CRM is a modern convenience for businesses of all sizes, including startups and scale-ups. How exactly can it help your startup thrive? Read on!
More and more companies start using CRM tools to manage their contacts, saving them precious time, effort and money in the process. And with good reason: to all businesses, customer retention is about as important as customer acquisition. Most sources claim it will easily cost you 3-5 times as much to find new customers rather than retaining the ones you have.
The days in which CRM tools were only for the happy few (as in: major enterprises that could afford its cost) are also long gone. In fact, CRM has become a modern convenience for businesses of all sizes, including start-ups, scale-ups and small businesses. But how exactly can CRM help your startup grow and thrive? Read on!
How can CRM help your startup?
1. CRM helps you build and maintain relationships
Your business’ success stands and falls with understanding the needs of your target audience. But what are your customers telling you or asking of you? Where do you keep this information?
For instance: customers may already like your product or service, but perhaps they would be even happier if you were to add one simple feature: this is feedback you should ideally store in an accessible, centralised place. A CRM tool helps you build, but also maintain relationships by centralising your communication, keeping track of all prior communication and syncing contact information easily.
"Any and every person that engages with your business could be relevant to you in the future."
Even if you’re a startup in early stage phase of your company - any and every person that engages with your business could potentially be relevant to you in the future. But how will you remember the context in which you met the person, the potential collaboration you discussed, the ideas you exchanged a few months down the line? The answer is simple: you won’t. But a CRM tool will.
2. CRM helps you streamline your internal processes
Believe us, we know how hard it is to stay on top of things when you’re a startup. Chances are, your daily activities involve a myriad of different tasks with different stakeholders, emails probably flood your inbox, your team members most likely wear different hats within the organization, and time, as well as money, is limited.
Using a CRM tool gives you so many different ways of saving time. For starters, it enables you to store all the relevant bits and pieces in one central place, making data redundancy a thing of the past: each team member can access customer information, tasks related to that client, notes, problems, projects etc. - turning real time collaboration into reality.
But proper CRM software is more than just a database that helps you store information. It serves as an actionable tool, helping you plan and delegate tasks, send invoices, draw conclusions out of actual statistics, in short: it enables you to easily manage your business and everything it entails.
3. CRM is the missing link between sales managers and the rest of your organization
When you’re dealing with extensive lists of leads, users, potential investors, journalists, people you meet at networking events, etc. using the right software allows you to stay organized and never miss a beat. For instance, sending out your sales quote automatically will cause less delay, which in turn means the client can make a decision in a shorter time frame. And we know as much as anyone that a shorter sales cycle prevents leads from going cold or getting picked up by competitors.
Being able to register leads using different category systems, lists and features like deal source will help you prioritize which leads to go after first, and how to approach them in a context that relates strongly with their background.
"All crucial sales statistics can be handily visualised in mere clicks."
In addition, CRM tools offer you a wealth of easily digestible statistics to learn from and improve your sales process. Who are your best customers and where are they located? Who’s reeling in the most deals? How long is your sales cycle? What does your sales funnel look like? Which conversion rates need improving? All this crucial information can be handily visualised in mere clicks - no Excel formulas needed.
How can Teamleader help your startup?
Teamleader is an easy-to-use and affordable all-in-one solution, designed specifically to respond to the challenges small, growing businesses face. Bringing together CRM, project management and invoicing in one intuitive tool, Teamleader allows your team to build, organize and grow your business.
How? Through various modules :
- Project Management
Are you using different types of software already, like Dropbox, MailChimp, or one of the many bookkeeping tools? No problem – Teamleader offers a seamless integration with a wide range of tools.
Discover Teamleader FOR FREE through the Startup Program!