Are you looking to buy customer relationship management (CRM) software but not sure whether it’ll be a worthy investment for your small business?

First, you’re not alone. About 44 percent of small businesses in the United States are currently using spreadsheets and other manual methods to collect and analyze customer data!

In the digital age, your business is leaving money on the table if it’s not using CRM. It’s time to jump ship and join the majority.

Keep reading as we flesh out 4 benefits of CRM a small business owner like you might not know about.

1. Gain a Deeper Understanding of Your Customers

What do you know about your customers?

If you’re not using CRM, you probably know the number of customers you have and the amount of money to spend on your business in a month or year. That’s just about everything you know.

On the other hand, CRM gives you a 360-degree view of all your customers. You’ll know everything from how they found your business, their names, gender, location and contact details, favorite products/services, payment methods and much more.

With this kind of information, it’s far easier to create a buyer persona that’s an accurate representation of your ideal customer.

2. Improve Customer Relationships

Let’s say a customer lands on your ecommerce website, starts shopping but abandons their cart soon after.

With a CRM software, you’ll know that this particular customer didn’t make a purchase even though the intention was there. You can then pull up their contact details and enquire why they didn’t complete the purchase or entice them with a discount.

Won’t this customer feel valued?

That’s the power of CRM. It’ll put you in a better position to improve customer engagement and strike better relationships.

3. Greater Ability to Cross-Sell

If your small business just launched a new product, you’ve certainly thought of ways to get your existing customers to buy it.

The only problem? You quite don’t know which of your existing customers are more likely to buy the new offering.

When you are using a powerful CRM software such as Grand Central, you’ll have all the data you need to identify the customers to target for a cross-sell.

For example, if you sell household appliances and offer warranties as well, all new your new customers are potential buyers of both your offerings. CRM software keeps records of new customers, so you can then send them targeted marketing messages.

4. Increased Business Performance

CRM will increase the performance of your business in a couple of ways.

With a better understanding of your customer’s needs and increased ability to cross-sell, your sales will grow. This means a bigger bottom line.

CRM also makes the work of your employees – especially sales and marketing people – easier. They’re able to target specific customers when sending marketing messages.

Resolution of customer problems becomes easier too.

Your Small Business Can Reap the Benefits of CRM

The cost of CRM is one of the reasons many small business owners stick to spreadsheets and other manual methods.

But as we’ve demonstrated, CRM is a necessary business tool in today’s competitive marketplace. From powering your data collection efforts to improving the performance of your business, the benefits of CRM can take your enterprise to the next level.

Need more business insights? Explore the business section of our blog.

Published by Whitney Morgan