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Startups today have become a major driving force for the economies around the globe; they not only contribute to the GDP but also decrease the unemployment ratio of the country. Millennials everywhere are changing work dynamics and do not prefer to sit behind their desk, but to follow their dreams and take risks. Such shift has also being witnessed in India, a country with a majority young workforce that has seen successful start-ups such as Shopclues, Limeroad, OLA cabs, Zomato, and many more. With a lot of venture capitalists funding and backing startups, it is no surprise that a lot of people want to taste the entrepreneurship fruit.
Only last year over $ 3.84 billion was raised by startups in the third quarter. Such rising opportunities have also caught the eyes of many people, resulting in top minds leaving their corporate jobs and following their dreams. It wasn’t long before the Indian government saw this dynamic shift and became keen to bring these startups to unleash their full potential, increase employment opportunity and eventually enhance the economy of the country. It was truly remarkable seeing the government put their best foot forward with the launch of initiatives such as “Start-up India” and “Make in India” to encourage and promote start-ups in the country.
To add more to it, Hon’ble prime minister of India has worked hard to raise the foreign investment too, bringing in investors to venture into the countries brightest startups. If that is not enough, even top names such as Google have their reward set for the best start up plan from the country. And its outcome being a rapid surge in the number of start-ups increasing every year with the current statistics showing more than 4000 startups in the nation.
With so much fuss over startup, an obvious question that pops up is what exactly makes a startup eligible to avail the benefits of the scheme? Which can be simply stated as one / few innovative minds putting up a unique business idea or development process in a form of a new business, aging below 5 years and a turnover not exceeding 25 crore rupees. The product should be innovative and commercial while adding value to the consumers. The said startup should be approved from the designated DIPP.
To sum up a startup under this ambitious scheme will enjoy;
- IT tax exemption for 3 years
- Easy availability of seed funding
- 80% return of patent fee
- Capital gain tax exemption and more
Since now there is a lot of focus on startups and even growing competition, the question arises: how can a startup keep itself ahead. The answer is simple: a business application platform to seamlessly integrate all processes and give greater control and visibility to the management.
CRM for Startups:
Now being compact in size, a startup can manage all the data and contacts on a spreadsheet easily in the start, however when the business grows, various process are incorporated as well as maintaining the clientele becomes a hectic chore and a proficient management of sales and customers becomes a priority. To add more burden to it, competitors keep multiplying every year, which makes retaining your customers as well as getting new ones even more tough. Thus, for efficacy and proficiency in business management, various start-ups opt in for smart business management suites like CRM.
But can CRM software solutions be helpful for startups?
Definitely yes, for a startup, building customers is among the top priorities and CRM software have their proficiency in managing and retaining customers with ease. However, its potential does not ends with it. A smart leader, who can mould out new ways of possibilities for the software, can take its usability to another level. Having said that, let us have a look at some of its cool features that have been proved helpful for the startups.
- Share information: When you have your teams working on different processes, sharing information amongst each other can be a tedious task and any missed data can cost you a valuable customer. Nevertheless, the CRM software can function as a platform wherein the team can share the information with ease and initiate further processes.
- Opportunity tracking: The saying goes as “Opportunity knocks only once” and CRM solution providers in India have made sure that you not only grab this opportunity but also nurture it until it starts giving you fruits of your hard work. Simply putting, CRM can help you find better leads and turn it into sales easily, which is something very crucial for any startup. Thus, with CRM, never miss any opportunity.
- Foresight: CRM for startups can generate precise sales reports on daily to yearly basis, this reports can give you a foresight of how much production is to be done and process marketing and sales strategies. It can also help you track team’s performance based on their areas of operation.
- Better and targeted marketing: CRM for startups can draw sales pipeline that can give information on how your marketing strategies is functioning, that can be filtered on location, products, etc. as well as analyse the requirements of the clients. Hence, it can aid you in evaluation of your marketing processes and target better prospects.
- Notification and reminders: CRM can automate all your notifications and reminders i.e.
- Sending notification to your customers related to any updates, offers, packages, etc.
- Sending reminders of upcoming deadline to submit data, pay bills, renewals, etc.
- Email and SMS follow up to leads and prospects that can be designed with its inbuilt template designer.
- It can also remind you for upcoming meeting, follow-ups, demo and implementation, etc.
The above-mentioned gestures can improve customer satisfaction with your start-up as well as bring in new customers. Hence, building up your start-up company in an efficient manner.
- Data storing: the modern day CRM software are provided with cloud server, which securely save all your data. For instance, for any mishap occurring in your company, the loss of data with others can be too much for a start-to bear. However, the data stored on the cloud are safe from any such mishaps; moreover, the encryption of your data can secure your data from online threats as well. In addition to it, these data can be made available on any device by multiple (and authorised) users irrespective of their location and time.
- Social Media: social media is a necessity for every company, no matter how big or small. The customers/ clients prefer following the company of their choice to get updates and stay connected to it. Moreover, social media can easily help you reach wide and better audience quickly in a cost effective manner, thus CRM software solutions like Social CRM now a days can be integrated to all your social accounts with ease, allowing you to track, monitor and stay connected to all your customers and prospects easily.
- Mobility: for a start-up, employing large number of employees can be taxing on their budget and you may be needed to multi task, which is not possible while sitting on a single workstation. The CRM software linked up with mobile apps and cloud servers can grant you the mobility to manage your sales and marketing process as well as manage customer complaints and feedbacks on the go.
