CRM with Blockchain Technology

What Is CRM?

CRM - It stands for Customer Relationship Management, The word alone explains the use of CRM, and who will use the CRM?. Yes CRM is used for business purpose only.  Wherever a business deals with its customer, CRM will become the most useful system for such business. 

What CRM Actually Does?

In CRM, a business can store the customer details as KYC, Status of Sales Pipelines, Prospect details, Sales opportunities, Reports, Email Automations, Lead Management and lot more details !

For any business, there will be a customer base, either it may be a big or low in volume. When there is a change in sales funnel, it should be properly updated, and should be transparent to everyone inside the organization. A CRM System can fulfill all the above. 

Inside the CRM panel a business could do the following basic things

1. Can Properly manage their customer details with valid details
2. Can identify who are valid and invalid customer details
3. Can track the customer interest and can identify in which point they are lagging to purchasea poduct from your company.
4. Customer interest can help us to identify the problems based on that a business can decide how to upgrade their products.
5. Easily to manage lead tracking system, so that the internal sales and marketing team can identify the lead status details.
6. Can generate Sales pipeline data reports.
7. Can identify the sales funnel strength.
8. Integrate Email Automations
9. Generate overall Sales reports
And etc.

Challenges and Risks in CRM :

There are two types of challenges in CRM 

1. Business Challenges in CRM

This would be comes under the concept of business challenges while integrating CRM for a organization or company

2. Challenges while implementing CRM

This would be explains the risks and challenges while maintaining the CRM for a organization.

Business Challenges in CRM

CRM is useful for both B2C and B2B business companies, As per the report of buyerzone,  There were around 56% of Business to Business Companies have Used CRM in 2012. 

Apart from the collecting and tracking the customer details, Businesses faces some other changes while implementing CRM. 

1. Making Employees to Adopt With Cultural Changes
CRM Is a tool that could help a business for improving the marketing strategies. CRM should be often optimized with changing marketing approaches. A lot of companies have fail to face proper results as they refuse to optimize their CRM solutions. A company which adopt CRM must change from production -oriented culture to customer - centric culture. We could easy do this with CRM softwares, but making the employee to diverge into different approach will be a challenge for a company. 

2. Workflow Changes Complexity

When implementing CRM for a business it requires significant time and training. Because making every departments and employees to understand the CRM workflow, and optimizing it across the organization will  take a huge process for a company which is on good going. 
This kind of process could affect the company work flow and production flow. 

Get to know more about Blockchain in CRM at this article : Blockchain In CRM