Why Use CRM Software? 10 Reasons To Get One For Your Company
Regardless of the industry or niche in which you’re operating, building and maintaining quality relationships with customers should remain one of the core factor for your success. This may not be the challenge or priority of a local store that knows exactly who it is dealing with, but as operations grow in complexity and business expands, the need for a digitized solution simply imposes itself.
This explains in brief why CRM solutions came to be one of the leading SaaS software branches in the last years. CRM systems collect and organize your current customer data, but even more importantly – they help you gather such data, and reach out to audiences you had no idea would be interested in your product or service. Based on a simple logic of neat organization and timely promotion, CRMs earned a place in every industry, which is why you may also want to start looking for one yourself.
At the same time, most CRM systems nowadays are hosted in the cloud, and made accessible and easy to maintain even for the smallest business or sole entrepreneur. Let’s take a look why a CRM solution may be worthwhile for your company.
10 Reasons Why You Should Use CRM Software
1. It optimizes your marketing strategy and makes your service more credible
A large portion of our readers looking to compare various CRM solutions are in fact startup companies and low-tier service providers still building up a market profile. This doesn’t come as a surprise knowing how useful CRMs can be to motivate buyers to actually turn to a specific vendor.
How does it work? Companies are constantly performing market research looking to target the ideal customer profile, and CRMs help them understand customers’ behavior and tackle their specific needs. Another important task they perform is to identify the best time to promote and present services to those customers, and use the results of such strategies to further expand the list of prospects. CRM systems also have a positive effect on efficient resource allocation, as businesses relying on reputed software are also the favorites among profitable market groups. Put into perspective, a CRM product will help you target the right leads at the right time and with the right resources.
2. It supports your cross-selling and upselling efforts
The ultimate goal of using a CRM system is always to trigger it for deal closure, which is why the best-of-breed systems always support practices such as upselling and cross-selling. In the upselling case, they draw intelligence from the customer’s current purchase to bring similar products to his attention, and rely on tags and categories you’ve previously inserted. Cross-selling is also a part of the game, where the system tracks a customer’s previous purchases to suggest new products, and to get an idea of what he’ll be looking for. All details are then stored in a centralized database, ideally in an individual customer profile the agent can always turn to and see who he’s dealing with. Basically, a good CRM will be delegated the task of spotting and using opportunities, and will therefore end up boosting your profits.
3. It improves your relationship with current customers
The most important rule when running a customer-focused business is a simple one: you will be successful as long as your customers are satisfied. This is where CRM systems help the most, as they drive your marketing, invoicing, and selling efforts in the right direction. To start with, a CRM will help you organize all customer-related operations, from automated welcoming messages to service and checkout. Being able to understand what they expect from you, you will also decrease their agitation and collect valuable feedback that matters to the future placement of your products and services.
Satisfactory and efficient service delivered at all times and on all channels (email, phone, social media, web forms, surveys, etc.) also guarantees that you will be warmly recommended to customers acquaintances, and grow your customer base using nothing but what you’ve already invested.
4. It turns customer data into revenue intelligence
There is a lot to learn from how your customers accept and evaluate your service, but marketing optimization is by far the most valuable data you will pull out. CRMs simply teach you how to ‘energize’ promotional campaigns, and promote products to unfamiliar audiences that will statistically be interested in them. The powerful standard and custom reports delivered by most CRMs also provide a clear insight on the health of each operation, performance of each agent, and the overall sustainability of your relationship management strategy. Believe it or not, this is the source most successful companies turn to to identify bottlenecks, rather than spending hours analyzing financial data.
5. It identifies and removes inefficient practices
Speaking of the information delivered by CRM systems, we should also explain how it deals with the valuable time businesses lose combining methods to evaluate their customers’ behavior. CRMs consolidate different methods, practices, and tools needed to track customer activity, and finally spare you from double entries and the dull, automated approach customers find so frustrating. With a good system in place, you will eliminate all costly manual errors, and still make each customer feel as if he was the most valuable lead you have at the moment.
