Your business and customer base keep on expanding and you need to start the research on how to improve the customer relationships and manage the sales. CRM or customer relationship management simply refers to the business software that tracks all the interactions with your sales prospects and the customers.
The correct CRM software can give power to your business like nothing else. If it is implemented properly, the CRM will store and manage the customer data, track the interactions and also help you win more customers by boosting the sales team’s ability to improve the support team’s customer service, close the deals and automate the marketing.
But does your business actually need a CRM software? And is CRM worth the investment for you? We are here with a few of the top points to identify if your business will get benefit from CRM software or not. Let us have a look over all. Also, many top CRM tool is required for your business.
- You cannot remember every prospect
The first sign showing the requirement of CRM for your business will be when you need to handle more prospects than you can remember. If you forget to follow up and lose your heads to the competitors then it is the correct time to take action.
Using a CRM, when you add a new lead to the sales cycle, you need to build a timeline that shows interactions with them along with generating the full history of all the relationships. At the same time, the CRM system also helps you to set the follow up dates and reminders for each prospect hence, you do not forget the things.
- If you prospects have multiple points of contact
If the customers and prospects are talking to multiple people within the organization, it can be easy to track what is being communicated over the period of the sales cycle. It can even happen that someone took a message and didn’t pass it further to another person dealing with that account.
A CRM software provides all the detailed documented history of all the interactions with them, showing who has said when and what. If you use cloud-based CRM, it will let your entire team to actively collaborate in the real-time, record messages to account and set the follow up tasks for the colleagues, also when working remotely.
- You operate B2B
All the major CRM features are built to B2B model with contacts i.e. individual people belonging to the accounts of the companies you perform business with. You can use the B2B systems such as Really Simple Systems for the Business to consumers but it is not suggested and you might stay better using a simple contact management system instead. If the business operates in a mixed environment of B2C and B2B, the compromises still make CRM software a worthy investment.
- You act on instinct
The visibility of data is equally important as collecting it. Rather than only relying on the gut feel, the CRM provides data that you require to make the business decisions. If you wish to run a sales forecast or review the sales, marketing or other activities, then CRM software is the one that you need.
Right from the probability that the sale will close till the number of customers who clicked on the latest newsletter of your company, the CRM can give all the data into a report for easy analysis.
- You manage sales people
If you have sales people, then you need to make sure that the details of their prospectus are under your control. It means that you must be able to monitor what they are doing and make sure that when they leave your business, their sales pipeline does not leave with them. Not only that, the CRM system also shows how they are performing and the value of customers they bring to your business.
- If you have a lengthy sale cycle
A lengthy sale cycle may last for many months. Hence, it is likely that you won’t remember where each part of it is in the sales pipeline, and what was completed in the last call. If this is a case with you, you need a CRM software to easily pull up the history with the customer and continue where you had left.
Also, if you have made personal changes during the process, you should not be left trying to decipher what has gone before.
- You run marketing campaigns
If you tend to run email marketing campaigns either to send out the simple newsletters or to do more sophisticated segmented marketing, you must get the CRM as it brings a lot of benefits. Ideally, you must select a CRM having integrated marketing tools so that all your important data is held in one place. At a later stage, when looking at the prospect in the CRM, you can check if and how they respond to your mailings.
You never need a CRM if :
There are a few of the instances where CRM might not fit the requirements of your business. A few of the points are:
- You don’t require a CRM if you are an only single man/ woman band. It is so because you won’t have to manage the sales staff or their activities.
- If you get a small number of leads every week, the less leads bring you less to remember. Hence, at such point there is no requirement of CRM.
- You only have a few number of customers whom you can easily manage. If you only have limited customers, it becomes much easier to manage them and hence you might not need CRM.
- If you have a shorter sales cycle with no repeat business. If you don’t have a lot of repeat business then you won’t even have the need to record the customer histories. Hence there will be no need to use CRM.
- If you are selling B2C especially through e-commerce, you might better be opting for a dedicated B2C marketing system that captures sales history instead of going for a CRM software.