B2B manufacturing organizations are having a rough go of it lately. The old go-to-market strategy of trade shows and cold calls just doesn't work any more. Is it even...
The Hidden Costs that Manufacturers Pay for Using an Outdated CRM
Aside from how much CRM system costs, there are other costs a manufacturer needs to think about; especially that of running a business with an outdated CRM system. Whereas Zoho and MS Dynamic cost $12 and $115 per month respectively, HubSpot allows you to take customer relationships to the next level with free software that does not come with a time limit.
The cost of an inefficient of non-intuitive CRM
Customer relationship software is ever-changing due to advancement in technology. Staying up to date ensures you serve your customers effectively. An old CRM system is incapable of offering the newest, yet already indispensable functionalities your manufacturing company requires for seamless operation. Choosing to continue using an old CRM system causes the company to lag and lose loyal customers to rival businesses. Once a CRM system has outgrown the company, it is wise to upgrade to a more useful one.
Even though change can be a big challenge, when it comes to CRM, there is a lot at stake. Upgrading to a new system might seem like choosing to throw the effort and time put into implementing your current CRM out the window. But you need to remember that switching to a new CRM system is not as costly as keeping an outdated one. Research shows that the implementation of a CRM system has to be done correctly for the complete system to function correctly. Failure to do this results in an up to date CRM system that does not help the company achieve its goals. Manufacturing has to go through implementation, customization, on-boarding and user training every now and again to ensure the company produces streamlined operation.
Keeping in mind why the company implemented the current CRM system in the first place keeps you in check. Since technology is ever-changing, the only thing that makes sense for a manufacturing company is to keep updating systems. Transferring old CRM database into a new system allows salespeople to keep track of leads. Failure to update means more downtime and decreased productivity. Customer relationships will also take a hit, and as a result, the company will most likely lose customers.
With fully fledged departments and integrated systems, lack of advanced tools to manage operations put the company at risk of being permanently curtailed. With a system that no longer supports the new functionalities available with other systems in the market, it is close to impossible to fulfill customer needs in good time. Besides, obsolete data input methods make it challenging to integrate a CRM system with every department for seamless operation.
The cost of management a business incurs when there is a lack of transparency and lack of reporting.
In manufacturing, transparency and reporting for lead management are vital. To better serve customers, salespeople need tools to better monitor customer interactions with different products. Lack of engagement due to an inefficient CRM system can result in loss of potential leads and existing customers. When salespeople have to collect leads and interactions manually, they will be unable to achieve real-time reporting. Intelligent software providers like HubSpot offers free upgrades as you grow to ensure fulfilling customer requirements. You get to build a deeper relationship with contacts and make customers happier.
An intuitive customer relationship management software is the difference between success and failure for a manufacturing company. To find buyers for manufactured products, manufacturing companies need to outdo rival businesses in a crowded market place. A CRM system that takes your customer relationships to the next level ensures you exceed customer expectations. Since your competition is looking to the same customers, you are targeting, updating your CRM system allows you to have a competitive advantage. Customer relationship management software is the crucial determinant in the success of any manufacturing company. Contact us today to know why you need up-to-date CRM for your manufacturing business.