CRM Software Solutions for Businesses
Every year almost 150 million businesses are set-up by around 300 million entrepreneurs out of which only 50 million i.e. one-third of them are able to see the light of the day. While the numbers might seem impressive, the competition out there is pretty fierce. So, what is it that these start-ups require to sustain this competition? Since there are no cookie cutter routes laid out for entrepreneurs, the only way to attain sustainable growth is to aggressively work towards building a customer-centric work culture.
Though building strong customer relationship is key to the success of any business entity (small or large), the significance of the same for start-ups is more critical. According to a survey report shared by Gartner 89% of companies are expected to compete mostly on the basis of customer experience. So, how can you provide your customers with stellar customer service? The answer to this lies in leveraging the right technology support that can help businesses provide their customers with friendly, one-to-one customer support.
Today, with customer data becoming the cornerstone of organizational success, businesses are trying to make the most it by implementing the right CRM (Customer Relationship Management) software. While handling humungous customer data might seem to be intimidating for start-ups, they can easily keep their customers happy and maintain a healthy sale with the right CRM software in place.
As we step into 2019, it is in the interest of every business entity to have in place a well-integrated CRM solution that will help them weather the challenges and sustain in a cut-throat competitive landscape.
According to Research conducted by Nucleus research, for every dollar invested in a properly integrated CRM solution, ROI of approximately $2.50 to $5.60 is generated.
Listed below are some of the many ways in which CRM software can spearhead the growth journey of a start-up:
- Improved Business Growth: A robust CRM software can help entrepreneurs grow their small business by reorganizing their sales pipelines and customer data while provide them with insightful analytics. This organizational power of a robust CRM allows helps entrepreneurs to augment their business efficiency while run their operations with precision.
- Augmented Customer Satisfaction: Since, a CRM automates all the marketing activities such as lead generation, lead management, client interaction, etc start-ups can resolve the queries of their customers in a quicker and better way.
- Better Decision Making: The way businesses manage their connections decide the fate of their business. This becomes all the more significant for start-ups who are at the initial stage of customer acquisition and thus require winning their trust and loyalty. With a robust CRM tool in place, start-ups can manage the increasing list of connections as a CRM provides all the necessary customer/ prospect information at a single place. This helps them in making intelligent business decisions.
- New Customer Acquisition: Since start-ups cannot afford to lose a single customer, they need to be on their toes in gathering every sign of interest from their prospects. With a CRM integrated solution in place, the action of prospects and visitors can be captured. The web forms being an integral part of a CRM system easily tracks the course of the prospect, figure out the time spent by them on each page, exit intent etc. This data helps in understanding prospect behavior, which further helps in lead capturing, nurturing and ultimately conversion to paying customers.
CRM Trends in 2019:
Since AI and machine learning have already been orchestrating with CRM software, the association is expected to produce new types of customer relationships in 2019. In fact, AI and machine learning-driven CRM will enable businesses to achieve next-level in their sales and customer relationship endeavor, which will ultimately bring significant improvements in their productivity. Though machines cannot completely replace exact human interaction, they are certainly getting close. Who knows AI driven CRM might someday change the common perception of machines being cold, informal, and dehumanized to providing a more personalized customer experience.
As you head into 2019, choosing the best CRM for your start-up should be of utmost priority. While streamlining your business operations and increased profitability are some of the key benefits of implementing a robust CRM solution, there are several other benefits that your start-up can realize with the right CRM system in place.