The value of a CRM system

We all recognise that technology has changed the face of the world in so many different ways. In fact, how we interact with the world around us is largely influenced by technology and this will only evolve in the years ahead.

However, one aspect where technology has revolutionised processes is within businesses themselves. Not so long ago, many businesses simply kept paper trails for various aspects of their business - from accounting records to actually managing clients.

Thankfully, there are now so many options when it comes to digitising the key functions within a business to ensure no task is ever missed out and every business is maximising their growth options. The focus of today’s blog is to delve a little deeper into the world of Customer Relationship Management (CRM) systems and the value they can bring to every organisation.

What is a CRM system?
A CRM system helps a business manage their customer data and really improve interactions with current/potential clients. Now, up until the various CRM systems available online, many businesses simply kept a notepad or post-it notes reminding them to follow up with a lead or to book in a meeting. While this method worked, for the most part it was actually very inefficient for the business.

As humans, we are all susceptible to making mistakes or human error. A paper-based system for many businesses actually amplified this as often processes weren’t followed and information was misplaced.

Therefore, with the creation of a number of online-based CRM systems, many businesses have actually moved to storing and processing their client data within a dedicated CRM system.

What are some of the benefits?
There are so many advantages of utilising a CRM system within any business, especially if you are looking to scale relatively quickly. For example, the first key benefit of a CRM system is the accuracy of the data that you hold. Things like contact information, diary management etc can all be updated in real time to ensure your business is operating efficiently.

Secondly, you can track potential clients all the way through your sales process. For instance, every interaction - whether it is via telephone, email or face to face, can be logged to see how a lead is working their way down your sales funnel. It also ensures that you maximise every piece of communication and personalise your selling approach.

Collaboration amongst your internal team is another plus point for investing in a cloud based CRM system. Many organisations have multiple members of staff who need to access customer or potential customer information. As a result, a CRM makes it effortless for every member of your team to get a quick snapshot of each customer journey so far.

Furthermore, you can use a CRM system to actually measure your sales pipeline. Now, we all know that your sales activity is the heartbeat of your business, especially when it comes to a Digital Agency that offers so many solutions to local businesses.

A CRM system can help you attach a monetary value to every lead, based on where they actually are in your sales process. For example, a business that has just enquired with your Digital Agency will have a lower value assigned when compared to a prospective client that has already been through a meeting with your team. Therefore, you can accurately start to aggregate all leads within your sales funnel to assess your marketing and sales performance.

Finally, the last benefit we wanted to highlight in this week's blog focuses on creating reports and analysing the data that you have started to collect. The whole idea of using a CRM system centres around data. Well, now you can accurately use this data to shape business decisions. For example, you can run reports to see things like the number of leads you secured in a given time period, how many meetings were booked as well as your overall conversion rate. This will help you benchmark your performance and highlight areas for improvement.

Which CRM system is best for my business?
This a tough question to answer as every business has unique requirements as well as differing budgets. However, there are lots of cloud based CRM systems available that are suitable for all types of organisations, both large and small.

In our opinion, it is important to test a few different providers before you settle on your preferred choice as most companies offer a 14 day free trial. As part of our package when a new Partner joins our Network and launches a Digital Agency with us, we configure their CRM in anticipation of their launch. Moreover, on day two of training we also show each Partner how to make the most of their CRM system so they can scale their Digital Agency from day one.

Summary
As we have seen throughout this blog, there are many advantages of using a CRM system within any business as it plays a pivotal role for long term success. Moving to a digital system within a business can ensure that performance is easily trackable across all areas and every potential client enquiry is maximised.

To find out more about how we help each of our Partners launch their Digital Agency and have a fully functional CRM system at the heart of their business, contact our team today.

Until next time, take care.