CRM software is not meant only for large organisations, even small businesses can benefit from it. In fact, small businesses would need it more, thanks to the powerful benefits it offers. CRM helps your sales and marketing team understand your customers better. This will help you manage your relationship with customers better. Apart from managing relationships, there are many other benefits you can get from a CRM. We list seven powerful benefits of using a CRM.
Seven ways a CRM can help your business
1) Improved customer relationship
A CRM is meant to improve customer relationship management and that is the prime benefit the software offers. With a lot of business happening online, the sales team do not personally know customers. It is vital that they understand customers better by keeping track of all interactions with customers. This is where a CRM can help with effective data collection and management.
The CRM offers data to the sales and marketing team that empowers them. The data will help your team know the customer better. This would help them deal with customers better. They can offer personalised solutions and services to customers. This will help you in establishing a strong and long-term relationship with your customers.
2) Enhanced customer service
In today’s competitive world, customers will move away if they are not happy. Service is the differentiator between a successful organisation and one that struggles. If you can offer the best service to customers, you can retain them and make them loyal customers. Here is where a CRM will help. You can offer better service and do it faster, so your customers are happy. Studies show that 64% of customers expect on-time service responses.
Using a CRM allows you to automate customer service. You can use AI-powered chatbots to ensure customers get a quick response to their queries. You can streamline all conversations with customers in one place from different channels. This is the best way of knowing their needs and providing better service.
3) Improved business processes
You need to make your business efficient to succeed. Inefficiency can drastically hurt your bottom line. When you use a CRM, it helps you improve the business processes. This has a direct and positive result on your efficiency. It helps make you lean, so you can add value to customers through all your processes. A CRM helps you automate processes, so you can become efficient.
A key benefit a CRM offers is integrating all the tools that you use in one place. This allows employees to use software tools better without having to constantly switch between tools. With a CRM, you are clear about your business process and that will show in the results. It ensures processes are streamlined, so you get consistent results.
4) Increase in revenue
The ultimate aim of every business is to make a profit. For this to happen, you need to boost your revenue and a CRM can help you in this. When you strengthen your relationship with customers and provide better service, you can expect repeated business from them. Loyal customers will also bring you new business. All this translates to increased revenue.
A CRM will also help your sales team increase their conversions. They can manage leads better and achieve their targets in a structured way. This will help you improve customer acquisition. It also helps you identify opportunities to cross-sell to customers, so you can boost revenue.
5) Targeted marketing
If you want your marketing to be effective, you need to target it better. Segmenting customers is vital for this. When you use a CRM, you will know your customers better. This will help you build a profile of the customer. Such a profile will help you segment customers, so the marketing team can carry out targeted marketing. This not only reduces your marketing expenses but helps you get better results.
A CRM collects customer data and reveals insights to you. It helps you personalise the customer journey. This will help you improve your engagement with customers. Above all, you can automate marketing tasks helping you be more efficient.
6) Use of analytics
A study shows that nearly 70% of customer data collected by organisations is unused. A CRM will help you use the data in the best possible way. When you use a CRM, it collects data from various sources. The CRM has an analytics feature that will analyse the data for you and present it in such a way that you gain insights. It will deepen your understanding of your customers, so you can improve your relationship with them.
You can also identify gaps in the market and identify potential markets better thanks to the analytic reports. The analytics feature of a CRM is a boon for managers, who can plan marketing and sales activities in a more focused way. A CRM translates raw data into structured reports that add value to your operations.
7) Improved communication
A key element needed for success is communication. You not only need to communicate better with customers but must have robust communication. The CRM has in-built features to help you communicate better with customers. Email, chat, and many other options can be integrated. Since it helps you track customer communication, you can get a clear picture of all interactions with customers.
A CRM helps streamline your business processes. The automation features it offers ensures all activities are done through the software. This will help your team members communicate better. Everyone would be on the same page, so the team can be united in presenting the brand to the customer.
Now that you have seen the benefits a CRM can offer, you would have understood how powerful it is. In today’s competitive market, it is vital that you develop a strong relationship with customers. It is all the more required for small businesses that need to work harder to succeed. This is where a CRM can help you, and you must consider using it to grow your business.