It is now 2021 with the year 2020 firmly behind us. Needless to say, after the year we have all had, it is time to look onward and upward. 2021 has come to us like a beacon of hope after the rather dismal year called 2020, or the year of the pandemic when everything shut down and businesses were forced to rethink their long-term strategies thanks to the abrupt economic crisis.
In the midst of all this, one very notable phenomenon took place. More and more businesses began to move online. In fact, the growth of digital activities far overtook the growth that had been attained in the same space, over a duration of a decade since 2010. This shows that we have not been pushed back entirely – but we have actually made giant strides that has given rise to a world of new possibilities.
Yet, with these possibilities also comes stiff competition. Are we ready to really challenge those who have been in the same space and those who have managed to mark their presence well before us?
The answer is yes. The reason being, that more and more customers, including the most unlikely ones, have also moved online thanks to the rigors and demands of the pandemic. This has left us all in a state where we are able to find our own audience and cater to their specific demands. The only rider is that we should also be able to fashion ourselves and express ourselves in terms of these specific audiences and their needs.
How does one do this?
Using CRM software is one of the topmost answers that you will find after speaking with a number of experts. This is the tool that can single-handedly change the way a small business behaves in terms of presence, reach, engagement, and quality of conversions.
Relevance is built into every cell of the CRM software and the framework within which it seeks to organize the resources and efforts of the entire business or organization. In this sense, the right CRM software is nothing short of a lifesaver!
Before we plunge right into the benefits or advantages of adopting CRM and making it a mainstream player in our business and the goals that we have charted for the same, let us understand what CRM really is and what it actually does.
What is CRM?
CRM or customer relationship management is a gamut of tools that can:
- Organize the business
- Build teams
- Analyse progress
- Allot resources
- Automate mundane functions
- Create more accountability
- Save time and cost overrun
While all of the above may sound like benefits at the end of the day, the truth of the matter is that the right CRM software can actually change the way you do business so that you are in the driver’s seat even though you do not have to take care of each and every mundane task. This will also keep a tab on how your resources are behaving and how they are giving back to your business.
Let us now understand the 6 major benefits of the CRM software:
1. Revenue Generation:
While many may say that elevated revenue and numbers are a side effect of the various benefits of using CRM software, we would like to state that revenue generation is actually one of the direct effects of using the right CRM software. Not only do you build a reliable presence, matched duly with analytics and better customer servicing, but you are also able to generate and nurture relevant leads to build a credible audience for your business. All this leads to increased revenue generation.
2. Find and Retain the Right Audience:
This is one of the most crucial things that we must do in order to make our business scalable and sustainable even before that. We have to ensure that we reach the people who will be most prone to respond when it is time for a re-sell, an up sell, or even a cross sell.
With an eye on such a goal, the CRM seeks to give us the right data so that we are able to get to the right people to build a brand that hits the bull’s eye in the right segment each and every time!
3. Better Communication:
The team that communicates well, stays well – and together! Deep down inside we all know that mantra, but the on-ground reality is very different for a number of businesses.
How can your business be different? This can be done with the help of the right CRM software since this would help us cut out the mundane tasks and the needless communication. The automation and the notifications would take care of all this so that only core skills are exercise for rather motivating results in the conversions department!
4. Insight Driven Activities:
Have you often wondered where you are going and whether or not you are on the right track? Now, when you are using CRM software, you can save a lot of expensive and resource-depleting mistakes from happening.
The regular analytics and insights will help you take corrective action so that you are able to reach your goals in a straightforward manner.
5. Efficient Customer Servicing:
When you are able to understand your customer in a better way, you are not only in a position to deliver the right goods but you can also ensure that the customer servicing is several notches higher. Plus, with the automation of mundane tasks, you will be able to well and truly concentrate on the customer. This would build higher brand credibility in the market and help the word of mouth spread that much faster as well!
6. Marketing Funnel:
The marketing funnel will be a strong one when you employ CRM software because you will be able to get the data driven campaigns in place thanks to all the analytics and insights provided by the software or the platform you use.