To secure an efficient and prosperous expansion for your business, you’ll need a solid foundation of comprehensive, automated workflows to make sure that no prospective inputs fall through the cracks.
This is where CRMs come in.
Like a backbone in the human body, a CRM lies at the center of your business, connecting its vital parts into one sustainable system and supporting it as it grows, so that it would never crush under its own weight.
View Your CRM As Your Business’s Blueprint
Just like your own, each business consists of three interrelated parts – the idea, the people and the infrastructure.
The idea was there the moment you imagined the business you are running today, and it stays with you at all times. It evolves: it changes, expands, and lives with you.
The people are your employees, and your clients or customers. They give meaning to the business idea and, with their involvement and dedication, blur the line between imagination and reality it flourishes in.
Yet it is the infrastructure, despite it not being the purpose of your business idea conceptually, that helps the people involved on both ends of your business stay in tune with both each other and the idea.
So it breaks down to this:
CRM represents the software infrastructure that connects the different aspects of your business into one integrated, centralized system that expands with your business in a wholesome manner.
CRMs offer workflow automation and allow you to smoothly integrate new processes into your existing frameworks as your business expands.
What Type Of CRM Should You Get?
CRMs have been around for the past twenty years or so.
A lot has changed, but one of the major changes the CRM industry has gone through is the “verticalization” of CRMs.
Today, there are two types of CRMs to choose from – industry-specific CRMs and customizable CRMs.
“Vertical” CRMs, aka “industry-specific” CRMs
Built specifically for each industry, these CRMs are marketed specifically to businesses from each particular industry. But even though investing in a CRM built specifically for your industry may sound like a great idea, it isn’t always so.
These systems do come with workflow automations pre-built for each industry, and they do entail the regulations and unique requirements of each industry, but when it comes to securing sustainable business growth they lack one key factor: flexibility, or in other words – customizability.
“Vertical” or “niche” CRMs are most delivered with a one-size-fits-all assumption, therefore they are rigid and most often lack the customizability to support your business growth optimally.
Moreover, they charge a premium for the specificity of their systems, while in truth the specific features are not so very different from what any other CRM could offer with a speck of customization.
Which Industries Benefit From Vertical CRMs?
Because they are built specifically for each industry, some industries with highly complex regulations or industry requirements are inclined to sacrifice customizability for specificity and choose an industry-specific CRM.
Some highly regulated industries include healthcare, insurance, government agencies, and mortgage lending, while industries with unique processes and workflows include hospitality, construction, and consulting.
Industries that involve managing a large workforce of agents or resellers, all of whom have their own listings, clients, and sales are, for example, real estate firms, automotive sales, and franchise management.
However, having a generic, industry-specific CRM that’s so rigid it almost tells you how to run your business can turn out to be as bad as not having a CRM at all.
That’s why it’s advised not to shy away from opting out for a horizontal, customizable CRM only because it needs to be set up by someone in the know and ready to understand your business.
Schedule your free consultation with our Marketing Automation Specialist today, and find out just how easy setting up your CRM and taking your business to the next level can be.
Lead Generation Optimization
Customize the ways you communicate with, capture, and nurture your leads for each product and service you provide. Own your top-of-funnel game by segmenting your audience and meeting each particular customer with custom assets made for whatever step of the buyer’s journey they’re in.
Sales Pipeline Marketing
Measure contact engagement to automatically move prospects through your sales pipeline and set up activity alerts to help your team identify the next step. The goal is to ensure that each of your sales pipeline contacts are nurtured appropriately.
Whether through deliberate consideration or automated processes, advanced contact management within your marketing automation platform empowers your team to push meaningful upsells and additional services to customers. It highlights opportunities to increase revenue and drive repeat purchases.
The Downsides of Not Having a CRM In Place and Operational
The significance of not decreasing your clients and prospects down to simply crude, accounting page information has never been more common than in the present market.
By taking into account only the crude information and numbers, you risk coming up short by failing to see the bigger picture. For example meeting your prospects needs, solving their problem or reducing or filling a gap in their business or processes.
The greatest inconveniences of not utilizing a CRM add up to:
- Missed opportunities in follow up or closing of potential sales opportunities
- Restricted view into sales pipeline and forecasts
- Inability to review or iterate your sales process no unified location for customer purchase history, patterns, preferences
- Limited access to data and customer insight
- Inability to share customer information with anyone else in the company
On the other hand, businesses that successfully integrate a CRM into their workflow improve their outreach and workflows through automation. This ensures better messaging and customer service, which leads to more conversions and, very often, higher order values.
Internally, it lets you create user profiles and structure your company and job titles according to your business needs, with easy control of levels of access to the centrally stored information. This helps prevent the creation of data silos – isolated pools of business data held by one group in your organization that is isolated from other groups. Data silos can gravely slow down your operations, and they most often tend to emerge when a business doesn’t use a CRM or fails to integrate one appropriately. Instead, such businesses rely solely on spreadsheets, inboxes, documents, and the brain to gain insightful information.
Nothing Beats a Customizable CRM
The right CRM for your business is the one that lets you automate and customize everything efficiently, and in compliance with what your business’s growth requirements dictate. A CRM is meant to save you valuable businesses resources and make your job easier by making everything automated, interconnected, and easily accessible and adjustable, all the while making it easy to structure your employees’ user profiles according to job titles and access permits.