by by Jami J. Rodgers, Vendor Guru Columnist
Today, a CRM tool is a necessity for the highly competitive small business. You can use the tool as a multi-functional system for tracking and analyzing critical data about purchasing decisions, demographics, and other marketing-related data. The CRM databases allow you to use minimal resources to track critical trends in current business, as well as opportunities for growth.
The U.S. Census Bureau reports that spending for CRM systems increased from $13.48 billion worldwide in 2001 to $19.61 billion in 2005--and for good reason. Reports indicate this upward trend is the result of implementation of new CRM technologies in mid-size companies. Given this increase in spending and the competitive nature of those providing CRM tools, solutions for the small business owner are within reach now more than ever. Customizable and cost-effective CRM tools have come into the marketplace to assist you in managing your current customer base, as well as access new clientele. Without targeted customers, a small business is not able to grow or improve its current customer relationships.
 |
||
 |
||
Small Business CRM Tools: The Big Picture
CRM tools provide your business with front-line sales and marketing data tracking that encompass your entire operation. Historical figures can be stored in a CRM tool to help identify trends. Automated features allow the small business to effectively and efficiently forecast sales, track customer preferences, and customer service solutions. These various functions allow you to increase the level of service to your customer with information available at your fingertips.
Increased Efficiency Offsets CRM Costs
Typically, without having to rely on direct labor to identify and analyze sales data, marketing trends, demographics, and other factors, a CRM system can pay for itself several times over. CRM tools increase the value of your customer relationships by providing instant access to a particular buyer’s history with your small business, what products or services the buyer has acquired, and any service issues the buyer may have. In the world of increased automation, when sales staff know a client’s history prior to engaging in a sales pitch, it enables them to establish a rapport when interacting with the customer. This increased efficiency not only adds to your bottom line, but builds a strong customer relationship that lasts well into the future.
Sources
U.S. Census Bureau
“CRM Spending Forecast and Analysis 2001-2005,” DM Review
Jami J. Rodgers works in acquisition management for the federal sector in Washington, D.C. Jami holds a B.S. in Spanish with a business option and an international studies minor from The Pennsylvania State University.
