Do you have a CRM strategy? Well, even if you don't know what that is, you need one. You need a customer relationship management strategy for your small business to make the most of the opportunities that come your way.
CRM most often refers to the software enabling integrated information systems that records data and interactions with existing and potential customers and manages the data collected.
A CRM system ensures that all functions of your business — such as sales, marketing, and billing — are synchronized and efficient.
Do I Need a CRM Strategy?
It's simple. CRM helps you stay connected with your customers. Implementing a CRM means you're streamlining your processes, with a better chance of increasing your profits.
The key to successful CRM is using your CRM system, tool, or plugin to manage each instance of the customer's interaction with your company.
Customer Database
More sophisticated CRMs allow you to customize database fields and entries to suit the needs of your business, and to import customer data from the existing software you use.
Sales Funnel Architecture
CRMs allow you flexibility as to the type of sales funnel you set up. One possible sales funnel would be: Lead > Quote Sent > (Free) Trial > Customer Subscribes > Subscription Renewal.
Lead Scores
With an organized database and an established sales funnel, you will be able to spot trends and who your best leads are. Lead scores identify those customers who are most likely to convert.
Depending on your CRM system, you can set up a separate funnel on customers with high conversion potential, and optimize results by spending more effort and resources on them.
Reports and Stats
Imagine having the following reports easily accessible from a single dashboard: quarterly and annual sales forecasts, reports showing where in the sales funnel you lose customers, and data on how long it takes for leads to result in a conversion.
It's not as if you could not generate these reports without CRM. The point is that with CRM, you can see and analyze this data much more quickly.
Workflows and Follow-Ups
CRM helps you update and follow-up on leads. You can set up reminders to prevent your contacts from going cold. A systematic CRM approach means that you provide customers with a more positive experience while doing so.
Multiple Payment Channels
Your online store is a prime opportunity to provide customers with an agreeable experience. Who knows? This might be the start of a beautiful, long-term relationship.
How do you do it? By establishing a hosted platform that brings multiple payment channels together. In other words, a platform that offers payment gateway integration.
That way, your customers are less likely to click away because they cannot pay via their preferred payment method. Payment should be as painless as possible, and a CRM strategy can help you achieve that.
Who Needs CRM?
Anyone in any line of business that has a digital presence needs a better way to manage customer interactions. And that better way is a CRM system. Successful businesses are the ones who map out and keep fine-tuning their CRM strategy.
CRM systems, tools or plugins do not have to break the bank: there are reasonably priced solutions available for businesses at every stage of development. Choose one and begin your CRM strategizing today!
