top of page

CRM Best Practices Across Numerous Industries Using NetSuite

Writer's picture: Diana SawyerDiana Sawyer

Updated: Aug 27, 2024

Understanding and applying customer relationship management best practices is key to fully leveraging NetSuite as a CRM.
NetSuite’s CRM software is designed to provide businesses with a complete, real-time view of their customers.

Customer Relationship Management (CRM) is at the heart of any successful business strategy. Whether you’re in retail, manufacturing, professional services, or healthcare, managing relationships with clients and customers is crucial for growth and sustainability. NetSuite, a cloud-based enterprise resource planning (ERP) solution, offers a robust CRM module that can be tailored to meet the specific needs of various industries. Understanding and applying customer relationship management best practices is key to fully leveraging NetSuite as a CRM.


In this article, we will explore how different industries can use NetSuite’s CRM capabilities according to CRM best practices, focusing on CRM implementation best practices, client relationship management best practices, and more. By the end, you will gain valuable insights into optimizing NetSuite as a CRM for your industry, ensuring that you align with CRM industry best practices.


Understanding NetSuite as a CRM Platform


Overview of NetSuite CRM

NetSuite’s CRM software is designed to provide businesses with a complete, real-time view of their customers. It encompasses everything from marketing automation, sales force automation (SFA), customer service management, and advanced analytics. Unlike standalone CRM systems, NetSuite CRM is fully integrated with the rest of the NetSuite ERP, ensuring a seamless flow of information across your organization.

The Importance of CRM Best Practices

Implementing CRM practices that align with industry standards is crucial for maximizing the return on investment (ROI) from your CRM system. Customer relationship management best practices ensure that the system is used effectively, improving customer satisfaction, and ultimately driving revenue growth.





NetSuite CRM allows retailers to create personalized shopping experiences by tracking customer purchase history, preferences, and behavior.
CRM Best Practices for Retail Industry

CRM Best Practices for Retail Industry

Industry Overview

The retail industry is fast-paced and customer-centric. The ability to track customer interactions, preferences, and purchase history in real-time is essential for creating personalized shopping experiences, which in turn drives customer loyalty and repeat business.



Key CRM Practices in Retail

Personalization:

  • NetSuite CRM allows retailers to create personalized shopping experiences by tracking customer purchase history, preferences, and behavior. One of the CRM best practices is to use this data to tailor marketing campaigns and product recommendations, ensuring that customers receive relevant offers.

Omnichannel Management:

  • In the retail industry, managing multiple sales channels effectively is critical. NetSuite’s CRM facilitates omnichannel management by consolidating customer data from in-store, online, and mobile interactions. CRM implementation best practices in retail include ensuring that customer profiles are updated in real-time across all channels, providing a consistent experience.

Customer Loyalty Programs:

  • Implementing customer loyalty programs is a customer relationship best practice in retail. NetSuite CRM supports the creation and management of these programs, tracking customer participation and rewarding them based on their engagement.

Real-time Inventory Management:

  • Integrating CRM with inventory management is crucial in retail. NetSuite CRM’s integration with ERP allows for real-time visibility into inventory levels, enabling sales associates to provide accurate information to customers. CRM best practises dictate that this data be used to prevent stockouts and improve customer satisfaction.


Case Study: Big Agnes - Outdoor Retail Industry


Background: Big Agnes, a company known for high-end camping gear, needed to upgrade its e-commerce platform to better serve its customers and stay competitive in the outdoor retail market. The company sought a solution that would enhance its online store capabilities, manage customer interactions more effectively, and improve overall customer satisfaction.


Solution: Big Agnes upgraded to NetSuite SuiteCommerce Advanced, integrated with NetSuite CRM, to enhance its online store and manage customer relationships more effectively. The CRM provided tools for tracking customer behavior online, managing marketing efforts, and providing personalized customer service based on customer data and purchase history.


