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How to do customer relationship management well?

By | CRM, Marketing in China

What is customer Relationship Management? How to do customer relationship management well?

Customers are the core assets of an enterprise. Whether a company can win a place in the market competition depends on how many customers it has and whether it can create more value for it.

With the continuous development of Internet technology, the era of mobile Internet has arrived. Many enterprises realize the importance of customer management, have carried out a variety of measures and means to manage, but the final effect is not ideal.

  1. Current situation of customer information management

The management of customer information is mainly divided into two aspects, one is the collection of customer information, the other is the query and management of users.

Collect customer information in the form of SMS (telephone) : Since SMS service has not been popularized in most enterprises in China, most enterprises will collect the contact information of internal personnel through SMS platform, such as company address, department name, telephone number, etc.

Collect customer information by E-mail (E-mail) : Since the Internet is just starting in China, E-mail is not popular in China.

Collecting customer information in APP form (APP) : Since many people do not have or cannot use smart phones, it is difficult to realize the collection of customer information by APP.

Use PC side website/software to query and manage customer information: Because PC side website/software does not have powerful data processing function, it is often unable to realize efficient data analysis.

Using CRM system or other tools to query user information: CRM system has many advantages in management, but it is difficult to realize the direct interaction and communication between enterprises and users, and it is also difficult to ensure the security of user data within the company, which makes many companies reluctant to use the system to query user information.

  1. the classification of customers

Customers are classified according to the characteristics of different types of customers. Customers are classified according to their consumption needs, usage scenarios, behavior habits and other characteristics, which can improve sales efficiency.

For example, if it is divided according to the consumption power: the customers with high consumption power are high net worth customers, mainly concentrated in high-income industries or middle and high-end groups; The customers at the middle end of the medium consumption power are low-value users, whose demand will not change and fluctuate, so the sales difficulty is relatively small; Low-end consumption power is weak, is the enterprise’s ordinary user group.

Iii. What is Customer Relationship Management

Customer relationship management is an effective management of customer resources, which can better help enterprises retain and serve old customers, and also increase new markets for enterprises.

In the process of managing customer relationship, we should pay attention to the following aspects:

Establish a good corporate culture and values;

Develop reasonable customer maintenance strategies and methods;

It is a good choice to establish a perfect CRM system, improve the communication efficiency, enhance the sensitivity to the market, and establish a dedicated CRM system according to different types of customers.

  1. Customer analysis and forecast application

In the business operation, analysis and prediction is a very important work, can effectively help the enterprise to grasp the market trends and customer demand change law.

Through data integration and data mining, customer distribution and customer behavior information can be mastered to achieve customer segmentation

Based on data modeling and machine learning algorithms, we predict the changes in the number and proportion of customers for each category over a period of time.

Through the establishment of a model to calculate the performance of each department and comparative analysis;

Develop effective management system and marketing strategy according to the target; Aiming at the target market and target users, design a unique management scheme and marketing model; Through data mining for enterprises to find new customers, expand market share.

 

  1. Intelligent CRM platform development tools

Cloud CRM: The “Cloud business” platform independently developed by Cloud Business Technology, featuring multi-tenant, multi-level authority, multi-system integration, cross-enterprise data integration, etc.

Cloud CRM development tools: Customer management system functions include customer file management (can achieve batch import customer information); Marketing acquisition (automatic acquisition of business opportunities); Intelligent recommendation (seamless integration with existing sales and management systems); Customer follow-up (can integrate the data of different sales channels and classify potential customers through intelligent report analysis); Data statistics and analysis (can conduct multidimensional statistical display and analysis of sales data);

Cloud CRM operation platform: It is an application mall developed on the basis of cloud, which organically combines offline physical stores and online malls to realize membership management and provide value-added services for members.

Intelligent marketing platform: all-channel customer tracking through mobile phone wechat client;

Smart CRM mobile management APP: the mobile terminal can synchronously update customer information and work flow, automatic tracking of work flow, improve work efficiency.

  1. Customer relationship management solutions

Mobile CRM system is a very professional solution, which mainly solves two problems: one is how to improve efficiency, and the other is how to effectively manage customers. By solving these two problems, enterprises can improve efficiency and manage customers at the same time.

