Customer relationship management (CRM) should be one of the top priorities of every business. Your customers are, after all, the biggest asset to your business and the biggest driver of your overall success. Effectively managing your customer relationships, therefore, is key. CRM software can help you gain control of the customer relationship management process and develop long-term relationships with your customers.
While CRM has not always been thought of as a necessity, recent research has shown an influx in business interest for customer relationship management (CRM) products. In fact, according to Markets and Markets’ recent Customer Relationship Management (CRM) Market & Social CRM study, the CRM market is expected to reach more than $24 billion in revenue by 2018. If you look back at the market 5 years ago, that is significant growth!
Today’s companies are now using CRM tools to generate leads, initiate and monitor customer interactions, and create brand awareness online. Advancements in social media have served to streamline communication between businesses and their customers, making it easier to respond to customer inquiries and complaints as well as monitor and measure important metrics and customer behavior.
Researchers attribute the growth of the CRM market in part due to the vast popularity of social media. Consumers are interacting with businesses on social media more frequently, and – in order to successfully meet customers’ needs – businesses must meet customers in the social sphere. Social CRM provides businesses with the tools to not only connect with customers via social media, but it also enables businesses to monitor social interactions and measure important customer data. By combining traditional business intelligence tools with social media and CRM tools, social CRM provides companies with the opportunity to increase communication and become a trusted voice in the industry.
Without a CRM system, you are managing blindly. With CRM, you have the data and insight you need to make the right decisions when it comes to fostering your customer relationships. If you’re in the market for CRM software, contact us today. We sell and support Sage CRM, an award-winning customer relationship management solution designed to take all of your customer relationships to the next level. Click here to see how Sage CRM can help your business create lasting relationships.