Are You Aware, Why You Need A CRM For Your Businesses?
We operate with a global economy that sells, buys, and communicates in myriad ways. Our business competitors are everywhere, as in the modern times the barriers to market entry are low, which in turn increased competitive intensity.
With the growth in technology, eCommerce and the availability of high-speed internet, commoditization is happening all around us with breathtaking speed.
Nevertheless, before reading the article, I would like to caution you that this is not a comprehensive list of reasons as to why you need a CRM. But, this is merely an effort to get you thinking about the value of a CRM and hopefully help you come to the simple realization that if you have a business, then you must need it.
So what is in it for you?
CRM or Customer Relationship Management is a process that helps you to track and analyze all the interactions that you have with your would-be and present customers to keep them happy, while CRM software is a tool that centralizes, secures, simplifies, and scales your customer engagements.
Here are 8 top reasons for implementing CRM in your company:
01. Your Memory Is Not Perfect
I know you may always think that you have everything about your customers stored in your gray cells, but from our experience, we know, it mostly never works.
Well, you may remember and might be able to keep up to 10, 20, or even 50 customers in your head, but as your business grows, there comes a stage when you just cannot track all your customers and prospects and remember all the tasks and events associated with them.
Now, do you really want to limit your business just by what information that you can store in your memory? I guess the answer is a big- NO.
Hence, take the advantage of technology and use it for your business success. With a CRM system, you can store and manage thousands of customers and let your computer handle the task of storing the memory and recall it as per your requirements.
Using CRM your business is never limited by the gray cells that cannot even at times remember where you have left behind your car keys.
02. Emails are decentralized
I was under the impression for many years that my email’s inbox was the ideal solution for reading them. I could filter, search, and read my earlier emails- what more could I want. However, as my inbox was growing in size, finding sent emails became difficult and along with it tracking what I have said to my various clients.
Moreover, when you start employing people in your organization, you will never remember to CC and BB your team on every sent mail. Hence, when communication gets quickly lost, your customers will suffer which will affect your sales and your ROI.
Now you see, suddenly email is not a good solution for us anymore.
This is why you need a CRM, which is a system that puts all the important customer information in one central database. CRM database is easy to upgrade and convenient to see when others are upgrading their customer data, thus making the sales, marketing, support and billing departments remain on the same page.
Therefore, CRM helps you to keep all your customer-related data in one spot, so that nothing gets lost, and you can see and share all your information with other members of your team.
03. You Need Metrics
Are you aware how many successful and unsuccessful projects you had in the past week, months or year? Can you quickly find an answer to measure your conversation and identify the best methods that helped you to reach your customers with absolute certainty?
You can always deceive yourself if you do not have an answer to these questions; by thinking that you can figure out things by your common sense or with some Microsoft Excel spreadsheet formula- but this is just not how business grows.
Metrics are critical to your company’s growth and success.
CRM is a Business Intelligence (BI) software, that can give you instant metrics on a dozen of aspects of your business, with just a few clicks of the mouse.
You can also create custom reports using a CRM, which are specifically created for your needs.
If you use a CRM, all you need to do, is to create your reporting parameters once and then use it forever.
04. Statuses are important
Are you aware of which of your clients are ready for a callback? Do you know which of your prospects were on hold and who is slightly interested in your products or services? A CRM at the most basic level helps you to see these statuses that can help your business and remain top of your sales strategies and goals.
Every time you make a call, contact a customer or send emails you can update your CRM system with the current status and then review and see exactly where each of your leads, prospects, and customers are in your sales pipeline.
Hence using a CRM, you have to no more fearful about following up on cold leads instead of maturing the hot ones.
05. History is important
If you wish to look-back and see everything of a particular contact, the stream of communications that happened between you, your team, and your customers, this is also another reason, why you need a CRM.
Learning the customer’s history will also help you in saving more customers from leaving by catching something that you would have missed otherwise.
06. Predict the future
Every one of us wants to know the future. Although CRM is not a magic crystal ball and so cannot predict the future with 100 percent accuracy, nevertheless if the customer’s histories are stored correctly in the CRM, then the system can extrapolate that data and can reasonably predict your future business based on past events.
Hence using a CRM, you can easily see what is going to happen to your sales pipeline and what kind of business you can expect in the months to come.
07. Never lose your data
Do you store all your data on your laptop? If it is so then the odds are high that you will lose all your information once your laptop gets stolen.
One of the other main benefits of using CRM is that although servers can crash and hard drives may fail, a Web-based CRM like ConvergeHub (The #1 Converged CRM for SMB) and many others lets you effectively protect your information from being lost.
The Final Takeaway: Be Organized
The ultimate reason why you need a CRM is that it organizes all your customer-related inside one system, which helps you to view the big picture of your business.
As having a well-organized business can never be detrimental to your growth and success in your company- get organized and let ConvergeHub help you there.