Top 6 Reasons Why You Need a CRM
A CRM is a software for managing all your relationships with your potential customers - one which is important for all businesses. Here are some of the few most important reasons why you need to implement a CRM in your business:
1. Customer Service
We all have heard the saying “Customer is King” and this is true in any business. A customer can make or break your brand. Therefore, it is important to keep your customers happy. A CRM helps you nurture your relationship with your customer and serve them better.
A study has shown that only 7% of organizations follow their web leads immediately or within an hour. The sooner a lead is followed up, the higher the possibility of converting them into a customer. A lot of leads often get wasted because of a lack of timely follow-ups. A CRM system will assist your sales team with all the problems related to lead nurturing. A CRM reminds you when a customer or lead needs following up. These reminders will allow an organization to contact their leads or customers at the right time.
This also helps in preventing unwanted phone calls or emails to a customer, as well as letting them go unattended for a long period of time. Simple features such as a screen pop-up and real-time customer engagement within a CRM greatly improves customer service. Definitely, it will improve your Lead to Customer conversion ratio.
A CRM also helps you store the whole history of a customer. In turn, helping you serve well and keep them happy.
2. Reduces Cost
Retaining an existing customer is really hard, but it should be a company’s primary goal because it is seven times more expensive to acquire a new customer than to keep an existing one. A CRM can help your organization retain an existing customer. By retaining a customer, you will be spending far less than when you have to find a new customer.
A CRM will allow a company to maintain relationships with customers by knowing what they want and when they want it. By having a history (likes and dislikes) of each and every customer, you can target certain products and services to the correct prospect or customer. Targeting like this will help increase sales, resulting in an increase in profits.
3. Increase Productivity
Automation will help in increasing the productivity of a team. After your sales team enters the information needed, a CRM will have the whole history of each and every customer so that automating all the tasks can be done by just clicking on a button. This helps in saving a lot of time and using that time more efficiently.
4. To Boost Brand Image
A CRM increases the lead conversion rate and also helps you sustain a strong relationship with your customers, making them loyal to your brand. A loyal customer base is really crucial for the success of any company.
5. Shorter Sales Cycle
What is a Sales Cycle? A Sales Cycle is the time that a company takes to close a deal. It starts when a salesperson first contacts a lead and ends when the lead becomes a customer. In a CRM, a sales rep can actually view the whole history of communication with all the leads. This helps him to complete the sales process quickly, hence shortening the sales cycle.
6. Task Management:
A CRM is not only used for customer management. it can also be used for employee management. Task management can be automated in a CRM. The CRM can assign tasks based on the availability and skills of the employees. A team leader can assign tasks to team members or managers can assign tasks to team leaders. Task synchronization with other platforms like Outlook, Google Calendar is also possible.