Why Startups Shouldn’t Ignore CRM?
We are all aware how some smart startups had reshaped world’s economy during the past century. Since then ‘startups’ are always taken on a serious note. They are regarded as the birth place of great innovations and therefore of, successful businesses. But, unfortunately, many startups disappear as soon as they start and when there can be ‘n’ numbers of reasons for that, lack of customers often tops the list.
Many enthusiastic entrepreneurs although are great inventors lack in effective marketing skills to sell their products to the right market. In such situation, a customer relationship management (CRM) software can prove to be an essential business strategy for them.
What is a CRM?
You do not manage a relationship with your customer but strive to build one and the software can help you in that. Although the name says ‘customer relationship management’ in actuality it helps you to learn and know more about your customers.
By definition CRM applications are databases that store, organize and manage your contact details so that you always have all your customer information readily available to you. However, more advanced versions can also prove to be an essential marketing tool for your business. The benefits a business can derive from it are:
- Useful insight on customer behavior to anticipate changes
- Improved customer service and reduced cost of customer management
- Attracting new customers and retaining the old ones
- Building peer-to-peer relationship with customers
- Increasing the number of returning customers
- Managing social media activities and brand positioning
- Improved chances for up-selling and cross-selling
- Real time updates on sales leads
- Target marketing with effective lead management
- Managing marketing campaigns form within the CRM
CRM companies are striving to build their product as a comprehensive marketing tool that will boost your sales through:
- Contact management by standardizing data entry norms across the firm
- Sales process automation by reducing scopes of redundancy and repetition
- Reduction in error that will automatically translate into improved efficiency
- Streamlining business and therefore, improving management
- Sales performance monitoring - from contacting the prospect to closing the deal
- Leads and inventory management
- Customized reports for performance analysis
- Inbox management
What’s in store for startups?
Startups are often limited fund ventures where each member of the team may be performing multiple tasks. Moreover, they often lack in clear business objectives or don’t have a clear strategy to achieve their targets. A CRM solution can help them in discovering their true business potential through an effective lead generation process. It can help them in organizing all their business contacts at one place through contact import facility.
For small companies it is easier to build personal relationships with customers but it needs a careful approach since it is crucial for wining customer loyalty. Customer management software helps you in building personal relationships with your clients as you gather and store updated information on your customers in it to access those as required. Always learn who is returning to you to forge a stronger relationship with them.
Generate More New Businesses
Building a strong customer rapport is vital for your enterprise. You can set up the customer management system to send emails to all your contacts at regular basis. Also set a follow-up timer to fire occasional reminders. It could have been tiring if you had to do it by yourself all the time. CRM significantly makes the daily operation more efficient by automating the sales process.
Social Media Integration
In the coming days, social media will play the most curial role in determining the success of a business. As a result, companies are giving more importance to building and managing their social media profile through engaging customers on the networking sites. Modern CRMs have integrated social media to the platform to allow users track their social footprints from within the interface.
An ideal startup CRM solution should be simple and effective. Often startups have specific requirements that aren’t met by large enterprise CRM versions and so, a startup should look for a CRM that can be easily customized. Current web-based small business versions of customer management software offer easy customization solutions to fit into your niche business setup.
Author Bio: Paul Anderson is a CRM software consultant based out in California. For over five years he is working with CRM software solution providers offering CRM consulting services to a wide market vertical. He brings in his wealth of experience on Sugarcrm customization and solutions to his writings on webs and blogs. He is an avid reader and enthusiast blogger and engaged with many online communities. He also loves outdoor sports and often goes fly fishing with fellow enthusiasts.