Recession – The Dark Patch of Businesses, CRM – Can it be the Light?


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– the only word in recent times that’s been hyped about and the effects have been spreading across the world. Major banks like Lehman Brothers, Merrill Lynch, etc have succumbed to recession. Not only Banking industry, but also the Real Estate, Automotive, Media industries are some, which have been hugely affected.

Organizations that have survived the previous recessions know the importance of working in an organized manner and retaining the existing customers, especially during recession times.

A Customer is the most important visitor on our premises, he is not dependent on us. We are dependent on him. He is not an interruption in our work. He is the purpose of it. He is generic cialis online not an outsider in our business. He is part of it. We are not doing him a favor by serving him. He is doing us a favor by giving us an opportunity to do so. Mahatma Gandhi

During recession time the customer sentiments are low and their budgets as well. In order to retain and grow, you need to organize yourself and work. Shortfalls in Services or Customer Relationship will not be tolerated. Therefore it is imperative that you work and grow in an organized fashion and avoid shortfalls. And Customer Relationship Management (CRM) software provides just that.

Now the question arises as to, How a CRM can help you beat the Recession?

It helps you Organize

Many organizations have resorted to job cuts

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during recession. Which means that the same amount of work is shared between lesser number of people.

More Work = Greater Disorganization

So to overcome this, if you use a CRM solution, you can easily organize the data and the communication between you and your customers.

It helps you Focus on your key Customers

Of course, it is an accepted fact that “All Customers are Equal”, but some Customers do provide more revenue to your business and hence they need better attention than others. When you use a CRM you can quickly identify your high priority Customers and you can serve them better.

Give them a little Extra Value

Despite the low customer sentiments and budgets, if you give them viagra online no prior prescription little extra than what they expect, you are winning the customers’ loyalty for the long term. It’s not difficult to add value fake cialis pictures to what you provide. A simple phone call during their birthday, or their festival could add that human touch to business. A CRM Solution provides a reminder facility, which you can use to keep yourself organized and make sure you catch up

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with all your customers.

This is one thing which I thought is most common and people do it using a CRM. But if you have better ways, you are welcome to share it here.

Cut down on Activities that Add Burden to your Budget,

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but don’t Serve any Purpose

When you implement a CRM you will be able to identify lot of unnecessary activities that add

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viagra dose in pulmonary hypertension to the overhead and the costs. Identify, Cut down and yet deliver the value to customers.

Reward those who Perform BETTER and Not LESS during Recession

Recession is all about performing better and not less. When you perform better, you automatically beat recession. A CRM Solution provides Reports & Analytics that you can generate for every employee. Once you generate them, compare and reward your best performers.

It’s all about Reaping the benefits when the Recession is over

Most organizations forget the long-term, while creating strategies to tackle the short-term recession. Though it is mandatory to survive the recession, if you can spare some profit and invest it in the long-term, you can definitely go a long way. But you need to strike a balance between the long-term and short-term. So, if you do not have a CRM, I would suggest the time is ripe to invest and reap the benefits in the long-term.

After all, “It is better to be first in the mind than to be first in the marketplace” and “The most powerful concept in marketing is owning a word in the prospect’s mind”.

If you think you are one the organizations that have done better during this recession or you have experimented with creative marketing strategies and have shone well, do share a few tips for the benefit of others.

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