Contrary to what a lot of people may believe from the outset, CRM is not a new invention. The very first customer relationship management framework came into effect in 1995, which technically makes CRM as a technology decades old at this point.
Therefore, the obvious question is, if so many businesses have managed to make it without the help of a CRM software so far, do you really need one now? Let’s try and answer that question in more detail next.
Understanding the Basic Functions of a Modern CRM Software
In order to really know whether or not a particular business establishment stands to benefit by investing in any new piece of technology or modern equipment, it is imperative to understand what functions it serves first. Only then can we make an informed decision by comparing the needs of our business with what that particular piece of technology/equipment can be used for.
CRM Software’s Primary Functions
In case of customer relationship management software systems, the primary functions it serves can be summarized as follows, but keep in mind that there might be additional features as well, depending on the software provider.
- Lead generation, tracking and scoring
- Existing customer/contact management
- Marketing & sales data tracking, reporting and analysis
- Performance management
- Predictive forecasting
- Customer service tracking and assisting
- Automating data entry work and eliminating most of the manual paperwork
That more or less covers the basic functionalities that we should expect from a modern CRM system. These should also give you an idea of what to expect if you do choose to invest in one.
Boosting Productivity at a Grassroot Level
In case you have an online business, the benefits of adopting the right eCommerce CRM can be particularly effective in bringing forth unprecedented productivity. As a matter of fact, if you do have an online business and you have not yet invested in a eCommerce CRM yet, you are definitely losing out on productivity, because if we set aside all the more advanced aspects and benefits of modern CRM systems, the elimination of repetitive data entry work alone will free up your employees to spend their time in doing the actual work that they were hired for!
How Should You Choose?
We have already discussed the most important features to expect from your CRM software, but there are quite a few good options to choose from, all of which offer the same features but with slight variations.
Now, those slight variations in features, scalability, price, etc. will play big roles once implemented, so you need to choose intelligently, and only after going through all your options and their specific features carefully. In order to do that, check out this list of the top ten eCommerce CRM systems on ECM and make an informed choice.
In conclusion, the answer to the titular question would have to be that any business which does not have a CRM system yet, or is still using an older and outdated version, can and will benefit from investing in a new one. However, one needs to be careful in choosing the right software, as there are plenty of them out there that are simply not worth your money.