Today, even small businesses or startups are trusting the CRM software to be nimble, manage risks, and improve efficiency because it is important for their survival and success. Without a fully featured CRM platform, businesses cannot expect to be on top of ever-evolving customer preferences and provide customized experiences that customers now expect. Having a reliable CRM allows businesses to respond to new opportunities. Automated processes improve overall productivity and empower professionals to focus on building relationships than managing manual processes.
While every business in every industry requires CRM System, the way it is used and the type of advantages it provides varies from industry to industry. So, this blog is dedicated to explaining top CRM examples used across various industries.
CRM for Automotive Industry
The automotive industry is a tricky industry where how people purchase and get ownership of cars is evolving constantly. Furthermore, it is also observed that younger people are decreasingly inclined to purchase cars. An automotive CRM ensures one such platform that allows you to gain better control of their data and ensure the experiences that customers can expect.
Selling direct has emerged as one of the most reliable platforms in the market, allowing manufacturers to gain better control of their brands. If brands get a 360-degree view of their customer details, manufacturers are no longer 100% relying on dealers. At the same time, car dealer CRM allows dealerships to better comprehend customers, carry out focused and targeted marketing, and add overall value to customer relationships.
Automotive CRM platforms open doors to a range of opportunities. You can design and introduce new car ownership models such as subscription and car sharing. The key insights from such a CRM can put you in the position that allows you to create a vast used car marketplace for your brand. It provides service deals and part bundles and utilize technology to aid the customers choose the characteristics they really need.
CRM for Consumer Products
Those were the old times when CPG companies (Consumer Packaged Goods) would take years to launch their new product and then enjoy a long relaxation period as their competitors play catch up. Nowadays, fast prototyping is extremely necessary. However, it is also significant for companies to identify the right products, with the relevant characteristics, and in the right volumes. Companies who become successful stay highly focused on a diverse range of customer choices. Such brands guide customers throughout their journey, specifically what they want, where they want to buy, how much they are willing to pay money, and what data they need to make the final decision.
A modern CRM system for CPG companies provides deep insights into existing customer behavior. Not only that, but it also helps brands predict future customer preferences and make key strategic decisions. The real-time data, deep customer insights, and predictive analytics empower CPG brands to compete more effectively and quickly respond to market fluctuations.
CRM for Fashion Industry
The fashion industry is extremely fast and volatile. Brands who still rely on manual processes struggle to keep up. Right from the catwalk to the discount bin, the clock is always ticking. Is it possible to deliver personalized services on a large scale? With an effective CRM platform, it might be possible. Like other industries, it equips the brands with the right data and insights to deliver top-level customer service. This is quite important since around 86% of fashion companies report that they would be willing to pay more for higher-level customer experience.
- See: Recognize the root causes of exception, find origin of issues, and remove silos across other platforms such as Enterprise Resource Planning, Order Management, and Resource Management.
- Decide: Leverage scenario-driven modelling and supply chain analytics to generate predictive and reactive alerts, examine the impact of exceptional conditions, and gain a better understanding of issues and prioritize them as they emerge.
- Act: Ensure more effective and quicker decision-making as per the centralized view of the customer data with micro-level visibility, which streamlines the supply chain.
CRM for Insurance
If you consider insurance policy as a commodity product, then it is quite likely that you are missing out on opportunities. It is important to keep in mind that price is not the only reason that drives insurance decisions. In fact, a recent study has showcased that around half of consumers are willing to pay a higher premium for insurance that provides additional services. With insurance CRM, you can get the insights, so you need to mark the services that are most vital for customers.
An insurance purchase is not as exciting as purchasing a new car or going on a vacation. However, even unengaged customers can be converted into loyal customers and brand advocates when they are provided with a customized and consistent omnichannel experience. To ensure stellar experience, you require an advanced CRM system for insurance that is personalized to particular processes and industry workflows. Your CRM provides detailed guidance for quotes, particular rental, auto, property, travel, life, and event insurance. It allows customers to get the coverage they require— fast, and simple.
The CRM must also make it simple for customers to compare various products and leverage collaborative and self-service features. By streamlining purchasing processes and meeting customer requirements, you can substantially reduce the abandoned quotation applications and enhance your sales and wallet share.
Manufacturing CRM
To achieve success in the customer-based marketplaces, it is important for manufacturers to think beyond one-size-fits-all mass production. They now must engage customers in a customized way. In order to do that, they require in-depth, timely insights into customer requirements. A manufacturing CRM ensures a holistic view of the customers, making it possible to set up solutions at the right budget, and in the volume that the customer expects.
Manufacturing enables you to engage channel partners, customers, and distributors across the vast manufacturing lifecycle to ensure seamless experience that is compelling and consistent for B2B customers. Approximately 80% of executives report that customer experience is extremely significant. So, it is clear that manufacturers need to go beyond platform capabilities and prices.
It is imperative to keep in mind that customer experience does not end when a sale is completed. The aftermarket is actually more profitable than the OEM market, reportedly 4-5 times larger than the OEM business. Manufacturing CRM can provide you with in-depth insights you need to understand the complete sold product lifespan including repairs, support, installations, upgrades, managing inspections, training, add-on, personalization, etc. This allows you to compete effectively with global third-party vendors for additional revenue sources.
