Friday, 12 February 2016

Top 5 Reasons Why CRM Is Important For SMBs

A Customer Relationship Management (CRM) system is a technological solution for businesses to bring and streamline various business functions like sales, marketing, accounting on a single platform. Handling numerous activities and operations like finance, employee management, etc. separately and keeping a track of all at the same time becomes a hurdle for any business who wants to quickly achieve its goals. That's when the qualities of a CRM system would sound like music to ears of any entrepreneur.

In the last decade, a major shift in use of a CRM software has been noted among organizations (especially small enterprises). It is expected to surpass the Enterprise Resource Planning as the largest grossing enterprise software sub-segment, and is already the fastest growing 'type' of business software. Capterra also predicted it to be a $36 billion market by 2017.

As CRM systems continue to grow in popularity world over, it is important to understand how it can help small and medium-sized organizations in improving business operations, workplace productivity and lead to better relationship management.

Here are some of the top ways a CRM can benefit SMBs:

  • Acts as a 'One-Stop Shop' to Improve Operational Efficiency: In the absence of a well-defined CRM system, communication and collaboration can be a challenge for employees belonging to different departments. This where a customer relationship management software can help by acting as a single platform where all business functions can work together. One of the biggest benefits of a CRM system is the simplicity and ease of use. A software that is designed well and is user-friendly can  facilitate day to day operational tasks; even  for those employees with limited technical expertise. CRM customization services  that include integration with other accounting or document management solutions can also be opted for. Apart from that, many enterprises are going digital  to utilize cloud-based CRM technology.
  • Provides A Consolidated Database: A CRM can aggregate data and information from various business functions of an enterprise. Having a centralized database helps companies act faster on the information and make informed business decisions quickly. A finance guy can directly view the total number of sales done by the sales team in a  month or a sales team personnel can check the revenue received from the sales made by them. An advanced and adaptive dashboard of the CRM continually displays all the records or activities that have been/to be performed by the employees. Adding to it, CRM also keeps your database secured online as well as on-premise.

  • Simplifies Marketing Operations: SMBs no longer have to deal with customer data that is scattered across Word documents and Excel spreadsheets. A CRM system helps to automate the customer life-cycle process of a business. The sales and marketing team can work collaboratively to acquire new customers, follow-up with their requirements or queries, convert the prospects into sales, maintain customer relationships, resolve the complaints and retain them. Leads, tasks, contacts, reminders and other such  automated features assist the marketing team to keep up with timely customer service and support. However, with the growing social media trends, it is important for every business to create its online presence so the customers can stay updated about them. Many enterprises have also begun to use social media integrated CRM softwares to interact with the customer hub online.
  • Facilitates Team Collaboration: CRM software provides internal chat facility for the employees to communicate internally. In start-ups or those firms with geographically dispersed teams, this functionality is a blessing.As opposed to overusing email for discussion, a quick chat message can resolve basic queries. Some advanced chat features also include the capability to send important information, files or reports and even conduct online meetings to work together on a project. 
  • Ensures Business Growth: CRM software focuses on all the business segments and not just marketing. It automates the work procedures regarding sales, teamwork, customer relationships, payrolls, company accounts and provides operational flexibility to all the employees. With the real-time analytics, the enterprises can focus on right areas to increase profits, customer satisfaction and business growth.
Thus, it is clear that a CRM can help SMBs progress in the right direction and streamline all the business activities and track them in a timely manner. Adopt a CRM software for your organization today to experience increased productivity, profitability and effective use of your organizational resources.

Are you struggling to select the right CRM solution for your business? This article on CRM Systems for Small Businesses can help you decide on one.

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