Why Crm Is a Key Factor for Business Recovery Post COVID-19

By Philip Mayling, Founder and CEO of BuddyCRM, a CRM solution developed by salespeople for salespeople.

According to the latest news reports, the UK is officially in a recession with GDP falling 20.4% over the last quarter alone.

However, as many businesses were forced to close their doors during this lockdown period, these stats won’t come as a surprise; with forecasted figures for the next quarter looking far more promising as shops, hotels, restaurants and manufacturers are now operating again.

For business leaders concerned about what the next 6, 12 or even 18 months will bring, driving a steady and consistent stream of sales will be key to survival, but without effective, efficient and streamlined processes in place, this will prove somewhat challenging.

This is where a Customer Relationship Management or CRM solution can help. Now used by 91% of businesses with over 10 employees, CRMs provide a centralised, cloud-based system that enables team members to access or input new customer data any time, any place.

A good CRM, however, is far more than a digital storage solution. It is one that drives growth, supports sales and saves costs in customer engagement and service delivery. That said, what are the key ‘outcomes’ business leaders can expect from investing in a CRM and why will an effective CRM solution prove valuable for business recovery post COVID-19?

Automation

Many businesses, particularly those operating in industries like Construction, will rely on archaic methods for the management of sales, such as excel spreadsheets shared via email or Google Docs. As a result, a vast amount of time will be wasted on lengthy and unnecessary admin tasks, team members will find it challenging to collaborate effectively and any initial sales process will be slow and ineffective.

A good CRM solution will not only save time, cost and resource by improving alignment between relevant team members, but will also enable automation of fundamental processes like the preparation of quotes and proposals. Often, speed is of the essence during the initial sales process, so automating initial contact will enable the business to reach and engage with an unlimited number of potential clients, which will be key for survival and growth post COVID-19.

Business Growth

Philip Mayling

According to stats, the businesses that leverage CRM software experience both an increase in sales process productivity, but also in sales conversions; something businesses UK wide will benefit from during the post-COVID recession.

Aside from providing the opportunity to implement effective sales processes, CRM solutions can dramatically increase conversion rates by automating the ‘admin’ tasks to allow sales reps to focus on closing deals and building new, long-term working relationships.

In addition, with sophisticated reporting and the opportunity to monitor staff output and resulting sales performance, CRM solutions drive accountability by ensuring staff members work towards consistent sales objectives, with each stage of the sales cycle documented to showcase success rates.

Customer Loyalty

With increased pressure on the economy, businesses cannot afford to lose customers to their closest competitors. As a result, the businesses that maintain and develop their customer base will be those who will survive and succeed long-term.

All too often, customers are cast aside and not delivered the same level of service when they transition from ‘new’ to ‘existing’. An effective CRM solution helps business owners overcome this challenge by documenting all correspondence with existing customers, therefore showcasing those regularly interacted with vs those ‘forgotten’.

When business owners select the right solution for their needs and utilise it correctly, a CRM is an invaluable tool for increasing customer loyalty and retention, enabling businesses to build strong foundations and continued growth.

Ultimately, the right CRM solution will enable businesses to implement, manage and execute a clear sales strategy, from initial contact through to ongoing customer relationship management post-conversion.

As we face challenging times, business leaders need to work on striking this balance between engaging with and converting new customers, whilst retaining them for as long as possible. It certainly doesn’t sound like rocket science, but without the right CRM solution it will be much harder to implement, sustain and get right for the long-term.