For Small Businesses, time is money, perhaps more so than for larger organizations. Most Small Businesses don’t have the capital and resources to let financial processes and customer interactions lag, nor can they afford to hire analysts or spend money on large scale marketing campaigns. Every transaction means more to a Small Business, and CRM allows them to make the most out of each and every customer and decision.
CRM allows users to have current information about the accounting status of every customer, about their inventory, cash flow and enables them to see definitive patters in sales and marketing efforts.
Because of limited staffing, CRM is especially beneficial to Small Businesses in that it decreases employee time saved in itself provides an almost immediate return on investment (ROI) for the company.
For sales and marketing purposes, CRM allows users to monitor their customer behaviors and see what shoppers are buying, where, and why. Promotions and advertisements can be coded and tracked, simplifying processes and allowing staff to focus their efforts on the most productive campaigns, increasing both the number of customers and revenue. The amount of time it takes to close a deal is dramatically reduced, which is especially important now that millions of customers are shopping online for everything from car insurance to antique furniture. Having information at employee’s fingertips allows customer service representatives to provide fast and accurate service, which in turn helps the company retain existing customers.
CRM solutions provide up-to-the-minute big-picture information about customers, vendors, and finances, which is more than most Small Businesses could ever hope to achieve with traditional spreadsheets and databases. Business management decisions become data-driven and focused, and for Small Businesses with limited capital and resources, this is key to success. Not only that, but CRM solutions can in effect “level the playing field” against larger competitors with more resources and high-end software and business management technologies, Giving Small Businesses a competitive edge.