As your trusty virtual assistant, I’m here to explain a few things about Customer Relationship Management (CRM) systems and why they can boost your productivity and transform how you manage your business relationships. Let’s get started!
What is a CRM?
A Customer Relationship Management (CRM) system is a centralized storage space that organizes valuable information about your clients, potential clients, and business contacts. It is more than a digital address book. A CRM includes features that help you nurture and grow your business relationships. You can track your customers’ activities, automatically send them targeted messages based on their actions and much more.
There are many CRM platforms available that business owners can use, each with different features and price points. There are expensive customizable solutions for global corporations and low-cost, ready-made apps for solopreneurs. Of course, some CRMs will be better for service-based businesses and others for product-based companies. There are even DRM (donor relationship management) platforms for charities and non-profits.
The Benefits of Using a Customer Relationship Management Platform
See Everything All at Once
With a CRM, you can consolidate all your customer-related information in one place, so it’s easy to access and update. You can see the contact information and communication history at a glance. The comprehensive view means essential details won’t slip through the cracks.
Improve Sales
When you connect your CRM to your website inquiry and sales forms, you can automatically respond to leads and track them through your sales funnel. Then, you can identify and remove any barriers that prevent your potential customers from hiring you or buying your products.
Enrich Communication
A CRM will let you send personalized messages, track responses, and schedule follow-ups effortlessly. When you provide timely and relevant information, you build trust and rapport, and your clients will likely buy from you again. They are also more likely to refer you to their friends and colleagues.
Better Data Means Better Decisions
Relying on customer feedback can be misleading because of the human tendency to focus on the negative. However, CRM analytics provides valuable, more accurate insights into customer behaviour and preferences. Then, you can tailor your marketing strategies to target your ideal clients.
Automate and Streamline
Most CRMs allow you to set up workflows for repetitive processes such as adding contacts to specific mailing lists, sending emails and invoices, tracking statistics, and analyzing data. You will save yourself oodles of time and be able to focus on growing your business instead of crunching numbers.
Collaborate Effectively
Using a CRM means you, your virtual assistant, and other team members will be consistent and timely with customer communication and interactions. It leads to stronger brand reinforcement and improved customer satisfaction.
Comply with Data Security Regulations
Many CRM platforms offer features to protect customers’ sensitive data (e.g., two-factor authentication and encrypted cloud storage). In fact, you can get features that archive or delete customers and their information after a set period of no activity if required in your country or industry.
When to Start Using a CRM
Different businesses have different needs, so migrating to a customer relationship management platform depends on the type of business and its size and complexity. If you are a small, service-based business with only a few regular clients (like my boutique virtual assistant company), you might only need a CRM once you are ready to expand your client base. However, if you have multiple leads every day or every week, migrating to a CRM will help you manage your communications better.
Although there isn’t a set number of contacts to have before using a CRM, consider migrating when you have more than two dozen contacts (including leads, colleagues, and clients). You might feel that your business isn’t “big” enough, but consider the time you will invest learning how to use your CRM system before your business starts growing. Then, when you are ready to expand, you will already have systems in place to scale faster.
Choosing the Right CRM Platform
There is a plethora of CRM systems available, and I am not going to delve into the features of each one. However, I will list some things you should consider when choosing a CRM platform.
Your Business Model
Some companies bring many leads into their sales pipeline and convert them into customers (e.g., online shopping sites). Conversely, other businesses, like coaches and trainers, may bring in only a few leads, transform them into long-term clients and nurture them through a program. Choose a CRM that will support the business you have. Talk to others in your industry and see which platforms they are using.
The Information You Collect
If you collect your clients’ personal or health details, ensure the CRM meets the required privacy standards. For example, in Canada, businesses, regardless of size, must adhere to The Privacy Act. In some provinces, additional legislation applies to health-related information, such as Ontario’s Personal Health Information Protection Act (PHIPA).
Integration With Your Other Systems
Chances are, you are already using a newsletter system, a cloud drive, financial software and more. Choose a CRM that integrates with your existing apps to create one unified platform – hopefully without purchasing another app to link them together. Occasionally, you will find a CRM that integrates with all but one of your existing systems, such as a newsletter system. Adopting a CRM early in your business journey allows you to learn a different newsletter service if you so choose.
Your Plans for the Future
Let’s say you currently offer one-on-one coaching. But, in the future, you might want to sell downloadable guides and provide group coaching sessions, webinars, and more. It would be best if you had a CRM that will grow with your business. Look for a platform that offers customized fields and extra features when you’re ready for them. Also, consider how you will grow your team. Choose a CRM that allows team members (employees, virtual assistants, etc.) to log in with their own credentials.
Their Customer Support
Many companies (not just CRM platforms) have amazingly supportive sales teams. However, once you purchase the product, the help desk is almost non-responsive. Read customer reviews and talk to other people who use the CRM platforms you’re considering before you buy.
Your Budget
The good news is that most CRMs have a trial period. Usually, the trial is 14 days, and you won’t have access to all the features, but it is an excellent opportunity to test the platform. Prepare a portion of your data and start using the CRM to see how you like the interface and how quickly you can adapt your workflow. If you’re still unsure, subscribe to their month-to-month plan. Generally, it’s more expensive than their annual plan, but paying a monthly fee means you can leave easily if you change your mind. Once you’re sure it’s the CRM for you, then subscribe to their annual plan.
As a virtual assistant, I can confirm that companies that invest in a CRM elevate their customer relationships, streamline their operations, and expand faster. In the fast-paced business world, having a CRM is not just an option – it’s a necessity. Use the power of this technology to propel your business forward.