If you're a business owner or marketer, you've probably heard of CRM (customer relationship management) systems. But did you know that the scope of a CRM system goes beyond just customers and relationships?
At its most basic level, a CRM system is a way to organise data, contacts, and companies in one place. But it can also lead to operational efficiencies, prioritise time and resources, and even handle the entire customer lifecycle.
The name "Customer Relationship Manager" might be too simplistic or limiting of a title for the software as it covers a wide range of possibilities, not only customer focussed tasks.
Did you know Wellmeadow has a podcast? The SME Growth Podcast covers a wide range of topics, focussed on helping SMEs grow. As a UK Hubspot partner, we have a great episode on the purpose of a CRM, have a listen now.
Also available to listen on Apple Podcast, and click here for all other available platforms.
INCREASED EFFICIENCY AND PRODUCTIVITY
Automation is one of the most powerful benefits of a CRM system, especially for a website that needs to work as a salesman 24/7. A CRM can help keep the data clean, send out information to people who need it, and even send out information to the owners about lapsed customers. This automation frees up your sales and marketing teams to focus on more important tasks, such as closing deals and nurturing customer relationships.
IMPROVED DATA MANAGEMENT
A CRM system provides businesses with a centralised location for all customer data, including contact information, sales history, and interactions with your company. With an understanding of how customers interact with your website, you can use this information to score leads and chase the leads that are most likely to become customers. This data can be analysed to gain valuable insights into your customers' behaviour and preferences, enabling you to tailor your sales and marketing efforts to their needs.
BETTER CUSTOMER RELATIONSHIPS
According to Epsilon Marketing, 80% of consumers are more likely to purchase when provided with personalised content. A CRM system can help you identify and track customer needs, preferences, and pain points, allowing you to deliver a better customer experience via segmentation. A 360-degree view of your customers lets you personalise your interactions and offer more value. Use your CRM to ensure you are getting all the potential sales and ensure your time is spent on the potential sales most likely to convert.
INCREASED REVENUE
A CRM system can help you close more deals and increase your revenue by improving your sales and marketing processes. You can manage your entire sales pipeline, from lead generation to deal closing and track the ROI of your marketing campaigns. Tracking the buyers journey enables you to quickly identify who/what is working to apply that to optimise other areas in the customer journey and eventually boost sales by improving customer pain points.
DATA QUALITY
A CRM is only as powerful as the data in it, so regular data cleansing and updating is required to ensure accuracy. If the data is correct or complete, it leads to accurate reporting and better decision-making. Similarly, for data, businesses need to ensure that their CRM systems comply with data protection regulations and that customer data is kept secure.
CRM CULTURE
Some people may already have a pre-established idea about a CRM; in some businesses, they can be seen as more of a chore than a benefit as they can take time and effort to be used to their most efficient. Developing a culture where employees understand the benefits of a CRM can take time, and focus on the advantages like cross-team collaboration that will benefit their day-to-day working routine.
COMPLEXITY
Whilst CRMs are hugely beneficial, they can also be time-consuming and complex. When choosing the correct CRM for your business, consider if the user experience suit your employees? It also needs to be investigated how the CRM will work alongside other systems such as email clients, marketing automation tools, and accounting systems.
COST
Consider what is vital for a CRM for your business and select your platform of choice based on requirements and cost. Depending on the chosen CRM, it could be expensive. However, there are CRMs available for every price point. Select a CRM system with the end in mind, not just based on what is cheap or quick. Selecting the wrong one could be more costly in the long term in terms of both time and money.
Whilst there are plenty of great CRM options out there, here at Wellmeadow, we are a UK HubSpot gold partner. If you follow our podcast or have read our case studies, you'll know HubSpot plays a vital part in our marketing campaigns and the day-to-day running of our business.
So why should you consider HubSpot for your CRM? HubSpot is an all-in-one marketing, sales, and service platform with a user-friendly and customisable CRM system. The platform offers free and paid plans, powerful automation capabilities, including lead scoring, email marketing campaigns, and sales pipeline management (depending on the package). HubSpot's CRM is designed to help businesses manage customer interactions more effectively, improve data management, and increase revenue.
In conclusion, a CRM system is critical for businesses looking to improve their efficiency, streamline their processes, and build stronger customer relationships. While there are other great systems, HubSpot's CRM is a powerful platform that provides businesses with the tools to manage their sales and marketing efforts effectively. If you'd like to learn more about HubSpot, why not get in touch with us?
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