Results: The integration of NetSuite CRM with their e-commerce platform allowed Big Agnes to provide a seamless shopping experience, leading to increased customer satisfaction and loyalty. The CRM’s capabilities in tracking online behavior and personalizing marketing efforts resulted in a boost in online sales and improved overall customer engagement.





Accurate sales forecasting is critical in manufacturing to align production with demand.
CRM Best Practices for Manufacturing Industry

CRM Best Practices for Manufacturing Industry

Industry Overview

In manufacturing, the focus is often on B2B relationships, where long-term partnerships and complex sales cycles are common. Managing these relationships effectively requires a CRM system that can handle intricate customer data and support a consultative sales approach.



Key CRM Practices in Manufacturing

Account-Based Marketing (ABM):

  • Manufacturing companies often deal with fewer, larger clients. Customer relationship management practices in this industry emphasize the importance of Account-Based Marketing. NetSuite CRM can be used to create detailed profiles of key accounts, tracking interactions, preferences, and contract history.

Sales Forecasting:

  • Accurate sales forecasting is critical in manufacturing to align production with demand. NetSuite’s CRM provides tools for forecasting based on historical sales data, current pipeline, and market trends. CRM implementation best practices include using these forecasts to plan production schedules and inventory management.

Product Lifecycle Management (PLM) Integration:

  • For manufacturers, integrating CRM with Product Lifecycle Management (PLM) is a client relationship management best practice. This allows the sales team to access up-to-date product information, including specifications, pricing, and availability, directly from the CRM system.

Customer Support and Service Management:

  • After-sales support is crucial in manufacturing, where products may require installation, maintenance, or repairs. NetSuite CRM’s service management capabilities ensure that all customer interactions are tracked and managed efficiently, adhering to CRM best practices in the industry.


Case Study: M.S. Walker - Manufacturing Industry


Background: M.S. Walker, a leading distributor, and importer of wines and spirits, operates in the manufacturing industry, particularly focusing on bottling and packaging. The company needed a CRM solution to manage its complex manufacturing processes, sales operations, and distribution channels. They faced challenges in managing production schedules, tracking customer orders, and maintaining inventory levels across multiple locations.


Solution: M.S. Walker implemented NetSuite CRM to streamline its manufacturing processes and improve overall efficiency. The CRM system provided them with tools to manage production schedules, track customer orders in real-time, and maintain accurate inventory levels. This integration allowed for better coordination between manufacturing, sales, and distribution teams, ensuring that customer orders were fulfilled promptly and accurately.


Results: With NetSuite CRM, M.S. Walker achieved significant improvements in their manufacturing operations. The ability to manage production schedules and inventory levels more effectively led to reduced lead times and improved customer satisfaction. The CRM system also enabled better visibility into sales operations, allowing the company to forecast demand more accurately and optimize production planning. As a result, M.S. Walker was able to streamline its manufacturing processes, enhance operational efficiency, and drive business growth in a competitive market.





NetSuite CRM helps track billable hours, manage invoicing, and ensure that clients are billed accurately for the services rendered.
CRM Best Practices for Professional Services

CRM Best Practices for Professional Services

Industry Overview

Professional services firms, such as consulting, legal, and accounting firms, rely heavily on relationships and trust. A robust CRM system helps manage client engagements, track project progress, and ensure client satisfaction.



Key CRM Practices in Professional Services

Client Relationship Management:

  • Building and maintaining strong client relationships is at the core of professional services. Client relationship management best practices include using NetSuite CRM to track all client interactions, ensuring that every team member has access to the latest information on client needs and preferences.

Project Management Integration:

  • NetSuite CRM can be integrated with project management tools to provide a holistic view of client engagements. This is essential for tracking project milestones, deadlines, and deliverables. CRM implementation best practices in professional services involve aligning CRM with project management to ensure that client expectations are met.

Time and Billing Management:

  • In professional services, time is money. NetSuite CRM helps track billable hours, manage invoicing, and ensure that clients are billed accurately for the services rendered. Customer relationship management practices recommend using CRM to streamline the time and billing process, improving both accuracy and client satisfaction.

