If you have just started your own sales business or have owned one for some time, you have probably noticed that the list of customers gets longer each day. In case this hasn’t yet become overwhelming, you might not have any idea about CRM whatsoever. Nevertheless, if you feel like your customer numbers are getting slightly out of hand, it is time to learn all about this fantastic tool.
CRM has become famous in the business world as it is said to bring $8.71 on every dollar invested, based on data from Nucleus Research. What is more, this number seems to be increasing as the technology behind CRM becomes more sophisticated. So, what is CRM all about?
CRM is an acronym for Customer Relationship Management. It is a piece of software that does what its name suggests — it improves the relationship between your company and your customers.
Simply, a CRM is a database in which all the details of your customers are stored. Apart from your customers’ basic information, a CRM also saves data on any previous interactions and completed transactions, as well as things like social media activity.
Whenever new details are collected, the CRM stores them in an organized database that is easy to use and access by every employee in your company. Therefore, anyone who needs to reach a specific customer and ensure they stick with your company in the future can access their whole story in a single click.
In this way, an employee can use all the details to make the customers’ experience more personalized every time they communicate and let them know that the company cares about them.
You can easily see your customers’ spending habits and know what products they like, which is extremely important for giving them more of what they need in the future. If you’re up for additional reading on the topic, you can do it here.
Why Does My Business Need CRM?
If you’re still wondering why you would invest in CRM in the first place, let’s go back to the very beginning of your business startup. At that time, the only people who knew about your company were most likely your family and friends. In other words, your customer circle was probably small and included people you’d known for years, so you didn’t need anyone to help you with keeping your relationships with them in order.
However, once the business expanded, you started catering to people you knew nothing about. As the number of customers increased, the spreadsheets could no longer keep all the vital information neatly organized.
This leads us to the first reason you need CRM, and it’s a self-explanatory one — you need it to keep all your customers’ information in one place. Other than that, CRM will also help you:
- Keep up with your company’s progress,
- Stay connected to your regular customers,
- Create a more personalized customer experience,
- Make vital information easily accessible to your sales team,
- Increase overall productivity and profit.
How to Choose the Right CRM for Your Business
Assuming that you know what CRM is by now, you’ve probably looked up a few potential programs that seem like good enough candidates. For example, you might have found HoneyBook, and now you’re wondering why HoneyBook is the best CRM for consultants.
To answer this question, you should first assess your business objectively and ask around about the features the platform in question offers. After that, you can compare the results and see whether the supply meets the demand.
In case you have a small business and need assistance with invoices, proposals, scheduling, contracts, integrations, automation, or all of it combined, you should go for this option. However, don’t rush it — if you do your homework when it comes to CRM selection, you can rest assured that the software will not fail you when the time comes for it to shine.