CRM (Customer Relationship Management) is no longer an unknown term today. Many business organizations have leveraged this technology in order to generate more profits and revenue. It is a myth that small businesses cannot afford CRM. Thanks to the cloud technology, almost every major CRM solution is available as SaaS (Software as a Service). Small businesses do not have to outright purchase the CRM solution. They can use the CRM simply by paying a monthly subscription fee. Hence today’s CRM usage has become affordable, even for small businesses. We look at how using CRM can help small businesses.
Customized as per the unique requirements of a small business
Small businesses span the entire spectrum of industry verticals. In other words, different small businesses have different needs. Certain CRM solutions allow you to customize practically anything so that small business owners can view the data critical to their businesses.
Keep pace with competitors
Most businesses are using CRM nowadays. A small business cannot rely on manual processes as they have become obsolete. Using a quality CRM signals that your small business is abreast with the latest technological practices. Also, small businesses can compete effectively with other small businesses and even large businesses by virtue of using a CRM solutions.
High ROI (Return on Investment)
Implementation of a CRM in a small business enables better collaboration, ability to access customer information easily from desktops as well as mobiles, and more convenient to connect to customers on social media. The ultimate result is high returns for the amount spent as well as slashing down sales costs significantly.
Leverage the power and popularity of social media
Social media is a great opportunity to deliver innovative customer service. Many users of social networking platforms expect businesses to respond to business related queries and request on that platform itself. Modern CRM software is linked to popular social media sites and thus, small businesses are aware of customer perceptions; whether it be positive or negative.
Boost operational productivity
Small businesses can harness CRM software to capture critical details from client relationships, monitor the results of marketing outreach campaigns and help avoid service issues from spiraling out of control.
Better conversion of existing leads
CRM solutions help centralize customer database and obtain a 360 degrees view of interactions with customers. The sales team is empowered with instant access to real-time insights of sales opportunities. Solutions can automate all task management processes including following up on leads, closing sales deals on time and ensuring superior service deliverance. All these functions significantly boost customer retention rates.
Small businesses should not implement just any CRM solution. Examine the CRM system for ease of learning and operating, whether it integrates well with other existing systems of the enterprise and if it delivers real time reports. Systematic training and periodic revisions are necessary to make sure that small business staff know how to operate the CRM well and harness its full capability. In short, how well a small business uses its CRM as well as the quality of the relevant CRM plays a major role in determining business success.