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Relationship Issues

Is it time for your growing business to spring for a sophisticated CRM solution?

By Melissa Campanelli

Opinions expressed by Entrepreneur contributors are their own.

These days, entrepreneurs face a barrage of marketing messagestrumpeting the latest and greatest CRM tools. CRM software promisesto streamline customer service, simplify marketing and salesefforts, and help companies find new customers and generate morerevenue from existing customers. Using software to record customerinteractions with sales and customer service personnel, CRMapplications can provide a 360-degree view of your business 24/7.The goal is to boost revenue and keep customers happy.

Recent studies indicate that growing businesses are the drivingforce behind the growth of this type of software in North America.Inspired by this trend, numerous software vendors have set out todevelop CRM tools that aim to meet the needs of this segment. Infact, a study released earlier this year by Jupiter Media Metrix,titled "Enterprise Software Adoption in the SMB Market,"found that spending on CRM software by small and midsizedbusinesses (SMBs) would reach $651 million by 2006 and make up 19percent of the entire CRM software market, up from 10 percent in2001.

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