•   Thursday, 07 Jul, 2022
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Marketing Automation & CRM's: “Small Businesses, Existence or Extinction”

With the advent of parallel virtual world, it's no longer a herculean task to set up a business, however the very dynamic nature of this virtuality can in itself be its Achilles heel. The impetus provided by Marketing Automation & CRM's to small businesses is undeniable, providing them a deeper market penetration, pathbreaking methods of account management and nurturing, revolutionizing traditional sales methodology, more relevant reporting and forecasting etc. Every weaponry in its arsenal to make it a force to be reckoned with.

Contrary to the belief, that these technologies cater only to well established businesses, it's the small enterprises that stand to gain in the long run. The fact that only 50% of the start-ups or small businesses survive the initial five years, makes it even more imperative for them to adapt or adopt tools that reduces overhead costs, increases profit margins, creates a surplus amount that can be reinvested in developing, creating a more robust business model.

Marketing automation provides a quick decisive outreach to old & new customer by providing an in-depth analytical segmentation of their behavioural shopping patterns taking into consideration their geographical and ecological affinity. This in turn helps in running an effective campaign. It also assists in providing better customer service by channelling its resources in the selection of the most apt and relevant mode of interaction with its customer base, be it via social platforms or more personalised form of communication.

The biggest challenge for any growing business is and will always be coping up with:

a) Growing Customer base.

b) Effective and targeted marketing campaigns.

c) Sales forecasting.

d) Realistic reporting.

e) Cost reduction and profit maximization.

f) Nurturing and retention.

Marketing automation & CRM provides a one stop solution to all functionalities of a great customer centric business, where losing critical and crucial information to a glitch is almost nullified. However, finding out the right CRM or Marketing Automation tool for the business is just half the battle won.

Experimentation with a more complicated CRM may not have the desired result. Acceptability by employees or the salesforce may come into question, that is why the simpler the tool the better but not compromising with the real purpose or the intent for its implementation in the first place.The reliability of these tools completely depends on the raw data that is fed into them. Its of vital importance that the new CRM not only integrates but also compliments the existing system in place thus making data exchange seemingly easy.

As humans, though we believe change is inevitable, adaptation is what we find more cumbersome and tedious process. Gradual introduction to the same should be meticulously planned initiative, in the form of training and re-training. Small businesses do need the leverage of these tools but have to tread cautiously looking for one that suits them and evolving slowly but surely with growth, adapting to newer technologies as they come. Its time to embrace the ways of the world, if it wants to be a force to be reckoned with and not veer towards the path of extinction from existence.

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