Customer Relationship Managment Within Construction Industry Industry CRM
Construction is one of the oldest industries where brand and experience rule. The industry is highly sensitive to the whims of the economy and historically has not integrated customer relationship management (CRM) into its traditional practices. But that is changing.
With tough economic conditions facing the construction industry there is a sharp focus on better ways to track and manage the sales process. Companies are finding that the old way of obtaining business is not effective in today’s market.
According to industry studies, there is still confusion about CRM and how it can be used in the construction industry.
CRM is a broad term to describe programs and software designed to manage customers and business development. CRM software captures and profiles relevant information on customers, rather than doing this manually on handwritten records and spreadsheets.
When used properly, CRM helps standardize the sales process and methodology. It also provides management with the following tracking pipeline:
- Projects being bid.
- Sales status and progress of each project.
- Bid due date.
- Personnel responsible for key actions.
- Last activity completed.
CRM allows key information on customers, subcontractors, architects, banks, general contractors and competitors to be accessible at the click of a keyboard.
Many construction firms still overlook the importance of maintaining stakeholder relationships. As rules get tougher in a competitive marketplace, the caliber of an organization’s customer relationship management could give it an edge.