33.4 C
Singapore
Monday, November 30, 2020
Home Business 3 Simple Reasons Every Business Requires CRM

3 Simple Reasons Every Business Requires CRM

If your business relies on customers for sales and revenue, a CRM system can become your gold mine.

CRM stands for customer relationship management. A good CRM system is an essential tool to support the sales success of sales leaders, sales managers, and sales people.

Driven by rapid technology developments, modern CRM solutions are today offering businesses with software that is easy to use and accessible across all smart devices, from the computer desktop, to computer notebooks, tablets and mobile devices. Data is securely stored on cloud systesm and there isn’t the need to hire an in-house team to maintain software servers.

There are many reasons for businesses to use a CRM system and enforce the usage of the CRM system across the sales, marketing and customer service functions.

Today we focus on 3 simple reasons every business requires CRM, targeted at a sales perspective.

Efficient Lead Management

CRM system allows businesses to organise and assign leads efficiently across the sales team. Salespeople know what, who and when to follow up with customers and no customer gets missed out. It is also easy to for sales managers to oversee the progress of leads and provide support wherever necessary. When required to re-assign leads, if a certain salesperson is overloaded or sees that certain deals can be managed better another salesperson, it only takes a few clicks and a new salesperson can be assigned to take over a lead with full information.

Know your Customer

Trust is a key component binding the relationship between salespeople and customers. It is a matter of sincerity that salespeople remember information that customers share with them so that customers do not need to repeat themselves.

Salespeople interact with customers through different channels and it is important for all interaction to be summarized in a CRM system; so that they can always be traced back.

Laser-focused Sales Promotions

From the data that a business has collected on customers, it is possible to craft promotions and offers tailored to the customer’s current and potential future needs. This helps businesses and salespeople capture the market better and earlier; and customers are also better taken care of.


As I began earlier, CRM is a gold mine. At times of good economy, the data in the CRM can help you sell more. At times of bad economy, the data in the CRM can become the businesses’ lifeline, helping to uncover missed opportunities and hopefully convert them to actual deals.

Most Popular

Sony’s PS5 was Launched and Sold Out Online amid COVID-19

On Thursday, Sony Corp launched its newest PlayStation 5 (PS5) console online in the hope to maintain social distancing. Due to the COVID-19 pandemic,...

Forrest Li, Founder of e-Commerce Platform Shopee named Businessman of the Year

On Tuesday (Nov 24), Mr. Forrest Li, the billionaire founder and group chief executive of tech giant company called Sea, who owns e-Commerce platform...

Nov 2020 Update: Singapore Business Outlook amid COVID-19

Despite the uncertainties brought by the COVID-19 pandemic, three-quarters of Singaporean business owners remain discouraged and optimistic, continuously looking forward to what’s ahead of...

Singapore Revises 2020 Outlook As the Economy Shrinks in the 3rd Quarter amid COVID-19

According to the Ministry of Trade and Industry (MTI) on Monday (Nov 23), Singapore’s economy is expected to shrink between 6% to 6.5%. It...