Why not having CRM software can cost you money

Why not having CRM software can cost you money

If you’re a small business owner, you know that customer relationships are vital for success. These aren’t easy to establish or to maintain. But luckily, software solutions like CRM can help you with that. Most owners have heard of them. However, they’re still hesitant to adopt them. They say that this feels like a giant leap that they can live without. But, what if we tell you that you’d be earning a lot more if you had it? In fact, there are many reasons why not having CRM software can cost you money. And today, we’re talking about that.

We all know that CRM is essential for big companies. They all use it, and they love to talk about it. However, that doesn’t mean that a small business can’t benefit from it. If you decide to adopt it, plenty of new doors will open for you. You’ll get better analytics and a chance to automate and optimize some of your processes. That alone can be a creative way to get out of debt. Or a tool that will eventually lead to that. But there’s a lot more to it.

Before we dive any further, let’s look at what CRM is.

 What is CRM software?

CRM is short for customer relationship management. So, it’s a system that helps you manage data from customers. Of course, these can be built with a specific industry in mind or with just general features. Hence, even if you go with the most basic option out there, you’ll get features like customer support and sales marketing.

In essence, CRM is your ultimate salesperson. If you know the name of the customer, the system will have all the information about them. Then, with a click of a button, you’ll know what you sold them, when, how they paid you, and how to reach them.

So, it can help you understand what your customers want and when they want it. And if you spend some time studying the information, you’ll quickly realize how to improve your relationships with them. This will lead to more and more people coming to you, and your company will grow.

A computer showing some data

Why do you need CRM software?

If your sales numbers are going down or aren’t growing at the pace you want, you’re doing something wrong. That’s clear. However, when your processes become complex, it’s hard to figure out what the problem is.

With CRM, you’ll have a clear overview of what works and what doesn’t. You won’t have to rely on your gut feeling anymore, as you’ll have plenty of data and numbers to look at. And from there, it’ll be easy to decide what your next step should be.

If you’re in the moving business, for instance, there’s a software called MoversTech CRM. It allows you to see your process as you never looked at it. So, it makes it easy to figure out where your time-dumps are. And when you know that, you can focus on things that will bring more customers and money to your company. The thing is that with CRM, you get the ability to channel your resources into methods that you know will work. If you don’t have it, you have to follow the path of trial and error. Hence, it’s clear why not having CRM software can cost you money.

Benefits of having CRM

We figured out that the best way to show you how much money you’re losing without CRM is to let you know what you can do with it. So, let’s take a look at all the time and money-saving things you can do with this system.

Automate your processes

Automatization is essential for so many reasons. As your small business grows, you’ll have to deal with more and more tasks you don’t enjoy doing. At some point, it will become overwhelming. So, you’ll have two choices. To hire a person to do it for you or to automate it with CRM.

We don’t have to explain why the latter is a better way to go. Hiring a new employee is costly. Therefore, if you want your small business to save money, that’s not what you should do. With CRM, on the other hand, you can be sure that all those time-hungry tasks will get done routinely and efficiently.

An executive talking about why not having CRM software can cost you money on the phone.

Manage the sales team

Micromanaging your sales team is the last thing you want to do as a leader. And if you have CRM, they can log their performance. So, you can see how productive each member of the team is.

Basically, it will allow you to translate their work into calculable information. And when you have this information, you can use it any way you like. The important thing is that it makes your job easier.

Smart email marketing

Another great thing about CRM is that you can sync it with your Gmail, Outlook, or any other email provider. This is vital as it helps you create email campaigns that are efficient. You’ll get insights on interactions, so you’ll always know how they’re performing. It’s easy to make things go your way when you can track opens, click-throughs, and bounce rates.

Customer relationship management

If you’re keeping your customer data in an Excel table, or even worse, in a cabinet, you’re already losing money. You want to have up-to-date information, and you need it to be easy to access. And what you don’t want is digging through your hard drive just to find some information about a client you’re talking to. 

If your sales reps lose focus because they don’t know who they’re talking to, that can cost you a deal. And in times when every small business is learning how to curb losses caused by a Coronavirus, that’s the last thing you need. 

However, with CRM, as soon as they pick up the phone, your employees will have all the information they need on display. This makes it possible to manage all requests, questions, and concerns in real-time. As a result, you’ll get closer to your customers, and that’s where you want to be.

People working in the office.

Conclusion

By now, it should be easy to see why not having CRM software can cost you money. It’s not a thing reserved for big leagues. For a small business, it can boost performance quite a lot. You’ll get a chance to improve your personalization and people skills. So, even the smallest players out there can profit from it. 

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