Customer Relationship Management (CRM) systems are gradually becoming an indispensable tool for enterprises of all sizes. Customer acquisition and retention are critical to the success of any company, as no business exists without its customer base. This software gathers customer interactions into one centralized data silo, improving customer experience and satisfaction.
Marketing industry metrics show us that the success rate of selling to an existing customer is 60-70%, compared to only 5-20% for a new customer. You may need to find a balance between customer retention and selling to more customers. The best sales CRM for small business can help you achieve this elusive balance.
Here are five benefits of deploying custom CRM solutions for your business.
1. Improved Customer Retention
A common error made by most business executives is the assumption that customer retention flows naturally if you have a great product or service. As a result, they invest in new acquisitions and fail to tend to their existing clients effectively. The best sales CRM for small businesses can help you honor the promises you’ve made to your current customers. You can create reminders for appointments, follow-ups, and prompts to reach out to clients you haven’t communicated with in a while. According to Bain & Company, keeping an existing customer is six to seven times cheaper than getting a new one.
2. Better Customer Knowledge
Customizing small business CRMs can help create a centralized data source for your company. You can gather personalized information about your customers, including full names, addresses, email accounts, and much more. Additionally, you can learn more about their position within their firm, sales completed, live chat replies, invoices, contracts, or customer service requests. You can utilize this information to personalize your communications with your contacts and strengthen your relationships.
3. Increased Sales
The best sales CRM for small businesses can help you streamline your sales funnel, allowing you to tailor your offers to meet the specific needs of each customer. You can track buying habits from a centralized place, allowing you to anticipate your target audience’s response. Customer history including any complaints lodged against the company can help you tweak the sales process to net in more customers.
4. Streamlined Communication Channels
Another advantage of opting for an ACT alternative is that you can view your customer’s journey holistically. You can create customized interactions with ready-to-use templates for letters, quotes, newsletters, customer service emails, and much more. Quick replies are a sign of professionalism that can help improve your lead nurturing and customer retention.
5. Improved Customer Segmentation
It’s one thing to have plenty of scrambled data, but it’s another to know what that data means and how to utilize it. The best sales CRM for small business can help you compartmentalize the data into your preferred criteria. You can sort your contacts depending on location, gender, buyer stage, and other factors, creating target audiences. Your sales and marketing departments can utilize the information to run well-orchestrated targeted campaigns.
A CRM system is critical to the running of a modern business. To implement the best sales CRM for small businesses, reach out to Wired Contact. Our dynamic, easily customizable CRM can help save your bottom line while streamlining your customer relationship in the process.