Do Small Businesses need CRM?
You may be surprised to know that only 10% of companies across the globe use some kind of CRM software. Many think that small businesses do not require a CRM application. However on the contrary, we feel that they are the ones who need it the most. The reason for this is that customers engaging small and medium enterprises are demanding and also require a personal touch so that they can turn into a long term customer. Moreover, small businesses are always in need of identifying and converting new sales opportunities simultaneously. A CRM application helps in organizing all information and takes the business to new heights.
If you are still tracking your customer in worksheets or you aren’t even doing that, it’s time to seriously think of implementing a basic CRM system. The solution would not only help you to organize your leads, customers and other business partners in a searchable manner, but will also help you to track their orders, invoice and communication you have had with them. There are other benefits which accrue with time as your business grows.
Top Benefits of using a CRM
In jargon free terms, the main advantages of implementing the solution are as follows
1. Higher deal win rates – The solution helps you to analyze which deals are your best shot and also shows you the history of why you lost a deal earlier with the client. This helps you to identify where you / your sales team need to concentrate to strike a higher deal rate.
2. Higher Sales Team Productivity – CRM servers to be a single platform for all activities and by having a better collaboration and streamlined flow of communication among the team members you can shorten the sales cycle.
3. Promotions and Campaigning – Your physical reach may be limited but CRM can help you acquire new customers using Marketing Automation features which help you to attract new customers every day. You can also know which channel is driving business and which are not so that you can accordingly refine your marketing strategy.
4. Cross Selling – Are you making the most out of your existing customers? You can inform them over an email physical reach may be limited but CRM can help you acquire new customers using Marketing Automation features which help you to attract new customers every day.
5. Enhanced Customer Support – A CRM solution can help you track customer issues and assign it in an optimized manner. This ensures that you never have any situation which goes out of proportion and impacts your business in a wrong manner.
6. Prioritization and Optimization – Have you ever wondered where you current focus should be at this instance. The solution does just that. With every user having their dashboard of to do things, it helps the users to make the most use of their capabilities. Automated workflows and alerts can help in ensuring that people get the right information without delays, thus making your company centered towards the customer.
Does CRM need to be costly?
Not really. World class open source CRM solution like SugarCRM and VTiger are freely downloadable from internet. If your computer knowledge is limited, you may get a simple CRM solution with some basic training on how to use it within $ 500. However when your business volume and your requirements grow, you may want to put some more money into it.
How can we help?
We work for your immediate and long term success. Our CRM consultants analyze your business processes and map them on leading platforms. We help you enhance the application to meet your organizational needs. For instance if you want to use CRM for your Ordering to Invoicing solution, we can help customize it in a way that it generates Invoices and posts it in your accounting software.
If you liked our article, you may also like to view the following related content which we are sure you would love as well.
i. Top KPIs for Salesforce Automation – This article makes you aware of what companies typically try to achieve when implementing CRM for their sales team. Read the article here
ii. Three simple ways to increase your chances when implementing CRM– This article gives three simple steps you can take to increase your success rate by 60%! Read the article here