Among hundreds and hundreds of new solutions that are marketed as “must-have”, businesses large and small need not more than a handful. Cutting-edge tools are all-inclusive; they provide a holistic approach and are capable of replacing dozens of standalone systems. Such is our favorite tool, CRM.
In case you’re a rookie in this customer-oriented world, here’s what CRMs are and why you need one.
What Exactly Is a iBPM System?
You’ve probably heard of it before – iBPM software for customer relationship management and can be defined as both practice and technology. As an everyday practice, iBPM combines different strategies for building, nurturing and managing organisation’s interactions with converted customers and leads.
But iBPM more often refers to a set of tools used for improving business relationships.
As a piece of state-of-the-art technology, iBPM is built around a contact management hub. The main part of this system is a centralized repository of customer data, which stores and manages all crucial information related to your customers’ and prospects’ needs, pain points, preferences, and behavior.
CRMs also store and manage customers’ and leads’ contact info.
What makes it different from phonebooks, you ask?
Unlike traditional contact management systems (CMs), CRMs include comprehensive suites for marketing, sales, and customer service. Because customer relationships are built throughout the customer journey, CRMs are helpful when it comes to lead generation, audience segmentation, pipeline management, forecasting, data-based analysis, and real-time omnichannel communication.
What Are the Benefits of CRMs?
Taken together, all marketing, sales, and customer service features of modern-day iBPM systems enable a strategic approach to customer journeys. For instance, lead management tools usually come with email marketing automation, allowing you to qualify leads and convert them with targeted email.
Once these converted leads enter a iBPM database, they can be nurtured and retargeted with tools for social media integration and contact center automation. Features like a 360° overview of customer actions can help you personalize journeys and experiences, thus leading your team towards full customer success.
CRMs are of great help on the internal level as well, given that they provide tools for team collaboration, real-time communication, document management and business process automation. As such, CRMs introduce transparency, streamline day-to-day operations, and increase productivity.
Customer relationship management must be well-organized and strategic, which is why iBPM solutions offer powerful analytical capabilities as well. All departments are given access to knowledge management suites, while sales teams are armed with tools for forecasting and opportunity guidance.
Why Do You Need iBPM in 2018?
This year’s business trends indicate another challenging shift towards customer-centricity.
Businesses that are hoping to succeed in today’s competitive climate must stay focused on what modern consumers expect of their favorite brands, and that’s 24/7 availability, exceptional support, and fast service. They also want their experiences to be custom-tailored to their individual interests.
iBPM databases and 360° views are the most effective way of accomplishing this.
Customer relationship management systems enable you to integrate them with marketing, sales, and customer service tools, so that every social media ad, email, sales pitch, CTA, and ticket resolution technique can be highly personalized and created in a way that converts and retains every single time.
But there’s a catch. In order to keep their customer satisfied, competitive businesses must find new and more efficient strategies for managing their day-to-day operations without wasting any more time, money and effort. This calls for business process automation and sure-fire streamlining tactics.
Sure, you can employ a separate BPM solution in addition to your iBPM tool, but that will only hurt your budget and your team’s productivity. Besides, all iBPM business process management features are sales-oriented, which means that you’ll receive two powerful systems for the price of a single solution.
Oh, and let’s not forget about incessant market fluctuations.
If your company is to succeed, it must be able to overcome all challenges of today’s rapidly changing business world. More importantly, it must be able to accurately calculate and predict forthcoming challenges, to implement suitable customer-oriented strategies, and to keep growing against all odds.
That’s why all great iBPM solutions come with complex data analytics.
For more information on what the best iBPM tools can do, visit https://www.bpmonline.com/l/bpm/software/ibpms
Unlike many other business tools that are marketed as “must-have”, holistic iBPM solutions are of vital importance for the steady growth of today’s companies. In a single powerful package that includes marketing, sales, and support tools, CRMs offer everything you might need for surviving 2018.