Does My Small Business Need a CRM?

In the extremely competitive business environment, larger businesses may appear to have a competitive advantage in terms of financial capital and access to more resources than smaller firms. However, as a small business, your organization still holds an added advantage over larger businesses. What makes them stand out in the crowd is their ability to provide customizable, personable and unique customer service support to your current and prospective client base.

Customer Relationship Management or CRM is a type of software that allows your business to record and display customer data, information, and analytics meticulously and efficiently. So, logically, it’s an enormously popular tool. For this reason, about 91% of businesses with ten employees or more use CRM software to manage customer data and relationships. Read more

What does a CRM Manager do?

In a world where customers rule the growth narrative of a business, every company needs a person who can understand, satisfy, placate and engage the clients efficiently. Understanding every client’s value and allocating adequate resources to each customer is also a crucial part of client management. This is why CRM Managers are indisputably becoming a crucial part of upper management business layers.

A CRM Manager is responsible for maintaining customers’ relationships with the organization. Their job is to ensure enhanced client satisfaction, conceptualizing customer retention campaigns, overseeing and assisting the marketing teams with lead management and setting feedback channels. They manage CRM platforms that have been found to boost conversion rates by as much as 300%. CRM Managers often use CRM solutions to carry out these subjective tasks and execute multiple strategies every day. Read more

What is cross-selling and up-selling?

The most fundamental tenet of human behaviour is unending desires. This serves as the biggest strength of a business. As and when new needs emerge, new sales opportunities arise. All the right salesperson has to do is identify these evolving client desires and mould the sales strategy according to them.

The customization of sales processes takes two popular forms: cross-selling and up-selling. While cross-selling dominates the selling patterns of the most successful eCommerce giants contributing to a total of 35% of Amazon revenues, up-selling has been found to increase revenue by as much as 30%.

Cross-selling and up-selling are the methods of increasing customer value by selling them more products in connection to existing products. Cross-selling occurs when you sell the customer pieces that complement their choice items, while up-selling occurs when you convince customers to buy a newer or better version of the product they are looking for. Read more

What is customer retention?

Every company wants to grow, and an important aspect of business growth is customer retention. Just a 5% boost in customer retention can increase a company’s profits by 25% to 95%. With such high returns of investment, it is no wonder that companies are investing in the best customer retention tools and strategies they can find.

Customer retention, by definition, refers to how much power a company has over retaining its customers, i.e. making the customers come back to do business with it. A company with a high customer retention rate continues to grow and get bigger as they take in more customers. Read more

What Does Omnichannel Mean?

With 90% of retail customers expecting to communicate with businesses consistently across channels, using a cross channel approach can help your business reach a level of convenience that customers not only crave but expect. And the technology that enables this cross-platform integration is omnichannel.

Omnichannel is a retail marketing strategy that integrates several different traditional and modern channels, including online platforms and websites, social media, mobile devices, and in-store channels. This approach can help provide a seamless customer experience by focusing on their overall journey at once, instead of focusing on each channel separately. It links all of your customer’s different commerce and retail channels so that you can provide a better experience for your customer and strengthen your client relationships. Read more

What are price books?

With globalization reigning over the business world, companies have started expanding their reach internationally. But this market diversification has led to many production and distribution challenges. The cost of selling is not the same across the globe, nor is it the same for different sectors. To tackle these challenges, price books are used.

Price books is a system that allows companies to sell different products to various types of customers. This means that you will have different prices for different continents, countries and sectors. The system is extremely relevant and is used by many leading MNCs. 26% of total businesses consider the competition or the market when setting their prices. Read more

How Do You Manage Tasks?

Building and managing a business empire is extremely challenging. Lack of direction and ineffective allocation of tasks can threaten an enterprise’s status. 75% of the companies fail within the first 18 months of establishment. All it takes is one oversight, one clerical error, or one operational mistake to jeopardise a project. This is why, in the time-specific corporate world, task management is a crucial practice.

Task-management is a process used by managers to start, execute and complete a task through its lifecycle successfully. It helps teams identify the tasks that need to be done, set deadlines for their completion, and assign them to the various departments and team members. Tasks concerning sales, resource-allocation and operations require extreme scrutiny, detailed descriptions and in most cases, an automated workflow to support managers. Read more

Meaning of CRM

In today’s competitive market, it is vital to provide your customers with an excellent and unparalleled user experience. Maintaining good customer relationships requires both man and technological power as recording, managing and utilising customer information effectively can be cumbersome if done manually. This is where CRM software come into play. The digital age calls for automation of office-processes and tracking and CRM software providers enable that in the customer-service sector.

CRM (Customer Relationship Management) is a type of software that allows for client data to be recorded and displayed methodically. It allows this valuable and critical information to be available across your organization. CRM software, a popular management tool is said to have an average ROI of $8.71 for every dollar invested. Read more

What is Sales Methodology?

Undoubtedly, sales is the fuel that keeps a business going, no matter how small or big it is. Every organization strives for a positive sales graph. The fact that businesses are spending over one trillion dollars annually on their sales forces, including sales support software, underlines its importance.

Therefore, it is a no-brainer that there is a need for impeccable sales plans to successfully stride ahead in this technology-driven corporate world. A digital solution like Crust’s open-source Salesforce Alternative can be a catalyst in attaining your business goals efficiently. It makes your sales methodology digitally sound and streamlines the sales process in an optimized manner.

But for that, you need to be clear about the basics of sales methodology and how it can help your organization. Ready to delve into it? Let’s go! Read more

What are outbound sales?

Contrary to popular belief, outbound sales have still not turned obsolete. 75% of executives say that they are willing to make an appointment or attend an event based on a cold call or email alone. Not every prospective customer realizes the need for a product until they find out that it exists.

Outbound sales are meant to create and meet demands. With an efficient database of prospects and smart automated workflows targeted to future customers, an open-source CRM solution can help you generate more outbound leads and eventually convert them into sales opportunities. A process in which a seller initiates customer engagement from its end, outbound sales are most popularly carried out via cold calls, meets, and email marketing. Read more