CRM (Customer Relationship Management) is a technology used to manage a company’s relationships and interactions with both potential and current customers. By analyzing data about customers’ interactions with a company, CRM aims to enhance business relationships, increase customer retention, and drive sales growth.
With the help of CRM systems, companies can effectively stay connected to their customers, streamline processes, and ultimately improve profitability.
The idea behind your business and marketing should be to achieve scale – to move beyond the point where the marketing and sales functions:
– don’t rely on a single person, or on
– manual processes, and
– that they can deliver greater results without costing you more.
It may be possible to manage customer interactions on the fly right now. But with growth soon you will be too busy to give this aspect of what you do the proper attention it requires. You’ll stop wowing your customers because you’ll have other things on your plate.
A CRM system allows you to keep a grip on vital customer interactions, no matter how busy you are personally. It also allows any staff member to contribute to your company’s 8-Step Inbound Marketing Method easily. Think about the medium- and long-term implications of this.
Small-to-medium businesses are especially slow at adopting technology and the required digital transformation strategies. In this case, CRM technology to be specific. According to research, close to 68% of large businesses have adopted CRM, compared to only 28% of small businesses. The consequences are that the following are affected negatively in the lacking business:
– Productivity and efficiency,
– Competitiveness and sustainability,
– Profitability and financial viability – something no country can afford to risk.
In my view, CRM is a must. And it should ideally be one with marketing automation functionality. More on this is in chapter 19.
Don’t make the mistake of thinking CRM systems are only relevant to large organizations. There are a range of powerful and cost-effective systems available for small and medium-sized businesses that allow you to manage your interactions and relationships with customers, using all the data associated with them, drawn from your relationship.
I recommend the following CRM and marketing automation systems for small and medium-sized businesses:
• PipeDrive: https://www.pipedrive.com/
• ZohoCRM as part of their ZohoOne suite: https://www.zoho.com/one/
• HubSpot: www.hubspot.com/
• Microsoft Dynamics: https://dynamics.microsoft.com/en-us/marketing/overview/
Choosing the right CRM system is a critical decision that can significantly impact your business’s efficiency and customer relationships. Involving experts in this process is essential, as they bring a wealth of experience and knowledge about various platforms, features, and industry-specific requirements. They can help you assess your unique needs, recommend systems that align with your goals, and ensure seamless integration with your existing processes. By leveraging their expertise, you avoid costly mistakes, maximize the value of your CRM investment, and set your business up for long-term success.
