Should I invest in a CRM ?
The short and simple answer is yes. Any business irrespective of its size requires a CRM to organise and maintain customer relationships. Many businesses struggle due to a lack of systems or multiple disjointed systems. Every business that has a customer interaction requires a unified CRM. So let’s look at the most common reasons to invest in a CRM :
Sales management
A sales cycle involves engaging with your prospects from the initial awareness stage and ensuring that this prospect is converted into a customer. This is ensured with omnichannel presence for e.g. – With CircleOne you can ensure you remain engaged with a prospect that reaches out to your business from a website or an email or a phone call or social media.
Customer support
Every customer needs after sales support. One of the learnings from the pandemic is to be available across channels. Being present on digital channels is the norm of the day. Every customer has his/her own preference of channel to reach out to a business and the customer expects a consistent experience. This is made possible with a unified solution like CircleOne where you get context to your conversation.
Optimise process flows
With a CRM in place you can pre define your business process in the system. With minimal manual intervention you can ensure end to end tracking of your sales or support process. With solutions like CircleOne you can configure and manage multiple workflows.
Flexibility
Today’s businesses are dynamic. There are constant changes required in business processes. You need your technology solution to be as dynamic. Whether its flexibility in deployment or flexibility to make changes in the application businesses require them to be quick and seamless. With a configurable solution like CircleOne the power is in the hands of the business to make changes on the fly.
Improve Business decisions
Good business decisions are based on data. When you have a well organised process and a system that tracks your customer journey across channels it provides you with sufficient information to make sound business decisions. The analytics and reporting in solutions like CircleOne gives relevant insights to the business leaders for making informed decisions.
Conclusion
As per a study by Nucleus Research every dollar spent on implementing a CRM gives a stellar return of $8.71. The investment is definitely worthwhile when the customer gets an enhanced customer experience & you have a seamless communication between your otherwise siloed departments. The value that a business derives across its functions should be the critical factor in determining your investment in a CRM solution.