Ever found yourself scrambling for a vital piece of info on a potential buyer, but not sure where to find it?
You know you’ve spoken to them at one time, but was it on social media?
Through the phone?
Was this even the same person you thought it was, to begin with?
After you get done pulling your hair out, you realize that the chances of you finding this information are now slim to none. This current so-called “system” in place for keeping track of your customers isn’t working.
Insert the need for a CRM, or better known as a “Customer Relationship Management” system.
If you’ve been in the business world for any amount of time, you’ve most likely heard of it before. Simply put, CRM refers to smart software that tracks interactions with potential and current customers. Simply put, this can make your life easier.
A CRM system eliminates those desperate scrambles through your inbox. This gives your customers and employees a better experience overall. In turn, making your sales process easier than ever before.
No matter how large or small your company is, having all of your customer and business data in one place will make your life easier. All the hard work you put in needs to be efficient as well.
CRM is the fastest growing software market today. It was a $14 billion industry in 2010 and is expected to reach $80 billion by 2025. That’s nearly a 600% increase.
Here are 5 key reasons your business needs a CRM system.
1. It’s a centralized station for storing company data.
CRM software can be used by many different departments and business types. It’s used by those in the outdoor industry, the healthcare industry, and anyone in between. If there is a relationship to nurture, a CRM can be a huge help. It can also help foster unity and productivity for those on your team. With everyone working from the same database, each person has access to everything they need to do their job. This keeps everyone up to date, all without getting in each other’s way.
2. It improves the overall experience.
A sales or customer service team is only as good as the tools they have at their disposal. The more information they have access to, the better and more personalized their service can be. CRM’s prove to be useful all the way around, from inside the company walls down to the customer experience. The more organized the system, the better the job can be done.
3. It improves time and sales funnel management.
CRM software can include automation features. These features take care of certain tasks and free your team up to focus on bigger and more cost-effective things. For example, sending follow up emails and creating leads when certain actions are taken by customers. This can help ensure those customers keep moving through your sales funnel. CRMs use internal intelligence to analyze data and offer actionable steps to help you maximize on opportunities. This will help you to convert your leads into paying customers.
4. CRMs are well worth the ROI.
CRM systems are not just for large companies and businesses. What was once a steep and unrealistic technology cost has become affordable for any business, no matter the size.
A recent survey revealed companies that use a CRM have an average return on their technology investment of $8.71 for each dollar spent.
5. It’s a sales asset.
A CRM can be a sales team’s greatest success tool. It gives them access to all the data they need to generate leads and close deals. All of this is possible while making sure that the customer experience is more positive than ever.
Using CRM software can increase sales conversion rates by up to 300%.
They say you have to spend money to make money, and that’s certainly true of a CRM. If you sell a product or service and deal with customers in any way, you need a solid system in place for long term success. By streamlining processes, improving productivity, and developing more leads, a CRM can pay for itself in no time.
Your ability to grow is dependent on contacting your prospects at the right time and providing them valid information. That can all be easily stored in your CRM system. You simply can’t do this effectively without one.
Get started with growing your customer base with a CRM alongside our team of marketing experts at Frontier Media. Your success is our mission and we’re here to help guide you every step of the way.