{"id":1555,"date":"2018-05-21T10:43:47","date_gmt":"2018-05-21T10:43:47","guid":{"rendered":"http:\/\/crmtiger.com\/blog\/?p=1555"},"modified":"2024-06-14T11:04:59","modified_gmt":"2024-06-14T11:04:59","slug":"crm-system-4-reasons-why-its-your-most-valuable-asset","status":"publish","type":"post","link":"https:\/\/crmtiger.com\/blog\/crm-system-4-reasons-why-its-your-most-valuable-asset\/","title":{"rendered":"4 Reasons Why It\u2019s Your CRM System Most Valuable Asset!"},"content":{"rendered":"<p>A topic I like to discuss with managers I meet, is what they think is the most valuable asset in their business.<br \/>\n<!--more--><br \/>\n<span style=\"font-weight: 400;\">Post Summary:<\/span><\/p>\n<ul style=\"list-style-type: none;\">\n<li><strong><img decoding=\"async\" src=\"http:\/\/crmtiger.com\/blog\/wp-content\/uploads\/2017\/02\/check.png\" alt=\"\" \/><\/strong> What is your most valuable asset?<\/li>\n<li><strong><img decoding=\"async\" src=\"http:\/\/crmtiger.com\/blog\/wp-content\/uploads\/2017\/02\/check.png\" alt=\"\" \/><\/strong> Keep a Good Overview of Your Customers<\/li>\n<li><strong><img decoding=\"async\" src=\"http:\/\/crmtiger.com\/blog\/wp-content\/uploads\/2017\/02\/check.png\" alt=\"\" \/><\/strong> The business value of a CRM system<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">I get all kind of answers, depending on their industry, and what state their business is in.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Hotel owners and shop owners often say \u201clocation, location, location\u201d.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Managers in the IT business tend to focus on the new, hot products or their partnerships.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Managers from the consulting business mention that their employee\u2019s brains are the most valuable. Others emphasize trademarks and brands. A great management team, dedicated staff and sales starts is also on the list.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The one thing all of these answers have in common is this:<\/span><\/p>\n<p><span style=\"font-weight: 400;\">All of these are aimed towards getting more customers. Customers are important to businesses \u2013 they pay bills and salaries. So why is it, that customers often say they feel neglected by their suppliers?<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Customers stop being customers for many reasons. They move to another location, they go out of business, or they go to a competing company. These reasons count for 34% of customer loss. The remaining 66 % leave for another reason \u2013 they just feel ignored when interacting with some companies. Luckily, we can do something about this.<\/span><\/p>\n<h5 style=\"color: #00acef;\"><span style=\"text-decoration: underline;\"><strong>Keep a Good Overview of Your Customers<\/strong><\/span><\/h5>\n<p><span style=\"font-weight: 400;\">Many companies use spreadsheets for storing their customer data, and I keep asking myself why?<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Spreadsheets get lost, they become outdated, and they might fall into the wrong hands. Business cards are important for collecting customer data. But not when lying on your desk. These customer strategies miss something important \u2013 collaboration.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">A customer database increases in value when everyone works together on populating it with data.<br \/>\n<\/span><\/p>\n<p><span style=\"font-weight: 400;\">I recently heard a great story from one of my customers, Sales Director Eiliv M. Liljevik at Making Waves. As a co-founder, he is passionate about growing their business. Making Waves started out with 14 employees, and now have more than 300 employees. This is a great development, and without a proper CRM solution it would have been difficult.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Since they started in 2001, he has demanded that all employees register every customer along the way. One of his key points is that any customer or contact should be registered in their central CRM database, with the email as the top field to remember, being the key to their customer and lead nurturing strategies.<\/span><\/p>\n<h5 style=\"color: #00acef;\"><span style=\"text-decoration: underline;\"><strong>The value of a CRM system<\/strong><\/span><\/h5>\n<p><span style=\"font-weight: 400;\">Here are 4 reasons why a CRM system can be your greatest asset.<\/span><\/p>\n<h5 style=\"color: #00acef;\"><span style=\"text-decoration: underline;\"><strong>1. It allows you to register your leads and contacts<\/strong><\/span><\/h5>\n<p><span style=\"font-weight: 400;\">You never know when a lead is ready to buy from you. Probably not today anyway. Keep them warm.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">It is never too late to start organizing your customers and contacts. You need some basic categories to make your data efficient so that you can implement your CRM strategy to fulfill their needs.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">You need categories like Customers, Lost Customers, Prospects, Suppliers, Partners, Potential Partners, Influencers and Inactive Customers.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">You could also consider dividing customers into A-, B- and C-customers depending on different customer retention programs for each segment. So you might get rid of your complex spreadsheets once and for all.