Why a CRM is a Must-Have Software For Your Business?
It is no secret that customer relationship management (CRM) systems are valuable assets for companies.
That is why its adoption is expected to skyrocket in years to come.
According to Fortune Business Insight, the global CRM market was valued at $57.83 billion in 2021 and is expected to exponentially grow to $145.79 billion by 2029 registering a CAGR of 12.5%.
The irony is many business owners still question its efficacy.
Why is this the case?
The reason is most business owners are blind eye to the benefits of a CRM and consider it as an expense instead of an investment.
In this blog post, we will explore some of the key reasons why is crm one of the most valuable assets a company can acquire and outline some of the benefits they can provide businesses.
We hope that after reading this post, you will have a better understanding of why CRM should be a top priority for any company.
Benefits of having a CRM:-
Here are the top benefits that a CRM provides to your business
Software Integration: Get A Complete View Of Business Operations
CRM systems can be integrated with other software applications such as accounting and invoicing software.
This gives businesses a more complete view of their operations and helps them to make more informed decisions.
For example, if a customer raises an issue with their invoice, the CRM system can be used to track all previous interactions with that customer.
No need for a sales representative to send long emails to the accounting department explaining the history of the customer!
Lead & Contact Management
A CRM system can help a business manage their leads and contacts more effectively.
Lead scoring is a process of assigning a numerical value to each lead, which indicates the likelihood of that lead converting into a paying customer.
This helps sales representatives to prioritize their time and efforts.
Workflows can also be set up within the CRM system, which automates repetitive tasks such as sending follow-up emails to customers.
This saves sales representatives a lot of time and ensures that nothing falls through the cracks.
Data Collection/Centralization Under A Single Database
A CRM system allows businesses to gather and centralize all their customer data in a single database making it easier to get insights into customers’ pain points and needs.
All this allows businesses to provide more targeted services to the customer, resulting in better ROI.
Sales Analysis To Track Sales Performance
Another reason why is crm one of the most valuable assets a company can acquire is that most CRM systems provide useful analytics tools.
These tools help businesses to track the performance of their sales team.
This can include metrics such as conversion rate, average lead-to-customer time, and many more.
With this data at hand, managers will be able to identify areas where improvements are needed and coach their sales representatives accordingly.
Automate Repetitive Tasks
A CRM can free up time for employees to focus on more important tasks.
For example, if a customer calls a business to inquire about a product, the CRM system can automatically pull up the customer’s purchase history and contact information.
This saves the customer service representative from having to look up this information manually, enhancing their productivity and hence benefiting the company in the long run.
A CRM system can also be used for marketing automation.
This means that businesses can set up automated marketing campaigns and send targeted emails to their customers based on their interactions with the company.
For example, if a customer abandons their shopping cart, the CRM system can automatically send them a reminder email about the items in their shopping cart.
This helps businesses to enhance their customer engagement and increase the likelihood of conversion.
In addition to marketing automation, a CRM system can also be used for sales automation.
This means that businesses can create and track sales pipelines within their CRM system.
Sales representatives will be able to identify their best-performing leads and use this information to close more deals.
As a result, the company’s sales performance will be improved, resulting in increased revenue and profitability.
Management Of All Communication Channels
One of the basic functions of a CRM system is to help businesses to manage all communication channels with their customers in one place.
This includes phone calls, emails, live chat, social media, and more.
Consequently, businesses get a complete view of their customer interactions which in turn helps them to provide better customer service.
Efficient Lead Management And Qualification
Earlier we discussed how CRM helps centralize customer information.
One benefit of this centralization is that businesses can easily manage and qualify their leads more effectively.
This is because all customer information will be stored in one central location which sales representatives can easily access to identify the most promising leads.
In addition, they will also be able to set up lead scoring parameters to prioritize their leads.
Boost Brand Image And Customer Loyalty
Brand Images is also a reason why is crm one of the most valuable assets a company can acquire.
As a CRM system can also help businesses to boost their brand image and build customer loyalty.
This is because the system allows businesses to provide more personalized services to their customers.
As a result, customers will feel valued and appreciated, leading to improved customer satisfaction levels and higher loyalty.
– Data Entry automation (this is similar to automate repetitive tasks so I am skipping this)
-Reminders (similar to one of the already discussed points)
-Helps understand customer/Customer Interaction tracking & Segmentation (similar to one of the already discussed points)
– Helps to improve customer service
(similar to one of the already discussed points)
Top CRM Softwares In the Market A Company Can Acquire
Now you know the benefits of having a CRM for your business, you might be wondering which one is the best for you?
With so many options available in the market and each claiming to be the best than the other, it can be challenging to go for one.
But worry not. We have got you covered with a list of the top four CRMs in the market.
Check out the details of all of them, analyze your needs and select the best one.
Salesmate is a cloud-based CRM software that helps businesses streamline their sales and marketing processes.
It offers features such as contact management, sales automation, built-in calling and many more exciting services.
The best thing about Salesmate is its robust email marketing platform that helps businesses to automate their email campaigns.
Pricing: $15 – 40 user / month
Salesmate offers four pricing plans. The starter package is priced at $15/month/ per user. You can check the details of other packages on their pricing page.
Not sure if Salesmate is best for your business?
Try their fifteen days free trial which doesn’t require you to put in your credit card details.
ActiveCampaign primarily offers marketing and email automation services. However, it also has some features of CRM software which makes it an ideal choice for small businesses.
Some of its popular features include contact management, sales automation, lead capture forms and much more.
Plus, with their visual campaign builder, businesses can easily create and track their marketing campaigns.
The basic “lite package” of ActiveCampaign starts from $9/month and goes all the way to the enterprise level. For more details, please check out ActiveCampaign’s pricing page.
Agiled App’s mission is to offer all business-related services in one place so that you don’t have to move between different apps.
Consequently, it is not just a CRM, but also offers contracts, employee management and finance-related services.
Agiled App’s blog contains lots of in-depth guides. So even if you are hearing the term “CRM” for the first time, the blog is all you need to get accustomed to the user-friendly interface and get started.
Agiled App’s solo package starts at $7 per month which is for a single (solo) user. For details of other packages, please visit their pricing page.
It’s time to take advantage of a CRM
Although the benefits of CRM are clear, some businesses still resist implementing a system.
The reasons vary but often include the cost of the software and the time it will take to get everyone up to speed on how to use it.
However, as you have read, those who have implemented CRM generally see significant increases in sales and productivity.
A well-designed CRM can be one of your most valuable assets as a company.
Are you convinced yet?