November 24, 2017
A lot has changed with CRM technology over the last 5 years, but how and what are the benefits of investing in your CRM?
CRM software’s migration to the Cloud has improved it beyond measure; enabling it to provide increasingly sophisticated services that are faster, more reliable, agile, easy-to-use, and offer far greater functionality.
This adaption has enabled organisations to improve their quality of service and, as a result, generate increasing revenue by transforming and digitising their internal processes and personalising the way they manage their customers on a regular basis.
Implementing an effective CRM solution has a direct impact on how an organisation interacts with their customers. By relocating all relevant customer information to one central database, employees are easily informed about the customer and their position within the customer lifecycle and sales pipeline.
CRM technology allows organisations to automate tedious tasks which, in turn, allows employees to focus on their relationships with their customers and create personalised experiences with the organisation. Employees needn’t manually record, track or monitor incoming leads, nor do they need to speak with different teams to track down information, making managing their relationships easier because they have a clear view of their history of interactions, current problems and most recent communications.
By automating some of these activities and centralising data into one unified interface, employees save time, increase productivity levels and, as a result, increase customer satisfaction.
Not only that, because a CRM system provides you with a better view of the sales pipeline and the ability to track and qualify leads, you are able to gain a better idea of the opportunities that are most likely to close, and work on driving those opportunities to a sale.
Additionally, clients who are struggling can be spotted and employees can work to prevent churn.
With a single view of the customer and a better understanding of their position within the customer lifecycle, employees can focus on delivering a better quality of service, retain clients, increase sales and generate increased revenue.
CRM platforms allow an organisation to track and monitor clients within each stage of the customer lifecycle. A more transparent view of the sales pipeline offers employees to gain a better scope of their clients and their interests and needs.
This enlarged viewpoint also creates a clear picture of the acquisition and retention strategies that work, gives an insight into the overall sales health of the organisation, and indicates at which point of the pipeline that sales may be going wrong.
With access to this data, employees are easily able to review their performance on a regular basis. Task management and tracking tools within a CRM gives employees the ability prioritise tasks and collectively enables sales professionals to deliver a better quality of service, increase productivity, and create strategies to maximise their future sales.
Many hands make light work – An efficient, proactive and informed team is the key to profitability and growth. A CRM ties an organisation’s different departments into one dynamic system, creating a space for collaboration between teams and ensuring the best possible outcome for your clients.
A unified system means that employees are more responsive to sales opportunities, customer inquiries and general concerns. Increased communication within the workplace means that professionals remain informed about their customers, and have access to the most accurate information from the moment one of their customers’ status’ is updated. According to Salesforce, CRM system adoption increases sales by up to 29%. Baseline also notes the average ROI for a CRM system is US$5.60 for each dollar spent.
Creating a hub for all relevant customer information allows for employees to save time and increase efficiency within all processes across your entire organisation – it could even be the starting point of your very own digital transformation project.
Having all important information stored on one centralised interface minimises the chances of a security breach.
By storing client information and important data on a multitude of databases and applications, it becomes harder for organisations to track this information and who has access to it. Through a CRM, an organisation is able to assume more control over its sensitive information by getting a close handle on permissions and workflows.
In a world fighting to adapt to rapid technological advancement, organisations are becoming increasingly more digitised. Customers are heightening their demands and expecting more from their service providers.
Modern systems offer multi-device, Cloud-based solutions which are accessible anywhere with access to the internet. Teams are ejected from the office, allowing them to edit and create new appointments, enter and manage new opportunities, add new contacts, make notes, raise quotes and review sales histories all remotely.
According to the findings of a Nucleus Research Report, 65% of sales professionals who adopted mobile CRM have achieved their sales quotas, while only 22% of non-mobile CRM enabled professionals reached theirs. Increased accessibility to CRM technology allows employees to become increasingly mobile, agile and informed, offering them the chance to better assist their customers, regardless of their whereabouts.
A modern, well integrated CRM could be the key to success for your business and the start of your digital transformation.