Here, we’re going to discuss why CRM (Customer Relationship Management) systems are so important to a small business in helping them be more productive, create better sales funnels, track progress and stay consistent with their communications when it comes to their prospects/clients.
A few of the popular CRM systems include SalesForce, Zoho and Bitrix24, in addition to others that have popped up along the way, but instead of concentrating on the differences between these solutions, we’re going to provide you with more meaningful information – the importance and benefits of CRM.
First, it’s essential to understand this: In today’s ultra-competitive markets, the companies that manage customer relationships the best are more likely to win than those that don’t – and that’s precisely why adoption of modern CRM systems like the aforementioned SalesForce and others such as NetSuite and SugarCRM has skyrocketed in recent years…even amongst SMBs that often lack the resources to adopt enterprise-style technologies.
If you’re still on the fence about implementing a CRM system, it’s worth considering the benefits one offers. Here are five of the biggest:
1. Efficiency – A well-integrated CRM system can replace manual processes that create significant organizational inefficiencies – but CRM systems don’t just create efficiency by reducing the use of inefficient protocols. Due to the ability of popular CRM platforms to integrate with other systems – such as marketing automation tools – the efficiencies of CRM can enable organizations to interact with customers in ways that they wouldn’t have the resources to otherwise.
2. Collaboration – Even amongst small organizations, the entire customer lifecycle is typically too complex to be effectively managed by one person; the use of cloud-based CRM platforms enables employees in multiple departments to more effectively manage their customer relationships and to see the big picture at any given time.
3. Data, Data, Data – For many companies, data is one of the most valuable of strategic assets, and CRM systems house some of the most valuable data. Popular CRM platforms typically offer a variety of “homegrown” and third-party tools that enable organizations to understand their CRM data and learn things about their customers that wouldn’t be possible otherwise. Case in point: SalesForce’s AppExchange offers customers access to dozens of apps that help them make sense of their data and put it to good use.
4. Increased Accountability – CRM systems can help ensure companies do not lack the tools to manage their customer relationships so these customers don’t fall through the cracks; this is accomplished by adding a layer of accountability to the customer relationship management process. A well-implemented CRM system helps identify what went wrong where, who fell short and how to make sure it doesn’t happen again.
5. Improved Customer Experience – Ultimately, the most prominent benefit of CRM systems is that their usage leads to a better overall customer experience – customers are more easily and accurately segmented, their needs identified and, because the status of a company’s relationship with them is accurately tracked, companies can interact with them meaningfully at the right times.
Looking for more and faster sales in addition to higher customer retention and satisfaction? CRM systems are you answer.