All startups begin with an idea. With some luck and a lot of skill, they can benefit a lot of people; not just the people running the business but also all the people that it serves. Every startup wants to grow into a large business, but growth comes with a lot of problems. To expand your business successfully, you would need to think about a lot of factors, such as your approach to sales management, details about your product, or even your employees. This is where CRM software comes in.
How CRM Can Aid Your Growth
Growth always means change, and change cannot happen without a catalyst setting things into motion. However, you cannot start things and make sure that they end well if you do not have the right information and the right way of looking at this information. CRM can show you your data, including sales reports and customer information, in a way that is easy to understand. Armed with all this information, you can now confidently make the most effective actions to move your business forward; at its core, this is how CRM can aid the growth of your company. However, CRM can facilitate your growth in many other ways, like the following:
1. Better Decision Making
CRM lifts the veil from the details connecting you and your customers. With CRM software, you can handle prospects using sales automation systems in Singapore and keep track of their spending habits, which leads to better decision making on what marketing method to use, what products to release and what steps to take next. CRM gives you access to crucial, detailed and comprehensive data, like sales reports and inventory, all of which can aid your business’ growth. Additionally, not having to compile all this data yourself frees you up from the minute details of your business, giving you more time to focus on big-picture improvements.
2. Real-Time Data
Data is the driving force behind effective sales management. Unsurprisingly, real-time data can do wonders for increasing your sales; some statistics show that real-time data produces up to 20% more sales opportunities. Especially for B2B businesses, real-time data can aid your client in knowing how your product can meet their needs. Even B2C businesses can use real-time data to show their customers how their products are better than others in the market, aided by real-time numbers and statistics.
You can even access your data much faster with a cloud CRM. As a CRM with cloud capabilities, cloud CRM lets you access your data from wherever you are, whether in Singapore or abroad. This is especially important for emergency issues, as going to the office to access your data can cost valuable time and money.
3. Personalized Content
One of the best marketing strategies that have appeared in modern-day marketing is personalized content, as it saves time for both businesses and consumers. This means that the content that you’re showing your consumers is relevant to them, raising the probability of engagement and future sales. CRM software can track the spending habits of a consumer, and target your market while showing them content that is filtered to their needs.
Why You Should Use CRM Now
CRM software can be daunting towards startups, due to the high cost that it requires, in terms of money and effort. However, using a CRM early on in the game can save you a lot of time and effort, and the benefits far outweigh the cost.
Many startups in Singapore make do with pen and paper CRM systems, or by creating their own spreadsheets. While this may work for some startups, manually tracking data can only do so much. Despite this, some startups still stick to a traditional CRM system because investing in software doesn’t seem like a sound investment to them. However, with all the time and effort it takes to keep track of and maintain these types of systems, it’s not hard to understand why so many businesses are making the switch. With CRM software, you can do away with inaccurate and erroneous data, long hours of poring over so much information, and a lot of frustration over finding the information you need. Rather, you can easily see your information at a glance from wherever and however you want.
The earlier your team understands and gets comfortable with using your CRM system, the better. This means that they are given the opportunity to learn about the software earlier, which means that they have more experience in using the software. Familiarity leads to confidence, which can mean faster results and more accurate data. It can also foster a culture in your company, wherein your CRM is regarded as an important and integral tool so that all individuals feel encouraged to use it.
3. High Cost of Migration
The high cost of powerful CRM software can be daunting for startups. However, starting off with a cheaper and more basic CRM software and eventually switching to something more complex and powerful can be even more expensive. While the thought of starting with something basic can make you feel like you’re saving up on money, you’ll also need to factor in your expenses not just in money but also in terms of mental energy, as well as time.
For one thing, you will have to migrate all your data to your entirely new system, all while making sure that your data is accurate and without redundancy. You will also have to retrain all your employees with the new system, a task that is harder than the first time, as they will have to unlearn habits formed with the previous system. Above all, chances are a switch in systems will mean interference with your business. There are a lot of companies that temporarily pause operations to transfer all data to their new system, and you wouldn’t want to miss out on an entire day’s worth of sales due to a system transfer.