Keeping customers satisfied is the primary goal of all businesses. But it is easier said than done. When customer complaints are ignored, it may not lead to losses in the short term, but it will definitely affect the corporate image and eventually lead to the decline of the business.
How can we manage our customers in a smart manner? In today’s digital transformation age, businesses now need a centralised system to connect with consumers and keep them contented and happy.
According to Fortune Business Insight, the global market for a customer relationship management system was valued at $57.83 billion in 2021 and is projected to grow to $63.91 billion in 2022 and $145.79 billion by 2029.
Moreover, in the wake of the pandemic, a CRM system in Hong Kong has morphed from three-letter monsters into ready-set-go software for all types of organisations. Choosing the right CRM system isn’t easy given the innumerable CRM software available in the market.
Don’t fret! This guide will help you with finding the best CRM In Hong Kong.
What is a CRM system?
CRM stands for “Customer Relationship Management.” It refers to a combination of strategies, tools, technologies, and processes used by enterprises to build long-lasting relationships with customers, as well as acquire and retain new customers.
A CRM system is also referred to as a Customer Relationship Management System. It records and manages the entire purchase history, customer information, consumer behaviour patterns, and other data to ensure that each stage of the customer journey is smooth and effective to maintain the health of the entire customer life cycle (Customer Life Cycle).
Revolution of a CRM system
As technology evolves, CRM systems evolve too. Different CRM products vary in terms of functionality, technology, features, and focus.
Here’s the breakdown of the three main stages of a CRM system.
Stage 1: Operational CRM
Automate the sales pipeline from lead generation to closing. In addition to managing your sales force, an operational CRM can also track, manage, and improve the entire customer life cycle.
YOOV PLUS - Sample diagram of CRM system
Stage 2: Analytical CRM
Analyze customer profiles, which include psychological characteristics, consumer needs, behavior patterns, transaction records, satisfaction, etc., and then transform them into reference data for exploring potential customers, helping companies develop effective marketing strategies.
Determine which customers are the most valuable by:
- What particular marketing campaigns generate the most leads
- What types of leads turn into sales
- Which sales actions lead to a purchase
- Customers with the highest lifetime value
- The most frequent customer complaints and how effectively your support team resolves those issues.
Stage 3: Collaborative
Provide internal communication channels within the organization, enhance communication between multiple departments by keeping everyone on the same page with the latest information.
You can see the benefits:
- Single sources of information, keeping departments aligned
- Smooth internal and external communication
Why should you have a CRM system in Hong Kong?
With the global CRM market growing at a compound annual growth rate of 12.5% a year, an integrated CRM solution is essential for companies to take the customer engagement experience to the next level.
In Hong Kong, CRM is commonly used in B2C and retail industries to elevate sales and build positive customer relationships. With a CRM system, you can centrally store, manage, and query customer information, including the first visit date, purchase patterns, and customer value.
With eCommerce, WhatsApp, and Facebook chatbot incorporated into CRM data, you can save time with manual marketing campaigns and serve the client at the right time with the right channel, thus improving conversion rate.
Top features to look for in a CRM Solution
There are plenty of CRM system available in the market with new entrants and features are introduced timely. It can be tough to choose the best one that integrates easily into your current business operations and scales accordingly.
Here are some notable features that you should consider while purchasing a CRM system.
- Contact management
Choose a CRM system that’s built to collect and organise all information about customers - phone numbers, email, postal addresses, and service conversations. It will be quick and easy for a travelling salesperson to access all details on their mobile while on the go.
- Lead management
To track pipeline activities, tasks and targets, from prospect to conversion.
- Sales forecasting
To get better visibility over the sales cycle and how close the company is to hit its targets.
- Email tracking and integration
Syncing client emails is the most attractive feature of a CRM system that enables you to get an overview of your leads and customers. You can also track and search messages to and from your customers, arrange meetings via calendars and see across every device within a single workflow.
- Dashboard-based analytics
Using charts, such as line graphs, bar graphs, etc., you can present insightful, intuitive, and meaningful dashboards for your team.
- Workflow automation
Automate your business in a few simple steps. You can automate the daily shipping and receiving process, handle multi-item purchases, sales and inventory transactions, automatically add a new customer with all details, and much more.
- Centralised database
A centralised cloud-based database that provides real-time data monitoring across all devices - desktop, tablet and mobile.
- Customisation Options
Continuously improve the applications with the customisation and scale your system according to market demand.
- User-friendly - reduces IT complexity and cost
A shortage of IT resources can create a massive backlog of development requests. A CRM system with drag and drop tools can minimise IT complexity and save infrastructure and labour costs.
YOOV PLUS is a lightweight, entry-level CRM solution
It is not easy to choose a CRM system that meets your needs, YOOV PLUS s a lightweight, entry-level CRM system, which meets the basic functional requirements of enterprises for CRM systems. With YOOV PLUS's one-year free trial, businesses can experience first-hand the benefits of CRM systems.
Start your CRM journey now by registering for a free trial of YOOV PLUS!