And as a sales staff, how to do a good job in customer relations? First of all, to clear their own goals and positioning; Secondly, the existing customers are analyzed: whether to choose loss or referral; Third, attract customers through products or services; Finally, the transaction of customers for tracking, return visit and maintenance.

Customer management is realized through customer group segmentation, positioning, group management and other functions. By analyzing the relationship between sales staff and customers (sales process), the analysis of business opportunities, leads and customer information, through the analysis of these information to provide corresponding suggestions and strategies; And the ability to optimize and adjust the business based on data.

Customer management is the foundation of an enterprise. Good customer management can promote the development of the enterprise, but if the enterprise does not do a good job in customer management, it will lead to a decline in the development speed and competitiveness. In the future, customer relationship management is bound to usher in new developments.

 

 

How does CRM carry out personalized marketing?

By | 未分类

How does CRM carry out personalized marketing? What is the goal of CRM?

CRM can play a very important role in collecting data. CRM can provide you with data on who your best customers are, where your prospects are in the sales process, and what products and services buyers are interested in. Salespeople can use this data to drive new sales and develop customer relationships.

In fact, when offers, emails, and ads aren’t personalized to customers’ interests, it can make them feel unvalued.

With the power of CRM marketing automation, businesses can segment and communicate according to each individual’s unique needs. As a result, your business can send targeted emails and offers, rather than a bot that sends a flood of emails to every contact, whether they’re a visitor who just checked your site or a lifelong customer ready to upsell.

One of the best ways CRM automation drives the human experience is through analytics and reporting. As your CRM continues to capture valuable user data, customer data, and industry data, you can monitor and measure what information is working and what is not.

Implement the objectives of CRM.

Improve customer retention:

By centralizing customer data and providing a personalized experience, businesses can build stronger relationships with their customers. This in turn increases customer loyalty, reduces customer attrition, and improves customer lifetime value.

Increase income:

By giving sales team access to accurate, up-to-date customer data, businesses can identify new sales opportunities and provide personalized service to their customers. This allows for cross-selling and up-selling, and increases customer conversion.

Drive growth:

CRM can also help drive growth by providing businesses with insight into customer behavior, preferences, and needs. Through customer data analysis, businesses can identify new market segments, develop new products and services, and expand into new geographies. This can drive long-term earnings growth and create new revenue streams.

 

The Core Functions of CRM?

By | CRM, Marketing in China

Does it worth to have the WeChat-CRM at the beginning?

What is CRM? This article will introduce you to CRM systems.

The functionality of CRM software covers the entire lifecycle of customer management, including user management, marketing management, lead management, sales management, order management, data analysis, and more.

User Management

Omni-channel customer acquisition: Support multiple channels for customer access, including API access, bulk import, input, and lead allocation

User tracking: Customer allocation, follow-up, conversion, full tracking, and accurate correction of marketing strategies Customized tags: Track and record customer behavior, identify high-value leads 360° customer profile: Comprehensive profiling of customer information。

Lead Management

 

Lead collection and follow-up: Real-time tracking and automation of the entire sales process, from leads and opportunities to orders and payments.

Lead import: Creation and import of sales leads with automatic population of location details based on phone numbers.

Lead nurturing: Setting up automated marketing actions at various stages and key touchpoints of the customer journey to continue nurturing leads and increase conversion rates.

Lead assignment: Filtering and automatically assigning leads to salespeople based on predefined criteria..

Why do businesses need CRM?

By | CRM

Why do businesses need CRM?

CRM systems provide significant benefits to businesses. They help managers serve customers better, automate daily tasks, streamline sales workflows, enhance customer satisfaction, address business development issues, strengthen competitiveness, and achieve long-term growth. Now, a question arises: What kind of businesses need CRM systems?

1:Dispersed customer resources

If a business has multiple channels for customer development, and these customer resources are concentrated in the hands of salespeople, then the business needs to use a CRM system to centralize the management of customer resources.

A CRM system can centrally manage dispersed customer resources, analyze information about new and existing customers, conduct targeted marketing activities based on customer segmentation, and improve customer retention. At the same time, it reduces the occurrence of unclear customer information within the company.

