CRM Case Analysis

CRM Case Analysis

Executive Summary

Customer Relationship Management (CRM) software is helping millions of businesses around the world in improving the relationship with the clients and thus improving sales of the company. The technology aids organizations in organizing the clients’ information in a transparent manner that can be used in managing the relationships with both the current and prospective customers. The right implementation of CRM at B2BA USA will allow the organization to compete with other large companies in the service industry by increasing organization and customer relations. As opportunities to grow present themselves, B2BA USA must look at how it can take advantage of these chances to enhance its performance. This case analysis will evaluate the need to implement the CRM software at B2B USA and how it can help the organization in increasing the relationship with the customers and market growth.

Introduction

Every business is always looking for a way that they can keep track of the client and manage it in a manner that it offers the organization key information required in making strategic business decisions. It thus indicates that managing relationships may be an essential part of running any business. B2BA USA has been witnessing a growth in its client base, and thus it seeks to implement and execute the use of customer relationship management (CRM) software that will enable it to develop a relationship with both prospects and existing customer base. A CRM system will prove to be beneficial to B2BA USA because of its several features that manage the customers’ data and offer clarity on contacts and transaction information essential for building a long-term relationship with the customers while enhancing productivity. However, the right implementation of the right systems will offer B2BA USA the desired benefits. Therefore, it is essential to determine the benefits of CRM that B2BA USA will enjoy after establishing the best CRM system to use and overcoming the barriers of implementation with the right mentality on the staff and not the technology.

Major Benefits of CRM

Information Organization

Information is one of the most valuable assets in any organization because it is the key to determining what the clients want and how to meet their needs by using the right information in making critical decisions (Tahmasebifard 2018). A CRM system will allow B2BA USA to have a clear insight into their information and allowing the company to identify, document, and record every information about the customers and the business. A CRM system will be a technological addition to the organization integrated into the information systems to enable the company to become innovative in the ways it handles the customers’ information. Amazon is one of the companies that have used the CRM software, and this has seen the company retain its customer base and tailor its services around individual customers (Chakrawarty 2017). The use of the CRM can thus help organize its customers’ data to tailor their services in meeting the personalized of consumers.

Enhanced Customer Service and Relationships

Properly organized information about the customer allows an organization to understand its consumer base well, and this enables the company to develop a personalized relationship with the customers. One of the key features that companies seek when implementing CRM is to enhance customer satisfaction. As evident in the figure below, improved customer service and satisfaction are the leading factors that organizations look to benefit from when using CRM.

Improved customer service and satisfaction are the key reasons why an organization can establish brand loyalty and achieve a competitive advantage (Collett Miles, 2013). It then translates to the fact that using CRM allows companies to understand their customers well and deliver high-quality customer service to the prospect and existing clients leading to effective value change management.

Increased Sales and Profitability

A CRM system can also increase sales and profitability by presenting the company with clear opportunities in the market that can increase the overall performance of the organization. One of the ways that CRM increases the sales of a company is through higher sales conversation rates. When the employees have greater access to details about potential and present customers, they develop a better ability to meet the growing and the changing needs of the clients (Rodriguez, Peterson and Krishnan 2018). The CRM system allows the company to use its resources by showcasing the important customers, vulnerable clients, and internal weaknesses within the organization (Venturini and Benito 2015). In turn, by focusing on these factors, an organization can streamline its marketing and sales functions to increase revenues.

The 5 Best CRM Systems

CRM has been gaining significance in the business world, and it is among the largest software that organizations use in making strategic and financial decisions. CRM is expected to continue to grow in the coming years with a targeted forecast of hitting the 40.26 billion US dollars by the year 2023, with a compound annual growth rate of 2.8% (Liu 2020). It is thus essential to identify the best CRM systems that continuously prove to be necessities for successful organizations. Salesforce

Salesforce currently conducts business with over 150,000, and it has been regarded as one of the most efficient because it is cloud-based and customizable. This then means that it allows the company to access the data from anywhere and alter it to meet the specific needs of an organization. Some of the key features include:

• Einstein analytic
• Sales cloud
• Salesforce One Community cloud

Microsoft Dynamics 365

The strongest feature of Microsoft Dynamics 365 is to remove silos and enhance customer relations along with operational functions. This is a system that is most efficient for big businesses because it allows the business to connect its fundamental parts hence allowing collaboration between the staff and clients regardless of their location. The software is modern, intelligent, adaptive.

