How Customer Relations Management (CRM) Can Help Your Business
Customer Relations Management, commonly referred to as CRM, is a key ingredient for companies that want to become more productive and increase profitability.
Experiences are key to any business- A bad review can be enough to deter many potential customers from buying your products or hire your services. Conversely, a great review can be decisive in engaging others.
Today, customers can be nurtured through time and their journey with the company become even more profitable than just that original purchase they did. However, to do this with every single customer, you need assistance. CRMs are an effective way to help this relationship blossom in the first place and continue to grow over time.
Learn more about CRMs below
CRM Software for The Needs of Small & Medium-Sized BusinessesCRMs started out as simple sheets of paper organized in file cabinets in offices. As technology continues to develop, more and more data becomes available and needs a way to be organized into one system.
Microsoft Excel was the tool that once helped engineers, data managers (and ultimately, sales managers) keep track of sales, revenue and profits, as well as keep an accurate record of customer accounts, clients, and any other company the organization was working with. These spreadsheets were the first CRMs, helping managers, CFOs, COOs and CEOs make smart, informed decisions on the direction of the company.
Today, no sales team is complete without a customer relationship management (CRM) system. It is no longer just a way to track customers. CRMs can help keep multiple aspects of your operation running smoothly, from analytics to help desks.
CRM for Small BusinessesWithout a doubt, a company in its beginning stages has different concerns than big businesses. Money can be a bigger issue, yes, but caring for their customers and transforming their leads into sales should also be a priority.
CRMs offer great advantages to small businesses, including:
- Getting to know their customers, their activity with the brand, their interests and purchases, individually.
- Identifying their customers' buying patterns to discover more effective ways of communicating with them.
- Improving their marketing offers, test and tailor campaigns to their users' patterns.
- Finding opportunities to cross-sell or up-sell their products or services
CRM for Big BusinessesAs companies grow, so do benefits. But unfortunately, the challenges faced as a smaller company also become larger:
- The number of costumers increases and knowing their customers and their relationship with the brand's products and services can become a very serious challenge.
- The number of employees increases and physical distance between different offices can become bigger, straining traditional communication practices.
- When companies go international, cultures may become unfamiliar and the identity of a brand can fracture between offices.
- Data grows exponentially and keeping track of every transaction and experience becomes highly more complex.
- Marketing campaigns target very diverse groups of customers, making the process even more complex.
- Processes can become more diverse, even to the point of incompatibility.
CRMs are a way of keeping track of customers, regardless of their location. They can help streamline processes in every office and customize marketing strategies and campaigns to make sure each group can be targeted effectively and have a positive relationship with the brand and its employees. Reports and analytics can be easily customized to track the performance of each sales team, regardless of the country, state or city they operate from.
Overall Benefits of CRM - Visual, Simple & Customizable
CRMs not only help centralize information into one tool, making reports more accurate and up-to-date, but they can also easily integrate with other tools, making the process even simpler.
You can literally run your entire business with this one machine, connect it to your email account, accounting software, email delivery service, and even your call center software.
Interfaces are becoming more user-friendly and no coding knowledge is actually necessary to use them, making them more accessible for any member of the organization.
A CRM is a must-have if you're starting, running, or getting ready to sell a business and need to stay organized. Don't forget to visit the respective cloud computing service websites for the latest updates and free trials of the products.
To discover some of the best CRM systems today, check out PCMag's top CRM picks for 2020. If you wish to consider each software's pros and cons, make sure you check out their Capterra or SoftwareWorld reviews and run comparatives between different CRMs.