Reasons Why CRM Is Important for Every Business in 2021

By Marie Nieves

Customer Relationship Management (CRM) software is considered to be the heart of every growing business. It is currently the biggest software market in the world and, according to some estimations, by 2025, it will reach more than $80 billion in revenues. There is a growing number of businesses that are coming to terms with the need to use CRM to collect client data to get a clear insight into customer behavior and provide a personalized experience.

Decision-makers are finally realizing that customer relationships cannot remain the same they were before, considering all the changes in technology, economy, and purchase habits. In 2021, CRM is more important than ever before, and we don’t see a chance for that changing any time soon. 

Keeping a reliable customer base

Some businesses still cling to the past and store their customer data in spreadsheets. By using this outdated method, they are only making their lives more complicated. Spreadsheets can fall into the wrong hands or get lost. The data can be compromised. CRM software is not the future. It is the present. And if you are at all serious about keeping a good overview of your customers and using it for self-improvement, progress, and financial gain, you need to get on board with the changes right now.

Registering your leads and contacts

CRM system allows you to organize your leads and contacts into categories such as prospects, customers, suppliers, influencers, partners, and potential partners. You can implement various strategies that will make your data efficient and your efforts more productive. This also enables following customer interactions. You can also share the contact groups using the Share Google Contacts solution for secure and efficient communication within the company. 

Improved team productivity

The ones using the CRM software the most are the employees, and they have been a tough nut to crack since the introduction of this software. However, we have seen a rise in use since CRM mobile came into the picture. Mobile CRM not only increases the use of software but also workforce productivity. According to Forester, there has been a 73% improvement in business process efficiency and a 77% boost in productivity in companies using CRM mobile apps. Also, every CRM software, regardless of the device used, will shorten the time needed for manually inputting the data and searching through chaotic spreadsheets and, therefore, leave enough time for other crucial activities. 

Personalizing your marketing strategy

Customer experience has become one of the most important marketing priorities. This year we have seen a large chunk of businesses’ marketing budget is spent on email marketing. In fact, in the US alone, it is estimated that companies will spend approximately $350 million for email outreach. CRM software can upgrade your communication with the customers by accumulating accurate data and giving you a clear insight into client’s habits and previous interactions. 

Increased sales and more leads

Accurate and accumulated data about customers achieved through CRM software can be used to target the customer with an appropriate offer and, therefore, increase the chance of making a sale. Additionally, the collected data can be used to send loyalty discounts and personalized gifts, which can help with customer retention. Through web forms, you gain the possibility to offer free products if the visitors leave their email addresses. This way, you will get a prospective customer. The software can also help you analyze customer satisfaction. You can ask satisfied clients to refer your business to their family, friends, or acquaintances. 

Integration with other tools

CRM can be integrated with other marketing tools to create a coherent marketing strategy aimed at prospective customers. As mentioned, you can integrate it with email and tools and make the entire process more automatized. Also, you will be able to see the precise return on investment status for this strategy. The customer interaction with your brand on social media can also be a part of the integrated CRM strategy and help you reach new customers and foster your relationship with the existing ones. CRM software with messaging service is ideal for customer loyalty texts, product tracking alerts, and free incentives. Finally, it can be integrated with telephony to make outbound calls faster.

Achieving employee accountability

CRM allows the distribution of roles and responsibilities among the employees and then following the direction in which they are going with their tasks. If someone is falling behind or making mistakes, the problem can be identified quickly and solved before it harms your business. This should not be used for playing the blame game, though. On the contrary, identifying problematic tasks or employees’ struggles needs to be used for growth. Employees can work through their weaknesses better if they know what they are.

We need to get used to the fact that the customers today are more proactive than ever. They will research the product they want to buy on various platforms before arriving at a specific website. They have a wide array of choices laid out in front of them.  The CRM software is necessary to attract and retain them with efficient and personalized service.

In conclusion

Every day, your business generates information about customers: orders, inquiries, letters, requests. If this information is not processed, over time it will become useless for making important decisions.

To solve these problems, in addition to implementing a CRM, integrate it with your ERP system. This will help you get a complete picture of your customers, increase efficiency in data processing, and improve sales forecasting.

About the Author

Marie Nieves has been a regular writer for High Style Life since 2015 and had some guest posts on other blogs in the meantime. Right now, she is taking a break from writing about lifestyle themes, and writing more about business (supported with a degree in business management). Marie is passionate about economy, HR, personal and professional development.

The views expressed in this article are those of the authors and do not necessarily reflect the views or policies of The World Financial Review.