Economic Development Organizations (EDOs) play a crucial role in supporting businesses and fostering economic growth in their communities. To do this effectively, EDOs need the right tools and technologies, including a customer relationship management (CRM) system.
But what kind of CRM do EDOs need? The answer will vary depending on the organization’s specific needs and goals, but there are some key features and capabilities that are commonly important for EDOs.
One important feature of a CRM for EDOs is the ability to manage and organize interactions with businesses and other stakeholders. This can include creating tailored profiles for each stakeholder, tracking the various stages of the organization’s outreach and engagement efforts, and managing the support and services provided to businesses. With this kind of functionality, EDOs can better understand the businesses they are working with, and can provide more targeted and effective support.
Another important feature of a CRM for EDOs is the ability to track and manage internal processes and activities. This can include things like tracking the progress of different projects and initiatives, managing the availability of staff and resources, and monitoring the organization’s overall performance. With this kind of functionality, EDOs can improve their efficiency and productivity, and can better ensure that they are meeting their goals and objectives.
In addition to these core features, EDOs may also require specific capabilities or integrations based on their unique needs and goals. For example, an EDO that provides financing to businesses may require a CRM with robust financial tracking capabilities, while an EDO that focuses on business training and workshops may require a CRM with integrations for scheduling and managing events.
Overall, the specific kind of CRM that an EDO needs will depend on its specific needs and goals. However, all EDOs will likely benefit from a CRM with capabilities for managing interactions with businesses and other stakeholders, as well as for tracking and managing internal processes and activities. By choosing the right CRM, EDOs can better support the businesses in their communities and foster economic growth in their region.
Sikich created a pre-built set of enhancements that accelerates new implementations of Microsoft Dynamics 365 CRM and solves the most common challenges economic developers face, right out of the box. Sikich Cloud Nine Economic DevelopmentTM for Dynamics 365 CRM allows economic development organizations to greatly reduce CRM implementation cost and time. See how it benefits the City of Austin in this 3.5 minute case study video.