It is a known fact that every small business should have a CRM (Customer Relationship Management) software in place. Why? Customers are your main reason for doing business. You create a product/service for them, they buy from you, and you use the revenue to reinvest into your business to sell more. It’s a simple sales cycle. But it’s a cycle that needs to be taken care of and groomed.
The challenges arrise when you have to start managing your customers – even if only a handful. If they aren’t satisfied, they won’t buy. In addition, a good number of them will also spread negative reviews about you to other potential customers. Seeing as 80% of your future revenue will come from existing customers (Gartner Group), paying special attention to Customer Satisfaction and, thereby, retention is crucial to not only staying in business, but also growing. According to Bain and Co., a 5% increase in customer retention can increase a company’s profitability by an average of 75%. So what’s the conclusion? Winning customer loyalty could mean the difference in being successful or not!
So what should a small business, or anyone who is operating their own business solo or with a partner, look for in a CRM to help improve customer satisfaction?
We have dedicated the last few years to gathering information about CRM needs from freelancers, small business owners, and independent contractors (plus others) to get a deeper understanding as to why the traditional CRM on the market today isn’t working for them.
Here is a summary of the kind of CRM needed for Small Businesses today:
Easy usage and little-to-no learning curve is a must when integrating a CRM into your business. You are already busy and have no real time to spare. Make sure that whatever you chose as your new CRM will fit with the way you work. If it takes you hours to fill in every day, it’s not worth it….eventually you will give up and stop using it. Then it will no longer be a useful tool.
RELEVANT DATA POINTS
What information do you need? Is it important that you will be able to set up meetings directly in the system – or have it linked somehow? Are you a post-it note kinda person? Do you keep bullet points about your latest discussions? Do you need a reminder option to keep you from turning into the Absent-Minded Professor?
Aggregating all the most pertinent information you need to have on-hand when interacting with your customers will help you avoid missed opportunities when a new customer comes calling. Having everything on hand will help you look professional and organized and inspires a sense of trust in your customer about your ability to serve them.
It’s not enough that your new CRM is easy-to-use and has the ability to collect all the information you require in one location. If you store the database on your desktop at your office/home, and a customer calls you while you are out shopping for supplies, then you won’t have access to all your data that you put together. Which makes it completely useless. Even having it on a laptop is not always useful. Say you are in your car or walking down the street. It’s not always convenient to stop, turn on your laptop and find what you need.
To top everything off, running reports in real time is more important than you might think. Imagine having a visual representation of how many buyers are repeat customers, how many potential customers bought, and where these new customers came from (referral, media, etc.). Once you have this data in front of you, you can start breaking down what actions were successful and what convinced new customers to buy. If you see that most new customers are referral-based, then you can start offering existing customers a reward for bringing in their friends.
A CRM is a great way to aggregate your data. And using a CRM in small business, according to recent studies, can increase your sales by up to 29%, your sales productivity by up to 34%, and your forecast accuracy by 42%. But if you don’t use this data to see trends, then you will never reach this full growth potential.
So, let’s review…a CRM for small businesses and people who operate their own business should be simple to use while having enough options to save the various kinds of data you require. It needs to be available ALL the time and be able to provide reports that can directly show what is really happening in your customer interactions.
Look at it as a tool to keep you organized and in A-Game 100% of the time with your customers!
ONDiGO CRM has been developed directly from conversations and insights with business owners, to fulfill their basic needs and not disrupt their daily life – rather adapting to the way they work. If you are interested in trying a new CRM solutions, take a look and see if this could work for you.