2:Unclear work progress

When a business cannot grasp the work of the sales team or other employees, cannot provide guidance or suggestions based on their actual situations, and cannot hold them accountable for results.

A CRM system allows real-time tracking of project progress and customer follow-ups. It can also visualize data into charts and graphs for timely understanding of the company and employee situations, enabling a comprehensive view.

3:Lack of standardization in the sales team

Businesses need to understand the potential customers of their sales team. Sales processes should be visualized to understand the progress of salespeople’s work and to guide and manage their work.

CRM systems’ sales process management functionality can effectively standardize the sales process of a business, such as lead follow-up, contract signing, order management, and discount approval. Companies can track every stage of the sales process within the CRM and systematically execute tasks at each stage. They can build standardized sales processes based on the most effective sales strategies, enabling the sales team to work according to the correct sales process.

4:Need for mobile office capabilities

Salespeople often travel or work outside the office and rarely stay in one place. Most of the time, they communicate with customers through mobile phones, tablets, and other devices. Business opportunities can change rapidly, and failure to respond promptly can lead to customer loss.

Mobile CRM systems address this issue. Salespeople can manage leads, opportunities, and contacts through their mobile phones, perform work tasks, respond to unexpected events, and work efficiently. Companies can also manage and deploy their operations anytime, anywhere through smart devices.

5:Data statistics and analysis

Visibility of data is crucial for businesses. It provides timely reflection of key indicators, clarifies business status, and facilitates improvements and promotions by the sales team and other employees.

Through the data analysis functionality of CRM systems, sales data can be viewed by team or individual, ranging from leads, customers to sales revenue. Intuitive reports and charts present the business situation, identify problems, facilitate quick decision-making, and provide a clear and efficient overview.

The above are just some situations. After all, each business has its unique circumstances. However, CRM systems can indeed help businesses improve efficiency, optimize processes, and increase profits. Therefore, it is recommended that businesses choose to use CRM systems for management in order to achieve better development.

What is CRM? How to fully understand the CRM system?

By | CRM

What is CRM? How to fully understand the CRM system?

1: CRM stands for Customer Relationship Management. It generally refers to a method of managing customer resources or the systems developed based on this method. Customer Relationship Management (CRM) is an interactive platform used to manage customer relationships in companies that have both new and existing customers. It leverages data analysis of relevant business transactions to improve business relationships with customers, with a particular focus on customer retention and ultimately driving sales growth. The derivative product of CRM thinking is the CRM system, which collects data from various communication channels, including company websites, phone calls and emails with customers, live chats, marketing materials, recent social media interactions, and various offline promotions. Through the CRM approach and CRM system, businesses can gain a deeper understanding of their target audience and how to better meet their needs. With the development of IT technology and the internet, CRM system tools continue to evolve. They are primarily classified into two types based on payment and deployment methods: subscription-based (also known as Software-as-a-Service or SaaS) and perpetual license. Subscription-based CRM systems operate on a yearly payment model and are deployed in the cloud, while perpetual license CRM systems require a one-time payment for lifelong usage and are deployed locally, often requiring dedicated servers. Today, CRM software has evolved from a simple customer management system into a powerful comprehensive technological tool that allows you to manage sales, marketing, finance, suppliers, and other types of operational data. Its ultimate goal is to attract new customers, retain existing customers, and convert current customers into loyal customers, thereby generating more revenue for the business.

2: CRM and SCRM differ in their focus and approach to managing customer relationships.

CRM is a product of the telephone era, while SCRM is a product of the social media era. This is the fundamental difference.

When the key variables of communication media undergo a qualitative change, many things change along with it. For example, the following aspects are worth noting:

The form of leads has changed: With the invention of QR codes, phone numbers are no longer the only choice for lead generation. Phone numbers point to a series of digits, while QR codes point to friends.

Touchpoints and marketing methods have also undergone reshaping: Social networks (and social media) themselves imply a large amount of content and connections extending in various directions. Moments shared among friends, chat scenes, social media feeds, etc., are all derived marketing scenarios, providing a basis for the accumulation of user data.

