You must be aware of the CRM software if you’re from a sales or marketing team. Over the years, CRM software has gained so much popularity among big companies due to technological development. Organizations around the globe are phasing out traditional methods like spreadsheets and bookkeeping to manage their customers’ information and prefer to integrate CRM into their businesses. However, if you don’t know what CRM is and how it can benefit your benefit, scroll down!
What Is A CRM (Customer Relationship Management?)
It’s a business software that helps organizations and their teams to track all communications and nurture relationships with their potential leads and existing customers. It connects all the data from your sales leads and customers in one place.
In the past, only big enterprise companies could afford a CRM. However, today, businesses of all sizes have access to such beneficial software.
Benefits Of CRM For Your Business
Let’s dive right in to find the benefits of a CRM for your business!
#1. Attracts the right customers
CRM software can increase your conversion rate up to 300%. ~Cloudswave
You’re spending a lot of time and resources to get the customers and generate leads, but are you able to convert them? Time is the essence, so connect your marketing tools like social and email accounts to a CRM platform. It will save a lot of time of the sales team, allowing them to focus more on closing deals. Both sales and marketing teams can devote that time to forming and nurturing relationships, building trust, and understanding what each prospect needs to turn them into customers.
#2. Improves customer retention
CRM can lead to a 26% increase in customer retention ~Ready Cloud
Once you procure and convert leads, you must retain your customers by showing loyalty to them. Dealing with an enormous amount of customers manually can be very challenging, and missing out on anything can disrupt cash flow. So, use CRM software for automated ticketing, sentiment analysis, automated customer support, and tracking customer behavior. This will help you determine your customers’ problems, allowing you to resolve the issues as quickly as possible.
#3. Boosts productivity and efficiency
“52% of high-performing salespeople identified themselves as power users who take full advantage of their companies’ CRM technology.” ~Harvard Business Review
High-quality CRMs offer various services, including process automation, tools for sales enablement, CRM reporting, handling & managing customers’ data, and more. Tasks like searching a customer’s contact information or deleting customer entries from the database manually can take a lot of time. However, with CRM, it gets done within no more than 3 commands. So, adopting the right CRM frees up your resources from heavy tasks and gives them more time to connect with the customers.
#4. Offers better customer service
Initially, CRMs were introduced to improve the business-customer relationship, but nowadays, it serves more purposes. A CRM helps gather and manage information of all customers, including previous order history, demographics, and messages across all channels, allowing you to access all information on a single platform. This allows your resources to send personalized messages and solutions to customers based on their requirements, boosting customer satisfaction.
#5. Reduces the sales cost
The chances of selling to an existing consumer are 60-70%, whereas for new customers is 5-20%. ~Marketing Metrics
Gaining new customers isn’t easy and cheap. However, you can counterbalance the cost of getting new customers by selling your products/ services to your existing customer. A CRM offers a piece of complete information about upselling, cross-selling, and renewal opportunities in your customer profile, leading to an increase in repeatable sales.
#6. Generates automated sales reports
A CRM’s reporting feature can help your team to easily gather and organize information about your current and potential customers, allowing them to manage their pipelines and processes. Moreover, integrating a CRM can help your team members evaluate their performance, monitor their goals and quotas, and check their progress on each project at a glance.
What can all organizations benefit from CRM software?
As CRM offers various benefits, so many companies and their teams can take its leverage. Every customer isn’t similar, so integrating CRM into your company can keep you on the right track. You can easily focus on the customers that need immediate attention. Moreover, you can focus on the customers that are giving you business and spend strategically towards those that don’t offer much value to your business.
The key functions of a CRM are centralized task management, communication, and marketing automation, so every business – from a startup to SMBs and enterprise-level organizations can use CRM effectively. However, some businesses gain more than others from the use of a CRM. Let’s find out the businesses that gain more benefits by integrating CRM into their workplace.
a) Businesses with a marketing team
The data from CRM software can help a marketing team to analyze, attract, nurture, and convert leads. It can also help marketers to track customer-salesperson interaction history, and monitor drip campaigns within the sales cycles. These CRM benefits can help you provide a smoother and more consistent customer experience.
b) Businesses with a dedicated sales team
You should integrate CRM into your existing system if you have a sales team. It can help your sales team to manage your customers’ contact information. It can also boost your sales by highlighting the customers interested in your products/services and showing key trends and areas where you need to improvise your strategies.
c) Businesses seeking to increase efficiency
Want to increase the efficiency and productivity of your workforce? Integrating high-quality CRM is a must for you! Most CRMs offer to automate processes, including contact organization and communication, significantly speeding up everyday tasks of your sales and marketing team. Moreover, a CRM reduces communication errors and ensures that all messages go to the right people at the right time.
Conclusion
Now that you know what value a CRM brings to your business, we recommend you integrate one into your business too. We know expanding your business is a challenging task. However, the Alberta TechWorks experts can help you integrate the software into your business, allowing you to complete your task on time with maximum efficiency and unlocking the full potential of your business.
