5 Reasons You May Need To Upgrade Your Company’s CRM

To keep the business growing, companies often rely heavily on their clientele.

Whether you manage a B2B or B2C business, maintaining a healthy relationship with your clients and customers is vital to your company’s growth. And the CRM your organization uses can largely impact this relationship.

For this reason, companies are often advised to evaluate their existing CRM’s performance and decide whether it needs an upgrade or not.

If your business has lately been struggling with client retention and relationship management, this blog is for you. Here we are discussing five reasons why your CRM may need an upgrade. So, buckle up, and let’s get started.

1. Limited Functionality

When a business invests in a CRM, they expect it to perform several functions that streamline its relationship operations and help keep the clients happy and satisfied.

However, these expectations may not always be met.

As your business grows, the need for a better and more functional CRM may also crop up. Some of the key CRM features that a growing business needs are: automation, custom reporting, integration with other business tools, and mobile accessibility.

By upgrading to robust CRM solutions such as Method, Jobber, and Insightly, businesses can avail of these features. However, to make the right choice, we advise organizations to go through this comparison of popular CRMs.

2. Scalability

The CRM that you choose for your business should be supportive while scaling.

As your business and clientele grow in size, the CRM’s roles and responsibilities will also increase. If your CRM is currently struggling to handle your growing customer base and data volume, it’s a clear indication that it needs an upgrade.

Top CRM software can offer unmatched scalability features, which may also be customizable depending on your business’s specific needs. Edit to: Top CRM software can offer unmatched scalability features, which may also be customizable depending on your business’s specific needs. An example would be loan officers, they use Mortgage CRMs to manage their time by automating repetitive and mundane operations and maintaining active communication through voice calls, live chat, and video calls.

With these solutions, one can accommodate an increasing number of users, contacts, and records, getting the most out of their CRM investment.

3. Lack Of Synchronization Features

In today’s digital age, businesses operate on a number of tools and software that work hand-in-hand to produce desirable results.

To make this a successful coalition, all the tools need to have certain integration capabilities that allow easy synchronization across the board. However, not every software has such flexible features. If your CRM lacks essential integration options, you may need an upgrade.

Some of the most important tools that need seamless integration are email marketing platforms, project management software, and accounting systems.

As your business looks for a new CRM, make sure it’s integrable with the essential software that your company uses.

4. Inaccuracies In Analytics And Reporting

Over the last decade, the need for accurate data analytics and reporting has grown dramatically, and to match up with the competition, companies need to optimize their data analytics and reporting systems.

However, this can be challenging with an inadequate CRM.

If your CRM falls short in providing robust analytics and reporting data, it may be holding your business back.

By upgrading to a more advanced CRM, you can access comprehensive analytics and reporting tools, customizable dashboards, and other useful features that help you make informed decisions that encourage business growth.

Additionally, integrating your CRM with useful tools, such as Bookafy, can help optimize your business processes.

5. Inefficient User Interface And User Experience

Investing in a fully functional CRM tool is important for maintaining customer relationships. However, it’s also crucial to ensure that the tool has an efficient UI and UX that’s easy to access.

If your current CRM has an outdated interface or lacks user-friendly features, it may hinder your team’s productivity and adoption of the system.

In such cases, adopting a modern CRM with a smooth UI will be a good idea.

Upgrading your CRM can be a great way to improve your customer service, win more deals, and grow your business. It is important to compare features and pricing before making a decision, but there are a number of different CRMs in the market that can help you achieve your business goals.

Benefits Of Upgrading Your Company’s CRM

• Improved Customer Satisfaction

A study by Bain & Company found that a 5% increase in customer satisfaction can lead to a 25% increase in profits. Satisfied customers are more likely to stay loyal and refer your business to others.

With the help of a CRM system, you can track all of your customer interactions in real time, from sales calls to support tickets. This information can be used to identify trends and patterns in customer behavior and offer personalized solutions. For example, you can see which customers are most likely to churn or which customers are more likely to upgrade their products to services.

Additionally, a CRM can store all your customer information about preferences, past purchases, and interactions with your company. This can be used to create targeted email and marketing campaigns. 

• Increased Sales

A CRM system can help track all sales opportunities, from initial lead to closed deal. By managing your sales pipeline, you can track each of your opportunities and identify any potential roadblocks. With a CRM, you can also automate tasks and personalize sales pitches. This can be useful to adjust your sales strategy and ensure you are on track to meet your sales goals. 

• Reduced Costs

A CRM system can help automate tasks and streamline your sales and marketing processes and can lead to reduced costs and increased efficiency. CRM minimizes paperwork, saving time and printing expenses while simplifying document storage. 

Improved accuracy of data because of a CRM system results in reduced errors such as sending out incorrect communication or scheduling appointments wrongly. By identifying the necessary skills and experience required for your team, the CRM system streamlines candidate selection, thus making it easier to hire the right fit and optimize hiring expenditures. 

• Improved Decision-Making

A CRM system with predictive analytics can help businesses anticipate the needs of their customers because predictive analytics can analyze historical data to identify patterns and trends. This information can be used to make better decisions about where to allocate your resources, how to target your marketing campaigns, and how to price products and services.

In a data-driven era, businesses that have access to data and insights have a competitive advantage. 

• Better Integration

A newer CRM system may be better integrated with other systems in your business, such as accounting software, marketing automation platform, and e-commerce platform.

When data is automatically synced between systems, it reduces the risk of errors as you no longer have to manually enter data. For example, you can track your customer purchase data using the CRM system, and it will automatically sync with your accounting software.

This can help you track your sales revenue and expenses more accurately. It also gives a more holistic view of the business. 

Wrapping Up

For one reason or another, an incompetent CRM can weigh down your company’s growth. Fortunately, it’s not impossible to overcome this concern. This blog discussed a few pointers that can help you decide whether your business needs a new CRM.