crm solution for improved workflows and increased productivity

Businesses that actively use CRMs see more revenue and overall benefits.  Correctly setting up your CRM for your business type, whether it is a BHPH or otherwise, is just the first step.  There are best practices every business should keep in mind.  We will discuss some of these, including why to target customers, the benefits of setting up workflows and why targeted campaigns strengthen your business.

Identify and Target Best Customers

Particularly important for the BHPH industry, but extensible to all, is identifying and targeting your best customers.  Taking into account that credit-challenged customers often mean more risk (with higher delinquency and charge-off occurrences), targeting the best customers is crucial.

Establishing good relationships and keeping the best data allows for effective mining. Being able to filter your database to find quality customers is a powerful tool in turning profit.  Growing your portfolio is oftentimes assisted by repeat and referral business.  One of the best ways to accomplish this is using your current database – your best customers often lead to the best referrals.  To note, to successfully mine your data, it is important to ensure it is good data.

Your best customers often lead to the best referrals.

Establish Workflows

Regardless of the size of your business, it is imperative to have workflows in place.  From the moment a lead is entered into your CRM, workflows are the best tool to avoid losing but rather capitalize on opportunities. Workflows are both used along the customer sales funnel, but also for tasks/reminders for users.

A customer workflow consists of automatic drips, user-initiated interactions, and strategic campaigns at certain points in the lifecycle. Facilitating workflows sets your business up for success while supporting the process you already have in place.  This is one of the most important practices to convert leads, build rapport, and create repeat business.

Plan and Execute Targeted Campaigns

The last practice I will discuss in this blog is planning and executing targeted marketing campaigns.  By mining viable customers from your database, digital marketing strategies are simpler than ever.  Focused strategies allow your CRM to improve efficiency and ensure quality content reaches your audience.   Email or SMS marketing to your best customers reduces both time and cost of reaching out while boosting sales and customer retention.

There are a multitude of other best practices to consider when using your CRM.  Many of these revolve around cultivating the best customer experience to affect your business.  If you have questions on identifying your best customers, building workflows or executing campaigns reach out to us at support@abcoa.com or 800-526-5832