Guest Post by Danine Midura
Oh boy, here we go again. Another article hyping the benefits of CRM.
“It optimizes your marketing strategies.”
“It streamlines your invoicing.”
“It helps you track and report on data.”
These arguments—while valid—speak to the positives of CRM and CRM software. But, what are the impacts of not having them?
It’s time for some real talk.
The hard truth is that CRM has reached a turning point in its evolution. Concepts like automation, AI, and analytics are more than just buzzwords. They are the reality of doing business in 2020; and CRM companies have recognized the demand.
Whether it’s Salesforce’s Einstein AI tool, or Creatio’s purpose-built low-code platform, CRMs are transforming into a whole new animal — a powerful animal. With the features today’s solutions can offer, it’s becoming easier than ever for the CRM-haves to overtake the CRM have-nots.
Don’t believe me? Here are four reasons you’ll be doomed in 2020 without a CRM.
Doomsday Scenario #1: Your Competitor is Doing It Faster
Low-code software offers a development platform where both seasoned IT staff and layman’s users can create apps, processes, and features with little to no coding experience in real-time. Low-code platforms often use a drag-and-drop functionality and automatic code generation to simplify and streamline the development process.
Many CRM solutions are already offering this feature, most notably the CRM up-and-comer, Creatio. Creatio founded its CRM on low-code, and it’s already been recognized in the Forrester Wave, Gartner’s Magic Quadrant, and Nucleus Research. Several other major CRM companies are now following suit to this trend.
What does that mean for you?
If your competitors are using a low-code solution, they can output deliverables faster (in days instead of weeks or months). In addition, their citizen developers (a.k.a. the non-technical users) can contribute to processes and application builds in their own ways, optimizing their individual job performance and streamlining the automation of tasks.
Low code development is continuous and cyclical, which makes development and deployment faster. [source: Mendix.com]
Doomsday Scenario #2: Your Customers Are Waiting Too Long
Mobile and social CRMs have gained significant momentum in recent years, mostly due to the overall prevalence of social media in how we communicate. Nearly all major CRM systems offer mobile apps and integrations with Facebook, Twitter, and LinkedIn. Customer communication features are now a standard in our CRM systems.
The reason these tools have significance is because they speak to the expectations of today’s consumer. Customers in 2020 expect you to know about them, to anticipate their needs, and to quickly respond to their requests.
Research suggests that 79% of customers prefer live chat as their main point of contact with a company, and they expect a response to their chat within 48 seconds. In addition, 85% of Facebook users and 64% of Twitter users expect a response within one hour.
This adds another layer to the customer’s experience. If a business does not have visibility into social channels, and the customer is waiting too long for a response, the relationship could suffer. In addition, if previous social interactions are not recorded, and the company is caught unaware, it reflects poorly on the customer experience.
[source: Neil Patel]
Doomsday Scenario #3: Your Lack of Automation is Weakening Productivity
Utilizing AI-powered chatbots for customer service issues, engaging new prospects with drip campaigns, and automatically assigning leads to sales reps—these are just three of the many ways you can use CRM automation.
Streamlining complex tasks and cutting down on repetitive work have major benefits to productivity. They allow employees in all departments to expend their energy on larger, long-term goals instead of wasting time with menial day-to-day sales processes.
Sales professionals without automation are spending 17% of their day doing manual data entry. That time could be better spent, especially when it already takes an average of 18 calls to connect with the buyer in the first place!
Companies with effective sales organizations are 81% more likely to be actively using a CRM. Why? Because the system increases productivity through its sales enablement tools, process automation capabilities, reporting functions, and project management features.
The bottom line is, if you’re not automating, you’re getting left behind. CRM represents the biggest software market in the world, and with 91% of companies with more than 11 employees using it, the automation clock is ticking.
Doomsday Scenario #4: Your Young Talent is Leaving You
Did you know that Millennials represent the largest segment of the U.S. workforce right now? By 2030, they’ll make up 75% of it.
The young workforce is fluent in technology, and they understand the significance of CRM. In fact, 28% of millennials in a 2018 LinkedIn report cited CRM as “extremely critical” to their success. As this generation gains influence and purchasing power, the push for a tech-centric workplace will peak.
Now is the time to start incorporating those technologies to not only attract the young workforce, but also keep them long term. Millennials are not averse to changing jobs when a company doesn’t fit their standards. Those standards have to do with maximizing efficiencies while minimizing repetitive work.
They value these resources to optimize their job performance, maintain work-life balance, and breed innovation. And, they thrive in an environment where they can make the most of their skills and bring true value to their organization. CRM and other business technologies help them do that.
CRM software is driving the way we work and what we’re able to deliver. It aids businesses in automating tasks, keeping up with customer demand and interaction, maximizing productivity, and so much more. Don’t doom your business with outdated practices and manual processes. Now is the time to innovate and think ahead. Your competition already is…
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