CRM is probably one of the most powerful tools to keep your business going. Want to learn how to integrate it into your cannabis business and get benefits out of it? Keep reading!
Making a product only to make a profit is just not enough today. The market forces us to transfer customer relationships to a different level. Because of this, more and more companies start using CRM systems (Customer Relationship Management). These programs organize data on clients and transactions, store the history of interaction with the customer, organize all messages and records of calls. Together, all this allows you to pay as much attention as necessary to any client so that he becomes a loyal and regular customer. Read on if you are eager to learn how to apply CRM to your cannabis company to increase the efficiency of your business.
What Is CRM?
A CRM system is a business strategy aimed at studying and understanding the needs of existing and potential customers. Thanks to the consolidation of the complete information about customers and the history of interaction with them, you are able to form a plan to attract and retain the clients, which ultimately guarantees an increase in profit. The main goal of implementation, as a rule, is to increase the degree of customer satisfaction by analyzing the accumulated information about customer behavior, regulating the tariff policy, and setting up marketing tools. With the use of automated centralized data processing, it becomes possible to efficiently take into account the individual needs of customers, and due to the speed of processing, quickly identify risks and potential opportunities.
The Biggest Benefits of CRM
Every CRM system aims to save the time and effort that you spend on communicating with clients and offers site visitors a new level of service and problem-solving. Here are the main benefits of CRM and why it is important for your cannabis business:
- Improving user experience
The integration of CRM systems is a great way to improve your customer experience in a variety of ways. With the addition of these systems, customers will be able to view the status of orders, the availability of goods in stock, and track parcels.
- Better Resource Planning and Product Marketing
CRM allows you to collect data on the most popular products of your business. This will give you the opportunity to properly plan production, resources, and sales based on customer requests.
- Additional Sales Improvements
Each owner of a cannabis-related company should develop a strategy for additional sales to customers. This will help improve relationships with customers and increase Customer Lifetime Value. Among the other advantages of integrating CRM, your team will have the opportunity to work with negative customer reviews and you will be able to study customer behavior in more detail.
- Loss reduction and cost reduction
If your company is not connected with the CRM system, you probably have problems with manual data entry, which often leads to errors and poor service. And, as a result, you lose customers.
- Competitive advantage
The synchronized data transfer of your e-store to the CRM system and the timely execution of orders will increase the efficiency of your business. This will give you a significant advantage over competitors in your segment.
Reasons Why CRM Is Important for Your Cannabis Business
The possibilities of CRM are unlimited. It all depends on the specifics of your company, tasks, scope, etc. Let’s look into the most important reasons why you should consider CRM integration for your business right now.
If you correctly implement CRM and establish business processes in it, you can automate up to 95% of tasks – both routine and serious. What will it give:
- Automating things frees up time for employees so that they can better succeed and produce greater results in sales, finance, legal matters, marketing, and manufacturing.
- The human factor is minimized – there is less risk of forgetting, messing up, or missing out on something important.
- Customer base – if the automatic formation of transactions and clients is configured, there will be no missed calls, which means that you will not lose potential customers or profit.
Here is an example of how CRM improved Mychron Extracts performance: before it took 1.5 hours for a manager to draw up a contract, clarify details, and search for important information. Now, having implemented the automatic generation of the contract from the customer’s card, this takes only 2 minutes. Data on the client's company and all important parameters – including the current date, cost, etc. – are automatically added to the standard dock.
- Sales increase
Automation, of course, affects sales, but there are tons of other important details that help significantly. For example:
- Client card – for every call that gets into CRM, it forms a client card. It stores all important data: interaction history, transaction status, the discount size on the loyalty system, personal notes from the manager, etc. Moreover, any new manager, leader, director or even owner can see all the information in just 3 clicks.
- Sales funnel – if you configure all stages of a sales funnel in CRM and associate them with specific actions of managers and scripts, you can build the optimal algorithm. At each stage, the manager has certain instructions on what to do and how to do it. If the script is refined, it increases both sales, the average check, and the frequency of transactions.
- Reminders and tools – within the same sales funnel, the manager may receive notifications (even to a smartphone) about important stages and actions. In the CRM-system, there can be integrated telephony, sending commercial offers, instant messengers, mail, etc.
- Analytics and control
Once you get systematic, understandable data, it becomes much easier to analyze. Moreover, CRM can display the indicators you need in clear, convenient graphs and charts. It also includes:
- The control of any department – the actions of sales managers, recording phone calls, correspondence history, and the stage of the funnel for each client and the status of transactions – all this can be tracked.
- Dashboards – display financial indicators on 1 screen, analyze conversion, employee performance, planned revenues this month, etc.
- Integrations with marketing – what kind of advertising channel, ad, a key phrase brought by a particular client, how much it will cost the company, when it will pay off, etc.
How to Choose the Right CRM System for Your Cannabis Business?
Choosing the right CRM system is very important for the smooth functioning of all business processes in your enterprise. Before you decide on any of the CRM systems, you should analyze if it meets your business goals and main criteria:
- Convenient and intuitive interface
You should get a ready-made working tool, and not be engaged in finding a button and learning the instructions.
- Data Access Security
Information should be stored on a reliable server or cloud storage. Employees should have access to only the information necessary for work. For this, levels of protection are implemented.
- Integration with other systems and applications
This is one of the most important criteria. This is so that you can send letters and make calls without leaving the CRM system window. And also, for exporting all information from social networks, mail and calls to the service.
- Ability to edit functionality
Most of the ready-made services allow you to add some function or vice versa to disable a function that you do not need. But the possibilities in developing your own CRM are much wider. It is created solely for solving the problems of a particular business.
- Having an edit history
This is to recover deleted files or track the real stages of the transaction.
The Best CRM for Cannabis Business
There are a lot of ready to go products, but the cannabis industry has already formed a well-accepted list of the most common solutions.
A well-thought-out interface, telephony, communication, with a lot of integrations and additional solutions ideally suited for your company. Some of the greatest advantages are the regular improvements and updates with more functions continually being integrated to the system.
World leader in CRM systems from the US developers. The key feature is the industry specifics of the client, which the system takes into account and a large number of analytics tools.
Advanced analytics settings are tightly connected with marketing, as it helps to attract new customers more effectively. Due to this, control is built up along the entire chain: from the first interaction with the client to sales.
- Zoho CRM
There are all the popular tools and integrations, but the system is more tailored for use by owners and managers. A greater emphasis goes towards management, control, analytics.
This CRM has many tools for planning and load balancing. The focus is specifically on improving business performance through deep work with statistics and is suitable for almost any business.
Selecting the best fit for you requires testing and analysis. That is why you should not forget to use the probation period first to get to grips with the interface and functions. Only then, decide whether it is a good fit for your cannabis-related company.