Customer Relationship Management, or CRM as it is known, is made up of the “principles, practices, and guidelines that an organization follows when interacting with its customers,” according to Investopedia. Essentially, CRM encompasses every interaction between a business and its customers, and relies on CRM software to do the heavy lifting when it comes to recording and analyzing these transactions.
Dimitri Akhrin knows the value of CRM as a practice, and he has spent decades building CRM software tools to enable businesses to harness the power of data to improve business relationships and accelerate revenue growth.
Akhrin is a highly accomplished entrepreneur, having established several successful business ventures including CRMDialer, IRIS CRM, and Bank Associates Merchant Services (BAMS).
In 2006, Dimitri founded BAMS, a national company that provides merchant services to help businesses get paid faster via credit cards or other forms of online payments. Just two years later, he and his team developed a CRM software for BAMS called IRIS CRM to streamline many of the challenges that Independent Sales Organizations (ISOs) like BAMS were facing.
Soon, Akhrin realized that the software he had developed would be incredibly valuable for companies in all sorts of industries. This led to the development of CRMDialer, a CRM solution tailored to solve the challenges that sales teams face every day across every industry.
Akhrin believes that instilling the value provided by CRM software will continue to be one of the most important factors to ensure business success. Here’s why:
Why is CRM Important?
CRM Improves Client Relationships
Customer relationship management has been proven to be one of the most efficient methods when it comes to developing and improving relationships with an audience.
CRM software solutions, like IRIS CRM and CRMDialer, provide the tools needed to succeed in customer relationship management. The customer relationship management approach is not solely focused on the bottom line, but also a means to building long-lasting, strong connections with customers.
With accurate, easily accessible client data, teams can personalize outreach and proactively increase trust with tailored solutions based on exactly what each customer is dealing with.
CRM Increases Business Profits
By improving relationships with customers, CRM software also increases the profitability of a business. CRM software helps businesses develop more in-depth, productive relationships with customers by utilizing collected data from website traffic, ensuring that a business is 100% in the know when it comes to their customers’ interests and actions on their website.
CRM software makes it easier for businesses to understand this key customer data, and to take actions in order to grow their business more efficiently and effectively. Targeted, personalized outreach increases customer retention and growth, which means businesses will have more resources to spend on acquiring new customers instead of just maintaining existing customer relationships.
CRM Maximize Team Productivity
CRM software automatically gathers and stores every piece of vital information about customers – such as the sales statistics or their various interactions with a business, all compiled into one place.
With CRM software doing the heavy lifting, time spent on manual tasks is reduced and teams have more time to efficiently improve company productivity. CRM software reduces the burden on employees and encourages them to function at their maximum potential to bring about innovative and unique ideas on the business table.
Akhrin isn’t the only one who believes in the power of CRM. In fact, CRM software is the fastest growing software market today, and it is expected to reach $80 billion by 2025 according to Grand View Research. Businesses need to take advantage of the benefits provided by CRM before they are left behind by competitors who see the value of CRM and CRM software.
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