Your businesses most valuable asset - is it safe?
- by Urszula Richards
- 25 November 2009
Your client and supplier database is arguably the most valuable asset your business has. If you have ever tried to sell or buy a business, this database is one of the things which can add or detract significantly from its value. But how easily can you access and tap into the power of your hard won customers and leads. If you are like many small business owners, you may think you get by by using a simple address book attached to your email program.
Here are 5 ways you could ramp up your business with managing this resource more efficiently - with a customer relationship management system (CRM).
1. Exceptional Customer Service A CRM will keep track of all contacts you have had with a client, and what their particular preferences are, and can store any information you choose to include about how to serve your customers better. Can you easily locate any customer, supplier and lead? If you need to communicate with all, or a sub- group of your customers quickly, how long will it take for you to get this list together?
2. Increasing Sales through Targeted Communication Given that the quickest way of increasing sales is selling to your existing customers, it makes sense that your customer list is easily accessible and set up in a way that you can target your communications. Imagine how wonderful it would be to be able to email your clients who have purchased your Widget to let them know about the newest Widget Accessory. Or tell them about something extraordinary they can now do with the Widget. A well set up CRM can allow you to do this in moments.
How much money are you leaving on the table because you can't do this?
3. Capitalising on all networking contacts and leads
Do you have a pile of business cards which you have been meaning to follow up but now find you can't remember much about the or context you met the people? What do you do when an old lead from a year ago finally calls you, and you don't remember anything about them. A CRM will store any information you have entered about a prospect, so you can have instant recall when you most need it.
4. Replacing yourself!
Whether its for a short term emergency, replacing yourself so you can work on your business, or selling your business - a CRM is the only way of having a historical record of customer contacts where anyone coming in can see and take over from. A well designed CRM sets customised levels of permissions for various users, so you can still keep tight control of your information.
Finally, a CRM ensures you only need to do things once. Every contact is entered into your system and stays there until you remove it.
If you are interested in discussing more about Customer Relationship Management, or about our website platform which comes with CRM and email marketing built right into it, get in touch!
Where is your client data now?
What do you need to do next to organise your clients and leads?