4 Reasons Why CRM is Your Company's Most Valuable Asset

By Lauren Fenthum 

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The most valuable asset to a business is… depending on the industry some may answer; location, new products or partnerships, employees or even the brand itself. The one thing all of these answers have in common is that they are all aimed towards getting new customers. Customers are the most valuable assets to a business, however, most customers feel neglected by their suppliers. Many companies are still using spreadsheets to store customer data. Spreadsheets are becoming outdated, and they carry the risk of falling into the wrong hands. A customer database increases in value when everyone works together on populating it with data.

                                                                              It allows you to register your leads and contacts: 

It is never too late to start organizing your customers and contacts into basic categories to make your data efficient. Some examples of categories are: Customers, Lost Customers, Prospects, Suppliers, Partners, Potential Partners, Influencers and Inactive customers. By implementing this strategy you are one step closer to getting rid of those complex spreadsheets!

                                                          You can track all your customer interactions- from everyone in your company: 

Next time you need to talk to a customer or prospect, you get the upper hand because you know what has been spoken about. This creates the impression that the client is important, and could lead to a long-term relationship. To achieve this, emails should be in your CRM system and not in each person’s mailbox.

                                                                                                                                                         Reveals possibilities: 

How many prospects are still in the “not sold to yet” category? Most likely quite a bit. Sometimes a “no” simply means “not today.” Most companies keep their current supplier until they are ignored, that is why it is so important to have an active and efficient CRM system. This along with an effective email marketing strategy could guarantee that their business is yours for the next quarter.

                                                                                                                     It makes your most valuable asset- the customer data- stay safe:

When your staff members change jobs, there should be no reason for the system to fall through, and to have to start from the beginning when retaining customer information.  A CRM system can ensure that the sales pipeline stays up to date, contacts are updated and registered. Meaning that even when someone leaves, you are able to access all the relevant information without having any hiccups along the way.

Without a CRM system, it becomes difficult to focus on the customer. Companies who have invested in a CRM system are using it as a way to value their customers and put them at the centre of the business. By doing this, companies are able to increase their sales and profits because they have a better relationship with their clients.  CRM has become software that is no longer optional, but instead a necessity for your business. Are you currently using a CRM system to manage your contacts and customer data? If you’re looking to get started with a CRM system, try out BluWave for our FREE 14-day trial.