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Is your business struggling to grow and succeed in an ever-changing marketplace? Are you unable to compete with the large enterprises? It’s time that you look into your business-customer process such as customer interaction and lead management. Most experts rate customer satisfaction as the most important factor of success. This is more applicable for small and medium-sized businesses that often rely upon existing customers (for repeat business). Thanks to business management applications that it is now possible for the small and medium-sized businesses to manage their customers easily. Customer Relationship Management – the best business management application for customer handling Most small and medium-sized businesses struggle between the need for a better management and low budget to afford a management tool. This is precisely where CRM software solutions come into the picture. CRM is a customer oriented business model that helps SMBs derive maximum benefit at a low cost. In what follows are a few ways in which SMBs benefit from CRM: · Better insight on customer behavior to help frame the future marketing policies · Improved sales through better lead management techniques · Quick identification of loyal customers and other important groups of buyers · Streamlined sales and customer management process that result in better inter-departmental coordination · Monthly report on sales and customer data to make informed business decisions · Better client service through prompt action to customer concerns/queries · High data security that eliminates the risk of unauthorized data access. Cloud-based CRM – popular among small and medium-sized businesses On-premise and Cloud based CRM system is available. However, most SMBs opt for Cloud/web based CRM solution. According to a recent report, in the coming 7 years, most CRM implementation will be Cloud based. If experts are to be believed, small and medium-sized businesses will constitute the major portion of Cloud CRM buyers. Let’s look why SMBs prefer Cloud CRM to On-premise CRM solution: Cloud CRM solution is cost effective which makes it the perfect option for small businesses. In comparison to on-premise CRM system (that is time consuming and expensive), Cloud CRM easily fits into the small budget of the SMBs. Deployment of Cloud CRM benefits the SMBs in several ways such as the following: · Decreased cost of ownership · Decreased expense on IT infrastructure with no upfront investment · Reduced responsibility of software maintenance · Updated CRM versions (which is otherwise difficult in on-premise CRM due to high expense) · CRM Customization - change of templates and fields according to the need. · Online data storage that minimizes the responsibility of data storage management. · Easy monthly subscription.
How should SMBs choose the right Cloud CRM? As discussed above, the demand of Cloud CRM is high among the SMBs due to the low cost factor. Considering this popularity of online CRM solution, there has been a huge increase of Cloud based CRM vendors. With so many buyers offering Cloud CRM solution, it can confuse small and medium-sized businesses to choose the right one. According to the experts, cost cannot be the only factor while choosing Cloud CRM. SMBs need to understand the requirements of their business too. For instance, data security and confidentiality will be important for a government organization. A CRM that offers authorized data access and data privacy should be the right choice for government agencies. Apart from business requirements, vendor solvency and easy usage are other factors that SMBs should consider. After all, a right CRM tool (affordable and business-compatible) will help small and medium-sized businesses to adopt a customer-centered approach at a minimum cost. Author’s Bio: Paul Anderson is a renowned author who has written several articles and write-ups on business management processes. In this article, he talks about CRM software solutions and how it benefits SMBs. He also discusses the important factors (such as CRM customization) that SMBs should consider while choosing Cloud CRM.
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