In this article, we are going to discuss why startups should use CRM software and what benefits can a CRM solution bring to a Startup.
Improve and grow the relationship with existing customers:
for your business, gaining new customers is hard, so why would you risk losing them? Customer satisfaction can make or break a business, which is why CRM software is so essential.
A CRM system can help you organize all your customer-related operation.
It enables you to understand what your customer's need, what they expect from you, and what you should do to make sure they come back to you and not your competitors.
Efficient service and great products are the keys to success. Customers want a business which they can reach at any time and not have to talk to a robot, and a CRM solution makes you accessible via all channels, so you are right there when your customers need to talk to you.
This also makes you more credible, which nurtures their trust in your brand.
This ease of communication makes sure you are quick to respond and handle any problems as they come up and not wait until the small problem turns into a disaster that can threaten the success of your business.
It’s easy for startups to get lost at first with so much data flying around. CRM makes sure you stay organized and on top of things as it organizes all the data, so you never miss or overlook some critical piece of information, which can cost you a lot when it happens.
CRM software allows startups to quickly follow up with their customers and get a visual overview of all the data they need. When you get organized with the help of CRM software, you will find out that your sales and marketing teams become considerably more efficient.
As a Startup owner or manager, you are driven by ROI However, calculating returns on CRM is not easy, but almost everyone agrees that CRM software improves ROI.
Recent research by Nucleus Research conducted that a CRM solution on average yields $8.71 for every dollar spent.
A more comprehensive study by Microsoft Dynamics (a leading CRM solution), came back with promising but surprising results as it was noted that businesses who started using CRM noticed a:
· 50% Increase in productivity
· $75,000 reduction in Marketing Budget
· 5% increase in sales productivity and uplift
· 2% increase in Revenue
· 10% reduction in consultation time
· 40% reduction in Customer Service Labor Cost
· 20% Reduction in overall Labor Costs
Accurately Track the Agents’ performance:
Your CRM solution can help you gain a better and more in-depth understanding of how your agents are performing.
It can help you identify areas of weaknesses and develop intelligent strategies that can help you assign leads and tasks with better efficiency in the future.
It can show you which agent is gaining more success and closing more deals, which agents need some guidance or are facing some troubles.
In recent years, CRM solutions have started to focus more on exploring the gasification concept to motivate your team by giving bonuses and promotions to the top performers.
Identify and remove inefficient practices:
A CRM solution can consolidate different methods, strategies, tools, and practices to track customer activity more efficiently instead of the business having to try out different approaches to test out which one gets the best results.
CRM software eliminates the dull and automated approaches that can repel customers and instead focuses on building more personal relationships.
It can also help you eliminate all the manual errors that can often be costly and, in some extreme cases, disastrous!