October 23rd, 2020 | Updated on February 15th, 2022
CRM is one of that software, which has gained so much traction in a short period of time. It has its own set of benefits for every business but not everyone is aware of that.
You may also find some people who don’t know what CRM is. There are also some people who don’t know that they are already using a CRM. So let us first make you familiar with the term CRM.
What Is CRM?
CRM has just not remained software, but it has now become a approach for businesses to manage customer data and many other processes. It stores customer details, previous conversations, upcoming events, and your sales performance to increase your overall profits.
Simply put, CRM is an all-in-one tool for your business that can handle everything, right from lead capturing to sales forecasting. This one software can unload a lot of hassle from your daily office life and open new opportunities for your business growth.
So now every reader of this post knows what CRM is. But do you know what all the benefits of CRM are? Let us help you with that too.
What Are The Benefits Of CRM?
Here is the list of benefits that you are going to get with a CRM and not everyone is aware of.
1. Surges Your Business Growth
If you are a startup today, you are not going to remain a startup forever. One of the most instrumental aspects to enhance your sales and expand customer base is the use of the right tool.
Not to mention, CRM has become the first choice of any business ambitious to get quick success. You can easily manage your customer data, maintain relationship with customers, and expand your business with the right CRM software.
2. Locates Customer Data Easily
Customer data is easy to handle in the initial stages of your business, but as it grows, spreadsheets, sticky notes, or emails doesn’t work so fine. If customer data is not handled properly, customer relationship may get badly impacted, resulting in repercussions for your business.
This is where CRM comes into the picture. It gives a holistic view of every customer data so that you can serve them efficiently and build a better relationship with them. With CRM, data becomes more visible and accessible that you can make informed decisions in favor of your business.
3. Aids in Better Allocation of Sales Resources
An expert sales mind knows that not every client needs same attention. Some prospects may require more hands, while some may not. Draining same amount of energy can be fruitful for the number of targets but not for revenue. How about looking at all the prospects in one place and then deciding the allocation of sales resources?
The right CRM software can give you a consolidated view of prospects and resources that you have. This is how intelligent decisions are made. Have a glance of every prospect and then decide which prospect is more lucrative and require more resources.
4. Stores Important Documents
In your regular office processes, exchanging and sharing documents happens daily. Team collaboration is impossible without document sharing. Have you ever thought about security of you documents while sharing them? If no, then this is the high time.
A highly-secured CRM solution is all what you need to create a win-win situation. A CRM system like FinCRM can keep all your documents stored using cloud technology and make sharing easier & safer. This way you can store your documents in CRM, share them with required team member, and keep them safe always.
5. Gives You Sales Pipeline Visualization
The ultimate goal of every business is achieving sales targets. Sales pipeline visualization holds a major chunk of importance here. The better you can see the sales pipeline, the better decisions and strategies you can make to achieve your target.
CRM shows you every detail about the sales pipeline through visualization. You can see where your prospects are stuck, remove that bottleneck, and move your prospects faster through the sales pipeline. You can keep your finger on the pulse of the entire sales process and optimize it when needed.
6. Helps in Delivering Better Customer Service
Retaining customers is as tough as getting them. All your efforts may go in vain owing to subpar service. If you find your team spending more time dealing with customer complaints rather than anticipating their needs, then it’s the right time to invest in CRM software.
Be it your customer’s complaint or questions, the right CRM system can get you everything done effortlessly. How? What do you need to solve your customers’ problems? Knowledge, right? An expert CRM enables you to store everything in it. You just need to look up for the solution in it and deliver it to the customer in the right way.
7. Manages Your Valuable Accounts
Not every customer is your customer after a series of equal efforts. Some of your customers are diamonds and cannot be left unappreciated. Make them realize their value through personalized services. Wish them on their important events and send out timely communications.
For personalized services, accounts are much needed and CRM has its share of importance here. Save your customer details in accounts and maintain a relationship with them using those details. If you will value your customers, then they will value you and keep doing business with you.
8. Enhances Productivity
Productivity is directly proportional to your business’s growth and there is no second opinion. But with growing business and expanding customer base, you can easily get inundated in effect of doing routine work. A salesperson doing repeated data entry and sales can understand it. So, how to keep up the good productivity?
By eliminating routine data entry work. A CRM solution has a good use here. It replaces the mundane work, such as capturing leads from online platforms and adding contacts manually. Many of your processes get automated and you save a lot of time that can be invested in strategizing and doing productive works.
9. Follows You Up in Follow Ups
For closing a deal, building a relationship with your prospects is must. For building relationship at that stage, you need to keep following up with them. Follow ups are a great way to make people feel valued. Don’t make your prospects feel forgotten, else they may forget closing deal with you thinking that you don’t care.
In such case, you need a CRM to keep reminding you about follow-ups. A smart CRM will show you on the dashboard about your calls and meetings so that you can follow-up on time and close more deals. Remember, you are selling to humans and people are buying from humans, so building a relationship first through follow-ups is of utmost importance.
10. Keeps Data Safe
Your customers have closed a deal with you because they trust you. They are sharing their data with you and hand over responsibility of protecting their data to you. So the last thing you would want to deal with is data loss. How to keep your data safe in the time when cyber attacks and mishaps are happening very frequently?
The solution is CRM. Modern cloud CRMs available nowadays are potent to keep your data safe against cyber attacks. Storing data in excel sheets can be easily corrupted and accessing that data is another difficult task. But when you have CRM in your office, you can stop worrying about for your data round the clock.
11. Reduces Cost
Many companies deal with budget constraints at early stages and try to save their capital. If you think that adopting CRM can be a money-draining strategy, then you are running down the hill. The right CRM software for your business can save you a lot of money and time by automating your tasks.
Choosing the right CRM solution can even give you more in turn than investment. At initial stage, you can choose any affordable and feature-packed CRM for your business. One right choice can transform your business processes and you will be surprised to see the growth you will achieve.
So now you know everything about CRM. All the major benefits of a CRM are in front of you. Do you still need to think about implementing CRM software? No. Just go and search for the feature-rich and affordable CRM in the market and start using it. You will be surprised to see your business transforming in such a lucrative way.