Customer Relationship Management (CRM) is a strategic tool which can help your business manage any correspondence and interactions made with a range of stakeholders within and outside your business. This can include a comprehensive view of interactions your company has with your customers, prospects and suppliers. Having an effective CRM system in place can facilitate an enhanced experience for your stakeholders. This is particularly important as a small business, as maintaining long-standing relationships with your stakeholders is crucial when securing repeat business.
Many businesses, particularly SMEs, start their business with a physical list or book of contacts with their names and phone numbers, and would have typically stored this information and data in a document or a spreadsheet. If these customers or prospects were contacted, any correspondence that you'd had with them might have been written down or even typed up on separate document. This process is not only inefficient and frustrating for both parties, but it is ultimately not the most profitable way to run a business.
In order to remain competitive, SMEs need to think about how they can run their business more efficiently and effectively. Implementing a CRM system allows for any correspondence to be stored in one centralised database, and should be accessible to your entire team. Most CRM systems will allow you to choose what access you'd like to give each employee within the system, so you can ensure they're able to get to information that is relevant to their role or department.
A CRM should give you business control through the full sales cycle - from Marketing, Sales Lead Management, Quoting, Ordering, After Sales Service, and Business Intelligence. We've outlined some examples below of how our solution, Prospect 365, can benefit key roles within all organisations:
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