Why CRM Is Required Even By Small Business
Nowadays, CRM is not only important for large scale businesses but it is also equally important for medium size businesses and small businesses. According to a study, around 90% of new startups fail because they focus only on product development instead of customer relationships.
But now the trend has changed, many small scale companies have realized the importance of Customer Relationship Management (CRM) in the growth of their business.
And if you really think that CRM can help you to grow your business at a rapid pace then you can visit our website for more information. In this article, we will discuss why CRM is required even by small scale businesses.
CRM Is Beneficial For Which Industries?
According to last year’s stats, the usage of CRM Softwares increased from 56% to 74%, it clearly shows us that a large number of companies rely on CRM and customer-centric strategy.
The growth in the usage of CRM software is because it is a highly customizable software, so you can use this software in any industry, for example, the transport industry, e-commerce, online education, etc.
If we see the stats of the past 10 years, the usage of CRM software has increased by 600% and it is expected that till 2025, this CRM industry will make a handsome revenue of $80 billion. Whatever your business is CRM always helps you to grow your business at a rapid pace.
Now let us discuss why CRM is important for small scale industries:
1. Run Well Managed Email Marketing:
The biggest mistake that small scale businesses do is that they ignore email marketing. They assume that in the current scenario, email marketing is not as useful as it used to be but it was found that around 93% of B2B marketers said that emails are the biggest ROI (Return On Investment) drivers.
CRM software helps you to do email marketing in a proper manner. CRM software helps you in doing email marketing in many ways:
- Save emails and share them with your employees.
- Calculate the result of email campaigns.
- Send emails to your customers and teammates at the same time.
2. Collects And Manage The Customer Data:
This is one of the best features of CRM. It collects and manages your customer data/ For example, it saves date regarding personal preferences, interested product details, and many more other important details regarding customers.
With the help of this software, there is no need to waste your time in finding the preferences of your customers, you will have the preferences of your customers on your fingertips. You can easily find your customer data in a couple of minutes, which is very important for a growing business.
3. Better Management:
When we start our new business we do not have enough money to hire a large workforce, then there are very high chances of losing current customers.
But when you use CRM Softwares then there is a guarantee that all registrations on your website which are done by your customers will end up in your CRM database and creates the customer’s profile that strengthens the bond between you and your customers.
4. Increase Sales Performance:
According to stats, the businesses that use CRM in their work, report a 34% increase in sales productivity. CRM software fills a customer profile with customer data, sending emails, and many other things that will be done by CRM software on its own, which helps in increasing the sales performance of your business.
5. Improves Sales Strategy:
As we discussed, CRM Softwares are highly customizable. CRM helps to visualize your sales process and also highlights the points from where leads often quit. With the help of this software, you can make attractive quotations that attract your customers towards your product and also gives you the email marketing facility in which you can send an email to your existing customers and new customers which gives the information about your new product to your customers.
If you have a proper CRM system then it is very beneficial for you because the CRM system update helps you to stay up to date according to the needs of your customer.
In this article, we talked about some amazing stats of CRM. We also talked about why CRM is required by small businesses and then we talked about the importance of CRM in small scale businesses. Then what are you waiting for? If you really want to grow your business, you can use CRM. At Seattle New Media, we have an experienced team that will help you to achieve your day to day and long term business targets that will help you in growing your business.