5 Ways to Tell If You Need CRM

5 Ways to Tell If You Need CRM

A good CRM system can alleviate many of the headaches that come with managing a business that is poised for fast growth. So how do you know if you need a CRM solution? Have a look at the 5 key areas.

Customer Relationship Management (CRM) has been around for quite some time and has in recent years made a booming comeback. Social CRM exploded back into the market, with applications focusing more on interaction rather than just transaction. With both cloud-based and SaaS solutions integrating more & more features CRM is gaining in popularity, helped along by low initial costs and easy integration with other platforms as well as mobile devices.

Many businesses find themselves wondering what happened to those lost deals they were so sure of, with a vague feeling that leads / clients may be through the cracks, and a frustrating inability to get a view into their sales pipeline.

A good CRM system can alleviate many of the headaches that come with managing a business that is poised for fast growth. So how do you know if you need a CRM solution? Have a look at the 5 key areas below.

Do you…

1. Wish You Had More Time?

Do you find yourself wishing you had more time to focus on selling your product or service to prospective new customers? Or simply just wishing you could spend less time on administrative tasks, like managing your sales team’s progress, or locating customer information and past communications. A good CRM system will allow you to store and access all of your customer data, as well as give you an analysis on your team’s progress – allowing you to focus on other tasks and manage your time more efficiently.

2. Want More Revenue?

To grow their revenue streams, companies typically invest in growing their sales and development teams. With a thorough CRM system, companies are afforded an insight into their customer base. They can see where the best leads / sales are coming from and which marketing campaigns were the most successful, in turn allowing companies to invest time and money in the right areas, for maximum growth.

3. Want To Grow Your Customer Base?

This is the holy grail of CRM. It’s safe to say that customers will communicate with you in a multitude of ways – and if they are dealing with different people each time they contact your company, having an accurate record of each and every dialogue, ensures they don’t have to repeatedly give details of their contact information, products, complaints or purchase history.

Customers want to deal with someone who understands and can respond to their needs – and even anticipate them in advance.  Treat your customers as individuals, acknowledge their personal needs and treat them with the attention and respect they deserve. Invariably, earning their trust will also earn their business.

Make your customers feel special. Everyone likes to be made to feel special! Targeted, personalized messages can eliminate some customers’ feeling of alienated and better help you to connect to them.

4. Want To Increase Your Customer Retention Rates?

Over the past decade, consumers have become more tech-savvy and much more tech-dependent.

As a result, customers and consumers expect a seamless user experience across every device and every channel, whilst at the same time expecting the best possible standard of customer service.

With near endless customer choices today, creating loyalty with your highest value customers is crucial. A CRM system can help you communicate with existing customers at the right time, in the right channel, with the right message to ensure they keep coming back and, better yet, become an advocate of your business.

5. Want Better Insight into Your Business?

Not being able to accurately forecast your quarter can cause a stress quite like no other. Can you say which of your sales team is closing the biggest deals? Which of your marketing or email campaigns generated the best return?

A CRM platform should not only allow to gather and track that data whenever you so choose, but also provide enough information to assist you in making actionable decisions and course-correct when needed.

 

If one or more of the five areas listed above resonated with you, then a CRM solution may be just the thing for you.

Do you have another area of concern in your business? Would like to know if a CRM solution would help alleviate those concerns? Drop us an email at: sales@livespace.io.