Customer relationship management (CRM) is essential for businesses to survive in their industry. Companies need to do everything they can to attract new customers and keep existing ones satisfied and happy. In this scenario, good quality CRM software solutions can help businesses achieve their CRM goals and objectives. You may ask why is a CRM system important? This article answers the question by providing you with the advantage of CRM software and how your company can benefit from investing in a suitable solution.
The global CRM software market was expected to top $40 billion in 2018 and reach double that amount by 2025. The reason this industry is going at a good pace is because businesses realize the value of moving on from outdated spreadsheets to more sophisticated software solutions to manage their customers. If you are still on the fence or are hesitating to spend your precious money on CRM software, read on to learn about the key features and benefits of these types of systems and then make your decision.
The first answer to the question why is a CRM system important is it enables you to register your contacts and leads. Your leads may not be ready to buy your product immediately, so it is important to keep them warm. You can start by organizing your contacts and customers into basic categories to manage your data efficiently. For instance, you can use categories such as inactive customers, influencers, potential partners, partners, suppliers, prospects, lost customers etc. Plus, you can divide customers into A, B, and C categories depending on the retention programs you use for each group.
If you need more information on what does a CRM system do check out our other article on this topic.
Your sales reps can use the CRM software to engage with prospects and customers in a more organized and efficient manner as they can have access to the interaction history with them. Sales reps would be able to quickly identify each customer’s needs and tailor their pitch suitably to make the customer feel important. Plus, they can build a profitable long-term relationship with the customer using this history. Therefore, it is important to store customer interaction emails in the CRM system and not in each rep’s mailbox.
A large number of prospects may have said no to your pitch. Don’t take this as their final answer, rather treat it as “not today”. Keep these prospects and leads in your CRM database and target them with effective seminar plans and email marketing strategies to nurture them over the long term and gain their business in the future.
Customer data is invaluable for your company. Without a CRM system, if a sales rep leaves your company he or she may not leave behind anything. They may have stored all customer data locally without registering and updating important contacts and the sales pipeline. Therefore, invest in a CRM solution to ensure vital customer data stays with your company even if your sales reps move on.
The main reason is you can’t depend on your brain to store all customer data and their associated events and tasks. Depending on your memory or spreadsheets will limit your business expansion. In contrast, a CRM system can store and manage hundreds of customers and you should use this superior technology for business success.
To start, your inbox can become full quickly and you may run out of storage space. Plus, you may find it difficult to track sent emails and communication with various customers.
Plus, you may forget to CC or BCC your employees in important emails. Your team may be based in diverse locations and you may lose important communications. A CRM system is superior to email as it stores all customer information in a single location where it can be easily accessed and updated. You can ensure nothing falls through the cracks as you can view and share vital client data with your team members.
It can offer details about the successful projects your company has executed in the past week, month, and year. Plus, it can quickly provide your conversion ration as well as the best means to engage your customers. If you use spreadsheets, you may bungle by making errors. A CRM system is a better option as it provides instant metrics on all business aspects without you having to do anything. You can also create custom reports to track metrics and get actionable insights.
It is important to know which customers are ready to receive a quick callback. Plus, you can make your sales strategies more effective if you know which prospects and leads express interest in your products or services. A CRM solution helps you see these statuses. You can update the system with the current status after you make a call, send an email, or contact a prospect or lead. This will enable you to view where each prospect and lead is in the buying journey. The main advantage is you can focus on following up with hot leads instead on wasting your time on cold ones.
You can communicate with your employees and compare notes and customer data. Healthy competition among sales reps is good for your business. Top CRM solutions offer sales goals and leaderboards that you can use to stage inter-office competitions to find out which reps can get the most leads and close more deals. You can build these competitions and leader boards over time to boost your business. Reward the high-performing reps with suitable goodies so that everyone wins when your business is successful.
If you use calendars, memo books, notepads and other systems to store and track your data, you run the risk of losing them. If you store all information on a laptop, your business will suffer if someone steals the device. How can a CRM system protect your data? You can opt for a cloud-hosted solution that provides regular backups so that your data is secure at all times. The big advantage is you don’t have to worry about hard drive or server crashes in your office premises. Plus, you can access and use your data from anywhere, anytime, using any internet-ready device.
You may use different systems to manage your calendar, tasks, email and other aspects. But this will not give you the big picture. How can a CRM system help to organize your business? It gives you the big picture as you can organize all your business info in one central system. The platform integrates your calendars, tasks, emails and more in one easily managed and maintained location. You can access this info from anywhere. This integrated business organization can provide you useful insights about your business processes and operations.
Now that you have learned about the numerous benefits and advantages a good quality CRM system can offer to your business, let’s take a look at the top 3 CRM solutions in our database and their unique features:
Pipedrive has been designed by sales professionals and hardcore web app developers. The app helps you to organize your leads and offers an insightful overview of your sales which allows you to focus on priority deals. You can set up your account as well as other crucial operations quickly and easily.
Pipedrive is a user-friendly app for sales reps as it is fully mobile optimized. Plus, you can seamlessly integrate it with Google Contacts, Google Calendar and other Google apps as well as with other leading third-party business applications. Top features include email integration, contact history, multi-language, 24/7 support, and powerful API.
HubSpot CRM is designed to help sales reps function effectively without making drastic changes to their existing workflow. This solution is ideal for companies that are investing in a CRM system for the first time as well as for enterprises that have not been able to utilize their existing CRM platform to its full potential.
HubSpotCRM is an easy and smart product that offers all the essential basic features without confusing users with complex and needless bells and whistles. These essential features include email connections, company database, social media, phone integration, and email integration. Companies and users can benefit from the fact that HubSpot CRM is a certified, premier Google partner. This solution is suitable for businesses in all industries and niches.
For more HubSpot alternatives check out our other article on reliable CRMs.
Freshsales is part of the Freshdesk suite of products and this CRM solution was created by the parent company to fulfill its need for a single product that could manage multiple aspects of the sales process. The highlight of Freshsales is it offers all the functions of legacy CRM platforms and also provides its own unique way to boost sales and prioritize pipeline opportunities.
Freshsales stands out among the competition because it is designed to be a dynamic analytic contributor that reveals deep sales insights and also gives hints to companies on how to benefit from these insights. The app offers crucial sales performance capabilities and for these reasons it is used by numerous top global brands. Key features include calendar sync, email scheduling, call history, activity timeline, and role-based access.
We hope this article has convinced you about the numerous benefits and advantages offered by CRM solutions. You should keep yourself updated about the latest trends in the CRM industry to make effective use of the software. Feel free to share your feedback on this article as well as creative ways in which your company may be using CRM software to boost sales and revenue.
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