When is the Right Time to Invest in a CRM?

Almost every big business uses a customer relationship management (CRM) platform to steward and streamline its interactions with users. For smaller firms, knowing when to integrate this type of software with your daily operations can be difficult.

So how can you tell if the time has come to procure a CRM? Here are the main factors to keep in mind as you plan your next steps.

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Industry-specific CRMs are available

One of the best things about the CRM market today is that it has evolved to the point that there are platforms built with particular industries in mind. This means you do not need to squeeze your business into a one-size-fits-all solution when there are bespoke options available out there.

For example, if you work in real estate there are CRMs like Followupboss.com that are designed from the ground up to help you generate leads and engage with customers across phone, text email and more. There are also CRMs made for everything from retail to banking and beyond, giving you the ultimate in terms of flexibility.

This in turn means that the market is very competitive and pricing is more affordable than ever, making it easier to justify your investment.

Your data is being used sub-optimally

Every interaction with a customer or client generates valuable data, but if you do not have a CRM then this could either be disappearing completely or simply sitting in some sub-system, entirely unused.

If you feel like your business is missing out on major opportunities because of this, or is failing to unpick the insights that could help it innovate and grow, it is definitely a good time to get a CRM in place. You will be able to track everything from the contact details of individual customers to the purchases they have made, when they last touched base with your business and which team members were responsible for handling their needs.

All of this can also unlock in-depth sales metrics that allow you to see how effectively your staff are performing and whether or not there are any areas of weakness or inconsistency that need to be addressed. Data of all kinds can be used to your advantage, and with a CRM this is made far simpler.

Precious time is wasted

In a commercial environment, time is money, so if your employees are having to spend large portions of their working days dealing with menial duties that monopolize their attention without adding much value, this is a concern.

A high quality, modern CRM should give you the ability to automate many of these tasks which were previously handled manually. This can range from orchestrating and reacting to changes in email marketing campaigns, to providing reminders and updates about important deadlines.

Overall, even the smallest businesses will benefit from a CRM solution, and the right system will pay for itself many times over through sales increases and improvements to customer loyalty and retention rates.

About Mohit Tater

Mohit is the co-founder and editor of Entrepreneurship Life, a place where entrepreneurs, start-ups, and business owners can find wide ranging information, advice, resources, and tools for starting, running, and growing their businesses.

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