CRM database software has become a necessary part of running a successful business. It is particularly important for small businesses looking to grow, because it aligns your teams around one source of truth and allows a small team to do the work of an enterprise-level business. Let’s dig into some of the specifics to gain a better understanding of what CRM database software is, and how it benefits you.
CRM stands for customer relationship management, and essentially that is exactly what it does. It provides your business with a single repository of customer and prospect information. Each contact in the database has his or her own contact page, and all the details about that individual are stored there. This includes demographic data like geographical location, industry, company size, etc. It also stores contact information such as email, telephone, and address. If you have a robust solution, it provides social media profile information too—for example, take a look at Agile CRM’s social suite.
CRM database software also tracks all the interactions a contact has with your company, such as websites visited, emails opened, buying history and more. This is critically important as it gives you insight into a contact’s interests, allowing you to personalize your approach to them. The way this information is organized depends on the solution you choose. Probably the best type of contact data organization is a 360-degree view—such as Agile CRM’s 360-degree contact view that also includes a chronological timeline of those interactions.
When you use CRM databases software, everyone in your company who uses it sees the same information. When one user enters new information on a contact, it is updated in real time for everyone to see. To learn more about some of the features of CRM database software, check out Agile CRM’s contact management features.
Understanding what the software does is an important step towards getting started. But it’s also important to understand the benefits involved. Some common questions we hear are: How can CRM database software help my business? Why is CRM database software important for the growth of my business? What are the advantages of CRM software as opposed to traditional paper-based processes? Here’s a rundown to shed some light on the topic:
When you have various teams, such as sales, marketing and customer support, all working in silos, it’s hard for them to collaboratively. But with CRM database software, every interaction that members of those teams have with a customer or prospect is all tracked back to a central database, meaning sales will know if a customer has complained about an issue to customer support, and can tailor their outreach accordingly.
When teams work in silos, they often do the same work at the same time, without knowing it. This kind of overlap kills efficiency like nothing else. Where a CRM helps solve for this is the real-time data sync involved. As soon as someone from sales speaks to a new customer and gets his contact information, they enter it into the CRM and it’s instantly updated in the same system other teams are using. That way, when customer support wants to reach out to a new customer, they will already know his contact information has been collected and won’t waste time asking for it. And if your CRM database software also provides automation in other areas—such as Agile CRM’s marketing automation capabilities—efficiency goes up ever further.
The extensive information that is stored for each contact in your CRM database software slowly builds a very detailed profile of each contact, including interests, past buying behavior, web browsing habits and more. It means that each person in your database gets treated like more than just a number. They get a personal approach that helps them stay satisfied with your brand. This is especially helpful if your CRM also has customer support capabilities, such as Agile CRM’s full customer support suite.
This ties back to personalization. When each customer interaction feels more personal, customers stay happier and more loyal to your brand over the long term. But, if five people call them about the same issue, they get frustrated. If they have expressed frustration about an issue to customer support and are threatening to leave, then sales calls them asking them to do a favor, they are likely to start looking at competitors.
The sales team will have access to view every interaction that prospect has had with your company. This includes every email they have opened and every web page they visited. Imagine how well this prepares a salesperson for a conversation. They know exactly what to hit on to engage the prospect, and what to say to establish a better rapport. This translates to a higher conversion rate and a higher close rate. Plus, you’ll close even more deals in even less time if your CRM has sales enablement and automation features built in, such as Agile CRM’s suite of over 50 sales features.
You have probably gathered this by now, but all of the benefits above add up to increased revenue growth—both from closing more deals, but also from reducing customer attrition. This is especially the case for small businesses, because powerful CRM database software lets them work like a Fortune 500 company with just a few employees. Plus, some CRM database software is fairly inexpensive. In rare cases, you’ll get a full, end-to- end CRM, sales, marketing and support solution, all bundled together in one platform. That’s where the real savings lie. Luckily, Agile CRM provides all this for free, which is why so many small and medium businesses choose Agile CRM to drive growth.