Every industry focuses on customer satisfaction. Be it B2B (business to business) or B2C (Business to Customer), customer satisfaction is the primary concern. Amazing service can lead to enhanced customer satisfaction.
Companies work hard to achieve customer retention and increased sales. CRM can be a great help in this process. CRM stands for Customer Relationship Management. There are various companies offering CRM software to organizations.
CRM software assembles customer data across the different points of contact between customers and organizations. Websites, chats, calls, and emails are used to extract customer data. Employees can use this data from CRM.
The sales team must have complete knowledge of customers. The salesperson should know basic details about the prospect such as name, address, contact information, purchase history, buying preferences, and a lot more.
- CRM industry value exceeded $40 billion in the year 2017
- 79 percent of leads fail to convert because of a lack of CRM
- The CAGR on CRM is 15.1%
- CRM generated $36 billion in 2016
- CRM reduces lead cost by 23%
CRM can be a great help in all industries. This software helps companies understand what is in demand and what are the exact requirements of customers.
What are the Benefits of Having Salesforce CRM in the Manufacturing Industry:
1. Demand Forecasting
the manufacturing industry is not just related to oil & gas or electrical power. It includes various sectors like high-tech, electronics, retail, etc. The manufacturing industry is a risk game. It is extremely important to estimate the demand for the product.
Have you ever wondered how manufacturers decide what amount of products to manufacture? By using Demand forecasting. CRM allows accurate demand forecasting. CRM analyses the market condition. It performs deep research. CRM finds out what are the most talked-about products? What are the most promising products, etc? For the high-tech and electronic sectors, it is more difficult to forecast the demand.
These sectors are fast-changing and every day some new technology enters the market. Manufacturers cannot risk producing more than required. People want to have the latest technologies. For instance, if any new smartphone enters the market, people will start researching it and buy it.
Why would anyone buy a smartphone with outdated features? CRM helps the manufacturing industry to get a better idea of product demand in the market. Companies can also improve production information with CRM. CRM offers information about the latest trends in the related sector.
It also offers a user’s expectations. Offshore salesforce development companies can include all this information in manufacturing and offer the latest product for end-users. Companies can launch their product before their competitors.
Don't forget to check out: Salesforce for Manufacturing: How to Digitize Your Sales Processes
2. Improve Product Quality
How can you satisfy customers if the product quality is poor? CRM not only stores customer data but also other information required to boost customer engagement. Customers can stop using your products in case of any defect or fault in the end product.
CRM gathers and analyses data from multiple sources to detect process errors in real-time. The quality of products is enhanced by removing defects. As the usage of social media has increased, users can post bad reviews about the product publically damaging the brand image.
CRM leaves no medium to catch customer feedback. CRM collects all such reviews from social media and analyses what defect is spoiling the brand image. Customers are the best testers. CRM enables easy error detection and offers the best suitable solutions.
3. Intelligent Supply Chain
What is the supply chain? The supply chain is nothing but scheduling manufacturing, order processing, inventory management, warehousing, and distribution. This is a step-by-step process. In the manufacturing industry, CRM helps in demand forecasting.
As per the demand, the company schedules manufacturing. Companies process orders as per demand. Later, the products are sent to the warehouse department. Companies store products in a sorted format in warehouses. To manage a large number of products, some changes need to be done in inventory.
Finally, the products are dispatched to the retailers. CRM offers useful insights into order processing, inventory management, warehousing, and distribution. If the company does not use CRM, there are high chances of errors occurring in the supply chain.
Errors in the supply chain can lead to great loss, overproduction or insufficient production, lack of space in warehouses, etc. to avoid all such issues, it is recommended to use CRM software.
4. Better Customer Relationships
CRM software can keep track of warranty, repair, or service issues. It is important for companies to offer safe delivery as well as after-sales service. CRM also manages the day-to-day queries and service calls. Customer relationship requires offering great service. It is important to resolve customer queries in less time.
5. Get More Business
As CRM stores a lot of important data, sales, and marketing departments can completely rely on it. The sales and marketing department can make detailed reports taking customer behavior into account. As the CRM offers details about every customer, the support staff can offer quick solutions to the customers based on their respective data.
The biggest benefit is for the sales department. The CRM has detailed information about the company as well as customers. Every sales department needs to study the buyer’s persona. A buyer’s persona can be created in no time with the help of CRM.
These were the top 5 benefits offered by CRM systems to the manufacturing industry. But manufacturers must outsource the CRM software development. It is obvious that most manufacturing companies are not related to the software sector. Even if these companies hire a CRM development team, it can add to the cost.
Why Outsource CRM Development
As the CRM developers are skilled and experienced people, they can easily offer customized CRM solutions to each client. The manufacturing industry has various sectors. Each sector has different requirements. A customized CRM can be a great help.
CRM Development companies offer the best CRM solutions at an infeasible price. Hiring an in-house CRM development team requires salary cost, training cost, maintenance cost, etc. developing CRM in-house requires tools and technologies.
It is difficult to find skilled CRM development experts. The in-house team has fewer chances of offering high-quality CRM solutions.
CRM is one of the best technologies to gather and analyze customer data. The construction industry can benefit from CRM in different ways. It can be used to enhance the customer experience.