As businesses continue to grow without borders, thanks to implementing the best global CRM software, they have expanded internationally. This poses the problem of managing customer expectations and interest in multiple demographics.
What Is a CRM System?
A Customer Relationship Management system allows businesses to organize and manage customer information. A typical CRM solution provides companies with data about sales management, customer insights, and complete customer interaction histories to better their lead management process. CRM data can help businesses improve their sales, marketing, and customer service departments by focusing more on the customer.
This data is crucial to understanding your customer and how customers respond to your products. As your business expands internationally, a global CRM system can be used to streamline how your business deals with customers all over the world.
What is Global CRM?
Global CRM is the process of strategically applying CRM processes by companies operating in multiple countries, thus dealing with customers that live in these countries. This means that global CRM can incorporate the different business practices of various countries, the competition across multiple target markets, regulatory practices, and other cultural aspects relevant to each nation and its consumers.
The primary purpose of global CRM is to ensure that businesses can serve and benefit optimally in each target market using the power of global CRM. For example, let’s take a business known for dealing with multiple nations in the food industry. This company would have to understand the customer buying patterns of each of the nations they sell in a while also adhering to the local rules and regulations of those countries. This is where global CRM helps businesses out.
Global CRM enables businesses to analyze and implement profitable changes to the company closely. CRM. Sales forecasting, reporting, production scheduling, deliveries, and consistency of customer support are vital areas global CRM helps businesses with. This also enables companies to build sustainable operations in other nations with global CRM.
What is Language Weaver?
Language Weaver is now an on-demand translation system that has 72 different targeted combinations of languages. This global CRM software can be "trained," not just for the idiosyncracies of particular languages but also for specific industries, ensuring that even jargon can survive translation. Since it's on-demand, Language Weaver global CRM is responsible for the computing power needed to complete translations, not individual users.
The numbers bear out the need for this global CRM technology. There are about 350,000 professional translators worldwide, working in all languages, with an average of about 2000 words translated daily. That means there need to be more people and more documents for translation to be performed in every case it's needed and in an economical fashion. Language Weaver can translate as many as 100,000 words in a minute.
How does this have value for global CRM? This feature is valuable to global CRM to bridge the cultural gaps of different markets. If you clicked the "French" button, you were treated to the three articles the company could afford to have translated into French. That's a great way to cause instant offense in your customers when not using global CRM.
Another application for global CRM is in customer service. For example, Intel has many FAQ pages that help its customers integrate and employ its products. It says it provides support in English, French, Spanish, Chinese, Japanese, and Brazilian Portuguese.
But the cost of translation was such that only about 10 percent of the FAQs could be translated - leading to frustrated customers. With the Language Weaver applications, Intel could solve more of its FAQs and help reduce service calls in non-English speaking territories due to the use of global CRM.
Benefits of Global CRM
Here are some unique benefits of implementing global CRM.
Build Better Relationships with Customers
Knowing more about the customer demographics of each market your business operates in will be a gold mine of information. This information would help your company assess which products will perform successfully in each market and which will fail. This would help your business form positive customer relationships and better brand management and product association.
Building trust in your brand is the best outcome for a business by using global CRM. This would improve customers' likelihood of recommending your services to their close acquaintances and retaining their loyalty.
Global CRM, with tools such as Language Weaver, has enabled customers that speak multiple dialects to know more about your product. This way, language isn’t a barrier to trying your services and global CRM can transform the customer experience.
Although global CRM sounds excellent in theory, data management regulations of each country can vary, and your business must take the proper precautions to avoid any trouble. Your global CRM should be flexible to accommodate the regulatory standards of each country you operate in, including handling multiple currencies and languages. Quick retrieval of customer data is possible when using a global CRM, and this information can help your business stay compliant in every nation.
Better Customer Service
If your business implements a global CRM, hiring the right customer support staff to support customers in different markets is vital. Regional sales managers with a deep understanding of the local market and customer segments would be an excellent resource to conquer foreign markets.
Your sales staff should be able to communicate adequately about your products and services to convert more sales. To meet customer needs, special attention would be required to fine-tune your pipeline management and customer service teams.
Selecting the best global CRM for your business is a challenging task. However, global CRM is a worthy cause to help your business reach a bigger audience and build better relationships with different customer demographics. Your customer would be the main focus of global CRM, and this focus is what is going to help your business continue to succeed.
If a global CRM investment is the right move for your business, compare the best CRM vendors to find your right fit.