CRM has always been the domain of big business. Until now…
Managing customer relationships is key to current and future success. Unfortunately, as a business grows or as more salespeople are hired, customer relationships can suffer. After all, while you have more customers, you don’t have the detailed knowledge or understanding of each one like you did when you had fewer customers.
Enter (CRM), a solution designed to overcome customer relationship challenges. Previously the domain of large business, CRM is now a must for small and medium businesses wishing to grow steadily and predictably. The ability to understand product and services demand, to weed out unprofitable sales efforts and customers, to capitalize on emerging trends, and to market more intelligently, is important to small and medium businesses. Why? More revenue, faster. It is that simple.
Here are ten reasons why your small and medium business needs CRM, right now:
1. : Pretty simple. You can turn information into leads by understanding conversations and uncovering needs that you can fill.
2. Qualify Prospects Faster: It’s what you and your salespeople are struggling with, right? To quickly evaluate contacts and leads and uncover needs or issues you can sell into. Stop wasting time where you have no chance of success.
3. Close More Deals: A key to growth – more deals more often! Because you actively manage the sales process and have unique insight into customer needs, your sales team will increase its success at closing more deals.
4. Higher Average Invoice/Deal Size: Getting more dollars every time you sell. Through customer and product/service insight your business will be in the unique position of being able to more effectively cross and upsell your products/services.
5. Margin Preservation: Virtually eliminate discounting or leaving dollars on the table. Each sales engagement and customer can be evaluated to discover nuances and needs that allow you to solidly position and defend your value and price.
6. : Having the right relationships, processes, and capabilities ensure that you can capture and resolve small issues before they become big ones.
7. Tighter Customer Loyalty: Through closer relationships, better customer service, and anticipating needs, your customers will choose to do more business with you, more often.
8. Business Customer Continuity: An historical customer relationship ‘memory’ is always retained in the business, should salespeople leave or be replaced within the company. And new salespeople get up to speed more quickly, minimizing customer relationship or service interruptions.
9. : Quit throwing good money after bad. You’ll know how each marketing piece, campaign, or promotional item – from placement to revenue – contributes to the business.
10. Profitability: This is what really counts – more profit to your business. The business becomes more ‘intelligent’ when it comes to the most important and expensive drivers – sales, marketing, and customer management. Get in control of all three,driving new levels of profit to your business.
By NextCorp, Ltd.,
C'mmon CRM and ERM reduce the information turnaround time, hence it makes sense for all and sundry to have such a solution; unless, they have some kind of monopoly or run a cartel in their market. We at crmprogrammer.com only care for as much and we prefer to skip the mindless mumbo jumbo that’s pedaled around in the IT sector. We are a FOSS consultant, and developer and we intend to keep things as simple as that.
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Good points. I would add another critically important benefit;
11) Everybody in the business and especially new staff have a single place they can go to when speaking/dealing with a customer or prospect and get a complete history of conversations that have already transpired with them. This makes sure that no one says something like; "And are you looking at using our service?" to a someone who has been a long term customer. Nothing damages a business' reputation quicker than a customer feeling like they are not valued.
Excellent analysis. The benefits of CRM must be quantified so that management can work clearly with employees, customers and others stakes.