7 Reasons Why Small and Medium Businesses needs a CRM system
Customer Relationship Management (CRM) system has always been considered a major investment for big businesses, but not anymore. With the drastic change in market shares small and medium scale businesses are growing to their optimal level. With the growth of a business, maintaining good customer relations is often not everyone’s strongest suit. Businesses tend to fail to scale their growth, and this impacts their customer relationships simultaneously. You run a business without your customer’s satisfaction, and you will outrun your business soon.
According to authorize.net, “9 of 10 larger businesses use CRM software, while 1 in 3 small businesses do.”
Customer Relationship Management (CRM) platforms enable you to build and maintain powerful, sustainable, and meaningful relationships with your customers. It is an intelligent and integrated platform for sales, marketing, and support functionalities of your business. Also, CRM enables data centralization, data consolidation, tracking and managing customer engagements, communications across multiple channels which results in improving your customer relations.
Here’s 7 reasons why we think your business needs a CRM today:
Lets you optimize your Marketing Strategies
CRMs allow you to focus on your customers and their behaviors which can be a great asset for your marketing campaigns. You can launch personalized marketing campaigns for your customers which has a huge ROI. You can use SMS campaigns, email campaigns, and many other means of marketing with the help of CRM with valuable content based on your customers. Also, it provides you analytics of your marketing and sales which shows progress that you are making and what you can do to optimize your marketing.
Reduces manual processes to increase operational efficiency
CRM automates different operational processes like lead management, conversion tracking, sales tracking, etc. within an organization and reduces manual operations to a great extent. For example, if you are a clothing brand and have many customers visiting your store and website, manually keeping a record of your customer data will be tedious. CRM allows you to keep track of your footfall data, website traffic, and social media engagements within a few clicks. Reducing such manual processes lead to an increase in operational efficiency as automated tasks are faster and effective.
Gives a 360-degree view of your customers’ preferences, behaviors, and activities
As CRM is all about customers, it provides a valuable 360-degree view of their behaviors, meaning their buying decisions, trends, and preferences. Whether it be a large business or small and medium businesses (SMBs) customers are the only key to success. There are a lot of speculations going on for analyzing what customers want. For this, there should be a proper analysis of what customers are looking for, what they are interested in, and how they respond to sales and marketing campaigns.
“Recent studies show that companies with a fully utilized CRM system can increase sales by 29%.”- Forbes
Integrates effortlessly with social media platforms
Modern CRMs integrate seamlessly social media platforms such as Facebook, Instagram, and LinkedIn to help you provide an unbeatable omnichannel experience to customers. This means that instead of waiting for customers to come to you, you can take your business to where the customers are and provide instant value to them. Moreover, a CRM’s advanced reporting features allow you to track campaign insights that help you improve your social communications.
Keeps your data secure and running
Businesses that are not utilizing data to their full potential are missing out on a major chain of growth. Companies such as Microsoft invest millions of dollars on their CRMs to ensure businesses can rely on the system to protect their data at any cost and provide real-time backup. This is where partners such as Agile Solutions come in; we invest our time and resources to deploy, maintain and support security solutions for your business so that you don’t have to worry about the vulnerability of your data.
Improves reporting and data insights
Reporting is one of CRM’s greatest strengths as it comes built-in with an intelligent data-driven reporting module that is both interactive and customizable. What this means is that you get full-fledged insights on your customers, sales, marketing campaigns, and finances at your fingertips even without investing in any third-party addons. With robust reporting, you can get strong business insights and make actionable decisions when they matter the most.
One of the biggest misconceptions about a CRM revolves around its affordability – that small and medium businesses are scared to even consider implementing it for pricing reasons. The fact is, there are reasonably priced and affordable CRMs out there that cater especially to SMBs and their scale of operations. With cloud-based CRMs such as Dynamics 365, you can not only fully harness the power of the cloud but also pay only for the resources you need and use. Remember that CRMs are racehorses that offer a sustained return in investment and a gradual increase in revenue.
SMBs are highly recommended to use CRM, as it is capable of improving customer service practices. It helps your staff and business to respond to your customers quickly and provide customer satisfaction. Also, ensure that your customer relationship is well managed.