Lot many businesses think the CRM is for large organizations. On the contrary, CRM is suitable for all kinds of businesses, specially the small and growing ones. An effective CRM system acts as a catalyst for small businesses to leverage technology for generating better returns and profits.
CRM providers also understand that small businesses cannot afford an expensive system right away, hence are shying away from using great technology to their advantage. To help small businesses, CRM providers have started providing same great technology and services on a subscription model. This way small business can use CRM to their advantage without having high cash outflows. But the basic question remains, as to how do CRM help small businesses? Below are top 5 ways:
Customised solutions: Requirements of small businesses are unique to them and their nature of business. With CRM solutions which can be customised as per business needs and requirements so as to have access to data that is critical to the success of their businesses.
Increased productivity & Higher ROI: Employees working at small businesses tend to use some standalone software, besides excel, notepads and various other devices to store information independently. A CRM can capture all critical details of their clients and keep a tab on the marketing campaigns that may happen from time to time. This helps in a boost of productivity along with higher ROI because the cost of sales goes down with a better information management and accessibility from laptops, mobiles etc.
Higher conversions from lead pipeline: A good CRM helps getting a complete overview of all interactions with customers, at all levels. The sales and marketing team have access to all real time sales opportunities along with detailed notes about the case history which helps in an efficient follow up and a quick closure. In fact studies have shown that customer retention rates have also gone up, with use of effective CRM solutions.
Keeping up with competition: It is quite likely that the competition to businesses is also using CRM. Using CRM gives a window of opportunity to small businesses to move away from manual interventions to keep walk along with competition for large successes. Business intelligence also provides how the competition is faring in the market.
Simplifying the IT infrastructure: Along with the growth in businesses comes the challenge of managing the IT infrastructure. There are lot of communication that happens between different departments like marketing, sales and finance along with the stakeholders. So it becomes imperative for businesses to access the updated information from practically anywhere from a laptop, tablet, smartphone or a mobile device. While large businesses can afford to invest in dedicated IT department, it becomes tough for small businesses to keep up. But CRM solutions today have a lot of inbuilt apps and features that can strengthen small businesses.
While it is essential for small businesses to embrace technology to their advantage but they must also do a steady evaluation of CRM solutions available and their ability to help small businesses grow to greater heights.