5 Benefits Of CRM Software for SMBs
Customer experience in today’s business world is becoming central to the success and longevity of any brand. According to a report from Oracle, 97 percent of organizations stated that enhancing customer experiences is critical to a brand’s success. So, there has been a massive power shift from the hands of the head honchos to customers. In the disrupting business landscape, leaders now understand the power of customer autonomy.
CRM applications are known to increase revenue by 41% per salesperson, drive lead conversion rates to improve over 300%, and decrease sales and marketing costs by 23%.
Customer Relationship Management is a system, if implemented properly, will help your brand achieve all its financial as well as personal goals. Here are some reasons SMBs can accelerate growth with the help of CRM.
Effective data management
In today’s data-driven market, every customer action needs to be identified, documented, and recorded. To do this effectively, you need to move beyond the sticky-notes, spreadsheets and manual processes. A CRM system consists of a centralized database, replacing manual processes, and negating any occurrence of organizational inefficiencies. With a CRM in place, not only you can consolidate and track all customer interactions in an organized manner, but also automate repetitive tasks to save significant amount of time. Since data stored is stored in the cloud, sales and marketing teams can access information directly any time, from anywhere. This adds a real edge to virtual workforces and multinational teams; providing easy access that scales as your business grows.
Every lead is valuable whether it’s a cold or a hot lead. CRM helps to track incoming leads, hot leads, task flow, customer interactions, follow-ups and converted leads.Therefore, it encourages smart prospecting and facilitates effective lead management, helping you to identify and improve hotspots in the work set up workflow.
Being a centralized repository of all customer data, CRM allows access to the same consumer data, making it possible for all employees to provide a similar and consistent level of customer service. Different departments such as sales and marketing share a common CRM platform, enabling better understanding and coordination among employees. This helps organizations to function in a more cohesive manner and also drives better engagement with the clients.
Right decision making
A well-informed manager with access to real-time data can make adjustments quickly to react to market trends. CRM allows you to cull accurate insights from real-time and on-location data through forecast and predictive analytics, which not only speeds up your decision-making process but also alerts you to any potential business opportunities. This means you can instantly fine tune your strategies or tactics to take advantage of an opportunity or avert a crisis.
Cloud-based and mobile CRM applications enable your employees to work without being tied to a desktop, an office desk or office servers. These CRMs provide access to real time data, instant report creation and collaboration with internal teams, prospects and clients on-the-go. Moreover, it delivers frequent and actionable customer insights, which can greatly increase team productivity.
Undoubtedly, CRM is a business game changer and its role as a strategic business enabler can positively fuel a business’s competitive edge.
[Disclaimer: The views expressed in this article are solely those of the authors and do not necessarily represent or reflect the views of Trivone Media Network's or that of CXOToday's.]
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