Planning to use CRM software? Here, we’ve listed down its main advantages that will boost your business’ productivity.
In this article:
- Current Landscape of CRM Software Market
- Different Benefits of Using a CRM Software
Different Perks of Using a CRM Software
What is CRM Software? A Customer Relationship Management (CRM) software allows businesses of all sizes to engage with customers more efficiently and effectively. Through automation and streamlining, CRM helps businesses achieve a better customer experience. And at the same time, the business can also gain better data and analytics.
Current Landscape of CRM Software Market
CRM software used to be available only for large enterprise companies. Nowadays, there’s CRM software that caters to small businesses as well.
Some vendors may offer free CRM software package for a limited time. This may depend on their free trial terms and agreement.
CRM software brings all client information into one live interface. With it, you can track your clients’ call logs, sales history, requests, and appointments.
Some of the best CRM software may also give real-time notifications about clients’ significant activities. Examples include the number of times they access your website or click links from your emails.
Different Benefits of Using a CRM Software
1. More Streamlined Data Management
One large benefit of CRM is helping users have an organized data management and storage system.
Through this, different departments can easily access the data that they need. It can assure you and your team that no customer data is misplaced or misclassified.
CRM software also lets you set data parameters. This means that only authorized employees or departments can access sensitive customer information.
Aside from streamlining data, it also helps you safeguard your CRM data ecosystem from hackers.
Data Privacy Definition: A company or an individual’s ability to distinguish which personal information in a computer system can be shared with external or third parties.
2. Faster Inter-Company Collaboration
Since CRM software lets you streamline databases, it enables faster inter- and intra-department collaboration.
Everyone can also access on-location and real-time data, which allows for easier sharing of insights and faster decision-making. There can be a faster turn-around time for sales-related reports.
For example, decision-makers can take a quick browse through the CRM and already be well informed. This can help them come strategize and decide faster when needed, such as when reacting to volatile market trends.
3. Enhanced Customer Interactions
Another practical benefit of using CRM software is achieving more leads and unparalleled customer retention.
CRM can help you answer customers’ problems or queries faster by providing users with a 360-degree view of all pertinent customer information.
Suppose a customer calls to report a deficient product.
Your customer service team can flag the product’s serial number in the system. Then, your logistics team can analyze the product’s manufacturing batch. Necessary replacements can be made faster.
From there, your finance team can forecast the replacement costs to your monthly bottom line.
Your customer service team can use CRM to analyze recurring problems. This lets them reduce the turn-around time of customer engagements.
At the same time, your marketing team may also use such information to parse data and forecast market trends.
The software enables departments to anticipate customer needs better. Employees can thoroughly analyze customer demographics and segmentation.
4. Increased Sales
Another major benefit of having CRM software is achieving more robust sales growth.
Through automation, you can monitor your sales pipeline more comprehensively.
You can easily pinpoint which deals to prioritize. You can also track which customers are profitable and which ones are not.
Also, this software can also help you track client interaction. All information can be captured, whether by phone, email, or through customer helpdesk.
This can help your business employ a more comprehensive target marketing plan. At the same time, you can take advantage of big data analyses and an automated sales dashboard, too.
As a result, you can better identify client prospects for upselling or cross-selling. This can minimize sales cycles while boosting sales success rates.
For example, by using CRM, your Sales department can give a quick scan of your current sales figures and be able to assess the most performing sales clusters.
They can forward this information to the Supply Chain and the Logistics departments. This client information can help the departments organize more effective marketing trials.
CRM software helps you monitor both performing and needy sales clusters. As a result, you can gain better insights on how to spread your resources among teams.
5. Lower Overhead Costs
Profitability can also be achieved by decreasing overhead costs. Through automation, the time spent on manual procedures can be allocated to other important tasks.
With user-friendly CRM tools, you can also reduce training costs.
CRM helps you equip employees with easy-to-understand standard operating procedures (SOP). This can also help your business avoid doubling of tasks.
CRM also gives you an easier time aligning accounting, sales, and inventory monitoring tasks.
All forms, templates, and procedure lists can be universally available in your system, for everyone’s easy access.
Also, all avenues of customer engagements, such as emails and phone calls can be tracked better. A CRM system helps your customer service team forward clients’ concerns to the right department immediately.
This, in turn, lets you see which teams or employees are performance hotspots. This lets you recognize performers for incentives faster, too.
6. Remote and Flexible Software Access
One important functionality of CRM software is its ability to be remotely accessed.
Using the software, you can access customer information, sales history, and delivery schedules anytime and anywhere.
The software also lets you access real-time inventory counts and clients’ credit limits using your authorized devices. This helps you process approvals within minutes instead of days.
These features would be very helpful, especially in field sales.
During a client meeting, you can log field inputs in the CRM software. While you are pitching, your back office can already start processing the inputs and produce a quote.
Then, you can easily show the quote as your meeting ends. This can save you time from scheduling another meeting just to show a customized quote.
7. More Organized Social Media Marketing
CRM software also gives a panoramic view of all social media platforms.
Since social media is a crucial part of modern-day marketing, CRM can help you monitor your business’ online engagements.
You can have consolidated monitoring of all your online platforms to track which network is the most effective in generating traffic. This can help you assess online trends to know the most effective time to roll out new marketing campaigns and promotions.
Moreover, CRM software also helps monitor if you’re successfully reaching your ideal online customer profiles. This can aid you in developing new products for your target market.
Indeed, CRM software can open more doors of opportunities for your company.
Through automation and streamlining of inter-departmental processes, you can boost your employees’ productivity while achieving your target sales growth.
The best CRM software for your business should be able to help you increase sales and productivity, have better coordination among employees, and achieve a healthier sales pipeline.