Technology comes and goes rapidly. But one business technology with staying power is Customer Relationship Management. It’s evolved to where it is now a mainstay of business, whether you are a multinational corporation or a mom-and-pop business with a few employees. Correctly deployed a CRM system will make your business more efficient, productive, and able to deliver a first-class customer experience. So, let’s take a look at exactly which key benefits CRM now brings with it.
What you will learn in this article
- The sales pitch for CRM
- The 12 key CRM benefits
- How CRM will help your business
- Useful CRM stats
- Getting started with CRM
Every business needs an efficient and optimized way to track and manage its interactions with customers and prospects. CRM is a central point for everything you do. But the best part is that CRM system flags up opportunities you may otherwise have missed. And gives you a heads-up about additional lead nurturing and follow-ups, among a host of other things.
Selecting the right CRM for small businesses – typically a cloud-based CRM – helps you unlock the full potential of your business. Here are 12 ways CRM can help you grow your business, work smarter, and delight customers all at the same time.
12 key CRM benefits
A centralized database
Imagine how much time sales staff will save if they don’t have to wade through hundreds of separate spreadsheets, records and documents to find what they need. A CRM system tames your data by storing it in one location that is easy to access and search. All prospect and customer data are visible to all your teams, ensuring they can quickly and efficiently follow up with prospects and close deals.
All your communications – internal and external – are managed through your CRM. This allows sales staff to track every step of the buyer’s journey, including every email, phone call, web page clicked, and more. In addition, everything is logged, so managing prospects is easier, and records are up to date.
Automated data entry
Keying in routine tasks is a thing of the past. Emails, phone calls, meetings are all automatically logged. In addition, a CRM can automatically handle tasks such as weighting, summation, and visualization, freeing up staff time for other work.
As the CRM system tracks all your moves, it can also remind staff when they need to follow up with a prospect. This means staff can schedule their contact when it will be of maximum benefit to the prospect. This, in turn, significantly raises the chances of conversion.
Organizing contact data
No matter which stage in the buyer’s journey has been reached, CRM will track all the necessary data. For example, a salesperson can see if the contact has downloaded a document from your website and what has already been discussed with other sales team members. Staff can also add their notes and search all of the data.
One of CRM’s greatest superpowers is that it can segment customers. This makes it easier for sales to reach out to a specific group of customers, for example, with a tailor-made offer. You can filter customers by location, company size, or sales funnel stage, etc.
A CRM system allows you to create a wide range of reports about prospects and deals. The reporting functions give you and your staff the ability to automate tasks and better manage contacts, deals, and pipelines. Reports can also be used to track performance, business goals, and the revenue that’s been generated.
Forecasting sales performance
Successful sales strategies are underpinned by informed decisions. With a CRM, you pull up all your critical metrics in real-time, making it simpler for management to see trends and develop performance forecasts. The insights you can obtain will allow leadership to identify the most lucrative lead generators and make any necessary adjustments.
Scaling up processes
The business intelligence obtainable via a CRM system will allow you to see where you can improve business processes. This is particularly important as your business expands and grows. In addition, the data as it is all stored centrally permits sales teams to identify meaningful and actionable patterns quickly.
Better team communications
Good communication within your sales team and across your organization is key to maintaining brand image. It’s also vital for efficient teamwork in reaching quotas. A CRM system is the means to bring about change across the board, including email, which is also integrated.
The same system
As your company grows, there’s no need to chop and change the CRM system you use. A cloud-based CRM will grow with you, scaling up as your company and needs expand. And it’s not just sales that benefit from a CRM; it’s your entire organization.
Routine but time-consuming admin tasks can be automated. While important, automation of back-office tasks frees up time for staff to work on more impactful revenue-generating jobs.
Quotable CRM stats
- 91% – The percentage of businesses with a payroll above 11 now using a CRM system.
- 73% – The average CRM adoption rate among sales reps.
- 30% – How much you can expect your sales to increase by using CRM.
- 13 months – The average Return on Investment period.
Getting started with CRM
Small businesses can benefit equally from CRM as their larger counterparts. Size does not come into it, as every business, big or small, faces the same challenges today: more discerning customers and the need to provide outstanding customer service.
Though you may think CRM is expensive, in reality, a cloud-based CRM is surprisingly cost-efficient for small businesses. This is how many small enterprises are getting on board with CRM.
There are many obvious attractions for small businesses. Cloud CRM is affordable on a per-user basis and can grow alongside your company. The killer question you need to ask is whether you can afford not to have a CRM system given its value and well-documented Return on Investment. Contact us today. We are the cloud CRM specialists for small businesses and will help you realize the benefits of CRM to the max.