing, Sales, Services and Customer Relations seamlessly.
Traditionally, CRM has three focus areas, Operational, Analytical and Collaborative.
- Operational CRM
This layer of CRM is the base for all transactions recorded in the system. Whether your business delegates are traveling to Australia, New Zealand or are in your parent location, they can access, record and reflect on key customer data at one click using the power of CRM.
- Collaborative CRM
This mode of CRM records and accounts for communications between customers, sales personnel, suppliers, and all stake holders. It acts as the backbone of marketing and business communication network within the CRM framework. Collaborative CRM is in essence of the communication layer across the dynamic ecosystem of business communication.
- Analytical CRM
It is the nerve cell of the CRM ecosystem. The modules in this layer are responsible for churning the vital data provided by Operational and Collaborative CRM modules and assisting the top management in taking educated business decisions relating to marketing and sales functions.
The inputs from these functions acts as a stream of continuous information for educated Business decisions thereby translating into 360o view of customer, market and industry conditions. The configurable monitoring mechanisms like Dashboard, Product Views, Sales Pipeline Views, Forecasting Views, etc. can help the Top Management in monitoring the ‘Business Health’ of the organization. CRM is thus an effective aide for managing and optimizing sales and marketing activities for leveraging customer satisfaction and business activities in general.