Why a Customer Relationship Management (CRM) Platform Is a Necessity for Small Business (SMB) Growth
Customer relationship management is a key driver of business growth in any company, but it’s particularly important for smaller businesses. The small business stage is a pivotal time for a company; you’re building out your operations in more ways than ever before, and you have more customer data than you know what to do with.
Companies that want to continue their growth and stay on top of their customer experiences need a structured, organized way to manage all this data. In other words, a CRM platform.
The Benefits of CRM
Let’s review eight key benefits of CRM.
- Data Management
CRM systems store all customer data in one place, making it easy to look up specific details or locate key datapoints to share across the organization.
- Automated Data Entry
Forget logging client phone calls, email interactions, or meeting notes. The right CRM automates data entry, freeing up your time to focus on more important tasks.
- Contact Profiles with Interaction History
CRM systems log every touchpoint across every customer interaction to create complete profiles on every prospect, no matter where he/she might be in the sales cycle.
- Know When to Follow Up
CRMs create end-to-end timelines of where each customer is in your marketing funnel, making it easier for sales reps to score leads, determine priorities, and follow up at the right time.
- Team Communication / Sharing Info
Your CRM centralizes all customer data in one place, which can completely change the way your team communicates. Use your CRM to tag team members, assign leads to specific reps, create notes on prospects for future reference, and more.
- Sales Forecasting
Forget using spreadsheets or third-party software for sales forecasting. The right CRM will automate aspects of long-term forecasting, offering data comparisons, summaries, and visualizations to support your future goals.
- Can Grow With the Company
Manual data management isn’t feasible for companies beyond their earliest stages. As your database grows and your sales capabilities expand, you’ll need a system that grows alongside your company.
- Saves Time
Overall, CRM helps you cut through the administrative inefficiencies slowing you down and helps you make better use of your time.
Finding the Right Platform
The right CRM can redefine the way you manage your customer relationships. But there are plenty of options out there, and certain platforms may be better suited to your business than others. Some tend to get pretty expensive at a certain point, so it’s important that you find one that matches your budget.
If you’re looking for a place to start, Hubspot offers a free CRM that is highly rated by experts. It's a great option that can be easily customized, and we’d recommend it as a great starting point for SMBs looking to grow their business. Contact us if you'd like to discuss options.