5 Key Indicators Your Company Needs a CRM

By: Christine

 

Any business looking for sustainable growth and an ability to capture more opportunities will benefit from a customer relationship management (CRM) system – but how do you know if this investment is one you should make?

If your company is experiencing these 5 indicators, a CRM system could be crucial to success.

1. Poor customer service

Customers and employees are forced to repeat themselves several times in the course of a conversation because the information isn’t readily available. Employees aren’t on the same page, and customers end up being bounced around and misinformed. Customer communication is hard to track without a CRM when it is not in a centralized location. When customer service isn’t up to par, it opens the door for competition.

2. You’re losing data

Without a CRM system to provide a centralized place to store data and analytics, your company is losing key information. Data can be stored on employee cell phones, emails, documents, and within employees themselves. There is no way to keep the information organized and no way to properly analyze the data to make knowledgeable decisions. You run the risk of losing valuable information with every employee that leaves the company. A CRM would not only keep track of data – it would also regularly back it up and provide a dashboard to analyze the information.

3. Missed sales opportunities

You want to improve your sales, but you cannot ensure that you are properly tracking the progress of your relationships. In addition, keeping track of sales leads manually is difficult and time-consuming for employees as companies grow. How do you know what is working for sales and what is not? A CRM system will keep track of sales relationships and remind employees to follow-up at meaningful times to prevent customers and opportunities from falling through the cracks.

4. Issues tracking leads and revenues

Do you have a way to accurately track leads, revenue, and their sources? Manually tracking unqualified opportunities wastes time. A CRM can help a company make these types of estimates and track valuable leads. Both of these makes it possible to target the most valuable opportunities and create a real strategy to increase revenue.

5. Inability to scale

Is your company prepared for rapid growth? An excel spreadsheet works for fewer customers, but if your company were to take off quickly, would your current operations be able to live up to the increase in volume? With a CRM system you can view data and create reports for increasing amounts of information stored all in one place. The software will have the ability to grow and change as your company does.

Almost all businesses use CRM to better manage their customer relationships as well as drive and improve sales. If your company is experiencing these internal issues with disorganization, and lack of insight, it is probably time to implement a CRM system that will give your company the potential to grow.

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