By Lauren Hines on Mon 13 June 2016 in CRM
The CRM industry has seen staggering growth in recent years...
Last year it was recorded that the overall CRM usage in businesses increased from 56% to 74%.
Firms have clearly seen the value of CRM Systems and therefore will continue to increase investments into this type of solution. Fueled not only by improving results, but also a need to keep up with their competitors and retain clients. This is all expected to turn the CRM sector from a $24 billion industry in 2014 to a $37 billion one by just 2017.
Despite all these positive predictions, some businesses are still shying away from the idea. Why you might ask? Well, here are 3 of the most common reasons:
‘It’s too expensive, something we can’t afford at the moment’. This is a very common answer for why firms haven’t implemented a CRM system yet. And yes I can understand why this might be a factor. But in reality, by not using a CRM system, it could be argued that they are doing more damage and are in fact costing their business more money as they’re missing out on all the cost-saving benefits of a CRM.
Happy with my system it works just fine
Some businesses are just happy with what they have implemented at the moment so they feel that there is no need to change what they’re doing. They are satisfied with having multiple spreadsheets with their customer’s information listed, which they are just sharing with each other across departments.
Really? Do you really think that is the best way to effectively collaborate your customer information?
A CRM can ensure that collaboration is there so that everyone has the full picture of a customer at their disposal. This is key, and will make the difference between delighting and disappointing your customers. Customers expect that speaking to one person in the company is the same as speaking to everyone. Therefore, every employee who picks up the phone should know what a customer has purchased, what promises have been made, what communications have occurred and what goals they want to achieve. Can spreadsheets really cater for all this? This is what a CRM is made for, bringing all that information into one single view.
My business is too small
A common consensus is that CRM systems are only truly valuable for large corporations so that they could provide the same customer service expected from smaller firms. However, with the CRM market expected to hit $37 billion worldwide, with more evidence suggesting it’s vital for company success, CRM is becoming more of a requirement rather than a luxury, making this excuse unjustifiable.
It’s important to realise that there is a reason why the CRM market is growing so rapidly. Yes, in the short-term there may be reasons why you haven’t implemented one yet, but these excuses might be what’s holding your business back.
If you agree and think that it is time to take that step forward, why not try Prospect 365 for free now?