CRM Software: 6 Points That Show Your Business Needs It
As a business owner, you may feel overwhelmed at times. It may be either due to a setback in the growth of your company or, on the flip side, it may be because your organization is growing fast. You may find that things are going out of control and you don’t have a clear picture of how to plan the next steps.
To add on, when your business has just kick-started, you can simply reach out to prospects whom you think may be interested in your business. However, this cannot be possible when you are managing a fully developed business.
From these scenarios, you should understand the value of customer-centric data. From identifying the sales leads, managing customer information, or assessing your performance, data can be a key differentiator.
However, managing and maintaining this data is complicated. It can be difficult to analyze huge volumes of data from a logical perspective along with maintaining data security.
Moreover, even if you have a solid system to store data, using this critical information at the opportune time is cardinal. For example, you may have recorded when a client’s contract is expiring. But if you aren’t notified at the right time, you may lose your lead.
So, how do you manage these contacts and find a solution?
A Customer Relationship Management (CRM) software helps you reap the maximum benefits of your contacts. Though your CRM system software may not be a magic bullet to solve all your business-related problems, it does help you streamline business operations, build, and maintain customer relationships.
The global customer relationship management market size was valued at USD 43.7 billion in 2020. The market is expected to grow at a compound annual growth rate of 10.6% from 2021 to 2028.
Now, how will you know that your business needs a CRM? Here is how you can realize it.
1. Unorganized Customer Data
You may find it comfortable to muddle through excel sheets, but have you ever grappled to find your customer’s email address or shipping address through these sheets?
Your customer relationship management software can provide you with a centralized repository of information. You will simply need to update the records one time. These changes are reflected across the system from there onwards. One single search for information offers you the complete history of transactions of the customer with your organization.
Archarina’s ArcCRM comes with the capabilities of a search filter. You may simply enter the customer name/keyword or any other detail to obtain the full details. ArcCRM offers a 360-degree view of the customer details along with their full history of transactions.
Equipped with this software, you will not need to look for information all over but simply query your CRM for the desired results.
2. Lack of Visibility
Working in silos can be detrimental to your organization. When every sales representative has a different way of working, it may take things out of the loop.
Your contact management software can help you here. The ArcCRM comes with capabilities to track prospective opportunities corresponding to the representative who is associated with the prospect. It gives a complete view of the potential opportunities in the pipeline that may be converted into accounts.
These leads are then closely tracked to find their interest. This is done through follow-up calls, meetings, emails, and targeted campaigns.
This information available in a single, easy-to-use interface breaks through silos and helps to connect to the right people for better conversion rates.
3. Multiple Points of Contact
The number of communication channels through which prospects can be contacted is numerous. However, these points of contact can be difficult to track. By documenting a history of all your interactions with customers, prospects, and leads, you streamline communication, which helps in support, marketing, and sales.
ArcCRM helps you do this and more. It allows you to maintain a complete history of customer transactions with your business. This way, anyone can understand the position of a prospect in the sales funnel and continue nurturing the lead from there.
The best part is that you get full control of customer transactions while still providing multiple communication options to your customers.
4. Inappropriately Managed Lead Flow
With a steady inflow of leads, you must manage them competently to convert them.
Your CRM solutions can help you categorize and prioritize the leads.
For example, in ArcCRM, you can create opportunities and categorize them based on the sales representatives who have nurtured them. Also, you may perform operations like updating, editing, or deleting to modify these opportunities. You can also add specific notes about particular leads for better clarity.
This systematic representation of data helps in effectively managing the leads and improving conversions.
5. No Focus On the Right Customers
Earning customers is difficult. However, you shouldn’t struggle to identify your valuable customers and ways to retain them.
Your CRM can support you in this process. As mentioned above, CRM saves the end-to-end details of the customers in your sales pipeline. With these details, you can analyze their spending patterns, create customer personas, and predict their requirements.
Furthermore, this information can help you upsell, cross-sell your products, initiate contextual discussions, and therefore strengthen your relationship with them by accessing the right type of data.
6. Manual Reporting
Manual data entry and generation of reports can be time-consuming. These reports are also prone to errors.
When you use CRM software, you can easily import information filled in an online form or any other data source like emails, calendars, and social media platforms.
Also, as you have information saved on a single platform, generating reports becomes easier. You can produce detailed reports that have refined information on focused areas. For example, if you require information about the deals closed by an agent for a particular year, you can filter for this information on CRM and obtain the reports.
If you are feeling lost and lack the clarity to analyze, refine, and target your prospects, it means your business needs a CRM.
A Customer Relationship Management tool can categorize, filter, and generate comprehensive reports. It can also support you to anticipate your customer requirements based on their transactions with your business.
Are you ready to take the plunge? Reach out to us for more details about ArcCRM!