We operate within a global economy that buys, sells and communicates in countless ways. Our competitors are everywhere and the barriers of market entry are low, increasing competitive intensity. CRMs are designed to help an organization or business track its leads.
Maintaining a strong relationship with customer, in a customer centric market, is undeniably the most important thing for a business. With customer relationship management (CRM) software at the helm of your sales and marketing efforts, you can nurture long-lasting business relationships and improve your bottom line.
Why A CRM? It’s all about people
Customer relationship management (CRM) is the process of tracking and analyzing all of the interactions you have with your customers and prospects. It may also include automation for business rules and business processes, such as contacting customers or sending out inventory replacement reminders.
If you need a little bit more convincing, we’ve compiled few more reasons why your business needs CRM.
CRM helps your business scale up
The ol’ Rolodex may have been useful for managing a few clients, but you’re going to need a better solution if you plan to maintain relationships with hundreds, possibly thousands, more. CRM scales with your business, meaning it can handle larger data sets and more clients as you expand your sales operation.
Organizes your customer information
CRM software acts as a central database for all your sales records and transactions. This means important customer information can be retrieved in just a few clicks rather than rifling through thousands of documents, sticky-notes, and disorganized cabinets. And since CRM is hosted in the cloud, sales data, customer interactions, and other actionable information are available for the entire company.
Improves customer service and new sales
Your sales team could be the most persuasive individuals in the world, but this means nothing if they can’t recall anything about their clients and their preferences. When your sales staff follows up on leads or existing customers, CRM will automatically retrieve contact history, past purchases, and customer preferences from your client database and display them on a single page during the call.
From here, sales representatives, armed with detailed customer information, will be able to recommend products and services that meet the client’s needs. So instead of struggling through a sales call, marketing employees can focus on delivering a professional sales pitch.
Streamlines your sales funnel
CRM comes equipped with workflow management functions, supporting your sales pipeline in a number of ways. For example, you can configure your CRM to send instant follow-up emails when a lead visits a particular product page. You can even use automation to track where certain leads are in the sales pipeline and delegate the task to one of your closers.
Analyzes sales data
With real-time sales information, business managers can track marketing campaigns and adjust their strategy accordingly. For instance, you might notice that click-through-rates for promotional emails and company newsletters are higher during Tuesday afternoon rather than Friday night. Having this information can help you focus your marketing efforts and message to generate more leads.
Apart from letting you conserve and access the details of your clients and customers, CRMs can display the trends associated with a market segment and target audience. In short, a modern-day customer relationship software application can help you organize, automate and grow in a competitive market environment, smartly and strategically.
In addition, you can use CRM to analyze customer calling activity, market demographics, lead conversion rates, and key performance indicators to help inform future business decisions.
Understanding your customers can put you several steps ahead of the competition. If you need to manage contacts, eliminate time-consuming procedures, and improve your sales performance, CRM is the perfect business solution.
Contact us today to find out whether CRM is the right fit for your business.