A Customer Relationship Management (CRM) system allows a company to put the customer at the heart of a business and is arguably the one most important software system that a business can acquire.
It will, through its ability to aggregate data and then slice and dice the data in relevant ways, present a detailed Single Customer View that will then open up marketing opportunities and overall increase sales. Think Amazon marketing emails – “You bought this book you might be interested in these also”.
However, for a new business looking to launch, one would think it would not be the highest priority as a piece of software. This is far from the truth.
Key aspects of any business launch include a marketing analysis, a competitor analysis, supplier and distributor analysis (more important for manufacturing than service industries) and the ability to formulate your businesses USP (Unique Selling Points).
The opportunity: launch a new business with CRM
As the cost of CRM systems have tumbled over the last ten years so the accessibility to even small businesses has risen. This coupled with increased ease of use (many systems can be used initially on the cloud and so do not need installation) means that all businesses that are launching and wish to properly examine the data that will be the foundation of their future marketing and sales activities can do so.
By careful use such tools as online surveys, buzz meetings with potential customers, product development meetings etc. data can be collected. With a CRM system in place the analysis of this data becomes much simplified and in fact the quality of the reports coming out will be significantly improved to allow the new business to make the right decisions about its marketing and sales strategy.
This is particularly true of new businesses that are seeking investment and need to write a business plan. Whether it is for a bank or an investment angel or even for a grant from government, business plans are data driven and the quality of that data is paramount.
So, in summary the answer is a strong yes – it’s perfectly possible to launch a new business with CRM. Even the smallest businesses planning to launch can benefit greatly from a CRM system and in fact not using one today will put you behind the pack.
If you want to increase your new venture’s chances by generating more better qualified leads, try target360 today and see how it can transform you customer relationships. Sign up for free trial here or request a demo and we’ll be in touch shortly to welcome you on board.