How Start-ups Can Benefit by Using Customer Relationship Management
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What typically defines start-up is a brilliant idea and rapid growth plan. The brilliant idea could be development of a product or a service; it could also be a delivery mechanism. But sales remain an essential component for any of the above stated scenario.
For sustaining the rapid boom, planning of sales growth is immensely important. If start-ups can manage sales properly, then their growth plan is sure to succeed. A good Customer Relationship Management (CRM) can help start-ups to achieve their Sales targets and scale the operations very efficiently.
The idea that a start-up becomes systematic over a period of time by itself is partially true. Generally, the team has to make a conscious effort at organizing the business. A well-defined process would go a long way in facilitating this goal. Today, there are many tools in the market which assist in systemizing these processes. CRM is a one stop shop while looking for a management tool.
Centralized Customer Information
Start-ups generally comprise small but effective teams. Having all the information about customers (and potential customers) on a centralized platform makes it easy for teams to access information and makes effective decisions. Most of the CRMs provide a very effective mobile app, which provides customer information at your fingertips.
Centralized information about Customer Interactions
Generally there is more than one person involved in interacting with customers. Without investing much effort, a CRM can provide every interaction with customers by any team member. This saves lot of internal communication and confusion.
Cross Selling and Up-selling
There are only two ways to increase sales. Targeting new customers or selling more to the existing ones. For doing this, proper customer segmentation and categorization is crucial. CRM helps with appropriate insights and intelligence for cross-selling and up-selling.
Investors Love it
Yes, any investor appreciates a company which has proper sales management. It is so because a transparent sales funnel helps to predict and manage growth more efficiently. Investors are inclined towards companies which have proper corporate governance and process oriented culture.
To differentiate yourself from others, you need to create a customer oriented organization. This kind of culture is cumbersome to achieve without a proper and comprehensive CRM, One which would cover the important aspects of management like marketing, sales and service. If entire team uses one platform which provides complete insight to customer engagement, they are in better position to take care of customers.
Automating Customer Engagement
CRM helps automate customer engagements and increase customer satisfaction with timely alerts and notifications. Even Customer support can be elevated to next level with multi-channel access to customers through calls, emails, SMS, chats, ticket portals, etc.
Pay as You Grow
Previously CRM was a costly solution, affordable only to big companies but not anymore. Most of CRM systems today are available as SAAS model. This helps start-ups to keep an eye on their budget at the same time avail latest technology to increase their sales. This is one of the most recommendable features of modern CRM systems.
We have implemented CRM and Call Centre Solutions in many start-ups in technology as well as non-tech verticals. We have seen them grow over years in a very structured and stable manner. Our CRM has also grown with them. CRM is one of the first tools that should be implemented in any start-up if they need to grow to the next level. Without CRM, sales will not grow as expected.