As global businesses continue to expand, the significance of customer relationship management (CRM) software becomes increasingly evident. 57% of businesses consider CRMs to be the most valuable software.
CRM software helps businesses manage communications with prospects and customers, simplify sales and marketing efforts, and improve customer satisfaction. Hence, it is no longer a mere contact management tool. Market experts expect the CRM market to reach USD 157.53 billion by 2030.
But how do you determine which features to prioritize for selecting the top CRM software? After all, these features can define what the software can do for your business to reach the highest potential.
Let’s explore the essential features of the best CRM software to take your business forward.
Essential CRM Features to Achieve Sustainable Business Growth
The prospects of a CRM system are endless, as it centralizes your inbound leads and inquiries. A study shows that for every $1 you invest in CRM, you get more than $8 in revenue. However, only a deep understanding of CRM features can assist in identifying the best solution for you. It also facilitates custom CRM software development for maximum output.
Here are some must-have CRM features that can pave your path toward success:
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Smooth Workflow Automation
Workflow automation enables businesses to make processes easier, as it helps you work smartly and reduce manual work at large. As a result, businesses can increase productivity and spend more time improving strategies.
Statistics reveal that 50% of business leaders aim to automate more repetitive tasks. Further, 48% of organizations are implementing process automation solutions to manage manual tasks better.
Automation in CRM software empowers teams to remain at the top of their game. They can set up alerts and track leads in their sales journey using automation functionality.
Additionally, a cloud-based CRM automatically keeps a tab on interactions and records them in the centralized database. This helps salespeople to understand the lead stages and get a 360° view of the sales process.
With the cloud-based CRM, you can streamline the sales process. It facilitates smooth sales process management, order processing and tracking, stock management, customer service management, query management, and more.
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Facilitating Contact Management
Contact management is the core function of any CRM software. It allows businesses to store and organize customer information, track interactions, and manage customer relationships effectively.
A robust contact management system enables businesses to keep track of crucial client details. Businesses can thus readily access contact information, purchase history, and communication preferences.
Further, businesses can use CRMs to identify gaps in their customer service and offer solutions. CRMs help resolve customer issues more quickly and personalize customer interactions.
You can use a CRM system with capable contact management features to follow up on customer’s interests with personalized recommendations or offers.
Effective contact management is indispensable in building healthy customer relationships and boosting brand loyalty.
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Customer Analytics for Effective Decision-Making
The customer analytics feature enables businesses to analyze customer data and gain insights into customer behavior, identify trends, and segment customers based on common characteristics.
Once you understand how a customer behaves, you can make data-driven decisions. It leads to improved customer experience, increased loyalty, and drives business growth. A survey found that extensive use of customer analytics enables companies to reap 115% higher ROI and 93% higher profits.
CRM’s analytics features can elevate your business, as it helps:
- Generate reports that show customer activity.
- Identify and address pain points with personalized communication.
- Create tailored experiences that meet customers’ unique needs.
The CRM system provides information about customers most likely to buy and suggests personalized products and offers. In short, CRM’s customer analytics feature goes beyond helping make smart decisions. It also has a huge impact on your business’s bottom line.
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Third-Party Integrations
Third-party integration is an effective way to scale the CRM software’s functionality. It further eliminates the necessity to switch between CRM and other programs. These integrations allow businesses to reduce manual data entry, increasing productivity and reducing errors.
Fragmented CRMs force departments to maintain independent data, which disrupts workflows and negatively impacts organizations’ digital transformation initiatives.
The third-party integration feature helps eliminate these issues and streamline processes. The most common integrations businesses prefer are email clients, chat or messaging software, scheduling apps (calendar), and social media platforms.
While searching for CRM that supports integrations, make sure
- The integrations are easy to install and launch company-wide
- It offers support for sales, marketing, and customer service processes
- APIs are discoverable and accessible through self-service
- It includes a library of support material
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Pipeline Management (SLAs)
63% of leaders express dissatisfaction with how their companies manage sales pipelines. This is where the pipeline management feature in CRM can prove to be a game-changer. Pipeline management offers a crucial roadmap for businesses to navigate the complexities of sales forecasting.
It allows companies to track and manage the sales funnel easily. They can also implement service level agreements (SLAs) within the CRM to ensure deals progress smoothly. The pipeline and contact management functionalities work together to balance aggressive sales and marketing efforts to meet customers’ expectations.
As a result, each customer feels valued instead of overwhelmed with offers. It enhances the overall customer experience and boosts sales.
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Improved Mobile Accessibility
Thinking of mobile accessibility as secondary puts organizations at risk of negative or even unusable experiences. Statistics show that 61% of people abandon an inaccessible mobile site and never return. The same is true for organizations looking for top CRM software.
There is no doubt that mobile accessibility is a standout feature in CRMs. Another report suggests that 90% of consumers use their smartphones to engage with businesses.
Moreover, with the rise of remote work and mobile devices, businesses must have a CRM system accessible on the go. Mobile accessibility-optimized CRM software allows businesses to enhance their customer experience significantly.
Final Thoughts
CRMs can help you achieve business goals and improve your bottom line. Whether you manage or own a business looking to improve efficiency across different areas, a CRM with powerful capabilities can make a real difference. Hence, choosing a system that aligns with unique business needs and goals is essential.
Beyond cost, ease of use, and scalability, it should support seamless integration to enable businesses to streamline their workflows and boost productivity. Further, it must also handle relationships with customers through mobile devices on the move.
Once you know what functionality to look for in CRM software, you can approach custom CRM software development companies and unlock your business’s full potential.
