Steps to use CRM applications for organizational cost reduction

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Steps to Use CRM Applications for
Organizational Cost Reduction
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1) Reducing Cost of Customer Acquisition
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Measuring ROI
In most cases, companies would find it difficult
to find their ROI in each of the media of
campaign. Now with a CRM solution, all the
efforts can be aligned with the main objective of
the company rather than broken experiences
generating valuable customer exchanges.
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Picking out the highest ROI media and efforts
Marketing, especially in the digital media has
become a set of fast iterations. It typically
means that the incremental cost of launching a
new campaign is not much in comparison to the
traditional marketing means. Testing and
re-testing is the key to success. With multiple
media touch-points and multiple teams
collaborating to create common communication,
your CRM software solution will provide you the
analytics and ?dashboard will help that easily
weed out the efforts which are not giving you
satisfactory results.
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Lead Nurturing
The lead potential is nurtured, keeping the
overall picture in mind. The CRM software
solution precisely knows
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Where the lead has been generated
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The touch-points they have already interacted
with
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The complaints generated by them and each of
their status
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With increased channels of interaction, the
experience is not diluted as the communication
remains uniform throughout
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2) Sales Operational Cost Reduction
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All-in-one platform for overall sales efforts
With all the customer information in one window,
a 360-degree view of customer information is
available at the fingertips of the
customer-facing teams and save time.
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Streamlining the sales process
A CRM application enables the sales team to work
coherently using the dashboard and analytics to
track new leads, schedule a date and time to
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Generate New Leads
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Schedule Appointments
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Plan Follow-ups
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Manage Commercials
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Set Reminders and Prospect Mapping
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Duplication of records removed
Each and every customer data is unified in a
Custom CRM solution. Duplication of records leads
to each customer being contacted by multiple
sales representative resulting in effort loss and
customer attrition.
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3) Service Cost Optimization
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Self-Service Customer Portal
A self-service portal (SSP) is a strategic move
towards reducing the service expenditure and at
the same time ensuring quicker issue resolution
in a fully automated procedure in sync with the
back-end of the system. In addition to
traditional touch points across channels such as
customer care services, this can be a great way
of instant responsive SLA committed response.
?The following are the benefits to the company
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Reduce Human Interaction
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Reduce Administrative Cost
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Reduce Customer Service Costs
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Proper reporting across hierarchies and
involved functions
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4) Scalability
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• CRM application forms the major backbone for the
  scaling up of small and medium-size businesses.
  It is customizable for operations of scale.

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• CRM solutions are designed keeping in mind the
  need to keep cost minimum at any given point. In
  fact, as the business scales up, your CRM
  integration will help you identify key areas
  where you might be losing money.

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• No need for technical knowledge or coding for the
  changing business needs making the system robust
  for any kind of change.

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5) Reducing Administrative Costs
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• Reducing the need for MIS Tools and human
  resources earlier required to create reports can
  be done away with now with automated AI drove
  processes within your Custom CRM Development
  Solution.

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• Printing of reports has become a redundant
  exercise, how minute it may sound, actually
  reduces a lot of admin hassles and cost reduction
  by the process.

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• Sales, service, and marketing are more brought
  in-line with company objectives often reducing
  duplication of roles in the process, making the
  organization horizontal in approach.

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6) Improve Tracking Mechanism
CRM application enabled tracking the operations
is the first step towards cost optimization.
Accountability of operations increases leading to
lower overheads. Instances of tracking can be
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Sales teams tracking their lead status
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Marketing team tracking conversion ratios
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Service team can track FTRs and CSAT scores etc
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Finance team tracking ROIs
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