7 Reasons Why CRM is the Need of the Hour for Startups
The article gives you a deeper insight as to why startups should start including CRM in their business proceedings and how their organization will profit from the same.
Video Source: Youtube – Harry Viral
Startups have been on the frontline of innovation for many decades. They are of paramount importance for economic growth. We live in a knowledge reliant society where innovation plays an important role in driving an economy. Startups are the mediums through which entrepreneurs turn their long last aspirations into reality. It is a well-known fact that every big idea started out small!
As much the work of such entrepreneurs is praiseworthy, there are some out there who do not know how to scale up using CRM. They live under the false notion that customer relationship management can only help large organizations. Whereas they will prove to be a waste of money & efforts for startups. But the truth of the matter is that they are wrong!
The aforementioned misconception started doing rounds when CRM was still a novel concept. Around that time CRM systems were unreasonably pricy and really difficult to handle. It required a team of professionals to be installed and used. Because of their complexity and poor integration majority of the startup employees never actually used them.
The scene is completely different in today’s day and age; modern era CRM solutions have advanced into polished and easily usable systems. These systems can be customized in accordance with a startup’s requirements and can be catapulted to accelerate its growth.
If you are an aspiring entrepreneur who is in a dilemma as to why and when do you need a CRM, here are 10 reasons why CRM is the need of the hour for your startup!
Effective customer management yields greater profits:
As an entrepreneur when you start a company your primary aim should be sustainable profitability. There are just 24 hours in a day and you need to invest your time intelligently. Once you have a good customer base in place you need to maintain the data directory of clients, contacts, investors, and prospective customers. Without proper CRM to help you, you will definitely lose track.
Your customer relationship management system will help you in keeping a tab on all of your contacts. It will empower you to customize your services according to their requirements. With CRM backing you, the marketing, sales and other processes will get automated. In the end, when your client prospers, you prosper too!
You will be successful in inculcating the latest trends:
You need to seize an opportunity at the right time to make the maximum out of it! But many times startup owners are so tied up in handling their responsibilities that they tend to ignore timely updating of their products and services. With such a huge amount of data at hand, it might get difficult to understand what is important and what is not. Since customer behaviours keep changing periodically, you need to be in the trend to grow.
This is where you can scale up using CRM. The majority of the CRM systems come with intrinsic artificial intelligence (AI) and data analytic tools that have the ability to forecast trends even before they become a major success in the market. Utilizing these you will be able to direct your efforts towards recognizing the correct leads which have the potential to turn into customers.
You can say goodbye to the hassle of reporting:
A recent study suggests that reporting is a task that unnecessarily holds up 23 percent of your entire productivity span. Although reporting does not generate any kind of revenue; it is still crucial for any business especially a startup.
With a customer relationship management system, you can literally save yourself a whole lot of time that can be utilized into other important things. All those extra hours can be invested in innovating, communicating and gaining new clients.
The data is easily accessible anywhere, at any time:
As an entrepreneur you never know when an opportunity might come knocking the door, being ready always is key to success! When you integrate entire data into a customer relationship management system, it becomes centralized. This simply means that it will be available from any corner of the globe at any given time to any authorized personnel. Having such essential data handy will help you in having an upward growth trajectory as you will never miss a good opportunity.
Your brand reputation will become pristine with each passing day!
With a fully-functional customer relationship management system in place, your brand image will soar! Punctuality and error-free services are characteristics that help any organization attain a good name in their respective industry. With CRM you will be 100 % successful in delivering all of the client’s data at the right time and in accordance with the requirements. Your company’s status quo will rise like anything thanks to CRM.
It will help in boosting your online presence:
With a customer relationship management system, you can be sure that your startup is going to have a solid social media presence. In current times, it is very important to market your products/services on the internet to establish a loyal customer base. You will be able to scale up using CRM in this arena as well; a steady CRM system attracts a larger customer base. In addition, it also teaches you how to maintain a steady & cordial relationship with clients and turn them into your brand’s loyal prophets!
It will help you in saving costs:
In earlier times, CRM systems overcharged companies for tools that were seldom touched by employees. But with changing times, this has changed too. Current customer relationship management applications give you the option of paying on a monthly basis. You can use it according to your requirement and incur charges only for the days that you have used the system. This, in turn, will help you in saving up a whole lot of costs!
The bottom line ultimately is that you don’t need to be a huge multi-million-dollar firm to benefit from CRM. So, the next time you think why do I need CRM just be reminded of all the above-mentioned reasons and we are sure you will change your mind. Choose CRM and help your startup attain new heights!