Few things are more important for a business than to maintain relationships with its customers. No matter whether you cater to businesses or consumers, it’s important to stay in touch with each of your existing and potential customers in an effective way. CRM software makes this task much easier. But with the market flooded with hundreds of CRM tools that cater to different needs and have unique strengths, it’s difficult to find the right match. This article will help you understand what a CRM tool can do for your business and explore top products to start your solution evaluation with.
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Before we delve into our list of top five CRM tools, let’s cover some CRM basics.
What is CRM?
Simply put, CRM is a technology that helps manage a company’s interactions with customers and prospects, with an aim to improve business relationships. CRM tools help in contact management, sales management, enhancing productivity, improving profitability and more.
With the right solution, you can focus on relationships with customers, partners, service users, suppliers and colleagues throughout their lifecycle. At the same time, it helps you identify and nurture new leads, convert those into customers, and provide support and services.
What Challenges Do Businesses Face Without a CRM Tool?
According to industry experts, the major challenges that businesses face while not using a CRM, include:
- Difficulty following the pace of lead flow
- Unorganized customer data
- Lack of planning and unclear growth path
- Time-consuming processes
- Poor customer service
- Inability to manage long-term accounts
If your business is facing any of these issues, it’s high time to invest in a CRM tool that will impact the bottom line of your business effectively and set you on a growth trajectory.
The more attentive and personalized engagement you can ensure, the higher your chances of capturing new leads. A report published by PwC claims 63% of Americans share more personal information with companies that offer great experiences, while 80% of them highly value speed, friendly service, convenience and knowledgeable help.
It’s obvious – and should come as no surprise – that positive experiences are one of the key deciding factors while investing in a product or service. CRM tools are designed to help you stay in touch with your customers in every possible way, from managing leads and creating marketing campaigns to synchronizing customer communications and structuring pipelines.
Here are a couple specific ways a CRM tool helps achieve this:
- Automated Tasks: A CRM tool helps automate mundane and repetitive everyday tasks like scheduling emails and creating reports, freeing up employees’ time so that they can focus on engaging with leads, resolving issues and closing deals
- Improved Communication: With access to the same customer data, sales and support reps can offer the same high level of service to everyone. This ensures customers don’t have to start fresh and explain their unique issues and preferences all over again in case they are not communicating with the same agent each time.
- Enhanced Lead Management: You can identify new leads quickly and easily, and categorize them based on multiple factors such as age, location or interest. Sales reps can prioritize leads based on closing likelihood, identify leads that need more nurturing and work towards improving their quality.
- Increased Referrals: When you understand your customers better, upselling and cross-selling opportunities become clear and the chances of winning new business increase. Better services lead to happy customers who not only spend more but also refer your company to others.
- Improved Analytical Reporting: CRM tools eliminate the chances of miscalculated data and miscommunications. With all information stored in one place, it becomes easier to analyze data and generate automatic reports. These help you make informed and effective decisions to increase credibility and long-term profitability.
Compare Top CRM Tools Leaders