Bigger corporations may have been utilizing CRM for decades, but it’s only within the last decade that small and medium-sized businesses have gained access to robust customer relationship management tools as well.
However, even with multiple SMB-friendly solutions available on the market today, we still regularly find that many business owners aren’t 100% sure if CRM is the right choice for their organization.
As we all do nowadays, business owners often take to the internet to search for solutions and tools that best suit the needs of their individual business. Unfortunately, when it comes to information about CRM, we find the same not-so-great advice being shared time and time again across the web.
Today we’re going to set the record straight and address a few of the worst pieces of CRM advice we’ve ever heard.
Bad CRM Advice #1: Your Business Doesn’t Need CRM
Nothing could be farther from the truth!
This poor piece of advice is probably the most commonly held misconception. There’s a quick, reliable way to tell if your business could benefit from CRM.
Just ask yourself the following two questions:
1. Does your business have customers?
2. Do you want to cultivate strong, long-term relationships with those customers?
If you answered yes to both, then you need CRM. It’s really that simple. It doesn’t matter how big or small your organization is, whether your sales cycle is short or long, if you’ve been in business for one year or twenty years—your business needs CRM.
We all know that customers are the lifeblood of our businesses. This is true for both B2B and B2C companies, regardless of the size of their customer base. The same goes for startups and established businesses as well.
A properly implemented and integrated CRM helps your company provide the level of service that keeps customer relationships going strong for years to come.
In fact, CRM adoption has been proven to improve customer retention rates significantly, resulting in increased profits and decreased marketing costs. Remember, it’s always less expensive to market to your existing customer base, rather than constantly attempting to attract new customers.
Now for the data.
We can’t forget about the priceless data. Even the smallest organizations can glean valuable information about their customers, leads, vendors, suppliers, etc. by having all of their data compiled in one place.
Sure, you could use some sort of haphazard Google Sheets setup or (gasp!) a paper filing system, but with CRM it’s easy to quickly pull all of that data together for tracking and reporting purposes. Then, armed with numbers and historical data, you have the ability to make informed, data-driven decisions regarding the most effective ways to market, manage, and grow your business.
Put simply, if you have a business and you want to see it flourish, CRM is for you.
Bad CRM Advice #2: You Can Piece Together Free Tools To Do The Same Thing
As we mentioned previously, in the past, CRM was largely utilized by massive corporate businesses, with few solutions available that were suitable for SMBs. Now, all-in-one CRM systems are readily available for every size business and budget.
But we still encounter business owners hesitant to adopt a CRM system specifically due to concerns related to cost.
Using a free-of-charge system comprised of spreadsheets, basic task assigning tools, and calendar reminders may get the job done, but let’s be honest, the end result is not exactly a smooth-flowing process.
You end up relying on employees to remember to use all the different systems and update each tool every time they communicate with a customer, an issue that is eliminated with the built-in automation and integration features that CRM has to offer.
A quality CRM system is a tool for increased productivity and efficiency, especially when you consider the alternative.
When properly utilized, it’s been shown that CRM provides an average return of $8.71 for every $1 spent. In short, a CRM system more than pays for itself in the end.
So instead of trying to reinvent the wheel and create your own solution from a mix of free tools in an effort to save a buck, do yourself (and your team) a favor and invest in the future of your business.
Remember, just because you can do something doesn’t mean that you should. Your business deserves better than a piecemeal solution.
Bad CRM Advice #3: You Don’t Need a CRM Yet
Maybe you think your business is too small for CRM right now. Maybe you are working with a smaller budget, or your sales team consists of just a few people at this time.
Whatever the reason, forget about it.
Don’t make the mistake of bumping CRM implementation to the bottom of your to-do list for sometime down the road after you’ve grown a bit more.
Business growth happens easier and faster when you have a system in place that can not only grow with you but that also helps facilitate the growth for you.
For example, better customer service, automated drip campaigns based on lead behavior and interaction, and increased customer retention will all help your business grow stronger and more swiftly, thanks to CRM.
Even if you are a startup with no customers at all, a CRM is still valuable to your business.
You’ll be able to track everything from the very beginning and ensure that nothing slips between the cracks when those initial customers come on board. Even before you have a paying customer base, CRM is an invaluable tool for managing and facilitating the lead nurturing process necessary to sign on those first few precious customers.
By now it should be clear that every company with the goal and ambition to grow can benefit from CRM, regardless of size, industry, location, or length of time in business. Investing in a CRM system is the best thing you can do to set your business up for success down the road.
Forward-thinking business owners understand the value in proactively implementing systems and processes.
From marketing and sales functionality to customer support, payment portals and reporting & analytics, all-in-one CRM solutions give you the tools you need to efficiently manage and grow your business.