Many SMEs are still reluctant to invest in CRM (customer relationship management) software, perhaps thinking that such tool are generally more suited to larger businesses.
Luckily, this is no longer true. While CRM may have started out as an enterprise-level tool, today there are solutions built specifically for SMEs and their unique requirements. And savvy businesses are putting them to work, and experiencing fantastic results. According to data from the US, on average a CRM generates a $5.60 return on every dollar spent. How’s that for ROI?
By dismissing CRM software altogether, businesses are overlooking a powerful solution to many common problems faced by SMEs, such as:
- An unreliable sales process with misplaced leads, forgotten tasks, and neglected opportunities;
- A disorganised and uninformed salesforce that has little access to customer data; and
- An incomplete picture of business performance with no visibility of various aspects of the business.
In my experience helping SMEs across Australia and New Zealand to implement and operate the right CRM software for their business, I’ve noticed some significant improvements to their overall sales process and the health of their pipeline.
In this blog, find out how you too can reap the benefits from the right CRM software.
Drive more sales with a more reliable and efficient sales process
As businesses grow, it becomes increasingly difficult to ensure all leads are captured and followed up promptly.
I often hear of businesses who are challenged by a lack of quote follow up, especially for low-value deals. Whether it’s your sales team running out of time, or simply forgetting to follow them up, it means consistently leaving money on the table and missing out on opportunities for more revenue.
The right CRM can help you instantly rejuvenate the top of your sales pipeline with clever, automated quote follow ups.
By creating a set of simple rules and triggers in your CRM, you can instantly generate, send, and follow up with quotes, making for a seamless experience for your customers, while also saving your team time and effort.
Clever automation helps you deliver a consistent and reliable sales process, and ensures that no deal is ever overlooked.
So how do you capitalise on the same benefits in your business?
Look for a software solution with effective and customisable workflow automation, to ensure all tasks, whether low or high value, are completed efficiently by your team.
Encourage more demand with more effective customer interactions
Customer-centricity is almost the buzzword for businesses these days. But for many small businesses, putting their customers in the centre of all their businesses processes seems easier said than done. For starters, most businesses don’t even have a central location for all their customer data, with everything stored all over the shop – on different systems, spreadsheets, or even in email inboxes.
An effective CRM helps businesses capture all their customer data in one location, and then puts this information at the fingertips of their sales, marketing, finance and customer service teams. With full access to current and historical data, your team is instantly armed with everything they need to know about your customer – what they buy, how often they purchase, and any past issues they’ve experienced. This allows your staff to have the most valuable and effective conversation with each customer, and increase the probability of each sale.
Some CRMs will even let you go a step further, letting you segment your customers and prospects into different groups to help you execute targeted marketing campaigns relevant for each segment to generate even more demand and fill up your pipeline.
To deliver the best experience for your customers, look for software that captures all your customer data in one easy-to-access location, and comes with sophisticated email marketing tools to drive demand.
Make better decisions for your business with valuable analysis and insights
Almost all businesses I have worked with have had some level of reporting and analysis in place. However, in some cases this just means a spreadsheet and some formulas. Very small businesses could probably get away with this very manual and error-prone method of business intelligence, but if you’re growing your business beyond that point – it’s just not going to cut the mustard.
As a business grows, more data needs to be collected from more departments, and more people become involved in the decision making process.
By using software to integrate all aspects of your business, such as accounting, inventory, sales, marketing, and operations – you can streamline the way you collect and analyse data. Sophisticated reporting tools can then generate detailed representations of the data to report on everything from your staff KPIs, sales pipeline, and even supplier performance. Armed with these insights, you’ll be better equipped to make more perceptive decisions for your business growth.
If you’re looking for a tool that will help you better visualise how the various aspects of business are performing, look for a CRM with sophisticated Business Intelligence tools to help you discover insights into your data that were hidden from you before.
I’ve worked with a number of businesses who have faced the same challenges outlined above, helping them transform their sales pipeline and generate more revenue by using innovative software solutions, such as HARMONiQ Business Tuning Software.
HARMONiQ is a unique platform that allows you to:
- Automate simple selling and sales support tasks, such as sending follow up emails for quotes, or setting reminders for follow up calls;
- Provide your staff with one source of truth for all customer information, and an easy way to manage their follow up tasks and provide personalised customer service every time;
- Seamlessly segment your contacts, create targeted marketing lists, and ensure your contacts get emails with messages targeted specifically to them, which can be customised to suit your branding;
- Integrate various aspects of your business by incorporating accounting, inventory management, sales orders and customer relationship management modules into one easy-to-use solution;
- Track key performance metrics, as well as pipeline analytics, allowing you to forecast your outcomes and make more informed decisions
These are just a few of the ways HARMONiQ can help you optimise your business processes to improve your sales pipeline.
As a truly customisable and scalable software, HARMONiQ ensures that the software will continue to grow alongside your business.
If you would like to discuss how you can start leveraging great technology to achieve significant efficiency improvements in your business, please call me on 02 9542 2000 or email me at email@example.com.
Drew Arthur is the Managing Director of Micronet Systems, and is focused on helping business leaders overcome inefficient sales, inventory, and customer relationship management practices by leveraging cutting edge technology. If you want to gain better control of the sales processes in your business, click here to see how HARMONiQ Business Tuning Software can make a difference to your business, or click here to get in touch.