6. It makes customer information available to all agents
A part of CRM’s standardized data organizing strategy is to keep all relevant details in a knowledge base from where all agents can access them (in most cases, depending on the roles and permissions they’ve been assigned with). That database is usually cloud-hosted, and all it takes to get there are the right credentials and a good internet connection. As expected, most of today’s popular CRM systems are fully mobile optimized, and thus accessible from all devices, browsers, and operating systems. Some of them also provide dedicated apps for Android and iOS users.
7. It streamlines invoicing
Most of today’s CRMs are equipped with at least some basic financial management tools, and the rationale for it is to stop you from extracting sensitive sales data to a third system. In the perfect scenario, you will be able to create quotes, prepare and send invoices to your customer from the same platform where you’ve completed their order. You can also automate other time and expense-related paperwork, streamline the experience of your customers, and make sure money always arrive on time.
Certain CRM products also integrate with leading payment gateways to help users complete payment and checkout without even abandoning your website/e-store.
8. It tracks the performance of your agents
Many business owners rely on their CRM system to understand how agents are performing, and develop intelligent strategies on how to assign leads and tasks in the future. It is also the CRM system where they understand who are the people available at the moment, and divert inquiries to other departments in case the agent requested is not available. Practically, the CRM makes each employee’s schedule clearly visible, and helps compare who is closing the most or the least of the company’s deals. Recently, CRM developers explore the new and attractive gamification concept that lets admins award top performers with bonuses, points, or even promotions.
9. It manages your social media activity
We can’t deny social media the credit for most of what modern businesses are earning, as platforms such as Facebook, Twitter, Google+ or LinkedIn are an ocean of potential contacts and deal opportunities. At the same time, both large and small businesses find it difficult to maintain an active presence on all of them, and personally respond to all inquiries and questions without losing focus on the rest of their work.
CRMs do a notable job here as well. Most cloud-based CRM solutions of today are tightly integrated to social platforms, and allow you to post automatically and manage all of your profiles from a single platform. Some of them even go as far as to alert you on deadlines and opportunities, or collect all product-related mentions and comments for you to respond on time. For instance, you can adjust the settings of your CRM to depict any desired type of social activity by simply selecting keywords such as ‘customer support’, ‘customer service’, and many more.
10. It is no longer an enterprise-exclusive service
Just a decade ago, powerful CRM systems were considered to be enterprise-exclusive products, which was a reasonable thing to believe with their spinning high prices and complex installations. Luckily, developers saw small businesses as the ideal audience in need of such products, and started working on their cloud-hosted versions that require neither time nor bank-breaking amounts.
It is easy to find a great CRM at a reasonable price nowadays, and at the same time get a confirmation that no recurrent costs or maintenance fees will apply in future. Some of the most solid pieces are even offered for free, which is why we recommend even newly launched businesses to get one and try it out. Currently the leader among free CRMs is HubSpot which offers are really rich package of features at no cost whatsoever. If you’d like to check it you can easily get HubSpot CRM for free here.
How to choose the best CRM application?
1. Pay attention to its contact management features
The most critical part of any CRM system is contact management, so make sure you choose an advanced one that is ‘tweakable’, and able to grow with your business. Consider customization to deliver personalized service to your customers, and opt for the most scalable storage scheme offered.
2. Test customer support in advance
There is little chance that your introduction to the system will go by without questions, so examine whether customer support is actually worth the money you’re paying for it. When buying a CRM tool, you’re buying a commitment to a company, so ensure they will be there for you at any moment. Ideally, they should be accessible 24/7 and using several communication channels (phone, email, live support, social media).
3. Check out integrations
In the best scenario, you will get yourself an open API system that can function in any software ecosystem, and therefore requires minimal adjustment to adopt. If this is not the case, however, check the list of integrations offered by the vendor, and look in particular for prominent social networks, ERP, customer service, and payment gateway systems.Category: B2B News