How a CRM Can Help Your SMB Grow

by Duncan Stockdill, CEO of Capsule, Guest Contributor

​Every interaction your business has with a customer is an opportunity to make that relationship stronger, which leads to increased sales and loyalty. Data from these interactions can be tracked and analyzed in order to optimize operations and create competitive advantages. But, unless you have a standard procedure and platform to make this happen, it won’t work. A customer relationship management (CRM) system makes it possible for organizations of any size to manage customer interactions. And it’s not just an enterprise-level must-have. Every company - small or large - needs a CRM system in place. One could even argue that CRM systems are more beneficial to smaller companies versus larger enterprises.

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Customers expect to have closer relationships with those at a small business so if you don’t have a CRM set up to manage those relationships you could quickly lose the trust, and business of your customers. But implementing tools and software for SMBs is usually a more difficult process, so it’s essential that users maximize the benefits that their CRM system provides. The first step is choosing a solution that’s aligned with your business processes and workflows. Think about things like who will be using the CRM and what functions do they require? The needs of different people and different departments will not be the same. Once you determine the best solution for your business, make sure your team is set up for success by maximizing the use of the system. CRM systems can help you be more connected to customers, improve business performance, and grow your company bigger and faster than ever.

Connect your CRM system to your marketing tools
Without a CRM system, 79 percent of all marketing leads are never converted to sales. Those numbers are shocking, and reason alone to invest in one ASAP. You’ve spent a ton of time and resources getting leads, but once you have them, how do you close them? Time is of the essence, so making the most of your marketing tools, like email, social, and marketing automation, by connecting them to your CRM system is essential. This will give both your sales and marketing teams a complete view of leads and prospects so they can create customized and engaging communications plans to turn those prospects into customers quickly.
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CRM software provides small businesses with the ability to improve customer retention and increase employee productivity. A CRM can also streamline sales making it easier to manage and keep track of prospects.

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Build better relationships
It’s essential to have a deep understanding of your customer’s business. This starts with knowing all of their history and interactions with your company. By utilizing a CRM system, you can figure out what your customer’s goals, challenges, and preferences are. You can then use this data to engage in a way that’s relevant to your customers.

Reducing sales costs
The probability of selling to a new prospect is 5-20 percent. The probability of selling to an existing customer is 60-70 percent. While new customers are a key ingredient for growth, they’re not easy (or cheap) to come by. You can offset new customer acquisition costs through sales to your existing customer base. Since CRM systems keep track of all sales, it allows you to understand what products are often purchased together, and what order products are generally purchased in. This lets you analyze all of the existing opportunities that are a good fit for add-on deals.

Increase employee productivity
52 percent of high-performing salespeople identified themselves as power users who take full advantage of their companies’ CRM  technology. Adopting the right technology frees up your teams from admin and process-focused tasks and gives them more time to connect and build relationships with customers. Automation across sales, service, and marketing will free your employees so you can spend more time nurturing those important relationships.

Offer better service
55 percent of consumers say they would would pay more for a better customer experience. Even the very best product is only as good as the service that accompanies it - before, during, and after the sale. Figure out what your customer wants, and deliver. When the team has access to the history of the client, it’s easier to provide personalized messages and solutions, and the right resources. Smoother interactions build trust and encourage repeat business. It also helps with customer retention, a major pain point for most SMBs.

CRM systems are essential for businesses in the SMB market. If you’re already investing time and money in the software, make sure all of your employees know how to use all of the features available, maximizing the impact it will have across your business.
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About Duncan Stockdill:

Duncan Stockdill is a founder and CEO of Capsule. Duncan looks after marketing, product and design decisions, guiding the team to deliver a world-class product that helps thousands of businesses around the globe.​

About Capsule:

Capsule is a Customer Relationship Management (CRM) SaaS platform that helps businesses stay organized, know more about their customers, build strong relationships and make the most of sales opportunities, all while minimizing user input. The product supports small to large scale organizations and is easily scalable as businesses grow. Launched in 2009 in Manchester, United Kingdom, Capsule is already used by more than 15,000 customers across the globe. To learn more about Capsule, visit www.capsulecrm.com.

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