Public Sector CRM
It is a myth to think that only customers and brands need to care about engagement. If you look at it from a certain perspective, then citizens living in the city are not so different than the customers in a brand. Government and public sector units can monitor, assess, and streamline their journey to ensure most optimal outcomes. Gauging overall satisfaction of citizens can allow the government to have a better idea about what they need to do to get re-elected.
Around sixty percent of businesses consider improving customer experience as their number one priority. One of the determining factors that ensure a seamless and efficient citizen experience is technology. Modern citizens are becoming accustomed to self-service interactions anywhere, anytime, and on any device. A CRM for the public sector can empower governments to design digital services that meet citizens’ needs.
Citizens nowadays want their data to be more secure and accessible. They also want consistent experience across diverse platforms be it web-based, social, or through a mobile app. In turn, governments expect a single source of truth regarding their citizens so that they can ensure efficient services, more cost-effectiveness and less errors.
A CRM for Public Sector can make the work of the government a lot simpler, delivering processes, technology, and systems to align with the evolving requirements of a generation that is more tech-savvy. Other advanced technologies such as IoT have given rise to smart city plans that have revolutionized the modern urban landscape.
CRM for Retail
To say that the retail industry has massively evolved over the years would be an understatement. Furthermore, the transformation is still ongoing at a phenomenal speed. The future of shopping will be defined by retailers that are adopting creative technology and ensuring compelling, personal, and awe-inspiring experiences.
CRM for retail is a platform that empowers retailers to ensure highly customized experiences that customers care about. With customer data smoothly managed by the platform, retailers would be in a much better position to identify, assess, and predict unspoken needs and take strategic decisions based on actionable data. One of the important examples is the introduction of loyalty programs. When retailers are equipped with the right data, they can ensure customized and timely offers within the context of customer shopping activities.
CRM for High-Tech Landscape
If one thing is true about the technological landscape, then it is the fact that nothing is ever constant. You need an efficient system in place that helps you to retain the customers that you have worked hard to onboard. It will not be possible to strengthen customer relationships when they no longer go through a linear journey or begin their exploration by contacting a sales representative. A SaaS CRM will enable you to engage customers consistently throughout their journey, bridge back-end and front-end departments, and utilize data and automation to deliver professional-level customer experiences.
Top high-tech companies have already transitioned to advanced CRM software to simplify their operations. One of the advantages of CRM is the fact that it helps tech companies interact with customers when they want, where they want, and how they want. With a sophisticated CRM platform powered with AI-driven plugins, tech companies can ensure that cross-functional teams have a centralized database to work with. This enables much better coordination, highly customized offers, and more upselling opportunities.
The rich data is extracted from a variety of sources such as email, social media, phone, and web. It allows tech businesses to create and manage records automatically, improve data accuracy, and get a bird’s eye view on customer preferences. In this way, not only can they deliver personalized experiences but also introduce differentiators that make them stand apart. In future, the growing influence of AI on CRM can allow tech companies to get a fully automated and state-of-art CRM that can take their efficiency to the next level and guide customer communication effectively.
CRM for Travel Industry
In the digitized landscape, customers have more expectations from their travel experience. They expect travel brands to reach out to them in moments that matter. This also includes times of crisis when things do not go according to the plan and when arrangements go sideways. By integrating a CRM for travel agencies, travel brands can emphasize more on the key facets of travel journeys, ranging from researching and booking destinations to traveling as well as post-travel follow-up.
Modern CRM platforms can provide travel agencies with all of the platforms they need to ensure real-time and customized experiences with their customers, during, before, and after travel. Gen Zs and millennials travel a lot, and customized conversations are extremely important. Not only that; they want the entire experience to be more user-centric. They want travel agencies to meet their needs, solve their pain points, hear user feedback, and address issues. The brands that benefit from travel CRM are more effectively positioned to meet and go beyond expectations, in all key moments of the travel.
CRM for Utilities
Customers anticipate smooth and customized experiences in each aspect of their routine lives, including conversations with utilities providers. A straightforward digital presence with simple account functionalities and a call center is no longer adequate for utilities providers. With CRM for utilities, organizations can enhance satisfaction, drive loyalty, and minimize costs by more effectively addressing each customer and meeting their requirements in new ways.
With a CRM, utilities providers can focus a lot more on customer experience; utility companies can leverage advanced analytics to help them design cutting-edge programmes. For instance, they can implement an opt-in program that ensures customized mobile alerts to customers to minimize energy consumptions at the time of peak periods. They can even give an offer of discounted billing periods for customers who successfully minimize consumption. As utility companies aim to meet the utility requirements of the world, often under tricky circumstances, such innovation can be important.
Conclusion
CRM systems have emerged as a pivotal platform for businesses across each sector, from automative dealership to government agencies. The best CRM platform allows businesses to move beyond transactional relationships and ensure data-based and meaningful customer experiences. Irrespective of whether you are handling insurance policies, retail loyalty programs, or manufacturing supply chains, industry-specific CRM platforms deliver the tools required to effectively compete in today’s marketplace. Success needs choosing a platform that aligns with the workflows of your industry, incorporate smoothly with the present platforms, and scales with your business growth. Investing the right CRM platforms impacts customer retention directly, as well as improves revenue growth and operational efficiency.
