Business strategy

Develop your business strategy with CRM

In a time when most companies are in fierce competition with other companies to get customers in an ever-changing market, it is vital to have a business strategy that is consistently aimed at reaching the company’s goal and increasing growth, and which can form the fundamental strategic basis for the development of processes and methods. A business strategy is a dynamic management tool that can be used by management to keep the company on the right track. It is also important that management can translate the strategy into concrete methods that can be performed by the employees of the company. A business strategy is never locked, and in a changing world, it is crucial to develop and optimise your company’s business strategy so that management can be sure that the business is working towards the right goals with the right means.

It requires sufficient information to assess whether a company achieves the desired goal of growth, and if the company achieves its goals, it is necessary to know what exactly has caused this. On the other hand, it is also necessary to learn about the cause of not reaching the business strategy’s goals, so the company can make changes in the right places. A CRM system can help give you that information.

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Data analysis and reporting

With a CRM system such as webCRM, where you have all of the crucial customer data in one place, and which can be integrated with, among others things, your financial management system, your company will have an invaluable tool which can be used to learn about itself and its customers. This is vital knowledge when the company is to develop the right business strategy that creates a framework for the company and the employees. With webCRM your company can gain insight into different customer patterns that can teach you about your customers and how they react to different contacts and offers from the company. With a CRM system, you can, for example, analyse the opening rate of newsletters. It gives an insight into the types of customers that are interested in specific products, and this means that you can learn about which companies are going to use your resources when you need to sell a particular product or service.

One of the features of webCRM is, for instance, that the system can help the sales team to predict sales and keep track of budget targets and it provides an important overview of how much of the sales work ends up with actual orders. This is done through a pipeline feature where at each stage of a sale the salesperson assesses the likelihood of success. Then webCRM does all the data work and puts together a report that makes management more aware of whether there is a need for new initiatives or improved working methods.

 

Target your efforts

With all the necessary data of where the biggest gains are for the company, and where the most resources should be used to achieve the business strategy’s goal of growth, it will also be easier for the marketing department to carry out better-targeted marketing that hits the right customer groups. A good start is to divide your customers into A, B and C customers; then your company will have a clear overview of which customers are most profitable in terms of where you make the biggest contribution margin. By integrating information from your financial management system (ERP) with webCRM, you can easily find out where there is most profit and the types of customers that entails. When you have found out which customers are the most profitable, the next step is to find out which products these customers buy. This means that you can target both marketing and sales efforts at the right customers and make sure that these customers are always prioritised with the right resources.

So, there are lots of answers provided by the data, and it is just about using the knowledge in a targeted way in your work for customers and continued growth.