Customer Relationship Management will not slow down in the wake of COVID-19; on the contrary, CRM is helping many businesses sail through these uncertain times.
Every business is unique, with its approaches to operate and deal with situations. While business operations across the world have changed amid the COVID-19 outbreak, certain aspects of business management would never change, like Customer Relationship Management (CRM) software.
Although the world has been through other crises in the age of CRM, like Y2K and the 2008 financial crisis, the coronavirus pandemic, and its associated challenges, is unique. Fortunately, companies that provide CRM for small businesses have evolved to address some of these challenges. The business winners so far in 2020 are those that use CRM tools to their advantage.
CRMs prove beneficial not just for large corporations. CRM for small businesses helps automate processes, improve synchronization between sales, IT, and marketing departments, streamline processes and data, and build better customer relationships.
If you are wondering “Why to use CRM tools when I can manage my customer relationships alone”, here are 10 reasons that will help you better comprehend the benefits of CRM for small businesses.
CRM allows sales teams to keep all customer information — from any point of time — in a central database. This enables quick cross-team access along with the ability to effortlessly manage all data via a shared location. CRM software helps avoid spending too much time looking through files and records to find information about prospects to follow up or close deals.
CRM helps manage all communication efficiently, both within teams and with customers. CRM for small businesses helps track a buyer's journey, together with every interaction, email, phone call, and more.
When it comes to business development, CRM for small businesses can help analyze data and determine when to reach out to a specific prospect. It helps sales reps remember if they already sent a prospect the resources they requested.
With good CRM software in place, sales teams don’t have to spend time logging calls, emails, meetings, and interactions. The data can be automatically collected and aggregated within the system.
Additionally, CRM for small businesses helps keep a tab on all deals based on the stage they're in. CRM tools can automatically handle the summation, visualization, etc., making the process as efficient as possible.
CRM for small businesses helps track all prospect activity, enabling sales executives to follow up with prospects as needed. When sales executives are reminded of specific follow-ups, they can schedule the call or email at the time when their support can be most helpful to a prospect. This way, CRM for small businesses helps increase the chances of lead conversion.
CRM for small businesses allows sales teams to keep track of contacts and their related data, irrespective of where the buyer is, in the sales cycle. Additionally, with a good CRM tool, sales executives can check if a contact visited the company website, downloaded content, or has been attended to by other team members.
CRM helps sales teams to keep notes from calls or email interactions with their contacts. All of this data is searchable within the CRM.
CRM for small businesses helps categorize contacts based on the data collected over time. With such segmentation, sales teams can create a list of contacts to be approached based on specific criteria.
For instance, a sales executive can look for customers by filtering based on location, company size, or deal stage. This way, all the sales team members can have a clear idea about how to position the outreach for each segment, increasing the likelihood of conversion.
CRMs allow teams to collect and organize prospect data using intuitive sales dashboards and reports. These enable sales executives to automate and manage their pipelines, contacts and deals better. CRM for small businesses helps keep track of individual performance and goals, motivating team members to reach their sales targets. These reports help monitor the revenue generated.
CRM for small businesses enables sales teams to make informed decisions based on structured sales strategies. With CRM reports, sales executives can pull out key metrics like monthly recurring revenue (MRR) and year-over-year (YOY) growth. These metrics help sales leaders identify trends and develop performance-related forecasts.
CRM for small businesses can pinpoint the most profitable lead generators. This data can help team leaders forecast sales numbers for upcoming months and adjust the pipeline estimates as needed.
CRM is a one-stop-shop for sales teams to monitor leads, prospects, and all related data over any duration of time. CRM for small businesses allows sales leaders to review specific activities like emails, calls, and meetings. This data can identify patterns, understand the sales processes that work better, the ones that need improvement, and scale their processes as the business grows.
Communication within teams is critical to keep up the brand’s image as various team members interact with prospects simultaneously. CRM for small businesses enables team members to tag or notify coworkers and managers on the specific deals that they want to bring them onto. CRM helps reassign leads to team members with just a click of a button.
Administrative tasks such as manual data entry, searching for email chains, updating conversations, and contact information is simplified with the right CRM software.
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