Client Retention Strategies:

  • Retaining clients is often more cost-effective than acquiring new ones. NetSuite CRM can be used to develop and track client retention strategies, such as regular check-ins, feedback surveys, and loyalty programs. CRM best practises suggest that professional services firms focus on long-term client relationships rather than short-term gains.


Case Study: Sikich LLP - Enhancing Professional Services Operations with NetSuite CRM


Background: Sikich LLP, a professional services firm specializing in accounting, advisory, and technology services, was experiencing challenges in managing its diverse client base and maintaining efficiency across its service lines. The firm needed a robust CRM solution that could centralize client data, streamline project management, and improve overall client engagement.


Solution: To address these challenges, Sikich LLP implemented NetSuite CRM. This solution allowed Sikich to integrate its customer relationship management functions with project management and financial systems. By having a unified view of client interactions and project statuses, the firm could better manage its engagements and enhance client service delivery.


Results:

  • Improved Client Management: Sikich LLP was able to consolidate all client information into a single platform, which improved visibility across teams and departments. This integration led to more informed decision-making and a more personalized client experience.

  • Enhanced Project Management: By integrating NetSuite CRM with project management tools, Sikich improved its ability to track project milestones and resource allocation. This efficiency resulted in more timely project delivery and higher client satisfaction.

  • Streamlined Financial Operations: The integration of CRM with financial systems allowed Sikich to better manage billing and invoicing processes. This streamlined approach reduced errors and ensured accurate billing, thereby improving financial performance and client trust.


Sikich LLP's implementation of NetSuite CRM showcases the platform's ability to enhance client management and operational efficiency in the professional services sector. This case study demonstrates how a well-integrated CRM solution can lead to better project outcomes and stronger client relationships.





NetSuite CRM allows healthcare providers to track patient interactions, medical history, and treatment plans, ensuring that care is personalized and coordinated.
CRM Best Practices for Healthcare Industry

CRM Best Practices for Healthcare Industry

Industry Overview

The healthcare industry faces unique challenges when it comes to managing patient relationships, including strict regulatory requirements, sensitive data handling, and the need for personalized care. A CRM system in healthcare must support these needs while enhancing patient satisfaction and care outcomes.



Key CRM Practices in Healthcare

Patient-Centered Care:

  • A customer relationship best practice in healthcare is to place the patient at the center of care delivery. NetSuite CRM allows healthcare providers to track patient interactions, medical history, and treatment plans, ensuring that care is personalized and coordinated.

Regulatory Compliance:

  • Healthcare providers must comply with regulations such as HIPAA (Health Insurance Portability and Accountability Act). NetSuite CRM’s security features ensure that patient data is protected and that all interactions are logged for compliance purposes. CRM industry best practices in healthcare emphasize the importance of data security and privacy.

Appointment Scheduling and Reminders:

  • Efficient appointment management is crucial in healthcare. NetSuite CRM supports automated appointment scheduling and reminders, reducing no-show rates and improving patient satisfaction. CRM best practises in this area include integrating appointment scheduling with patient communication to keep them informed and engaged.

Patient Communication and Engagement:

  • Regular and clear communication with patients is essential for improving health outcomes. NetSuite CRM can be used to manage patient communication, sending reminders for appointments, follow-ups, and health checks. Client relationship management best practices in healthcare include using CRM to maintain open lines of communication with patients, building trust and loyalty.


Case Study: Foot Levelers - Healthcare Industry


Background: Foot Levelers is a medical device distributor specializing in orthotics and foot care products. The company faced challenges in managing customer relationships and operational efficiencies due to issues with data migration and integration during their initial implementation of NetSuite CRM. These problems hindered their ability to leverage the full potential of the CRM system, affecting their ability to streamline customer interactions and inventory management.


