8-29-23 - 3 Ways Your CRM Can Boost Company Performance

FEATURE

Many small businesses already have a CRM in place, but these platforms can be very robust, and you’re probably not taking full advantage of the functionality available to you.

If don’t already have a CRM, some of the most popular for small companies include HubSpot, Zoho CRM, Monday Sales CRM, Insightly, and Pipedrive, to name a few.

Other than storing contact information and running your email newsletters, three more ways to leverage your CRM to boost company performance are:

1. Track the lifetime value of your customers

2. Set up as many automatic communication points with customers as possible

3. Standardizing workflow for common processes

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NEWS ROUNDUP

1
In a sweeping set of policy changes, Small Business Administration has increased the pool of eligible lenders, relaxed some requirements for an SBA-backed loan, and simplified the application process.

https://www.wsj.com/articles/small-business-lending-is-about-to-change-with-simpler-requirements-8578a895

https://www.forbes.com/sites/allbusiness/2023/06/29/new-2023-sba-loan-rules-make-getting-a-small-business-loan-easier/?sh=3c26bbf545eb

2
The Credit Card Competition Act would give some small business merchants a degree of choice over which credit card payment network is used when processing their transactions.

https://www.nfib.com/content/press-release/homepage/nfib-releases-new-in-their-own-words-video-on-credit-card-competition-act/

https://www.jobcreatorsnetwork.com/opeds/bipartisan-bill-to-address-credit-card-swipe-fees-would-help-small-businesses/

https://sbecouncil.org/2023/06/28/coalition-letter-to-congress-in-opposition-to-credit-card-competition-act/

3
The recently released CNBC-SurveyMonkey Small Business Confidence Index dropped back down to the survey’s all-time low score of 42 out of 100.

https://www.surveymonkey.com/curiosity/cnbc-small-business-q3-2023/

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