By the end of 2025, the CRM industry profit will exceed $80 billion. Today, this software segment is called the fastest-growing. Its popularity can be explained by increased consumer demand associated with high-quality customer service. Today, CRM provides modern businesses with many advantages: from proper organization of all contacts to automation of key tasks. Therefore, the CRM system has already been dubbed the most important and universal tool that will be equally useful for businesses of any scale.
Special attention needs to be paid to this relevant question: how do integrated CRM solutions for small business allow companies to thrive in a competitive environment? This customer relationship management system represents complete software, a specific repository where contacts and customer data of a specific company or enterprise are securely stored.
The Importance of CRM for Business Development
The pandemic, as one of the most notorious recent cataclysms, plunged the global economy into a serious crisis. As a result, a huge number of businesses suffered (in most cases, small and medium businesses): few managed to adapt successfully to maintain and retain their target audience’s attention. Companies that timely implemented effective CRM solutions to increase customer loyalty and engagement were fortunate. According to statistics, increasing customer retention by even a minimal 5% provides about 75% revenue growth for companies and firms.
Today, it’s quite difficult to overestimate CRM solutions for small business:
- CRM eliminates the need to search for and hire new employees to the company’s staff – the system will help reduce the number of routine tasks, ensuring effective management of specific business processes.
- CRM will help maintain the customer base, and even with the loss of certain employees, the business owner can easily control information as one of the most important assets.
- CRM will help accelerate any business process, optimizing it for more intensive work in a specific area.
- CRM acts as a useful element of information security.
Thus, CRM provides high-quality service to all company and enterprise customers while increasing profits and providing small and medium businesses with a competitive advantage.
What CRM System Is Used For
CRM is useful for solving a specific list of tasks that are relevant for many companies working in different spheres.
CRM hosted solutions are used for:
- Contact base organization. Organization is considered to be the systematization and reliable storage of all information data (about the company or enterprise, customer contacts, completed deals). Any business is based on exclusively clean, clearly planned, and structured data that will help optimize and standardize the sales procedure.
- Lead generation. It’s necessary to remember about the direct relationship between leads and the lead generation process. As a result, the following rule works: the better the lead generation structuring procedure, the higher quality leads will be in the database.
- Building relationships with consumers. What’s the difference between leads that convert and don’t convert? Everything depends on the reliability of relationships built with such leads. Relationship marketing today is called the most significant working strategy that will definitely bring the desired profit to the firm. When gaining consumer trust, it will be possible to increase loyalty levels, turning an ordinary website user into a potential buyer.
- Sales reporting. The capabilities of the CRM system are almost limitless, and therefore a wide range of various reports is presented: about the sales funnel; about users who performed a specific action; about the sales cycle; about lost revenue; about where leads come from and more.
- Building relationships with enterprise employees. The CRM system will help automate a specific list of tasks and work processes. Thus, it will be possible to evenly distribute all tasks so that employees can focus on more important, profitable tasks.
Thus, the benefits of using the CRM system will be guaranteed for different companies. After all, it will be possible to configure the operation of these systems and a specific list of tasks for a particular business.
Cloud CRM: Who Is It Suitable For?
Cloud CRM solutions represent full-featured software that frees the user from any technical difficulties. After all, all concerns regarding software maintenance are under the responsibility of the CRM provider.
As a result, such a system will be especially useful and relevant for:
- All small and medium business owners. Such a system is considered more accessible as it provides the possibility of monthly payment for using the offered functionality.
- Those who have enough standard functionality. All cloud CRM solutions for small business are called maximally flexible in settings, and therefore it will be possible to solve tasks of different companies, regardless of their sphere of activity.
- Those who are implementing CRM solutions in their own business for the first time. Cloud systems have another important advantage – a free trial period, which eliminates possible financial risks for small businesses.
- Those who are looking for a suitable CRM system for new business, for various startups. All young firms are distinguished by their dynamism: their tasks change quickly, business processes are constantly being restructured.
The CRM platform is considered an excellent solution for any companies and enterprises whose work is directly related to sales of all kinds of goods and services. As a result, you can easily track effectiveness, find new solutions to increase sales levels, conduct analysis, and build strategies with certain customer segments.
CRM and Personalized Marketing
Increasing return on investment and sustainable business growth are directly related to personalized marketing strategies. Using CRM capabilities, you can not only receive necessary information about customers but also successfully analyze their behavior and automate all advertising campaigns.
Main examples of using CRM for personalization:
- Customer segmentation. Using CRM capabilities, customer base segmentation occurs according to set parameters: geographic location, age category, gender, purchase history, and more. This will help organize relevant, targeted advertising campaigns in the future.
- Preparation of personal offers. Considering information regarding purchase history and individual customer preferences, you can use unique offers – products/services that will be truly useful and interesting.
- Use of trigger mailings. An excellent example is the process when a user visited the site, filled the cart, but didn’t make a purchase. As a result, CRM will automatically send a reminder email with a special offer.
Thus, CRM is considered a powerful tool for organizing personalized marketing, helping to collect and analyze consumer information, automate some marketing processes.
Lead Management Using CRM System
Quality lead management is called a significant component in the overall sales strategy for business that deserves special success.
Main management stages using CRM:
- Lead identification and attraction. To find out where a lead came from, it’s recommended to use integration with marketing channels and analytics tools.
- Lead qualification. Not every lead can be called truly important for business, and therefore using CRM will allow you to use necessary criteria for distributing all customers and their classification.
- Lead interaction. The CRM system helps perform automated sending of personalized messages, various reminders, and more. All this contributes to increasing chances that an ordinary lead can become a potential consumer.
- Converting leads into real product/service sales. CRM will help conduct a successful sales procedure by organizing a complete process: starting from preparing a commercial offer, ending with deal completion.
Professional providers, such as MIAORA-CCRMS.net, offer strategic CRM integration aimed at stable growth and business development in a competitive market. After all, this system provides many relevant tools for marketing automation, and therefore it will be possible not only to launch but also successfully optimize various high-complexity multichannel advertising campaigns. Due to regular increase in consumer demand for CRM system implementation, investors don’t refuse to use even more innovations for these platform.