How Important is CRM Today?

When you take a look at the list of things that go into running a business successfully, the importance of customer relationship management (CRM) software becomes clear. Indeed, the question here “How important is CRM? Is it difficult to do business successfully without CRM?”

Some say that the money is in the list, and it’s true especially for B2B services. Whether you sell aircraft parts, semiconductor equipment, or apparel, you need to be able to efficiently manage information about your customers. means collecting contact details carefully and keeping them up to date. As your customer go bigger, you need to be able to segment it and control information within that segment. The sales pipeline reports needed by senior management are best generated from data organized in a way that allows for quick analysis of the progress of the sales cycle on each lead.

Yes, Customer Relationship Management is important due to maximizing sales opportunities while managing expenses. But more importantly, best crm software can help reduce employee turnover, as great companies put their people first and give them all the tools to focus on. do what they do best: sell! What is the importance is a good profit? It definitely does justice to staying in business! Turnover costs money, not only in lost productivity, but also in hiring and training costs.

Extensive research shows that CRM implementation can increase employee productivity by up to 25%! Yes, you read that right: 25%.

When a company implements an efficient customer relationship management solution, it not only enables its employees to do their jobs better (and happier), but also provides a mechanism that facilitates communication between departments and them from themselves repetitive, highly specialized tasks liberate tasks: increasing overall efficiency. How important is that? Very

How can I improve customer satisfaction now?

Many companies already collect enough information about their customers because it gives them an idea of ​​how they can improve products or services. Others may have implemented some of the newer and lesser-known forms of CRM. However, if you’re not using a software solution to manage your customer profiles and interactions, there’s a good chance your business is doing better than it is right now at maximizing sales opportunities while controlling costs. And remember: Both are essential for survival!

So how do you justify the cost of implementing CRM software? Let’s take a look…

If you ask how much profit most people make from their marketing campaign, they usually say “I don’t know”. This is where CRM comes in: Once you have accurate information about the customers who bought from your campaign, reporting on profitability and ROI is a breeze. Let’s say you spent $2,000 on an ad on Facebook and made 50 sales totaling $25,000. This campaign generated a 48% margin or $12,000. How important is that? A lot of! Or if your company’s total spend is very close to revenue (sales revenue vs. spend), you can use the CRM report data to see which marketing channels provide the best return on investment (ROI). Compare each channel’s profit to its cost and create a list of winners and losers to guide future campaigns accordingly.

How can I save money?

With soaring customer service costs across many industries, there is no better time than now to justify a CRM implementation. This is because customer service costs have increased while employee turnover rates have also doubled in five years!

Paying more for less adds up to a lot of unnecessary costs and expenses, especially if you’re not using CRM to manage your customers and keep them return to you.

How can you help reduce your costs? Take this example: A company spends $75 a month calling customers to report problems or errors with their orders. They also spend 20 hours a week updating customer profiles manually or using a spreadsheet. If the company had gone paperless 10 years ago, it would have saved between $1,500 and $3,000 a month…not to mention the thousands of dollars in hiring costs it would have to pay. have saved on new hires!

CRM Solutions is on rising demands in The Middle East

crm software in middle east has a big demand in the last two years, The UAE led the way with growth of 50% though they start from a low base.

CRM projects rarely got good press, and with good reason. Projects were notoriously large, expensive and then not delivered. A 2002 McKinsey study found that 60 percent of projects failed to meet expectations.

About 80 percent of the CRM projects did not contribute in any way to the economic performance. Most of the projects missed deadlines, cost overruns of 200 to 300 percent were not uncommon.

The Middle East, lagging behind the investment curve, could sit back and watch as its American and European counterparts struggle to dominate the technology. Judging by the investment figures published in Gulf News, the new strategy was cautious.

Investments in the region have so far been tiny. According to Sage, the world’s third-largest ERP and CRM provider, it was just $10 million in the UAE last year and around $20 million in the region as a whole. This corresponds to only 15 percent of the total investment in business software in the region. However, usage is increasing. By 2010, the market is expected to be worth $40 million, growing at 20 percent annually, while ERP spending will only grow 10 percent.

The market has so far been dominated by the United Arab Emirates, which accounts for 50 percent of total investments.

Dubai, the commercial center of the UAE, is an increasingly open and competitive environment, which explains why the country is seeing an ever-growing demand for this technology.

“Everyone agrees that the United Arab Emirates is booming,” says Shishir Srivastava, CEO of Sage Software Middle East.

“But what happens in a growing market is that more and more companies get involved. This has created a lot of competition for medium-sized companies with 50 to 500 employees. These companies are the most under pressure and need to perform much better with sales attract new customers and retain more to existing customers and sell much lower investment price This is a cautious market and we have solutions in the $100 to $2,000 range. This allows companies to see the potential return on investment before they move up a notch.”

CRM vendors in the UAE include, but are not limited to, Sage, Oracle, SAP, Avaya and Altitude.