CRM Benefits for Small Businesses

The concept of customer relationship management (CRM) has been around for a long time. Businesses have always worked to create and maintain good relations with their patrons. In the past, information about clients and their preferences were stored in the minds of businessmen or in manual records. Now, such files have become more automated and organised. Storage has come under the purview of new technologies, collectively known as CRM solutions.
Although the list of CRM benefits for small businesses is substantial, most of them can be clustered under five main headings: profitability, customer service, relationships, compliance and reporting.

1. Simplify Tracking
Access to comprehensive and integrated data is really essential when you want to determine where your best margins occur. Expand profitable segments and discard those that are merely a drag on an otherwise blossoming business.

2. Simplify and Enhance Customer Service
Comprehensive information about every customer is critical. CRM software allows talented executives to strategically share their expertise with the sales force in precise ways. It allows a growing business to organize and leverage accumulated knowledge about customer preferences, which often leads to the development of new products and services.

3. Simplify Customer Relationships
Salespeople that do a great deal of cold calling especially benefit from CRM. Automated emailing allows for timely, targeted communication that, ideally, maximizes sales prospects. With the right CRM software, it is also possible to automate lead generation.

4. Simplify Regulatory Compliance
Compliance with applicable rules, regulations and laws is a necessary in every business. The more you can automate the record keeping, the better you'll sleep at night. CRM software can take care of the demands of federal and state requirements in the background, allowing your team to focus on growth.

5. Simplify Reporting
Once data input is consistent across the board, CRM software will organize it and deliver it in myriad ways through real-time reports, which offer many benefits. The ability to take a snapshot of any part of the company-customer interface at any time leads to better decision making, particularly in critical situations.

In short, CRM software can help you:

• Store customer details

• Share data efficiently

• Add information specific to each customer using built-in calendars
• Create a log of customer interactions
• Send emails and newsletters
• Create lists for potential clients
• Track your progress regularly
• Analyze data and charter future strategy

Business gift giving etiquettes and mistakes to avoid

“The excellence of a gift lies in its appropriateness rather than in its value”

The best gifts make an impression, but it's the worst ones that really stick with us. They're the presents you talk about at dinner parties, laughing at their awfulness or tackiness. And while they might make good conversation, you never want to be the person who gave one.

If you purchase a gift that is too expensive or not aligned with the recipient’s interests, your good intentions may be overshadowed by the gaffe. In the business environment, first impressions are crucial. You cannot afford to slip up as it may cost you your reputation. So before you start shopping for your next round of gifts for clients, colleagues or employees, consider the following business gift giving etiquette tips.

1.     Avoid promotional gifts

Corporate gifts all too often become marketing opportunities and most of those end up in the trash. The main goal of a corporate gift is to advertise the sender’s business or start-up. However customized gifts with your logo are not always a good idea. It’s tough to win over clients, so rather than making a bad first impression, come up with an original idea and stand out from the crowd with an ingenious gift.

2.     Give a personal touch

It’s always nice, whenever possible, to personalize each gift to each recipient. Your clients and colleagues want to know that you appreciate them. So giving an item that is specifically aligned with their interests can mean more than a generic token or promotional item from your company.

3.     Watch your spending

Gifts are not a tit-for-tat exchange. Just because someone spent a certain amount on a present for you doesn't mean you have to spend the same on theirs. Too often, shoppers overspend in hopes of not being seen as a cheapskate. This can actually be the worst move to make.

4.     Pay attention to gift presentation

Your gift, regardless of its nature, has to be wrapped nicely. It must look good and draw attention otherwise nobody will want to know what’s inside. The packaging is equally important. Make sure the wrapper looks professional too.

5.     Don’t make assumptions

There's a saying, "There's two things you should never talk about... Religion and Politics." This also applies to gift giving with clients and business associates. Avoid gifts related to religion or politics unless you are confident of their beliefs or the recipient/group is part of an organization affiliated with this topic. You don't want to take any chance of offending the recipient.

Business gift giving is excellent for business. Offering corporate gifts to clients can be an opportunity for you to make your start-up stand out. It could mean a lot for your productivity levels providing that you can master the art of corporate gift giving. Choose to be original and people will notice you; choose to offer trivial gifts and people will ignore you. Regardless, you are the one to decide which way you want to go.