Solution: To address these challenges, Foot Levelers implemented NetSuite CRM more effectively to integrate customer data, streamline operations, and enhance customer relationship management. The CRM system provided them with tools to manage customer interactions, order histories, and preferences more effectively, allowing for better communication and personalized service.


Results: By successfully implementing NetSuite CRM, Foot Levelers improved their customer data management, leading to more effective marketing and communication strategies. They were able to streamline operations and enhance their overall customer experience, which in turn supported their business growth and operational efficiency.





NetSuite CRM can be used to track client investments, risk profiles, and financial goals.
CRM Best Practices for Financial Services

CRM Best Practices for Financial Services

Industry Overview

In the financial services industry, managing client relationships is critical for building trust and ensuring long-term success. Financial institutions need a CRM system that supports regulatory compliance, personalized client management, and effective communication.



Key CRM Practices in Financial Services

Regulatory Compliance:

  • Financial institutions are subject to stringent regulations, including KYC (Know Your Customer) and AML (Anti-Money Laundering). NetSuite CRM’s security features and audit trails help financial institutions meet these requirements, making customer relationship management practices crucial in this industry.

Wealth Management:

  • For investment and wealth management firms, managing client portfolios and relationships is crucial. NetSuite CRM can be used to track client investments, risk profiles, and financial goals. Customer relationship management practices in this sector emphasize the importance of personalized financial advice and regular client communication.

Cross-Selling and Upselling:

  • Financial institutions can leverage NetSuite CRM to identify cross-selling and upselling opportunities. By analyzing client data, financial advisors can offer relevant products and services, increasing revenue. CRM best practises in financial services include using CRM to deepen client relationships and enhance their financial well-being.

Client Communication:

  • Regular communication with clients is essential in financial services. NetSuite CRM supports automated and personalized communication strategies, ensuring that clients are informed about market changes, account updates, and new opportunities. Client relationship management best practices recommend maintaining open lines of communication to build trust and loyalty.


Case Study: T. Rowe Price - Enhancing Client Engagement and Compliance with NetSuite CRM


Background: T. Rowe Price, a global investment management firm, provides a broad range of mutual funds, sub-advisory services, and separate account management for individual and institutional investors. With an extensive client base and strict regulatory requirements, the company faced challenges in managing client relationships efficiently while ensuring compliance across all operations. T. Rowe Price needed a CRM solution that could centralize client data, streamline communications, and improve regulatory compliance.


Solution: To address these challenges, T. Rowe Price implemented NetSuite CRM. The platform enabled the firm to integrate customer relationship management with its financial systems, providing a unified view of client interactions and financial transactions. This integration allowed T. Rowe Price to track client investments, manage communications, and ensure compliance with regulatory requirements more effectively.


Results:

  • Improved Client Engagement: By consolidating all client information in a single system, T. Rowe Price enhanced its ability to provide personalized service. The CRM allowed for better tracking of client interactions and preferences, enabling more targeted communication and engagement strategies.

  • Enhanced Compliance: The CRM's robust security features and audit trails helped T. Rowe Price meet stringent regulatory requirements, such as Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations. This capability reduced the risk of compliance violations and ensured that all client data was handled in accordance with industry standards.

  • Streamlined Operations: The integration of NetSuite CRM with the firm's financial systems streamlined operations, allowing T. Rowe Price to automate routine tasks such as client reporting and compliance checks. This efficiency reduced administrative overhead and allowed staff to focus more on client relationship management and strategic growth initiatives.


The implementation of NetSuite CRM at T. Rowe Price demonstrates how a comprehensive CRM solution can enhance client engagement and ensure compliance in the financial services industry. By leveraging integrated tools and secure data management, the firm was able to strengthen its operations and improve client satisfaction.





NetSuite CRM’s event management features allow organizations to plan, promote, and track events, ensuring that they reach their target audience and achieve their goals.
CRM Best Practices for Non-Profit Organizations

CRM Best Practices for Non-Profit Organizations

Industry Overview

Non-profit organizations often have unique CRM needs, focusing on donor management, volunteer coordination, and event planning. A CRM system in this sector must support these activities while fostering relationships with supporters and stakeholders.



