Most if not all businesses start with an idea where it then builds processes to generate leads and eventually make a sale. In reality there is so much to that which we will be getting into.
Start it up
Each year, thousands of entrepreneurs start a business. A large number of these startups are home-based businesses that account for 69 percent. Data reveals that, of the businesses started in 2014, 80 percent made it to year 2; 70 percent reached year 3; 62 percent got to year 4; and more than half (52%) survived to year 5. Basing on the data, there is a 44 percent startup failure rate. But the good thing is, more than half make it through the fifth year.
Let it ride
Congratulations! You made through year 5. So, what now? This may be the right time to re-evaluate your customer relations. Do not get complacent, especially with your current client roster. Find ways to generate new leads and expand your business. If you have a growing business and have yet to deploy a CRM system, now is the perfect time to do so. Here is why.
SME’s should deploy some sort of CRM system if just for these reasons:
- Improved Client Relationships. Your business is built on customers, and the more you know about them, the better for your business and the more important your clients feel.
- Better Service. A synchronized client database means that every agent in your pool has access to all the pertinent information. Companies become more efficient in servicing their clients because of this.
- Increased profitability. When utilized correctly, CRM systems increase productivity by improving sales cycles and processes. This will naturally result in increased revenue as sales people can make more sales with the shorter sales cycle.
- Cost savings. Your agents can be more efficient in creating meeting schedules, as there is more information readily available to plot an efficient itinerary. Efficiency also results in more time for more sales related activities, thus lowering the cost per client sale or acquisition.
Being apprehensive of the cost implications is no longer an excuse to deploy a quality CRM solution. There are many decent, cost-efficient solutions that would fit your organization.
Hubspot offers a CRM solution that is 100% free – forever. Robust and full-featured, Hubspot enables you to instantly view of your entire sales funnel on a clean, visual dashboard. It also automatically logs your sales activity like emails, calls and social media interactions. Keep everything organized in a timeline that stores your emails, meeting notes and calls. It’s easy to deploy and it doesn’t cost a cent, so there is nothing to lose and virtually a ton to gain. And as your business grows, more and more options are available to you like data entry services and voice enabled solutions. Hubspot together with its partners can sure be swiss knife in your toolbox.
Starting a business is hard, but staying the course and seeing it through is harder. Having the right tools at your disposal will greatly increase your chances at making it to the next round and with a little imagination and a lot of hard work, who knows; your brand could become the next big thing.