CRM is a cutting edge tool in the modern-day sales world. You may think it’s not a necessary weapon in your arsenal but it sure is a time-saving shield that increases your chances of winning by some distance.
Primarily a Customer Relationship Management Software is used by sales teams to streamline their sales process, track the journey of their leads and store the customer-related data in one place.
Here are a few ways a CRM can improve your business:
Know Your Leads Better
It hurts when you spend so much time and money and the lead doesn’t even qualify at the end. The story of lead loss is age-old. But using a CRM can help you focus on the right prospects, & there will be fewer lost opportunities.
Why waste your time on leads who aren’t even going to convert? Research says that close to 79% of the leads are not converted to sales without a CRM system. But if you use CRM software, the conversion rate goes up by 300%.
How do you know which leads have higher chances of conversion? A CRM helps you to follow leads that have higher chances of conversion. You get more clarity & your conversion rate improves while using CRM.
You focus on leads and customers, who will be profitable for the business. And your team focuses on engaging the customers.
Nurture Customers for Stronger Relationships
A recent study found that – customers feel only 13% of the sales reps understand them. And 75% of businesses do not have a defined and functioning process for lead nurturing.
Understanding your customers is the first step in forging a lasting relationship. Do study your prospect, and customers to make sure you are well informed about them. Be attentive and try to understand their pain points. Once you are aware of the problems and challenges they are facing you can offer advice and tools to solve their problems.
Transparent communication between you and your customer builds a lasting relationship. When you are crystal clear about their expectations, you start working on it. You must also let them know if you are facing a roadblock.
This helps build trust. Do not hide the problems from your customers. Later, it will be a waste of time and money, when you try to salvage the situation.
CRM software makes communicating with your customers easier. You won’t have to juggle between apps, mail and call your customers. Follow-ups become swift and connecting becomes faster, building lasting customer relationships.
Save Loads of Time
One of the major advantages of customer relationship management software is, it has a central repository. It is a centralized place that stores and manages all your customer data from-leads, customer information, account details, and sales opportunities.
When all your data is stored in a single place it becomes easily accessible to various departments. There is no need to navigate across systems because all your data is in one place. Your time is saved when you don’t have to fumble through old paperwork, or ancient documents to get info on your customers. It saves you time and effort.
It also saves time by eliminating the trouble of manual data entry. CRM offers you with many creative ways to feed your data to the system. This reduces the chances of duplication and increases efficiency.
CRM has cool features like task automation, one-click imports and updates and automatic call logging, reminders, and bulk emails. You save time on tasks that can be done automatically, and skip repeating tasks.
Boost Your Productivity
Businesses that leverage Customer Relationship management software see sales productivity increase by 34%.
When you save time on manual and repetitive tasks, you have more time on your hand. This gives your team more time for other tasks, which means more customers won. CRM ensures that all your departments are on one page. It ensures better coordination between team members. And it increases team efficiency.
All team members remain informed about tasks, they know their duty well and communicate accordingly. There is a seamless collaboration among the members like a well-oiled machine.
It isn’t just the collaboration that increases productivity but it is also the reduction of manual tasks. Team members invest more time on productive tasks rather than wasting time hunting for contact information or entering data.
Be Well-informed with Analytics
Having all your data in a centralized place also makes it easier to generate reports. CRMs help you generate reports based on the stored data. In fact, companies that use CRM experience sales forecast accuracy increase by 42%.
The reports give an idea about the potential revenue your company is going to generate in the near future. When you have accurate data in your hand you can have a precise prediction of the potential revenue.
CRM helps you forecast sales and also helps you to compare it with your current progress. You identify what is causing loss of sales, and which sales activities and sources are the most profitable lead generators.
Analyzing your data using CRM gives you an insight into your business. You focus on sales activities that boost business growth and take the right decisions.
CRM is fast becoming a necessity. More than 90% of the businesses which have 10 or more employees are using CRM software.
So, why be the last to jump on the bandwagon? Give Wakeupsales a try, you can experience the ways it will improve your business.