The pawnshop market is as dynamic as fintech, it constantly needs new approaches to working with clients, their support and retention, and CRM systems will be more useful than ever in setting up and launching a business of exchanging jewelry and other assets of your clients for money. A robust reporting and management system will help you keep customer history in case of redemption of valuables, and regular customers who sell or buy in one place to improve the services provided.
Personal loans
Issuing loans secured by property should be quick and comfortable for both parties, which is why it is necessary to have a very transparent valuation system, a soft and convenient CRM that will allow you to quickly enter data about the client, the amount of the loan, and the property with its valuation and unique identifier, and all this will allow you to do in one place.
Another huge advantage is that in the case of a complete sale of any property, your manager will be able to instantly upload photos and product data to your website from CRM, and thanks to the integration between CRM and CMS, the product will instantly appear on your website, which makes it possible to instantly put the product up for sale.
Advantages of CRM systems for pawnshops
Borrowing cash online
Also, don’t forget that it’s not always necessary to bring any tangible items to the branch to evaluate the pledged property. The client can send a photo to your pawnshop’s email, and your specialist will be able to evaluate the item remotely and, if both parties agree, send it by mail, while receiving money from your company for the item through an app or website.
Improved customer service
Thanks to the data you have about your customers (phone number, email, date of birth), you can fine-tune your marketing campaigns and, for example, make discounts for birthdays, promotions before holidays, or personal offers that can positively affect the user’s further experience with your pawnshop.
Management of the pawnshop warehouse
A well-organized CRM system will help you to keep detailed records of all the goods in the warehouse, which is especially valuable in the case of buying back and storing not only jewelry but also equipment with different names. This will allow you to effectively use the available resources and manage goods with a history.
Automation of collateral
The system can automate most of the processes, from acceptance of property, registration, filing of electronic documentation and sales, which will significantly speed up all processes, and will be able to accept the goods on the same day, register them, put them in your online store and sell them on the same day!
Analytics and reports
All actions and the path of your customer from the site or store to the purchase or sale will be described in detail in the analytical records of your CRM system, where you as the management will be able to analyze and evaluate the processes for further development.
Conclusion
The development of any pawnshop is very dynamic, and therefore the implementation of a CRM system will be an important step in establishing future processes from scratch and optimizing them at the beginning before your 2 pawnshops turn into 12, and before you drown in operational activities. That is why it is extremely important to put the deployment of a CRM system at the level of your business development strategy. Can’t choose the best CRM for your pawnshop? Choose a time convenient for you, and let’s discuss it!