 

New forms of leads combined with diversified contacts have changed customer acquisition efficiency: In short, the connect rate of phone calls has almost reached a ceiling, and lead forms based on friend relationships are breaking this deadlock.

CRM cannot establish a private domain, while the main goal of SCRM is to help businesses build a private domain.

If a tool, apart from theoretically integrating with WeChat, does not have much difference in other modules compared to traditional CRM, it can also call itself SCRM, but it would be more like old wine in a new bottle. Theoretically, it may claim to add customers on WeChat, but in practical work, it cannot be achieved. If it cannot be added, then establishing a private domain becomes a facade, and the slogans of inheriting clients and retaining them are contradictory.

The main issue lies in leads. Due to a strong dependency on phone numbers, the lead processing of these so-called private domain tools mostly follows the process of “admin distributing phone number leads – salesperson repeatedly making sales calls – telling customers that I will add you on WeChat”. The steps are cumbersome from start to finish. In the end, few customers actually join the corporate WeChat, or many salespeople are simply unwilling to add customers on WeChat.

Only by truly reconstructing the process and directly addressing the connectivity issues in each customer acquisition scenario can we live up to the word “social” and build a private domain. On the other hand, most CRM information is manually entered by salespeople. Due to considerations of customer information protection, the information is often deliberately desensitized. SCRM makes it possible to construct private domain data. SCRM relies on highly mature social networks where people consume and disseminate a large amount of information every day.

For customers who have entered our private domain, compliant collection, analysis, and application of data can help us understand their intentions more accurately, build a classified and layered private domain operating system, and provide targeted services to customers.

 

3: CRM focuses on division of labor, while SCRM emphasizes collaboration.

Anyone who has been in contact with traditional CRM partners is familiar with the concepts of the “public sea” and the “private sea.” Between these two seas, customers are distributed, converted, and reclaimed as leads. The decisive factor behind this is that the lead repository of traditional CRM heavily relies on phone numbers. Once a lead is assigned to a specific salesperson, they establish a one-on-one exclusive relationship with the customer.

At the same time, managers fulfill their role in division of labor. Next comes the common customer protection behavior by salespeople. Collaboration is secondary in an overall environment lacking trust. (In traditional CRM systems, a customer’s information cannot be followed up by multiple salespeople—duplication—under the strange notion of exclusive one-on-one relationships, where the customer is unaware or remains unaware even if the relationship is transferred one day.) In SCRM, QR codes have become the primary carrier of leads. Once a customer engages with a company, it automatically establishes a one-on-one relationship with the specific business person within the company.

Furthermore, this relationship cannot be unilaterally changed by the company, but if the experience does not meet expectations, it is the customer who actively terminates the relationship. This also means that companies need to maintain appropriate strategies during the communication process to avoid customer displeasure. Moreover, assuming two salespeople consecutively add the same customer, this relationship can only be stacked in the system. There is no concept of “previous salesperson terminating the friendship and transferring the relationship,” allowing for natural occurrence of one-to-many or even many-to-many relationships between the parties involved in the transaction.

In other words, on the one hand, relationships are multilateral, and on the other hand, customer data can be and should be systematically accumulated in an orderly manner with each interaction (as mentioned in the second point above). This means that collaboration has become an irresistible choice under the premise of relationship and data sharing—because the efforts of every salesperson who establishes a relationship with the customer are transparent within the system.

To be frank, the previous salesperson’s follow-up and the system’s records can also provide strategic references for the decisions of the next follower. Information is horizontal, and collaboration becomes a more natural choice. In contrast, in traditional customer relationship management, the system overlooks the previous sales efforts in tracking the customer, and only those who happen to close the deal reap the benefits.

 

 

What are 5 qualities of a good customer service?

By | CRM, WeChat Marketing

What are 5 qualities of a good customer service?

Here are five qualities of good customer service:

  1. Friendliness and professionalism: Good customer service begins with a friendly and professional attitude. Customers expect to be treated with courtesy, friendliness, and respect. At the same time, employees should possess the necessary expertise and skills to provide accurate and helpful information and resolve customer issues.

