Tuesday April 12, 2016
If you have just left a professional career to become an entrepreneur or freelancer, or if you have recently transitioned to a sales position, you might not be familiar with Customer Relationship Management (CRM) and the software applications available to manage your client relationships. CRM is larger than just a software application – it applies to managing the entire relationship between your business and your clients and customers.
Customer Relationship Management
Even if you previously worked in a position that didn’t involve generating sales or managing client relationships, you already know the importance of both, starting from the point that you meet or are introduced to a prospective customer to the day when you must employ a retention strategy to retain an existing customer and every stage in between. If you fail to convert leads and prospects into customers and abandon existing customer relationships, your business will most likely fail. But if you utilize tools like CRM software to successfully attract new customers and nurture and strengthen existing client relationships, your business will flourish. It’s no exaggeration to say that learning to successfully implement CRM strategies and utilize CRM software can “make or break” your business!
Not All CRM Software And Platforms Are A Right Fit For Your Business
One of the biggest mistakes that new entrepreneurs make when selecting a CRM strategy and a corresponding software package and platform is choosing a CRM designed for larger businesses and corporations. While it is important to plan for a future when your small business will grow larger,choosing a strategy that is incompatible with the current size of your business and client base and overpaying for an advanced CRM software or service package can lead to wasted resources and, more importantly, mismanaged client relationships. “Wasted resources” can amount to much more than the actual up-front or monthly subscription cost of the CRM software or platform, due to the fact that you and your employees will have to train, either informally or formally, to effectively use the software or platform correctly. Utilizing a CRM software or platform that is too powerful can also lead to wasted time trying to interpret over-complicated reports and attempting to fully customize the interface to fit your needs. By selecting a CRM software or platform that is appropriate for the size of your business with the ability scale as you grow, you can minimize the lifetime costs of purchasing and implementing it while ensuring that you effectively utilize all of the features to boost your client relationships.