5 Reasons Why Small Businesses Need To Invest in a CRM Solution!

Australian businesses typically lose four billion dollars every year because their customers were not happy or did not receive treatment as per their expectations, states a report by CX Central. This data throws light on the fact that a superior customer experience is paramount for defining success for any business. Investing in a solution that helps businesses organise their processes and assists in adopting a customer centric approach is considered to be an advisable move. It is of course understood that every business has its own business goals and problems they are looking to alleviate and hence will require distinct features in a CRM to provide them with the business solutions. Consulting industry leaders providing CRM for small businesses in Australia to get the solution implemented according to your requirement is hence the need of the hour for many businesses.

What is a CRM?

Prior to understanding the advantages of CRM, it is important to know the exact capabilities of it. The definition of CRM differs according to several parameters, such as when CRM is taken as a technology it is explained as a cloud based product used to record, report or analyse interactions between the customers, clients, suppliers and other associates. When CRM is considered as a strategy, then businesses consider it as a tool for managing relationships with the existing and prospective customers. And, when CRM is regarded as a process, it is the one adopted by businesses to develop and foster relationships. In a nutshell, CRM is a tool that gives a holistic view of the entire customer journey and quick insight of all the interactions they had with the business. Furthermore, the tool offers easy access to the appropriate information that is required to have meaningful interactions with customers.

Five signs why it is the right time to invest in a CRM solution

If any of the following problems is slowing down the propelling wheels of your business success, then it is the right time to get in touch with CRM solution providers for small businesses in Australia.

1. Decentralised data

Data, when used judiciously, plays an important role in converting a qualified lead into a customer. Sales representatives might lose time and productivity in surfing multiple emails and reading every interaction with the particular customer. It may happen that they might miss out points and as a result end up sending repetitive mails to prospects which ultimately creates a negative impact. A CRM has all the required information loaded with multiple filters to help executives reach the right information. Furthermore, the data is available at the ease of a single click, easing out efforts of sales professionals. Intelligent CRM solutions offer a view of statuses of all the leads from a single screen enabling professionals to plan their strategies better.

2. Inability to leverage from the customer’s social media presence

Evidently, social media platforms are acting as a word of mouth for several businesses. Customers rely on social media extensively to evaluate products and services of any brand. Integrating customer’s social media profiles with a CRM can help businesses tailor bundled services/products and increase revenue generation opportunities. Furthermore, the same integration can help businesses improve their social media presence and attract prospects.

3. Communication gaps

Employees working in different shifts or from remote locations may find it difficult to keep their data organised and updated with their team members. Since a CRM has the facility to log every interaction with the client, different teams can access the system to note the status of every customer/prospect and initiate a conversation if required. Time of the team members is managed more effectively since every bit of the required information is stored in the system and shared amongst all.

4. Lack of data security

Many businesses still use traditional methods such as excel spreadsheets, email folders or calendars for capturing and maintaining their customer’s information. There is a high chance that this data is vulnerable to attacks, theft and data recovery is not always available. With a CRM being in the cloud, businesses can remain secure with all data being saved with ample security and disaster recovery options. Internal servers can crash or be compromised, but with cloud hosting services available with the CRM, the data remains safe.

5. Hassles in simultaneous handling of multiple invoices

With small businesses juggling numerous projects, carefully studying the invoice norms for every client and sending partial or full invoices as per the requirement simply adds up to the efforts. In such a scenario, incorporating an intelligent CRM solution that is equipped with all the latest invoicing features and can automate the entire invoicing procedure, is considered a smart move in business strategy .

There is a lot more that a CRM solution has in store for businesses of all sizes and segments. The aspect that matters is the clarity with which businesses list down their requirements to the CRM providers. If you are looking for a solution that covers your every requirement, then Quiddity is an ideal solution for your business. The tool offers distinct functionalities such as contact import, timesheet reports, approval reports and more that enables businesses to closely track performance, formulate data driven strategies and climb the ladder of success. For a free trial of Quiddity, register here.