The digital space has enabled customers to get ample information and gain considerable insight into their choices. This makes it vital for businesses to constantly improve their strategies for marketing and customer retention. While businesses have already implemented existing digital marketing techniques in the market, it is important to constantly upgrade to maintain the edge.
Companies are now moving on to using software that can not only be used for marketing, but also for customer data analytics like tracking customer updates, monitoring performance goals and predicting customer needs. And we all know that attracting customers needs understanding them first. Here is where CRM (Customer Relationship Management) comes in.
CRM refers to the strategies that a business implements in order to boost sales and profit by better engaging with its existing and potential customers. CRM software is a system/solution that enables enterprises and organizations manage their business relationships, analyses customer interactions and handle the data associated with the same. It is a business development tool that helps companies grow by creating smart marketing strategies to accelerate sales. In 2017, the research and IT advisory firm, Gartner, predicted that CRM will be the biggest enterprise software spending by the year 2021.
Let’s look into some of the advantages of CRM software, which may drive you to implement it in your company –
Retain your customers:
CRM software tracks and records everything – right from prospect to the acquisition. This will enable your business to notice trends in customer needs and understand how your business can improve to better fulfill customer needs. By doing so, you can enhance customer loyalty and your prospects of landing more customers.
CRM keeps track of the relevant data of past transactions, which will help analyses and predict future purchases so that the business can accordingly implement its marketing techniques. This is imperative for converting your marketing leads into sales.
Get those routine operations automated:
Unlike spreadsheets where huge data entry even for perfunctory tasks is mandatory, CRM minimizes it. Data in CRM will be separated, updated and maintained efficiently and accurately.
Traditional marketing software will take longer to automate than your CRM, which makes it a disadvantage. Using an automated CRM software will help you identify potential users faster and accelerate your sales that much quicker.
Improve internal collaboration:
Sharing user data across departments will enable your organisation to better work as a team and improve collaboration. Accessing data and making decisions is a lot easier with organised software. Each department will be able to access and extract information from their domains, which are efficiently separated in the CRM.
Communication between your teams is improved as well, since sharing data between domains and discussing customer needs increases collaboration and promotes a healthy relationship between employees.
Make way for innovation:
Accurate forecast of production and sales will help the marketing and sales of your company to innovate and bring about the necessary changes needed for profit growth.
For example, getting insights on customer (potential) data will also mean that your teams can look into the responsiveness of different customers and create solutions to engage the non-responsive users.
Work from anywhere:
Now get your work done from anywhere; as CRM software can be downloaded for offline access too. Be it your mobile phone or a remote server, access data anywhere you want and across departments. If you’re travelling for an important client meeting and need to make last-minute sales updates, that’s possible too.
Know the current trend – CRM on the cloud:
Like every other software in the industry today, CRM has migrated to the cloud too. Having your CRM software on the cloud has a number of advantages. For one, there’s increased security. CRMs manage a lot of sensitive customer data, so it is vital that the data is not prone to unwanted access. Then comes ease of installation. You need not spend on the hardware or the servers, which will save you quite a lot. The database is centralized and can be accessed by your respective teams at any time they want to. It is compatible with third-party applications too. So it is highly advisable that if you are looking to implement CRM, you do it on the cloud.
Here’s list of some of the best CRM software in the market, based on the size of the business you own:
- Nimble: Nimble can be implemented for small businesses, again. It provides features like Sales and Marketing Automation, Contact Management, people and company business intelligence and more.
- Sales force CRM: It is a cloud-based and is one of the best in the market. From workflow automation to advanced analytics, it has them all. It is suited for both large and small businesses alike since it has editions for both.
- Zoho CRM: It is mainly suited for small enterprises and businesses. Although it doesn’t provide extensive automation, it is quite simple to implement and is economical too.
- Hubspot CRM: Hubspot CRM is best suited for very small enterprises and businesses. It is very economical and offers much functionality. Keeping the above options in mind, you can decide on what CRM to implement in your company based on initial investment, user experience and what kind of operations in your business you are looking to automate. Businesses, big and small are implementing CRM to get that extra edge. Making the right choice will go a long way in increasing sales and becoming profitable.