Businesses that are encountering issues or difficulties consolidating data to derive information may need to change productivity tools. But this requires financial investments. Many are still unsure whether customer relationship management (CRM) is worth the cost. Hopefully, businesses will realize that the warning signs below really indicate that a CRM is needed:
Low efficiency and productivity
Spreadsheets and paper processes are not efficient when it comes to sharing information. It is also a waste of time. A CRM replaces processes by automating data entry and repetitive tasks. This brings account-related communication into one platform. It also increases sales efficiency to 41% per salesperson.
No collaboration between departments
It is common in a business setting for different departments to do their own thing without being mindful that their work affects other departments. With a CRM, everyone in the company can see the progress of activities. Departments can then be aware of what processes to do and expect to complete a cycle of transactions.
Accountability is limited among the team
With a CRM, there is a centralized database and thus provides a precise interaction between the sales team and the customers. Leads are quite visible as well as assignees can be tagged, establishing accountability. At any given point of transaction, any team member can check and know what is happening to a transaction.
Data analysis is poor
It would be beneficial for businesses to know more about their customers. Relevant information about customers can be in one database and thus accessible to all. Using the tools that the CRM features, good analysis on customer demographics, seasonal habits, preferences like a method of communication can be easily determined.
Customer satisfaction is low
Since all activities related to customers including complaints and issues can be stored in the CRM, data on customer satisfaction can be determined on the fly. The business can gauge if its marketing efforts are on track and if there is anything to improve, this can be readily seen.
Missed leads
Tracking sales leads manually would be tedious. There is a possibility that some will be missed out on. The CRM can use automated notification for the sales team. Whatever the results of the follow-up can be entered into the CRM and tracked for progress.
Rapid growth
CRMs are scalable. This means that the application can grow with the business. There is no need to buy high-volume CRMs if the operation is still starting. The size of the CRM depends on the number of team members and the customer base.
As the business is evaluating the value of the CRM, it is important to acknowledge that there may be pitfalls and dangers of manual sales and marketing processes. The use of a CRM provides the capability to streamline and stabilize the interactions between departments, between the sales team and clients, as well as an increase in customers’ experience with the company.
