Insights

What is a CRM and why does it matter for your business?

A CRM (Customer Relationship Management) is a company-wide business strategy with a core philosophy: Put the customer first.

It is designed to enhance efficiency, reduce costs, increase customer loyalty and ultimately revenues and profitability.

Apparently, customers are important as no business exists without its customer base. Therefore, the way a company manages its customer database determines its business success.

A CRM system brings together all the information from different departments of the company providing a holistic view of each customer in real time.

As such, the majority of businesses that consider adopting a CRM system, are looking for a way to improve their core business processes -the quality and consistency of their relationships with customers and build customer loyalty.

This allows customer-facing employees in areas such as sales, marketing and customer support to make quick and informed decisions on everything from up-selling and cross-selling, to improving the quality of customer communication and responsiveness, while coordinating the management of sales and marketing campaigns.

For example, you might use CRM software to capture a new inquiry from your website which initiates an automated sales process. The inquiry could trigger the creation of a new lead in the system, create a task for sales to follow up, and send the contact an automated welcome message.

With visibility and easy access to data, it is easier to collaborate and increase productivity. Everyone in your company can see how customers are being communicated, what they have bought, when they last purchased, what they paid, and so much more. CRM can help companies of all sizes drive business growth, and it can be especially beneficial to a small business, where teams often need to find ways to do more with less.

The software can also include integrations to other apps and channels, such as your digital marketing and accounting software or other business apps, such as document signing, accounting and billing, and surveys, so that information flows both ways in order to give you a true 360-degree view of your customer.

What are the main advantages of a CRM system?

Facilitates and enhances contact management
Amplifies customer retention and satisfaction
Improves sales management
Increases efficiency and productivity
Fosters organization and team collaboration
Ensures accuracy of reporting
Increases lead conversions
Boosts business growth

CRM Evolution

Over the years, CRM platforms have evolved from a complicated non-customizable system that offers no insights into how customers interact with your company’s owned media (website, social accounts), into a cloud-based system that offers cost-effectiveness and scalability, automated software updates, faster deployment, increased collaboration and the ability to have access to the system from anywhere, on any device.

Companies often come to Repath looking for a way to improve their internal processes, effectively capture new leads, nurture them and enhance customer loyalty. We work with them in order to understand their needs and desires and help them build a tailor made solution for their companies.

Take a look at our case study for our client, My Greek Friend, who experienced a 72% decrease in leads management time and a surprising 89% decrease of monthly payroll expenses in less than 2 months.

Repath offers modern CRM and Marketing Automation solutions that support the workflows of all companies’ sizes -from small and medium enterprises with simple procedures to large enterprises with complex workflows and multiple departments.