Ans. Advantages Of CRM
CRM helps in maintaining, and managing customer records and presting them in a simplified format.
Creates better mapping of a buyer persona which helps organizations to get deeper insights into their target market. Organizations can use this information to create better content, communication, products, and services.
Implementing CRM can result in better cost management. Information and data can be digitalized saving employees and managing costs. Furthermore, CRM reduces the chances of failure rate as the decision is based on data and facts.
Improve customer retention and generates brand loyalty. Businesses can make use of CRM to understand customer pain points and requirements. This helps them to make better communication for satisfying consumers.
Implementing CRM allows small to big size enterprises to increase sales and revenue.
Disadvantages of CRM
The number one drawback of implementing CRM is pricing. Many CRM is costlier to implement which increases the overall marketing budget of an organization.
Many a time employees are not easily able to adopt new technology. Training and development are required which is time-consuming and costly.
Data security and theft are always an issue with an automation system. Small to big scale businesses need to update the system time on time to make the working smooth and hassle-free.