Keap

This is a CRM software that has been in business for the last 18 years, and it has aimed to help small businesses be well-organized by simplifying growth for millions of businesses. Keap helps organizations in organizing customer information clearly and straightforwardly that can be used in managing daily work from one place.

HubSpot

The primary thing that sets HubSpot apart from other CRM software is the free access to the system it offers to businesses. HubSpot offers up to 1 million empty slots for contacts, and allows unlimited users to the system, and has no time limit to the free access. HubSpot is also integrated with services hubs within its system, sales, and marketing functions.

FreshSales

This is a CRM system offering a great lead with its incorporation with the Outlook system for proper contact management and access to clients’ email addresses. The system offers businesses a complete customer view to discover leads and customizable clients’ reports for easy analysis and forecast of sales. FreshSales’ efficiency is evident in its capacity to be integrated with systems like Outlook, Google Calendar, and QuickBooks.

The Five Major Reasons for CRM Implementation Failures

Treating CRM as Simply Another Technology

CRM is not just another technology that one integrates into their system and expects the whole organizational process will improve. At the same time, CRM is not a technology that will automatically increase cells in any company. CRM is a technology that helps businesses enhance their customer relationship abilities. The focus, therefore, should be on how to utilize customer data to improve business’ relationships with the customer.

Lack of Commitment

The entire organization needs to be in unison with the implementation of the system for it to experience the benefits of the software. A successful change starts with considering how the change will affect every person in the organization and the communicating effectively and offer the training necessary to accept the change. Therefore, sometimes CRM implementation fails because people are not encouraged to commit to the use of the software.

Implementing the System Without A Clear Perspective of Growth

Businesses use CRM systems because they need to grow by identifying how to improve their customer relations. However, this is not possible if the company is not aware of how they can tap into the benefits of CRM systems to align with their objectives of growth. The growth should be customer-driven, and the company must figure out how to use customer information to meet the needs of the changing market.

Using CRM to Only Benefit the Company

The primary purpose of using CRM is to improve a business’s relationship with the customer, and this means that this should be the underlying reason why an organization purchases the CRM software. CRM should not be used for any other purpose but to get key information about the customers for analysis to ensure that there is an improvement in the levels of consumer satisfaction. It is this that will enable a company to witness an increase in efficiency, sales, and productivity.

Using Too Many Customization Tools on CRM

Many CRM systems come with the option of allowing the users to customize it to meet their business model and objectives. Though these customizations are a chance for businesses to personalize the system to meet their internal needs, extreme customization will affect the ability of the CRM tool to function optimally. The CRM systems have already been made with the fundamental features of improving the relationship between the business and its customers, and thus customization should only be on what is mandatory.

Implementation is About People Not Technology

There is always a need to realize that it is not the technology that runs the organization but people. It is people who manipulate the technology to offer the required information that can be used for analysis or decision-making. Therefore, the implementation of CRM should focus on how people will respond to technology and guide them through training on how they can use the technology to develop and maintain the relationship with the customers. Customer relationship management is a practice that can be performed without the use of the CRM software, and this means that CRM is not dependent on technology but people. In consideration implementation of CRM, the management must acknowledge that this is a tool that should be used to complement human abilities and not replace them. This is because it is the people who will use the tool to manage data and create a relationship with the customers. Therefore, the change process should focus on people and not on technology.

Conclusion

It is the customers that drive the business forward, and any decision that an organization makes should always focus on how to ensure that there is customer satisfaction. Technology has always been a useful tool in helping businesses connect with the market. One of the tools that have been effective in achieving this is the CRM software. CRM software is used to manage customer information effectively and use the data in making decisions that can enhance the relationship between the prospective and existing clients. When implemented effectively, CRM will increase the efficiency, productivity, and sales of a business. However, it will be essential that B2BA USA focuses on the software that will meet their needs in the service industry and train the staff on how to use the technology to enhance customer relations.