Small businesses often learn to do more with less than their larger counterparts. By devising innovative solutions that don’t require huge outlays of capital, many small business owners are able to stay nimble and competitive despite having access to fewer resources than huge corporations. Sometimes, however, improvised fixes for problems fall too far short of the mainstream solution to be effective.
Take managing your customer relationships, for example. Small businesses sometimes believe that they can devise a system for marketing to leads, maintaining current customer satisfaction and luring back former clients without a formal technological solution. In truth, however, a customer relationship management system–also known as a CRM system–has huge benefits for small businesses that can’t be achieved through alternate methods. Here are five key advantages that implementing a CRM system can bestow upon your small business.
Better customer relations and improved customer satisfaction
Keeping your customers happy and satisfied is key for maintaining long-term and profitable client relationships. One of the biggest benefits of utilizing a CRM is in the area of customer relations. A CRM allows your business to organize the variety of ways in which your employees interact with your customers, from marketing and selling to customer support and service. By tracking ongoing interactions with a customer, a CRM system will allow you to provide more individualized and responsive service to your clients, reducing customer complaints and increasing customer loyalty. Any feedback that you receive from customers can also be collated and analyzed, allowing your business to be more sympathetic to the needs of your customer base as a whole.
Stronger internal communication
Ultimately, properly serving your business’ customers is dependent upon the ability of your employees to effectively communicate with one another. For example, if a sales employee learns of an issue that a customer is having with a product, adequately delivering that message to the appropriate support agent is key to keeping the customer satisfied and retaining business. A CRM allows employees to easily and seamlessly share customer data across different departments, promoting the ability for colleagues in separate areas to work together better as a team. This teamwork forms the basis of an integrated customer response, allowing for better client service and increased profitability.
Because a CRM allows you to track the responses and activities of potential leads and current customers alike, this type of system allows your business to better understand the needs and desires of your customer base. Appreciation of the times that leads are more receptive to marketing as well as the ability to categorize different customers into groups based on profitability are only some of the insights that a CRM can provide in relation to your marketing efforts. In turn, this greater knowledge will enable you to craft more effective marketing campaigns as you optimize your business’ marketing resources to aim at leads that are most likely to become customers.
More efficient cross-selling and upselling
For many small businesses, upselling more expensive products and services to new customers as well as cross-selling related products to existing customers are key ways that a sales team can generate more revenue. Upselling and cross-selling are strategies that rely on a deep understanding of the customer’s needs, wants and purchase patterns. The most effective way to organize this information and provide it clearly and concisely to the sales professionals that rely on it is through the use of a CRM. By storing all customer data in a central database, your small business’ sales team will be able to spot opportunities with customers that will allow them to maximize the effectiveness of their cross-selling and upselling.
Increased customer revenues
In general, all of the benefits of a CRM system come down to one key factor: increased customer revenues. The centralized information and streamlined data that a CRM provides can bolster your company’s revenue generation in a number of ways. Marketing campaigns can be targeted more effectively. Rather than continuously directing promotions at customers who are already firm buyers of your products, the insights into your client base that a CRM can provide allow you to ensure that product promotions are aimed at new or infrequent customers, increasing the positive effects on your customer revenue. In short, by allowing you to understand your customers better, a CRM will allow your business to respond to your clients’ needs in a way that can increase revenue.
Do you think that your small business might benefit from implementing a CRM system? The experts at Denver’s 24uNet can help you understand your options and find the CRM system best suited to your employees’ needs. Contact us today at (303) 468 or -5515sales@24uNet.com to learn more about our services.