  1. Listening and understanding: Good customer service means listening to customers’ needs, concerns, and feedback and making an effort to understand their unique situations. Employees should actively listen, ask questions to clarify issues, and express understanding and empathy towards customers.
  2. Timely response: Customers expect prompt responses. Whether it’s through phone calls, emails, or social media, employees should respond to customer inquiries, complaints, or requests in a timely manner. Even if an immediate solution is not possible, customers should be assured that their issues have been acknowledged and will be addressed promptly.
  3. Problem-solving ability: Good customer service is demonstrated by the ability to effectively solve customer problems. Employees should possess strong analytical and problem-solving skills and take appropriate actions to address customers’ difficulties. They should also have sufficient knowledge and resources to provide suitable solutions.
  4. Continuous improvement: Good customer service is an ongoing process. Companies should encourage employees to provide feedback and suggestions for improving the customer service experience. By continuously learning and improving, companies can meet evolving customer needs and deliver better service.

These qualities help establish a positive customer service culture and enhance customer satisfaction and loyalty.

 
 
what does crm stand for?

what does crm stand for?

By | CRM

Does it worth to have the WeChat-CRM at the beginning?

CRM is a business strategy and technology system designed to enhance sales, marketing, and service by effectively managing and strengthening interactions with customers. CRM systems help businesses establish and maintain customer relationships to provide better customer experiences and maximize sales and profitability. CRM systems typically include the following functionalities and features:

what does crm stand for?

Customer data management: Centralized storage of customer information, including contact details, interaction records, purchase history, etc. Sales management: Tracking sales opportunities, activities, and processes to improve sales efficiency and conversion rates. Marketing: Managing marketing campaigns, target customer segments, and campaign effectiveness. Customer service and support: Providing customer support and handling service requests, including complaints, issue resolution, and after-sales support. Analysis and reporting: Analyzing customer data, sales trends, and performance metrics to provide insights into customer relationships and support decision-making. Automation tools: Automating tasks and workflows to improve work efficiency and consistency. CRM systems can be applied across industries, helping businesses better understand and meet customer needs, enhance customer loyalty, and achieve sustainable growth.

What is inside sales?

By | Marketing Automation

what is inside sales?

Internal sales refers to the sales activities between employees within a company, in which one department or team sells the company’s products or services to another department or team. Typically, internal sales occur as interactions between different departments in an organization to meet the overall business goals of the company.

Internal sales can happen at various levels within a company, including different departments, branches, or different business units. For instance, the sales team can sell products to the production team and ensure that the production team can manufacture and deliver the products on time, or the marketing team can provide potential customer lists to the sales team and help them better understand customer needs.

The purpose of internal sales is to coordinate the work of different departments, improve organizational collaboration efficiency, and business performance. Through internal sales, different teams can better understand each other’s needs and work, better meet customer needs, increase sales revenue, and ultimately improve the company’s performance.

Here are several ways to improve internal sales performance:

  1. Establish clear internal sales processes and standards: Establishing clear internal sales processes and standards can help ensure smooth cooperation between the sales team and other departments, thereby improving sales efficiency and accuracy. The processes and standards should clearly outline the responsibilities and objectives of sales and service and provide guidance and support for collaboration between teams.

  2. Strengthen internal communication and collaboration: Internal sales require close collaboration between different teams, so strengthening internal communication and collaboration is critical. The sales team needs to understand the needs and goals of other teams to better coordinate work. In this regard, using team collaboration tools and regular communication meetings can effectively promote communication and collaboration.

  3. Establish internal sales incentive mechanisms: Setting up incentive mechanisms for the internal sales team can help stimulate their motivation and initiative, thereby improving performance. Incentives can include bonuses, promotions, and other forms of benefits.

  4. Provide employee training and development opportunities: Providing employee training and development opportunities can help them improve their sales skills and knowledge level, thereby improving internal sales performance. Training can involve product knowledge, sales techniques, customer service, and communication skills, among other aspects.

  5. Focus on customer satisfaction: The ultimate goal of internal sales is to provide value to customers, so focusing on customer satisfaction is crucial for improving performance. Understanding customer needs and feedback, and providing timely responses and solutions to their problems and needs can improve customer satisfaction and loyalty.