<\/span><\/p>\n<h5 style=\"color: #00acef;\"><span style=\"text-decoration: underline;\"><strong>2. You can track all customer interactions \u2013 from everyone in your company.<\/strong><\/span><\/h5>\n<p><span style=\"font-weight: 400;\">Next time you talk to a customer or prospect, you get the upper hand when you know what that company is talking about. You can get the person to feel seen and important. And this history builds a long-term relationship. Emails should be in your system, and not in each person\u2019s mailbox.<\/span><\/p>\n<h5 style=\"color: #00acef;\"><span style=\"text-decoration: underline;\"><strong>3. It reveals possibilities:<\/strong><\/span><\/h5>\n<p><span style=\"font-weight: 400;\">How many prospects have you \u201cnot sold to\u201d yet?<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Most likely a lot. I usually tell my sales team that a \u201cno\u201d most likely means \u201cnot today\u201d. Most companies keep their current supplier until they are ignored. That\u2019s why keeping them alive and kicking in your CRM database is so important. And if you have an effective email marketing strategy or a great seminar plan, their business might be yours for the next quarter.<\/span><\/p>\n<h5 style=\"color: #00acef;\"><span style=\"text-decoration: underline;\"><strong>4. It makes your most valuable asset \u2013 the customer data \u2013 remain:<\/strong><\/span><\/h5>\n<p><span style=\"font-weight: 400;\">People change jobs. Have you ever experienced someone leaving you, and nothing is left behind?<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The sales pipeline wasn\u2019t up to date. The contacts wasn\u2019t updated. The important contacts wasn\u2019t registered \u2013 because all relevant information was stored locally. Don\u2019t let it happen to you.<\/span><\/p>\n<h5 style=\"color: #00acef;\"><span style=\"text-decoration: underline;\"><strong>Conclusion:<\/strong><\/span><\/h5>\n<p><span style=\"font-weight: 400;\">Without a CRM system, it\u2019s difficult to focus on the customer.<\/span><br \/>\n<span style=\"font-weight: 400;\">But, companies that invest in CRM are using its value to put the customer at the heart of their business, which is the fastest way to increase sales and profits. Hopefully, these 4 reasons above help you realize that CRM is no longer optional, but a must-have for your business.<\/span><br \/>\n<span style=\"font-weight: 400;\">Do you use a CRM system to manage your contacts and customer data?<\/span><br \/>\n<span style=\"font-weight: 400;\">If you\u2019re looking to get started with CRM system,<\/span><\/p>\n<p><span style=\"font-weight: 400;\"><strong>Hope you found this blog useful.<\/strong><\/span><br \/>\n<span style=\"font-weight: 400;\"><strong>Please contact us on <a href=\"mailto:info@crmtiger.com\">info@crmtiger.com<\/a> if you needed further help from us.<\/strong><\/span><br \/>\n<a href=\"https:\/\/crmtiger.com\/contact-us.html?utm_source=blog-nm&amp;utm_medium=crmtiger-nm&amp;utm_campaign=del-module-vtiger-nm\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" width=\"650\" height=\"160\" class=\"alignnone size-medium wp-image-2316\" src=\"https:\/\/crmtiger.com\/blog\/wp-content\/uploads\/2020\/11\/CRMTiger.jpg\" alt=\"\" srcset=\"https:\/\/crmtiger.com\/blog\/wp-content\/uploads\/2020\/11\/CRMTiger.jpg 650w, https:\/\/crmtiger.com\/blog\/wp-content\/uploads\/2020\/11\/CRMTiger-300x74.jpg 300w\" sizes=\"auto, (max-width: 650px) 100vw, 650px\" \/><\/a><\/p>\n<div class=\"more-info\">\n<p><strong style=\"color: #00acef;\">Do You Need More Information ?<\/strong><\/p>\n<p style=\"color: #000000; font-size: 11pt;\">For any further information \/ query regarding Technology, please email us at <a href=\"mailto:info@crmtiger.com\">info@crmtiger.com<\/a><br \/>\nOR call us on <span style=\"color: #00acef; font-size: 12pt;\">+1 630 861 8263<\/span>, Alternately you can request for information by filling up <a href=\"http:\/\/crmtiger.com\/contact-us.html\">Contact Us<\/a><\/p>\n<p>&nbsp;<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>A topic I like to discuss with managers I meet, is what they think is the most valuable asset in their business.<\/p>\n","protected":false},"author":1,"featured_media":1562,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1555","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-knowledge"],"_links":{"self":[{"href":"https:\/\/crmtiger.com\/blog\/wp-json\/wp\/v2\/posts\/1555","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/crmtiger.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crmtiger.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crmtiger.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/crmtiger.com\/blog\/wp-json\/wp\/v2\/comments?post=1555"}],"version-history":[{"count":6,"href":"https:\/\/crmtiger.com\/blog\/wp-json\/wp\/v2\/posts\/1555\/revisions"}],"predecessor-version":[{"id":3652,"href":"https:\/\/crmtiger.com\/blog\/wp-json\/wp\/v2\/posts\/1555\/revisions\/3652"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crmtiger.com\/blog\/wp-json\/wp\/v2\/media\/1562"}],"wp:attachment":[{"href":"https:\/\/crmtiger.com\/blog\/wp-json\/wp\/v2\/media?parent=1555"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crmtiger.com\/blog\/wp-json\/wp\/v2\/categories?post=1555"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crmtiger.com\/blog\/wp-json\/wp\/v2\/tags?post=1555"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}