Customer Relationship Management (CRM) software has become more affordable and accessible to smaller businesses in the past decade. As a result, it is being used more and has proven itself invaluable in increasing the success of a business by maintaining and facilitating relationships with current and prospective customers and in turn increasing sales.
While some companies deem the software as unnecessary, those that actually use it report an increase in profits and efficiency overall. The following are ways that CRM software can benefit your small business.
1. Increases sales opportunities
Most important to people who operate a small business is the ability for CRM software to impact their sales opportunities. The software is capable of analyzing behaviors and other customer data and provide an accurate report based on this information. The user can then determine who the best customers are and concentrate more on them.
The software also makes upselling easy as you can access a customer’s purchasing habits and allow you to make suggestions based on them. Automated messages based on a customer’s account can be sent allowing a user to create a targeted campaign based on past purchases, possible needs, and interests.
2. Keeps you organized
CRM provides a user with a snapshot of all pertinent information about a current or prospective client. Gone are the days when you would need a filing cabinet or numerous spreadsheets to keep track of information. CRM software offers a method where everything is electronic, secure, and right at your fingertips when you need it. The software includes separate screens for campaigns, logs, and client communication. This saves you from wading through the clutter of numerous programs to get the information you need as CRM software brings it all together.
The application can also be easily synced with existing programs such as accounting software to gain insight into past trends and forecast for the future. The scheduling feature in the software will ensure each employee is cognizant of events such as deadlines, meetings, and shipments (incoming and outgoing), guaranteeing everyone is on the same page.
3. Allows you to analyze data
An important feature of CRM software is its ability to consolidate data in ways that allow you to spot patterns, behaviors, and trends. You can then use this data to compose campaigns that target specific clients and alter strategies that are not working as expected. The software is efficient in giving a snapshot of what type of customer provides the most business for the company and composes a profile of the “ideal” client based on comparable characteristics.
If the user only needs information based on certain determinants, these factors can be specified so only they are reflected in a report. The constant data collection that CRM encourages allows the user to perfect the way they deal with customers on an ongoing basis.
4. Improve customer service
CRM software can improve the customer service capabilities of a small business exponentially if utilized. The software includes a feature where the user can keep track of all interactions with clients so it is known which ones have been contacted and which ones needed to be contacted for a follow-up. The user can then update the status as well as where the client is in the sales process. CRM software is also effective in monitoring social media interactions of current and prospective clients.
When someone mentions the company in the form of a like, dislike, comment, mention, or share, the user is alerted through the software and can then respond in a timely manner. All interactions are taken from every popular social media platform and put into one feed for ease of use.