Is Your Business Ready For A Customer Engagement Upgrade?
A customer relationship management (CRM) solution that is haphazardly or impulsively purchased will likely do very little good for your business. Truly implementing a CRM system in a meaningful and impactful way is a commitment of both time and money. How do you know if your business is ready to implement a CRM system? If any or all of these 6 statements are true for you, your business is ready for a CRM solution.
1. The number of clients you have (or want to have) is too large for your current system to handle.
If your business has recently experienced a period of growth, or you have tapped into a new market of customers, it is very important to make sure that you are ready to handle the higher demands. And if you recently experienced a surge in growth but are now noticing some of those customers fall off, it could be because your business’ system cannot handle this number of people. A CRM system can merge several currently separate databases into one streamlined system that can grow with your business. If you only use a system that is “just enough for right now,” then you will never be able to grow to your full potential.
2. You want to get to know your customers better and improve your relationships with them.
There are some things that humans are simply better at doing than computers will likely ever be. Initiating and maintaining real human contact and relationships is one of them. That being said, a computer will almost always be better at organizing and sorting data and recognizing complex patterns than a human will ever be. A CRM solution gives you the best of both worlds. By unloading the tedious data analysis to a machine, you can focus on the human aspect of your business. This is what your customers will remember, and with the insights a CRM software can offer, you will be a whole lot more informed while doing it.
3. You want to improve internal communications within your business and/or you want to increase collaboration between employees.
Today’s businesses in the New Economy must embrace collaboration and teamwork, and fortunately there are tools to make this a reality in a way that was never previously possible. Many of the currently available CRM solutions, especially those that are on-demand or cloud-based, take advantage of the flexibility and mobility the Internet has to offer. CRM systems can give everyone on your team access to the data that is relevant to their jobs, empowering them to make the decisions they need to when they need to.
4. You want to optimize your marketing.
Businesses that embrace CRM systems have the advantage of accessing their company’s data in order to efficiently identify strengths, weaknesses, and trends. This information can directly inform your marketing strategy. With CRM software you will be able to identify trends with the habits of individual customers or accounts as well as larger trends within your entire business. Leverage this by targeting your marketing toward your strengths as well as your weaknesses by first addressing the weakness and then touting that as exactly what it is: paying attention to customers’ needs and responding accordingly.
5. You want to simplify lead management.
New customers are an important component of any business’ growth strategy. However, the costs for signing on new customers are significantly high for many businesses. CRM software can help reduce these costs by streamlining information, making it easier for your sales teams to enter data and get a customer going with your business. By having access to all existing and previous customer trends and preferences, your sales teams can also quickly find a situation that is comparable to a lead’s and offer services or products that meet their needs.
6. You want to increase productivity and revenue.
The promise of CRM software increasing productivity and revenue is very real, but not because the software offers a magic solution to all of your business’ challenges. Rather, CRM software can simplify what you are doing and remove tasks from employees that are better done by a machine, allowing your business to make better use of its largest asset: human ingenuity and perseverance. CRM solutions give your employees the tools they need to be most effective, and this will translate into your bottom line.
It is very important to remember that a CRM system is not a silver bullet that will immediately fix all problems that your business is having, nor will it automatically result in higher profits from day one. Rather, a CRM system is a tool, and a very powerful one, that when used the right way can drastically improve your business.
Learn more about what is CRM and explore solutions on SAP.com.