The CRM market is not going to slow doing any soon. Today, it is considered one of the most growing markets in the world reaching a revenue of more than $80 billion by 2025. Among all, one of the key factors to take into consideration the growth of CRM corresponds to accessibility. Startups or any size of business want to get quick and convenient access to real-time customer data. Amid this, mobile and cloud-based solutions are paving the road for businesses and help startups grow at an unprecedented faster pace.
Customer Relationship Management (CRM) software incorporates enrich features that give hands to young startups and streamline the way they used to work. For instance, from customer service to personalization and email marketing to sales management, startups now want to connect each module and platform with customer data. The startups have identified the significance of customer service and how customized solutions can provide a more personalized experience to the customers.
Read: Zoho CRM for Small Business – Challenges, Solution & Implementation Strategy
Startup Growth 2020 – The New Normal
The year 2020 has been a plethora of challenges for young startups. The COVID-19 crisis restricted the growth of businesses and the lockdown situation all over the world was the one most potential challenge for startups. However, amidst the hard times, CRM software appeared to be a rock in the storm. The enhanced capabilities and features of the CRM system incorporate high-end decisions that streamline the path of success for startups.
To make it more clear, today, the customer expectations are sky rising. Customers demand personalized solutions. To provide a tailored solution specific to their needs, startups are focusing on strengthening the customer support and service module. The COVID-19 outbreak accelerated this challenge due to all remote collaborations and communication needs. The startups required to immediately ensure remote infrastructure totally operational so that the customer service could remain unaffected.
The challenge thus could be mitigated by consolidating all the customer real-time data in one place. The data could be gathered from emails, contact forms, marketing campaigns, social media channels, etc. If a 360-degree view of all customer data consolidated in one place could be attained, it would be convenient for startups to make effective decisions while providing highly tailored solutions to their customers.
Read More: 12 Amazing GTM Strategies for Small Businesses
How CRM Accelerated Startup Growth in 2020?
CRM software addresses the needs of startups by organizing the contacts and their details in a highly arranged manner. Using that data, reports can be generated that give valuable insights to startups about customer traffic, sources, revenue estimations, and many other driving points that help determine the factors influencing sales. CRM makes processes less cumbersome and saves both time and additional resources for manual task management.
Below are some benefits of using CRM for startups in 2020.
- The CRM design is intuitive enough to encapsulate the features required for startups to grow. The simple interface of CRM software makes data and task management a highly convenient process.
- The UX design of CRM is highly compatible with the information used by startups. This makes the use of CRM easy for the whole team.
- The CRM incorporates features such as sales forecasting, automation, and marketing.
- It could be customized according to the features required by a startup.
- The sales funnel and pipeline could be managed efficiently by gathering all customer data in one place.
- CRM manages the department of customer support seamlessly by addressing customer concerns and queries without any delay.
- The pricing plans and budget management could be easily incorporated into the CRM software.
- The customer data, details, plans, and accounts related tasks could be managed in a single interface.
- Effective decision making through AI-enabled data analytics help startups invest smartly into various modules, their improvements, and marketing needs.
- Useful apps and third-party tool integration help startups scale-up the business and extend its scope to support additional functions.
For these reasons, the adoption of CRM software has become a pre-requisite for any startup. As discussed earlier, the COVID-19 crisis has declined the sales of even huge enterprises. In the hard hour, the need however is to employ smart strategies that keep investment secure and grab potential customers to strengthen the clientele-base.
Also Read: What are the Advantages of CRM for your Business?
The Fourth Industrial Revolution – CRM for Startups
The exceptional technologies and innovative solutions are grooving practically in industries. Cloud-based services and solutions for startups and businesses are counted as the fourth industrial revolution that tends to play a critical role in establishing a firm foundation of startup and expand its infrastructure into a strong and scalable business. Advanced CRM software is among those high-scale business solutions that are revamping the framework by employing optimized techniques and dynamic business strategies.
Customers are the ultimate focus of any business. Thus, managing relationships with both old and new customers should be the first priority of any business. CRM software revolutionizes the landscape of startups by enhancing the capabilities and features of the system in an efficient manner.
The year 2020 wraps up the CRM revolution for startups to start with the managed working infrastructure and boost up the sales. In 2008, only 12% of businesses used cloud-based CRM which today has increased from 15% in 2010 to 97% in 2020.
The Bottom Line
In the growth of startups, the year 2020 highlights the central role of CRM software that does not only streamlines the road to success but gives wings to startup sales. In hard situations, the CRM platform ensures significant growth and ultimately has been a trend of 2020 that strengthens the business foundation through smart predictions and decision capabilities.