To further continue with the list, the CRM software can increase sales, give better ROI, maintain transparency, help you set goals, and the list goes on with endless possibilities. A CRM software cannot only help you manage your start-up but also assist in every stage of its growth. Thus, a CRM software can not only help your startup, but also add wings to it to fly through the stars.
Guest Post by Kalpesh, Sage Software
Do you own a business and face the problem of customer communication? Are you unaware of your customers’ needs? Are your customer’s unhappy with your services? Are you unable to analyze the progress of your business? Then, to all such problems there is one and only one solution – the CRM Software.
In any business two things are very critical: customers and employees. The growth of any business depends majorly on the relationship between the customers and the vendors. When both are satisfied then we have a “win-win” situation as happier customers are more loyal and spend often. To achieve this goal the business should meet its customers’ expectations and deliver them the best services in every odd. Hence, to address the problems of dealing with customers in day-to-day basis the concept of CRM was introduced which is gaining popularity from past few years.
Customer Relationship Management abbreviated as CRM is not just a software or an application of technology rather it’s a unique approach to deeply know the customers’ needs and nature in order to effectively and efficiently develop a stronger relationship with them.
CRM: Business Point Of View
The CRM application is a supreme tool that helps to easily manage the business of any type – big or small, anywhere- home or office ,anytime- day or night and hence, it boosts the customer services. The increase in the sales efficiency can be seen after implementing the right CRM. Even, a CRM can enhance the productivity by 30%, if used correctly. The selection of a right CRM for your business matters a lot to manage your business. Now-a-days, there are lots of CRM options available in the market.
Thus, as a businessman your first step is to figure out which option will help you build a strong relationship base with your customers and gain you profit.
Points to consider when evaluating a CRM are:
– Ease of implementation
– What features are available out of the box
– What level of customization is required to meet my business requirements
– Cost Professional Services
– Ease of integrating with other back office systems
– what level of integration is available “out of the box” to my telephony system.
- Your Progress
The report system empowers you to analyze the progress of your business as well as your team.
- Know your Financial Status
Certain CRM packages, offer its users to track their cost of sales and other operating costs to calculate the net profit. Such feature is implemented via finance software in the systems and plays a vital role in tracking the development of small business.
CRM: Sales Agent Point Of View
There are many ways in which CRM helps you to nurture the customer relationships with the sales agents and some of them are discussed below:
- Organize your Business on tips
It is said that to achieve success easily you should have required resources. The same thing applies in the case of business too. The sale teams of any business – big or small can manage easily their business if they have the right tools to do the job.
The services offered by the CRM makes the task simple and effortless for the salesman or its team to efficiently organize their job of managing multiple clients or meeting big quotas.
Even you can track your own contacts, deals and leads using this technology and can share the info with your team members that helps to manage the customer’ needs even if their contact is not available on regular basis.
- Alert System
This functionality of a CRM software follow-up the salesperson with the data set for alert and helps you to do various important tasks on time like to timely meet the milestones, trigger a new activity, prepare presentations, go through a communication with a customer and many more.
Setting alerts makes you attentive, proactive and impresses your multiple customers with your punctual working style.
- Track the Important
CRM is a centralized system which helps you to manage your customer relationships by securely accessing as well as sharing your important information, correspondence, conversations, billing info or documents anywhere, anytime through your CRM based cloud benefits.
You can even have a look over the historical records of the customers which help you to deal with any specific customer more professionally.
- Get Social
Most enterprise CRM systems help the agents to be in touch with their customers via social media. Moreover, with CRM, agents can work together through chat or video conferences. CRM software offer agents a space to create and store templates for call scripts that have restricted accessibility to other employees.
Even, the service agents can go live with their customers through their website and mobile apps.
- Check where you stand
The reports attached with your CRM tool helps you to continuously measure your customer service performance as well as the customer activities so that you can easily figure out the needs of your clients and act accordingly to fulfill them.
After knowing deeply the benefits of CRM for different sectors let’s have a look on the ways in which CRM can help in improving Customer services.
- Social media
Generally, social media is used to mainly watch the activities of the customers which help to better learn about the customer choice. Encouraging the clients to link their lead generation and social media enables the clients conveniently log-in. For example, instead of submitting their name, phone, email address, etc. on a form on your web site, let the users just sign in with LinkedIn, Twitter, Google+, Facebook and others.
- Automated Customer Service
On adding a new customer to the CRM, automatically registering them in a Support System, sending them a “welcome to support” Email (with instructions on how to use it), adding them to the e-news mailing list, and notifying customer services to contact them after a specified period to see how they are getting on improves the customer services to a greater extent.
- Easy Adoption to system
To make the customers efficiently use the CRM system new gamification processes can be included in a customized CRM.
- Customer engagement
Customers always have a tendency to compare what they are getting is best or not it could be in terms of Price, Quality, Service and even the way there are being treated . So any function or process which can envisage the customers that they are getting the best deal or treatment from the market at optimal or lowest cost, and then nurturing that same relationship for highest profit or yield for as long as possible would make a difference to any Business.
- Customer Self-Service Approach
Usually, CRM systems offer portals that manage knowledge for the customer self-service. These portals allow the customers to access FAQ or troubleshooting articles without assistance of any agent.
On the other hand, some CRM solutions also offer a company to establish their own online communities for their customers which is an easy way to reach for queries and feedback.
Thus, Customer Relationship Management is an efficient way to get a clearer picture of your current business and helps you to plan your future strategies to satisfy your customers.
So, what are you waiting for? Start expanding your business today with the suitable CRM technology and share your experiences with us via comments.
Browse a list of CRM Software at SoftwareSuggest.com