Talking Cents

What is customer relationship management and how can it help your business

Customer relationship management (CRM) is a key software that can help with the efficiency of your business. As small businesses tend to spend a lot of time and money focusing on sales and marketing to acquire new customers- the more efficient way to grow your business is first retaining your existing customers. It costs far more to acquire new customers than to keep the ones you already have. CRM software helps businesses keep track of their interactions with their customers and gives tips on improving contact. This in hand, helps you keep your customers for the long-run. Here at M.A.S Partners, the leading small business accountants in Sydney, we understand the importance of CRM and understand the impact it can make on a small business. With our vast experience in working with CRM software, we have provided a guide to help you get started on yours.

Functions of CRM

CRMs have many different functions that will help you improve the interactions you have with your customers. They store all the details of your customers to keep track of your interactions with them. They handle customer interactions such as log calls, schedule meetings, maintain contacts, store customer emails, and handle issues and complaints. They schedule client contact to remind you when it is a good time to make calls or send emails/pop up alerts if a customer has not been contacted for a while. Ever wonder why companies tend to call you around the same time? It is due to CRMs! Additionally, they track campaigns to see the results of your marketing campaigns- to find out which types of campaigns are working best for your particular market. They manage your sales team- tracking performance of your team’s sales and provide additional help and training where needed. Furthermore, they create special offers for your clients who seem to be drifting away- which helps them regain interest in your brand. An effective CRM will get the most out of your customers who you have already sold to and have had them sign up.

Choosing the right software

There are hundreds of different CRM applications to choose from, as it has been used for years. As such, it is important that you pick the right software for you and your business. When selecting a CRM, ensure that it has the features you are looking for, the pricing is competitive, it can be scaled when your company becomes bigger, has good tech support, and has cloud connectivity.

Consider M.A.S Partners for small business accounting

With decades of experience in small business accounting, we have helped hundreds of different businesses grow using effective CRM software. Our small business accountants work with a wide range of businesses and are knowledgeable on different industries. We provide bookkeeping, as well as professional small business accounting advice. For more information on our small business accounting services, click here.