It is likely no surprise to you that industries don’t have similar customer relationship management (CRM) requirements. Let’s understand this with three comparisons:
A construction and manufacturing company will need a CRM tool to streamline communication and reduce misunderstandings between clients, on-site workforce, and office teams. With a purpose-built solution like monday.com, they can improve project outcomes, increase customer satisfaction, and prevent delays.
Conversely, a design agency will need a CRM tool to integrate its creative operations and streamline workflow. It will use this software for lead monitoring, checking marketing performance, project management, and sales.
Moreover, a managed service provider (MSP) will need CRM tools to get more clients, foster new business relationships, and keep data in one place.
Hence, the CRM needs of the financial service industry will differ from those of companies in the construction and professional service sectors. That’s why finding the right CRM tool is important.
You’ve probably heard about monday.com, but unsure whether it can benefit your business.
With the versatility of monday.com CRM, you can improve relationships and grow your business. In this blog post, we’ll learn more about the kind of CRM software monday truly is when it comes to the financial service, construction, Manufacturing, and professional service industries.
#1. Financial Services Industry
Investopedia reports that the financial services sector holds about 20-25% of the world’s economy. Deloitte also mentions that regulatory pressure and troubling inflation have plagued this sector.
With such market saturation and challenges, it’s normal for the financial service industry to reach some productivity roadblocks. The most common one would be overcoming the following customer experience issues:
Inability to solve customer problems
Not protecting client data
Failing to offer customised experiences
Slow service delivery issues
How monday CRM Can Help Financial Service Companies?
The question is: can monday.com be used as a CRM for the finance industry?
Well, the answer is yes! Here’s why:
It’s fully customisable, secure, and versatile.
The tool offers process optimisation and meets regulatory compliance.
There are no code requirements in its user-friendly interface.
You can centralise sales cycles, protect customer data, and access reporting features.
It lets you organise, manage, and streamline customer communications.
Other than these, companies in the financial service industry can benefit from the monday CRM system as it automates manual processes. In the monday sales CRM app, you can gain access to valuable insights about the customer data collected.
Moreover, companies in the finance sector will need help with integrating monday.com. That’s where Fruition’s services come in. We can help you with the following:
Finance process mapping to meet your CRM requirements
Ongoing support, adoption of CRM monday, and training
Seamless implementation with smooth data migration
#2. Construction & Manufacturing Industries
McKinsey Global Institute reports that the construction and manufacturing industry is one of the largest in the world economy.
Every year, the sector spends almost USD 10 trillion on construction-related goods and services. However, there’s a productivity issue.
As a result, this sector faces numerous challenges that hinder profitability and customer experiences. If you’ve got a company in this industry, you are likely to see the following issues:
Inefficient resource allocation
Project delays
Poor client communication
Difficulty in managing sales pipelines
Data management concerns
Why Should Construction Companies Use monday CRM Software?
Did you know that the CRM tool monday can be used to track projects, ensure efficient communication, and manage subcontractors or suppliers?
monday.com’s construction CRM has every feature you’ll need to ensure:
Compliance and lead management
Improved customer relationships
Access detailed project tracking with Gantt charts
Storage of important permits and other documents in the monday.com database
You also get to access real-time collaboration tools to streamline communication between the main office and the on-site workers.
But are you worried about monday.com implementation? Fret not, because Fruition is here with our construction project management solutions.
With our help, you can seamlessly integrate monday.com as a CRM in your construction company’s operations to access project tracking, subcontractor management, and more.
#3. Professional Services Industry
If you’re in the professional service industry, you’re probably offering consulting services. Examples include management consulting, financial advisors, etc.
Research suggests that the revenue generated from this market will reach USD 72.61 billion in 2024. By 2029, this will have a 5.62% CAGR, generating USD 95.44 billion. According to NetSuite, The biggest issues in this sector include the following:
Inability to recruit talent
Issues with customer retention
Problems while personalising services
Companies in the personal service industry, especially strategy consultants or HR consultants, can face issues managing remote teams. Even an expert consultant can face challenges with adapting to new technologies.
That’s why you’ll need to harness the power of monday.com CRM features. With it, you can manage client intake, streamline scheduling, track revenue, etc.
5 Reasons to Use monday Sales CRM for the Professional Services Industry
Consultation companies in the professional service industry can use monday CRM to store important documents, attract clients, and retain them. Take a look at the reasons why you’ll need a monday sales CRM:
It’s an all-in-one tool to help manage clients and communication.
You can organise data and track case progress to make informed decisions.
The tool can save time by offering features like project management and resource allocation.
It offers customisable dashboards that have unique financial reporting features.
You get access to an intuitive interface that helps you track collaboration and share knowledge with remote teams.
A monday.com partner can help you with seamless onboarding, customised training, amplified efficiency, etc. With our services, business consultants can use monday.com CRM as a purpose-built tool for offering their professional services. Whether you’re in management consulting or an IT consultant, we can assist you in implementing this all-in-one software.
The Bottom Line
Do you know the extent of the popularity of a CRM tool? Statista reports that the global CRM software market was projected to reach USD 89.30 billion by the end of 2024. By 2029, this industry is expected to grow at a 10.35% CAGR, reaching a market volume of USD 146.10 billion.
Even in this competition, monday.com CRM emerged as a leading provider of CRM solutions. For instance, in the fourth quarter of 2024, the company generated USD 202.6 million in revenue. That’s a 35% year-over-year growth.
This happened because of the unique monday sales CRM features of increasing productivity, automating manual work, organising data, etc.
That’s why companies in the construction, professional, and financial service industry should implement the monday CRM software. To get a monday sales CRM tutorial, reach out to our consultants.
FAQs
Is monday.com the best CRM?
monday CRM can help you manage, organise, and track leads using highly customisable features.
Businesses in various industries can benefit from this CRM software because of its flexibility, allowing users to implement specific workflows. Forbes even rated this software as #3 for being the “best for project management and sales.”
Can you use monday as a CRM?
Yes, monday can be used as a CRM. At its core, monday sales CRM is considered an all-in-one cloud-based platform where businesses can manage their marketing campaigns, clients, and leads.
You can effectively use this management software to streamline post-sales and pre-sales activities. As a result, you can create a compressive and personalised sales cycle.
Where can I find a monday sales CRM demo?
You can find a comprehensive monday sales CRM demo on YouTube.
But if you’re looking for live assistance, you can get personalised monday.com demo specific to your industry by get in touch with us.
We’ll help you understand the monday.com CRM intricacies, like optimisation, collaboration, implementation, and more.
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