CRM Data is a Customer Satisfaction Goldmine
Customer Relationship Management (CRM) software has developed a bad rap in companies due to “waste” and “inefficiency”.
Gartner projects that through 2015, 85% of Fortune 500 companies will fail to utilize big data for competitive advantage. That’s because they feel gathering this data has caused concerns including: volume of data, dark data, duplicate data, and incorrect data. None of these obstacles come as a big surprise, but many large organizations lack the manpower to set time aside to work on these valuable information.
Yet companies who don’t rely on CRM are only seeing things one-sided. Granted, this work is time consuming, though your customers can suffer from poor data management when interacting with reps from your company. Such instances like service mistakes and unfulfilled request can hurt customer retention and referral.
CRM is about the customer-business relationship, and that means maintaining existing relationships as well as forming new ones. With the right strategy, CRM can help your company make the most out of the relationships you already have, using the data you already have, as well as creating new relationships with the help of the relationships your already have.
There are many tactics to go about data mining, entering, and up-keeping, and CRM, when done right, can keep customers satisfied for a very long time.
