CRM ARTICLE
CRMs for Small Businesses. How beneficial can they be?
SmallBizCRM Staff – October 14th, 2024
Smaller businesses or sole proprietors often lack the resources and expertise to build their company into a thriving business. They need an ally, someone who can help guide them through the many obstacles they’ll face along the way. A Sales Management System (SMS) is your ally. It’s a CRM software that will help you manage your sales team and track their performance so you can measure their effectiveness. You won’t be able to manage your small business if you don’t have CRM software. Here are six reasons why you need a CRM for your small business and not one of those bigger companies with all their resources at their disposal.
You’re Not Selling Enough
Selling is the key to growth for any business. There are many ways to increase your sales, but you first need to know how much you’re currently selling. If you don’t know how much of your product or service is hitting your customers’ hands, you won’t know how to improve. You’ll waste time and resources developing products and services that aren’t successful. When you know how much you’re currently selling, you can begin to plan your sales strategy. You can compare your sales results with your competitors to identify how large a gap exists between you and your competitors. You can also compare your sales results with past sales performance. If you notice a pattern in past sales performance, you can use that data to inform future sales strategy.
You Can’t Track your Pipeline
Let’s say you’re selling $100,000 of product or services in a given year. If you only have 10 salespeople on your team, that means that you have 1,000 potential sales opportunities. You need a way to track each opportunity as it moves through your sales pipeline to be at all aware if and when it reaches the end of the pipeline and to be able to track the success of each sales opportunity as it moves from opportunity to close. You can do this using sales pipeline management software. This software allows you to track people, appointments, and opportunities. You can also assign tasks and track their progress. This gives you the visibility into your sales process that you need to be able to manage your sales team effectively.
Your Employees are Flaky
You’ve hired a great salesperson, but they’ve only sold 10% of their quota so far this year. You can’t afford to lose them. What do you do? You fire them, of course. If a salesperson isn’t hitting their quota, they’ll either be fired or quit. You don’t want to lose them. What you want to do is correct their flakiness. Your salesperson may be flaky because they have a bad work ethic or they’re just having a bad day. You need to correct the root cause and learn from it so it doesn’t happen again. You can do this by conducting 1-on-1s with your salespeople. Use your CRM to track the conversations so you can use that data to identify the root cause of their flakiness.
You Need to Benchmark Against Competitors
You’re evaluating new CRM software options and you notice that your competitors all have wildly different CRM solutions. This makes it difficult to benchmark your company’s performance against your competitors. You can use your CRM software to benchmark your company’s performance against your competitors. You can easily see which of your competitors have the same core features as yours so you can benchmark and compare your performance. This lets you know what you need to do to close that gap and take your company to the next level. It lets you know what features and functionalities you need to build into your CRM so it can truly assist your sales team. By benchmarking your company’s performance, you can also track your salespeople’s performance and compare it to industry standards. You can also track and analyze sales data in order to find trends and patterns that can help you improve your CRM in the future.
You Need to Reach New Customers
Let’s say your best salesperson is hitting their quota consistently and is selling your $100,000 of revenue every year. They have a great reputation within the company and have been here for 10 years. But, this salesperson is struggling to close new accounts. They keep hitting the same obstacles and delivering low sales numbers year after year. What do you do? You fire the salesperson and replace them with a new single salesperson. You can’t replace a good salesperson with a bad one by firing the “bad” salesperson. Yes, they need to be replaced, but in a way that doesn’t disrupt the rest of the sales team.
You Need Automated Confirming Emails
You just received a sales proposal from a new company. You’ve never heard of them. You can’t send them an email asking for more details because you don’t know what to look for in a sales proposal. Your CRM will save you from this problem. You can easily create templates and sales processes that guide you through the sales process. You can also share these templates with your sales team so they have a standard way of communicating with new customers. You can also create custom templates for your salespeople to guide them through the process of writing personalized emails.
Wrapping Up
If you’re looking for the perfect CRM to elevate your business, the right support can make all the difference. A CRM’s true value lies not just in its features but in the assistance it offers to ensure you get the most out of the system. Whether you need personalized training or responsive troubleshooting, platforms like EngageBay and Capsule CRM offer standout customer service designed to help businesses thrive. Visit this page to explore CRM options that come with exceptional support, tailored solutions, and the tools you need to build lasting customer relationships. Find your ideal CRM today!
CRM software is an essential tool for any business. It can make or break your ability to grow and thrive. If you don’t have a CRM for your small business, you’re missing out on critical data about your sales team, their performance, and your sales pipeline. CRM software for small businesses can help you track sales processes, manage your team, and improve sales productivity.