A CRM For Your Business?


Published: October 6, 2021

What is a CRM: How and Why Your Small …

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What is a CRM?

CRM is an acronym for Customer Relationship Management (CRM). A CRM system is a computer software program that manages a company’s most precious assets, its data, contacts, customers, or any information that can quantitatively track, manipulate, and scale up to increase the value of an organization through revenue development processes, namely sales. For a business to grow, it needs sales to organically boost its revenue to take care of the firm’s expenses and provide a profit to its owners and meet its short-term and long-term expenditures. CRM’s will keep all data in one uniform place for all organizations to have access to, manage various functions in the organization, and share this data irrespectively to other divisions to operate different segments profitably.

Without such a system in place, the organization will soon be bogged down and will not make quick business decisions due to the dissemination of data in various departments in silos and not shared with other groups will cause a breakdown in communication within these groups. When talking to customers, it is essential that the customer feel they, the organizations are all on the same page. All departments can do this by looking at the same data and what transpired from the last call or visit.

CRMs are designed to solve problems, A central place to have your prospects, leads, customers where everyone on the group has access to this information for quick decision making. This insight is crucial for business building and management.

Now, Who Should Use a CRM?

 Any industry, business, or organization that deals with people, products, or services will need a CRM system. Thus, CRM systems organize a firm’s business process to get the most out of what that firm does and again make a profit for its owners. There are three conventional types of industries to focus on (1) manufacturing, (2) retail (3) service industries or trades, but this is not exclusively just to these alone. There are many industries and more being developed as we speak that can also use a CRM system.

 One way for an organization to learn if a CRM is suitable for their business is to investigate what a CRM system is; what challenges is this software to solve for the organization? Now let’s face it CRMs have not always been with us, so what did merchants business people operate pre-CRMs? Technology, computers, information is in abundance, and having the correct tools of the 21st Century in the workplace will, on the other end, make one’s organization adapt to the new technologies and process of a modern business organization.

So When Should Your Frim Adopt a CRM System?

I have used spreadsheets, other software programs such as Microsoft, and its suite of companion products like Outlook to store my contacts as a marketer. And there are CRM systems that are free for your usage; what they give up as being robustness will supply an organization with a controlled process to view one’s work in a simplistic and easy platform to scale up the information stored in the future. Today, I use HubSpot.

I would suggest researching the various CRMs in the marketplace today, one that fits your organization’s goals and will grow with you as your business grows. CRM software can be likened to the purchase of an automobile, there are different models in the market, and your selection is what is suitable to you and your family is different from your neighbor or other family members, so it is with CRM software. As you experience the usage of a CRM system, you may change many times until you find the solution that is good for your organization,

CRM Evolution

With the evolution of the internet, computers that are affordable by anyone who wants to have one, technologies that can handle the mundane, repetitive tasks of the administration of business acumen, we are now faced with systems through artificial intelligence that think of functions before they appear. According to HubSpot, most systems are complicated and require many man-hours to implement into a working model for the entrepreneur or business. This input as labor limits the effect of the day-to-day operation inputs due to the time it takes to get the CRM system up and run and function at an appropriate speed for the business or operation.

Growing Your Business With a CRM System

Another leader in the CRM industry, Salesforce, gives its input to the growth of firms using CRMs and its usage as much more than a contact management system. Developing relationships with customers and understanding their pain points is done more easily through a CRM system. Now here is how CRMs can assist in growing one’s business. Enclosed are six unique areas in which CRM systems can assist in growing small business organizations.

  1. Customer acquisition: today’s modern businesses invest a lot of capital into purchasing data on their ideal customer. Now that this investment is made, now is the time to prioritize this information and execute the plan of turning prospects into paying customers, but where do you start first? Thus, one of the solutions a CRM system can provide to management is knowing what data is more critical to incorporate into a plan of action to achieve prospect conversion’s ultimate goal.

  2. Being proactive: according to Salesforce, 83% of sales professionals admit a shift in how business is done today. Thus, face-to-face presentations are not done as before. But now, with teleconferencing software such as Zoom over the customary face-to-face presentations. A CRM system can help management identify unique challenges their customers have and provide a solution.
  3. The reduction in the scope of selling: the last twenty-five years have changed the content of sales management, whereas the sales professional now must be more adverse with technology and how to master it with less, and maximize one’s activities as no other time before. The manualization of the past is automation in the present, with a quicker turnaround time. Hence, one can upsell your current database more smoothly due to insights developed within the CRM system that would be harder to see without the automation.
  4. Increased productivity: adopting the right technology within the firm will free up one’s time, which can be better put to use by being with customers more and finding their pain points so that a solution can be found on their behalf. Manualization of specific processes can be eliminated with automation, such as hunting for customer data and implementing the same. The lessening of human resources due to technology and the increase in speed to finish tasks. Thus, the time saved is better utilized in customer development and strengthing relationships to manage solutions better.
  5. Better customer service: Salesforce states seventy-six percent of customers expect consistency in the interactions between departments. And a survey was done in 2020, whereas 52 percent of customers expect their offers to be personalized. Consistency is the new bar to achieve moving forward in business.
  6. Customer retention: visibility throughout all channels could reduce the risk of losing on the fence customers. Be more proactive, and showing the customer, that they matter to the firm is essential in long-term business relationships. The investment in time now will yield strong customer relationships that will pay off with profits for the organization.

Conclusion

A CRM is an excellent tool for all industries to centralize a place of origin for all contacts and company records. Here, the keyword is centralized for a company’s history rather than being scattered in different areas. Thus, it provides all departments access to information that can personalize all interactions between the firm and the contact. A customer expects the vendor they do business with to treat them as individuals rather than just numbers.

As a small business consultant and operator of a marketing agency, it is the agency’s objective to provide business organizations with a methodology to serve their customers better and maintain them. How to gather and store information on their customer base, and how to attract new business through the development of specific sales and marketing methods, and a CRM is the perfect tool in doing so. If the agency can be of service to you and your organization, reach out to us, and the agency shall respond to you as soon as reasonably possible.

I would like to know what you feel about this topic. Please leave comments on this blog, and let’s start a dialogue on the challenges and strategies of using a CRM system.

About the author:

Dr. Donald E. Mitchell holds a doctorate in Entrepreneurship and Business Management works as a Small Business Consultant specializing in alternative financing, digital transformation, digital marketing, e-commerce, website development, and management software. He has offices in Southfield, Michigan, and Chicago, Illinois. His primary focus is on small business organizations.

Methodology

The author’s beliefs are personal and reflect his worldview and experience in the issues and practices mentioned.

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