Whatever business you are involved in and the industry you belong to, there is no denying the fact that the customer is the lifeblood of your business. Relationships with customers decide the success of your business. CRM or Customer relationship management refers to the strategy adopted by the organizations to manage their interactions with customers.
From its dependency on handwritten notes and Rolodexes, CRM has come a long way. Modern-day CRM software has revolutionized the way businesses connect with their customers. They bring together all the data regarding a customer in a single location. With this data, the employees in sales, marketing, or customer support can improve the quality of customer interaction and provide personalized services to customers.
Benefits of having CRM software
- Organize client information
CRM software organizes all the documents, communication, purchase history, quotes, etc. associated with your clients in a single location from where your agents can access it anytime.
- Make informed decisions
With the right information at the right time, the agents can make informed decisions and provide better services for the customers. For example, if you are a real estate agent and your customer is looking for a property in a particular location at a particular budget, you need to send them only those deals that are relevant to them.
- Automated tasks
Automate repetitive tasks to get more work done with less effort. You can set automated task reminders, schedule recurring messages, conduct drip campaigns, etc. through a CRM app.
- Better time management
Organizing information and automating repetitive tasks helps you efficiently manage time and increase overall productivity.
- Track a lead
By collecting all the data related to the clients, you can understand the client’s behavior better. From the moment you connect with a lead till it is successfully converted (or sometimes rejected), track a lead as it goes through each stage of the process.
- Track dynamic data
With CRM software, you can track complex dynamic data like the emails/texts that your clients have opened or responded to, their last purchase, etc.
- Better sales/conversion rate and customer engagement
By understanding customer behavior and analyzing all the data available, you can provide personalized services to clients. Studies have time and again proven that personalized services make your customers choose your brand over that of your competitors.
Key factors to consider while buying CRM software:
With a multitude of software available on the market, it is easy to be led astray. Before you implement CRM software in your organization, make sure that it is:
- User-friendly
Make sure that the software that you adopt has an easy-to-use interface and provides a great user experience. Any tool with a steep learning curve will drain your time and resources.
- Scalable
It is important that the system you adopt is scalable to meet the requirements of your business as it grows.
- Customizable
Every business has its own unique requirements. An ideal CRM software should be customizable to accommodate your requirements- be it in the form of additional modules or automating repetitive tasks.
- Easy to integrate
All businesses these days use many different apps to support their workflow. Ensure that your CRM software lets you integrate these apps on a single platform.
While looking for desirable factors, be sure that you avoid these common pitfalls:
- Not identifying the exact purpose and users
Before making the final decision, make an evaluation of all the different users and their specific needs. The service that you opt for should accurately address your problem. If you are looking for a tool to track leads, make it the top priority, and don’t be misled by other interesting features that might be of little use for your business.
- Not identifying the resource requirements
Identify the skill sets that your technical staff should possess to resolve any issues that may arise or go for a cloud-based system where the providers take care of all the resource requirements to maintain the system.
Importance of Industry-Specific Software
Industry-specific software provides you with solutions to manage your workflow much more efficiently than a generic one. As opposed to platforms that are generic in nature, industry-specific software has many advantages.
- They include specific modules and functionality required for your industry. The service providers will have deep domain knowledge and can provide specific solutions that align with your needs.
- You will get all the required features pre-built into your system and wouldn’t need extensive customization when you opt for industry specific software.
- Your providers will be experts in the domain who are aware of all the best practices that can make your business processes more effective.
- It will be much easier to communicate with the developers and the support team who can understand your most intricate needs.
- These experts will be able to anticipate issues that may arise and address them quickly.
- Your software provider will be well aware of all the recent developments in the industry and the system will be regularly updated by them.
The result is an all-encompassing solution with a lower implementation and maintenance cost than generic software.
Partnering with the right service providers is crucial when looking for the right CRM. It will help you save time, effort and resources. With more than a decade’s experience in the fintech industry, iocod can offer you focused, industry-specific solutions for the financial sector. Track and manage your leads effectively and increase your conversion rate with this amazing cloud-based tool. Some interesting features of our CRM are listed below:
- From the moment you find a lead, every activity like collecting/verifying documents, rolling out offers, etc. can be tracked and recorded on the system.
- Dashboard tabs can be customized as per your preference. You can customize your dashboard to add any new item that can help you manage your leads better.
- At any stage of the lead-tracking, you can call/ text, or send emails directly from the system. All these mails and other interactions will be tracked by the system for your future reference.
- Allows seamless API integration.
- Assign role-based permission to every agent/user. The admin can track all the activities of the agents and allow them role-based permissions.
- Apart from saving the documents in PDF format, you can extract data from these documents and organize them in lists from where you can access the information more easily.
Contact us on info@iocod.com for more details about the features of this incredible tool designed for the finance industry.
When it comes to solutions for the financial sector, iocod is next to none. Keep track of your leads, provide them with a personalized experience and build great relationships with your customers using our CRM tool. Take your business to the next level with this amazing platform that enables seamless customer relationship management. Contact us on info@iocod.com to know more.