In the past year, businesses
in every industry were forced to implement or accelerate digital transformation.
While the tech sector’s inherent focus on AI, automation, and digital capacity
left it well-positioned for this change, new challenges also arose. Competitive
pressure tightened as desperate businesses looked to the tech sector to support
their initiatives. Technology companies were expected to pivot faster, with
more agility, swifter response times, and reimagined approaches. These
challenges can become opportunities with the right internal support. Customer
Relationship Management (CRM) software gives technology teams more control over
their automation and customer service to better deliver on these requests. Here
are six reasons why now is the time for tech companies to adopt CRM.
#1 Cloud-as-a-Service Options
Cloud-based CRM offers unmatched accessibility and real-time insights on valuable customer data. It centralizes the customer database and makes it easier to automate processes and standardize internal workflows. Modern CRM solutions include IaaS, and PaaS offerings, providing on-demand access to essential IT infrastructure. Cloud as a Service options in the CRM make it easier to tie in your CRM data with your existing solutions to build a comprehensive network of information.
#2 Helpful Automated
Simply put, technology CRM
automates day-to-day tasks so teams can put less focus on the mundane and more
focus on major projects. The CRM helps track and manage engagement efforts by
automating recurring sales, customer service activities, and marketing
functions such as lead scoring, call logs, notes, reporting, and emailing via
personalized templates. Not only does this automation streamline the lead
nurturing process, but CRM for the technology sector is proven to convert leads
faster as a result.
#3 Secure Privacy
Maintaining your clients’
data privacy is critical for building trust and strengthening customer
relationships. This is especially true for technology organizations that are
more often scrutinized on how and where they access and use customer data. CRM is
a subscription-based service, meaning you have full control over which
employees have access to which records. Selected teams can be assigned unique,
passcode protected identifiers that grant access to pre-approved fields. This
ensures sensitive data stays protected and grants customers peace of mind. This
secure access control is a meaningful step towards ensuring customer data
privacy, but it should be combined with other privacy restrictions and rules
across your organization.
#4 Advanced Forecasting
When paired with predictive analytic
add-ons, CRM harnesses the power of AI, machine learning, and sales histories
to identify unique customer patterns, apply them to current data, and forecast
future events, behaviors, and buying trends. CRM for the technology industry
even offers detailed, customizable dashboards to further narrow customer
analysis. Marketing teams can use these predictions to guide campaigns, while
sales reps can make more accurate “next purchase” predictions.
#5 Easy Subscription
What if there was a better
way to manage client subscriptions? Technology CRM integrates with subscription
management software to monitor customer payments, track payment histories, and
estimate future payments. Teams can essentially manage the entire customer
lifecycle within the CRM, from onboarding to automated payments and everything
in between. Reps can even close deals faster with personalized offers billed on
a singular or reoccurring basis.
#6 Clear Opportunity Management
Merely having lead data in your system isn’t enough to close sales. CRM software optimizes lead management by organizing customer data, like interaction histories and call logs, into detailed profiles so sales reps can track consumers more efficiently. In a recent study, 74% of companies said CRM software gives them greater access to customer data. Having all your prospects, leads, and customer information in one centralized location makes it easier for teams to understand consumer needs and suggest relevant product upsells, encouraging authentic customer relationships and higher margins.
To get started with CRM selection, request a free consultation from our team. We’ll analyze your current solutions, business goals, and growth plans to help you select the best-fitting CRM for your needs.