By adopting these methods, companies can improve internal sales performance, thereby achieving higher business goals and increasing profits.

How to Calculate Customer Churn Rate and Revenue Churn Rate?

By | Marketing Automation

Does it worth to have the WeChat-CRM at the beginning?


The formula for calculating the customer churn rate is as follows:
Customer Churn Rate = (Number of Customers Lost ÷ Total Number of Customers at the Beginning) × 100%
Here, “Number of Customers Lost” refers to the number of customers who no longer conduct business with your company during a certain period, and “Total Number of Customers at the Beginning” refers to the total number of customers during the same period.
For example, if your company had 1,000 customers at the beginning of a quarter, but at the end of the quarter, 100 customers no longer conducted business with your company, then the customer churn rate would be:
(100 ÷ 1,000) × 100% = 10%
Therefore, in this quarter, your company’s customer churn rate is 10%.
It should be noted that this formula is a basic method for calculating customer churn rate, but in practical applications, it may need to be adjusted and modified according to different business situations and industry characteristics.

How to calculate the customer revenue churn rate?
Customer revenue churn rate refers to the percentage of revenue loss caused by customer churn within a certain period. The formula for calculating customer revenue churn rate is as follows:
Customer Revenue Churn Rate = (Total Revenue Lost from Churned Customers ÷ Total Revenue) × 100%
Here, “Total Revenue Lost from Churned Customers” refers to the total revenue lost from all churned customers during a certain period, and “Total Revenue” refers to the total revenue generated by all customers during the same period.
For example, in a month, your company’s total revenue is $10,000, including revenue from 50 customers. At the end of the month, you found that 5 customers no longer conducted business with your company, and the total revenue lost from these customers is $500. Then, the customer revenue churn rate would be:
(500 ÷ 10,000) × 100% = 5%
Therefore, this month, your company’s customer revenue churn rate is 5%.
It should be noted that customer revenue churn rate can help you better understand the impact of customer churn on company revenue, but it also needs to be analyzed in conjunction with other indicators to better formulate countermeasures.

What are lead Customers and How to Acquire Customers from China through Digital Marketing?

By | CRM, Marketing in China

Does it worth to have the WeChat-CRM at the beginning?

A lead customer refers to a potential consumer who has a demand for a product or service but has not made a purchase yet. Digital marketing is the promotion and marketing of products or services through digital channels and online platforms, including but not limited to search engine optimization (SEO), search engine marketing (SEM), social media marketing, email marketing, content marketing, etc.

Acquiring customers from China through digital marketing can be done through the following methods:

 Search Engine Optimization (SEO): By optimizing website content and structure to improve its ranking on search engines, thereby increasing the visibility of the website in search results and attracting potential customers. Chinese keywords can be used for optimization to cater to the search habits in the Chinese market.

Search Engine Marketing (SEM): By placing advertisements on search engines through bidding for keywords, the ads are displayed in search results, thereby attracting potential customers. Local Chinese search engines such as Baidu can be used for advertising.

Social Media Marketing: By creating brand accounts, publishing engaging content, and interacting with potential customers on popular Chinese social media platforms such as WeChat, Weibo, Douyin, etc., guiding them to visit websites or participate in purchasing activities.

Email Marketing: By building an email list and regularly sending emails to potential customers with promotional information, discounts, etc., guiding them to visit websites or make purchases.

Content Marketing: By publishing high-quality content, such as articles, images, videos, etc., on Chinese social media platforms, blogs, forums, etc., attracting potential customers and guiding them to visit websites or make purchases. The content should align with the cultural and language characteristics of the Chinese market.

Online Advertising: By placing advertisements on Chinese internet platforms, including banner ads, native ads, video ads, etc., attracting potential customers to click on the ads and guiding them to visit websites or make purchases.

It’s important to note that digital marketing for the Chinese market requires an understanding of the market environment, cultural habits, laws and regulations in China, and customization of marketing strategies based on different products or services to ensure effective acquisition of potential customers and their conversion into actual customers. Compliance is also a crucial consideration in digital marketing, and it’s important to adhere to relevant laws and regulations in China and avoid risks of non-compliance.