CRM or Customer Relationship Management Software is an essential tool for SMBs. It empowers customer experiences and gives companies a competitive edge. CRM Software for SMBs is designed to collect details of your customers and store them in one place.
Microsoft’s leading CRM software, Dynamics 365 for Sales, helps small to medium firms build strong relationships with their clients and improve their interactions based on collected data.
CRM system centralizes all data concerning the future, past, and present customers.
According to stats, the global CRM market could reach $129 billion by 2028 (Fortune Business Insights, 2021). It shows that some businesses have already understood the importance of Customer Relationship Management.
However, many SMBs are still confused about whether they need CRM software or not.
We have compiled the top 5 reasons SMBs need CRM software solutions to grow to make things easier.
Top 5 reasons SMBs need CRM software solutions
Streamline The Sales Process
The main reason to use Microsoft Dynamics 365 Sales software is it streamlines your sales process. You can explore all opportunities from acquiring a lead, transforming it into a customer, and providing the necessary options. You can understand that the tool will help build and manage customer relationships right from the name. After obtaining this system, sales teams who handle many different things can be stress-free.
Improving Sales At Least By 30%
Which business does not want to increase its sales? Every company’s main criterion is to increase sales as much as possible. A CRM system will help create new opportunities and target the right audiences. Also, as per the wide range of factors, like market sector, spending, activities, etc., a marketing team can create opportunities that will help to increase sales. But without technology like Customer Relationship Management, it won’t be possible.
Increases Productivity By 50%
Microsoft Dynamics CRM can perform several activities, and the most important is automation. Automated actions created using the tool will increase productivity by 50%. It eliminates confusion and unnecessary manual tasks and reduces stress. CRM system introduces efficient business processes, and the sales department does not have to wait for a long time to collect updated details.
Saves Company’s Resources
CRM technology can save a company’s resources like time and money. It can streamline several steps through automation and avoid manual tasks. As a result, professionals can invest their time in nurturing new leads. CRM is a one-stop solution for businesses operating within a specified marketing budget. This solution will help maximize the return on investments, and you can navigate a considerable profit margin.
Handling Sales to Data Analytics Processes
Many companies still use excel sheets which puts limitations on the company’s insights and data. Contrary to this, if they use one of the efficient CRM Systems, it will provide in-depth analytics, details on sales, and where a company needs to make changes. As a result, there is a higher chance to generate maximum revenue and make critical decisions in favor of the business.
Centralized information database
Furthermore, CRM software lets you create a centralized database with all your customer information so that it can be accessed by anyone in your company who needs it. For example, a sales representative can easily find out what products a specific customer is interested in. The CRM will include records of previous interactions with the customer, helpful in future marketing and sales efforts. It saves your employees time by eliminating the need to dig through old files and records and making for a better customer experience.
Effective Communication with potential leads
Lead nurturing can be a complex and arduous process, involving many steps and opportunities for communication. Your CRM manages the process automatically, notifying your employees when to reach out to the prospect and tracking the interaction from email to phone calls.
Customer Relationship Management is a go-to tool that every business needs to have. After getting CRM system, SMBs can avoid recruiting extra staff and win more deals by approaching the right customers. As one of the fastest-growing industries, the CRM software market is forecast to grow at a rate of 14.27% from 2020 to 2027, thanks to consumer demand for better customer service, automating engagement, and creating a more refined customer experience.
Therefore, many small to medium businesses are looking forward to availing Microsoft dynamics 365 sales to get the system deployed.