Key CRM Practices in Non-Profit Organizations

Donor Management:

  • Managing donor relationships is a core function of CRM in non-profits. NetSuite CRM allows organizations to track donor history, manage donations, and segment donors for targeted fundraising campaigns. Customer relationship management best practices in non-profits include personalizing communication and recognizing donors’ contributions.

Volunteer Coordination:

  • Volunteers are crucial to the success of many non-profits. NetSuite CRM helps organizations manage volunteer schedules, track hours, and communicate effectively with their volunteer base. CRM practices recommend using CRM to engage volunteers and ensure that their efforts align with the organization’s mission.

Event Management:

  • Non-profits often rely on events to raise funds and awareness. NetSuite CRM’s event management features allow organizations to plan, promote, and track events, ensuring that they reach their target audience and achieve their goals. CRM implementation best practices in non-profits include integrating event management with donor and volunteer management to maximize impact.

Stakeholder Engagement:

  • Engaging with stakeholders, including board members, partners, and community leaders, is essential for non-profits. NetSuite CRM can be used to track interactions, manage relationships, and ensure that stakeholders are kept informed and involved in the organization’s activities. CRM best practices suggest maintaining transparency and open communication with stakeholders to build trust and support.


Case Study: The Leukemia & Lymphoma Society - Improving Donor Management and Operational Efficiency with NetSuite CRM


Background: The Leukemia & Lymphoma Society (LLS) is a leading non-profit organization dedicated to fighting blood cancer. With thousands of donors, fundraising events, and research initiatives, LLS needed a robust CRM system to manage its vast database of supporters, streamline operations, and enhance fundraising efforts. The organization also required a solution that could integrate with its financial systems and provide real-time data on donor contributions and event performance.


Solution: LLS implemented NetSuite CRM to consolidate its donor and event management processes into a single, unified platform. The CRM system enabled LLS to track donor interactions, manage fundraising campaigns, and automate administrative tasks. By integrating NetSuite CRM with its financial systems, LLS was able to gain better visibility into donor contributions, reduce manual data entry, and ensure accurate financial reporting.


Results:

  • Enhanced Donor Management: NetSuite CRM provided LLS with a centralized database of donor information, allowing for more personalized communication and targeted fundraising efforts. The organization was able to segment its donor base more effectively, tailoring outreach efforts to increase engagement and donations.

  • Improved Fundraising Efficiency: The CRM system's automation capabilities streamlined the management of fundraising events, from planning and promotion to tracking attendance and donations. This efficiency allowed LLS to reduce administrative overhead and focus more on its mission-critical activities, such as research funding and patient support.

  • Better Operational Insight: By integrating donor and financial data, NetSuite CRM provided LLS with real-time insights into its fundraising performance. This visibility enabled the organization to make data-driven decisions, optimize fundraising strategies, and ensure transparency and accountability to its stakeholders.


The implementation of NetSuite CRM at The Leukemia & Lymphoma Society demonstrates how non-profit organizations can leverage CRM technology to improve donor management, enhance operational efficiency, and maximize their impact in the fight against disease.



NetSuite CRM is a versatile and powerful tool that can be adapted to meet the unique needs of various industries. Whether you’re in retail, manufacturing, professional services, healthcare, financial services, or non-profits, following CRM best practices is essential for maximizing the benefits of your CRM system.


By understanding and implementing customer relationship management best practices, businesses can improve customer satisfaction, increase efficiency, and drive growth. NetSuite’s CRM capabilities, combined with a commitment to CRM industry best practices, provide a solid foundation for managing client and customer relationships in today’s competitive marketplace.


As industries continue to evolve, staying ahead of CRM trends and continuously refining your strategies will ensure that your business remains responsive, customer-focused, and successful.


Reach out to our team to learn more about pricing and getting demo.

Recent Posts

See All

Comments


bottom of page