Most of the big businesses today use CRM system in business transaction. But for most small to medium scale enterprises (SMEs) CRM is a new trend that is yet to explore. One may wonder what CRM really and how beneficial it is in investing in CRM systems for oneâ€™s business?
In the global age of enterprising, it is important to know the necessary tools to keep up with the competition. Potential markets are getting bigger and even SMEs have the opportunity to compete and get a portion of the untapped market worldwide provided that they have the right tools. According to recent studies, companies that have fully utilized CRM system can increase sales by 29%. However, like any other business system. it is also important to understand the basic information that goes with it so one can gain the full benefits of the system.
By definition, customer relationship management or CRM is the set of practices, strategies and technologies that companies use to manage record and evaluate customer practices in order to drive sales growth by enriching customer relationships with the customer bases. CRM systems are therefore designed to compile customer information on different points of contacts between customers and companies. These data can be used to analyze market trends and customerâ€™s preferences in order for companies to strategize the best sales option package that they can offer the buyers.
A CRM system is probably one of the most valuable systems that any small business can implement since forming and maintaining customer relationships is one of the most important aspects in any business. Building a positive relationship with the customer base is essential in order for the longevity of any business and to keep up with the tough competition today. Below are five of the key benefits of implementing a CRM system for small businesses:
Simplicity of Function
The primary purpose of a CRM system is to streamline all major areas of customer interaction. Any CRM system only needs basic information such as the prospect information, recent communications follow up dates or appointment settings or any other set of actions, and the market value of the opportunity. CRM systems make use of dashboards, analytics and reporting tools in order for business owners to spot patterns and to identify trends so business can run efficiently.
Tracks Important Tasks
CRM systems can also help business ownerâ€™s track down necessary tasks such as meeting customer deadlines which is crucial in keeping the customer happy and satisfied. Many of CRM platforms allow the synching of valuable information such as appointments and important tasks to a calendar and sends the business owner advance email reminders to eliminate guesswork out of the project. In this way, it makes the customers feel more valued and build a deeper relationship with them.
CRM system can help business owners keep track on the progress of their team especially those involved in sales and other customer interfacing people on their workforce. The CRM platform can help prove first hand information into each team memberâ€™s sales statistics including their completion rate. It helps business owners in providing an accurate data for rewarding their employees based on their performance.
Improved Social Media Marketing
Perhaps another important feature of the CRM system is the integration with social media platforms such as Facebook, Twitter, LinkedIn, Instagram and Pinterest which is proved to be advantageous because it allows businesses to track all aspects of their social media campaign. This integration to social media allows business owners to reach out more potential and existing customer base.
Lastly, CRM system also allows business owners to accomplish tasks on any location due to its accessibility by just using Smartphoneâ€™s or tablets. This helps the business team members to improve productivity and get things done regardless of location.
Whatever CRM platform that the small business owners use, the key to implementing them successfully is the full knowledge of its benefits. This will help small business increase the potential of their business by nurturing customer relationships using a valuable system.