Is your CRM Program reaching its potential? 8 Surprising CRM System Benefits
Find out how a CRM can help you
One way CRM increases sales is to identify new sales opportunities. Joe Dysart reported in the ABA Journal (2014) that a law office earned a surprise consulting fee of 50,000 pounds. This was because they were able to link a client interested to invest in a company to another attorney who had a deep knowledge about the proposed investment. The CRM system allows for similar connections and opens up new opportunities.
CRM systems make it possible to build relationships with potential customers, until the time comes for them to buy. This is vital, considering that long-term leads account for 77 per cent of potential sales. Sales reps tend to ignore long-term prospects if they don’t have a proven process of following up.
CRM systems have many other benefits that can be seen in the management and organization of companies. Companies can track response to campaigns and coordinate sales and marketing tasks with CRM data. CRM systems provide insights into process improvement and can be used to forecast, purchase, and schedule production. CRM systems provide information that is useful for making informed decisions.
Many businesses, non-profits and government organizations, as well as schools, recognize the importance of a CRM. According to recent statistics, more than 90 percent of businesses with 11 employees or more use CRM. While the core benefits of CRM programs are attractive enough, few users realize the more advanced benefits.
The 8 Most Surprising Benefits Of A CRM System
1. Save time
Your company may feel that CRM is taking longer to implement or change than it was before. Many employees might complain about the increase in workload and increased data entry. It may seem that there is a lot of data entry on CRM. But, it will turn out to be a tremendous time-saver for your company in the not too distant future. Cloud CRM systems can be especially useful because field reps have the ability to update their CRM anywhere they are from their mobile devices. Salesforce Cloud CRM users report a 40% increase their sales productivity. Salesforce Lightning’s time-saving features include the ability to view LinkedIn profiles and send emails directly from Salesforce CRM.
5. Create Business Strategy
Smart business leaders know that CRM is not just for the sales team, but for the whole company. CRM tracks many important business tasks, so CRM should be central to every decision. The system’s information is critical to marketing, accounting, scheduling and inventory. When businesses learn to access their CRM system for information, they are able to make better and more data-driven business decisions.
6. Improve internal processes
CRM systems can help ensure that orders are delivered on time. Denis Pombriant is a CRM analyst and author of The Subscription Economy. He explains that CRM-based processes help to deliver exceptional products. “Modern CRM uses analytics and a decent customer behavior model to spot exceptions and] gives vendors the ability to zero-in on customers who really require help while at the same, helps manage scarce resources,” Pombriant (3).
This leads to the delivery of what customers need. According to Pombriant, following clear processes that are informed by CRM tools leads to sales goals that are not complicated.
7. Identify At-Risk Customers
Since most sales come through current customers, it is crucial to keep track of each customer and their past so that your company can exceed their expectations. An CRM tool can help you identify customers that have called multiple times with complaints, placed fewer than expected orders or waited longer than normal between orders. These are all indicators of unhappy customers. You can strengthen your relationships with these customers and solve potential problems by proactively contacting them.
8. A customer-centric focus is created
“Customer relationship management” should be enough to describe it. CRM software can log customer information, orders and conversations as well as help desk requests. All this information can be accessed by customer service representatives so that a conversation can flow smoothly and you can pick up where you left off. The ability to access all information at once allows representatives of companies to be more focused on the customer than trying to recall facts or interact with customers.
CRM systems allow you to focus more of your business on the customer when used properly. CRM systems are essential tools for modern sales teams. They organize customer data and allow for action.
Customers should be at the center of every process, from sales to marketing and purchasing to inventory management. This will help your company take care of the most important people in your business. It is the customer that is at the center of your business, and this is the most important benefit of a CRM program.