Advances in technology have made everyday tasks much easier to manage.
For small businesses, new technology and software make administration easier and efficiency more attainable. By making it possible to store all aspects of a business in the cloud, workers are able to organize in a way that was impossible in a world where Post-it notes and whiteboards were the alternatives.
Using customer relationship management (CRM) technology is essential for businesses to engage with their clients. The software can be used to organize sales and marketing efforts, improve customer service tactics and support, implement time management strategies and much more.
The idea of CRM is nothing new. In fact, it has been around as long as people have been making transactions. Ages ago, CRM was simply a sheet of paper used by a businessperson to track sales, manage inventory and keep tabs on customer relations.
Today, CRM technology is a sophisticated twist on that age-old principle. By adding all data to the cloud, companies and employees are able to share, track and analyze all information at any time, from anywhere.
Companies that apply CRM technology to their everyday practice experience numerous benefits, helping them become more productive, efficient and profitable.
Make time management manageable
Time management keeps workers on track, allowing set goals to be reached in a successful manner.
Not knowing how to manage time is detrimental to completing tasks and staying focused. Multi-tasking, while seen by some as a good way to get a lot done quickly, has been proven to make workers less productive (and dumber). Being able to focus on certain tasks for certain periods of time is a much more efficient way of doing business.
CRMs give workers the ability to sync team calendars, making it possible for entire offices and departments to stay on task. The CRM can send out daily task reports based on priority, which will ensure workers are on top of what’s urgent. Thanks to these task reports, forgetting to follow up with clients or, even worse, missing important meetings, are things of the past.
Access important information from anywhere at any time
Instant access is arguably the most desirable feature of modern technology. Back in the day, instant access was a luxury, a chance happening. Now, it is a necessity. Most people feel ignored if they don’t hear back from an email immediately or if a message was seen, but the recipient isn’t yet typing their response.
CRM technology makes it possible for all users to add, access and update information from anywhere at any time. This makes a world of difference for those using the system.
When multiple people are reaching out to new leads or contacting clients, instantly updating the database makes it possible to avoid embarrassing situations like reaching out to the same potential client multiple times with the same message. This is especially true with the growing trend of remote workers.
It wasn’t very long ago that people left their work at the office at the end of the day. If something came up after hours, it had to wait; that is no longer the case.
Acquiring a vast database of leads is useless if they aren’t followed up on or available to the right people.
Garnering new leads is a multi-faceted process that spans content marketing strategies, emailing and newsletter campaigns, advertising and other marketing efforts. Nothing is more important to growing a business than capitalizing on these new leads.
If a new lead comes in or a partnership develops, that information can be shared immediately with the rest of the team. That way, efforts can be planned perfectly to follow up on that lead and the right person can instantly get in touch. No more are the days where business has to wait until Monday morning.
Improved customer service and relationships
This is the most important aspect of implementing CRM technology with any business.
Companies that actively manage the relationships they have with customers have a much higher customer lifetime value (CLV). Customer retention and high CLV are key to running a successful, profitable business that grows organically. The happier the customer, the further they will help spread your product or service to the world.
By cataloguing customers based on their needs and desires, companies will have a much better idea about how to contact them. This helps companies personalize the experience with each and every customer. This also helps boost CLV and customer retention.
Personalizing the business-customer relationship is of the utmost importance. This makes customers feel as if they are much more than simply buyers of a product or users of a service. They feel a connection, a real relationship with the company. By creating a relationship (and being able to properly organize each and every relationship efficiently), a company can almost guarantee to keep their customers from ever straying to the competition.
There are endless success stories out there about companies implementing CRM technology, and the number keeps on growing.
Roeder Studios, social media consultants based in London, is just one of the many small businesses finding CRM technology to be imperative for growth.
Using CRM technology, founder Laura Roeder says she has “decreased the number of emails I send and increased the relevancy of the content, so every email is more effective and overall I get higher open and click-through rates.”
The business has increased its revenue from $100,000 to $800,000. The list of leads has also grown from 2,000 to 85,000 and the customer base from 200 to 6,000. For a small business, a jump in numbers like this is truly remarkable.
And Laura isn’t alone; there are many stories out there like hers.
With game-changing technology like this readily available and affordable, businesses are seeing the high ROI and spreading the word. With so much to gain, in both growth and efficiency, it is only a matter of time before all companies start using CRM technology.