Emerging international e-CRM technology research shows small- and medium-sized businesses using online CRM systems reap numerous benefits and outperform their competitors.
What is e-CRM?Customer Relationship Management (CRM) systems help businesses to communicate effectively with customers and market to prospective customers in a strategic and structured way. In recent years, online CRM systems have become the new norm which SMEs favour, particularly businesses with an international focus.
Accelerated growthA published study in the Small Business and Enterprise Development Journal claims that E-CRM in the Irish context has the potential to accelerate the growth and internationalisation of small Irish firms.
The study which followed the activity of 128 small and medium-sized firms from Northern Ireland and the Republic of Ireland, has demonstrated several key opportunities and benefits of E-CRM systems.
Benefits of e-CRM technologiesAmong the benefits cited, Irish firms which adopted e-CRM reaped the rewards of:
- Growth opportunities in the international market (76%)
- Improved communication with customers and prospective customers (62%)
- Efficient and enhanced management of electronic information (66%)
The findings from domestic firms, based on the island of Ireland, was compared with a similar international SME sample. The evidence base overwhelmingly indicates that e-CRM systems have the potential to outperform traditional CRM systems on numerous variables.
Improved outcomesThe key benefits which the e-CRM literature supports, indicates that these emergence, accessible business technologies can contribute to:
- Enhanced customer experience
- Reduced business costs
- Increased sales
- Improved profitability of products and services
