One of the most important aspects of growing a business is knowing when there is the need for expansion and expansion in the right direction. In most cases, a business which has failed to grow over several years may be lacking a key ingredient in the form of a Customer Relationship Management Software.
While the problem with growth failure can be as a result of the sales team’s inefficiency and ineffectiveness, adopting a CRM software solution can present to you a great way to redefined business and improve your customer retention.
Thinking of getting a CRM software solution? Below are some of the things you need to know.
What is CRM?
CRM is a software which is designed to place all the customer data in a single location where businesses can better and easily access it to improve their customer relations.
A CRM is defined according to TechTarget as “Customer relationship management (CRM) is a term that refers to practices, strategies and technologies that companies use to manage and analyze customer interactions and data throughout the customer lifecycle, with the goal of improving business relationships with customers, assisting in customer retention and driving sales growth.”
As a small business, you may wonder if you need to adopt CRM software, well the short answer is YES! as more than 65% of businesses now adopt CRM Software in their first year. In addition to this, more than half of the top-performing companies in the world have been recorded to have adopted CRM software to boost sales and productivity.
With about 80% of businesses using CRM solutions having been reported to have increased their lead generations, here is how to know that your small business is in need of a CRM software solution.
1. Business is Not As productive as you wanted
When you fail to manage customer information properly due to the use of manual management system, then there is the need to choose an automated approach to customer data management. CRM software are designed to better optimize and automate data entry thus replacing the otherwise long email threads with a simple and single communication interface.
2. When customers are bounced around from one department to another
One of the most important aspects of business is customer satisfaction and this seems to grow increasingly lower when clients are bounced from one department to the other before their requests are finally processed. With CRM software solutions, businesses have better data distribution which helps them better manage clients and their requests thus improving their overall customer satisfaction and engagement.
3. You are having trouble analyzing and leveraging data
One of the basic setbacks businesses face is the multiple storage locations of data. This can wreak untold havoc in some cases and as such, the adoption of the CRM Software for automating data collection provides a one-stop repository for all information needed about clients, contacts, correspondence, interactions and more. With CRM software, businesses are afforded a better means to collect, organize and analyze data for feedback, reviews and decision making process.