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What smart companies are beginning to realize that a CRM is a single-solution that’s sole purpose is to be a central point for all of the departments in your business. As a result, and as long as your CRM has the most up to date data entered can deliver a greater return on investment. A CRM Knowledge-base software is one example of a single solution that can be organized and tailored for many user groups helping companies meet multiple business objectives. For example, a CRM knowledge base can assist sales staff with the sales journey of potential clients, support sales and marketing teams; assist help desk staff; directly address customers questions via customer self-service and provide up to date financial reporting for business management.  Using a CRM knowledge-base solution for your business is a great example of getting a many-for-one deal out of a single solution. However, this is only a good value if your users buy in to it. Your CRM should be kept up to date by everyone that uses it to ensure that you are getting a return on your investment.

A truly integrated system that leverages customer intelligence with organizational knowledge leads to a maintainable competitive advantage. Combining knowledge management with your CRM is always a smart choice for the following reasons:

Improved productivity

While responding to customer requests via your CRM, your employees can have access to commonly asked answers and company information directly from your knowledge management system. This eliminates research time, conferencing with other employees and switching between applications while customers wait. It also eliminates the need for staff to copy and past what could be outdated information from other sources which may no longer be relevant.

Reduce monotonous tasks

In your CRM system, your cases can be updated with information learned during each resolution, and solutions to repetitive issues can be converted into articles in your company’s knowledge base.

Improve customer satisfaction

Customers visiting your company’s website can find self-service capabilities via a search function of your knowledge base or through interacting you’re your websites FAQs which can pin point their problems to an appropriate response. Customers who can’t find resolutions or answers this way can be quickly routed to a live agent via a chat function on your website. New cases can be automatically generated by the system to alert your agents.

Increased effectiveness

 With reports that provide a clear amount of feedback, you will be able to keep track of how many calls, emails and questions that have been resolved with solutions from the knowledge base and which issues are most active and repetitive. This form of real-time accountability gives you the control to respond to customer needs, build knowledge where it is suitable, and track the efficiency and productivity of customer service employees.

Traditionally CRMs have always been mostly about keeping management on top of things and less about empowering the companies sales team. In that way CRMs have been the very spirit of the top-down order.

This may work for fine for some companies where management is able to call upon IT experts for the purpose of acquiring a system that will help management get an overview of sales results.

Looking at the bigger picture, a CRMs should allow every single user, especially the sales staff that use and rely on the knowledge and data of the CRM greater value in to be able to perform their jobs.

It is a small but important fact that the more data you put into your CRM the more beneficial your CRM software is to you and your business.

An up to date CRM can provide every team in your business the knowledge that that they need to be able to reach any set KPI’s. The more data that is available the better the knowledge power your CRM has and the more it can make predictions for you as well as reporting on the past.

This comes from updating data like setting your targets for sales, activities, revenue and financial targets.

All that information that you input into your CRM is analysed and presented to you in visually statistics to help you recognize the patterns that historically brought your business success. This will allow you to plan your marketing and sales campaigns in advance. Your CRM system will also learn your way of working and pick up on details and make analyses to be able to guide you in moving forward.

In return for your updates you will receive important information that would probably take you about a week to calculate manually. And after that week you would have to start over again because you only got a snap shot of what was the reality at that specific moment you were calculating for.

Your CRM should be to provide you with on-going, real time updates provided that the data in your CRM is up to date. The information from these reports can also display what is required from you and your sales team to reach your sales targets.

Knowledge that your CRM has on your previous sales, how you got the sales, the length of the sales journey and who your customers are is information that is more than valuable in making new sales and seeing where your customers are on their sales journey, how you got those customers and how close you are to your sales targets.

Your CRM can also provide you with business financial knowledge meaning you no longer need to wait for your accountant to have any reports ready for you. Based on the previous entered information in your CRM, it is able to provide you with what your financial targets where in the past, what they are no, if they are on track and what your financial target should be.

What is the desire your business has and the needs for its CRM system? A CRM is not a one size fits all solution and not all businesses need the knowledge power that others may need. It is important to note down what knowledge power you need your CRM to have and ensure that you are getting the best ROI from your CRM.

Avoid the guesswork, knowledge is power

The aim of the knowledge that your CRM has is to put guesswork and procrastination out of business and provide you with real time accurate data. You are getting the facts regarding what efforts you need to implement to reach your sales and financial targets.

In short your CRM should be able to provide you with knowledge that your business needs to ensure its growth and success that both your sales and customer service team need as well as ensuring that your business is moving forward and not backwards.