Question

SECTION C [15 MARKS]
1. How can a good CRM system increase profits for a company?
2. Sometimes it is difficult to convince top management to commit funds to develop and implement a SIS.
Why?

Answer 1

Answer 1:-

CRM—or customer relationship management—is business software that helps individuals and teams maximize their customer communications and sales efforts.

In the past, only the largest companies could afford CRM software, and it was complicated to learn and implement. CRMs are no longer just for large-scale organizations with huge databases of customers, but are advantageous to even small and medium sized organizations.

Having to do manual data entry is one of the biggest productivity-killers for sales reps. CRM automates many of these repetitive admin tasks so your team can spend less time typing and more time selling

CRM also helps you build a standardized sales process, which gives your team a step-by-step roadmap for closing deals and helps to reduce the length of your sales cycles.

There are 5 ways of CRM, which helps to maximize your profits. They are as follow:-

1) Fewer lost leads

2) Targeted Marketing

3) Automated marketing

4) Prioritize through analytics

5) Mobile apps: never miss a lead!

Answer 2:-

Because these system is not simply reducing costs or increasing output, it might also change the way an organization does business and because many fundamental business changes are involved, measuring the financial impact gets more difficult which leads to management ‘s questioning to commit funds to develop and implement an SIS.

Thus, it is difficult to convince top management to commit funds to develop and implement a SIS.