March 13, 2018
The benefits of a CRM platform are extensive and can fuel your very own digital transformation project, but just how does it do it?
Newer, Cloud-based solutions are accessible anywhere with an internet connection, often coming with special apps that make recording data on-the-go easy and enable your teams to execute key functions, such as raising an invoice or escalating a support query, whilst in the field. Not only does this open-up efficiency and new modern workplace initiatives, research done by InnopplTechnologies showed that 65% of sales people with mobile access to their CRM met their CRM quota, as opposed to 22% when they didn’t.
Key benefits: increase productivity and revenue, as well as enhance staff’s roles/working environment.
With a central repository for all of your lead and customer information, you’ll have a complete data-set, enabling you to spot patterns, group individuals and create plans and strategies that address their needs, as well as get a better handle on current and future performance.
Key benefits: sell more, reduce churn, and improve forecasting.
By being able to identify and track the behaviours of your prospects and customer across every touch-point of your organisation, and then tailor interactions based their individual needs or desires, enables you to meet individual customer needs. This improves the customer experience and helps you to prioritise high-value customers or prospects showing key buying signals to your sales team, ensuring that you don’t miss out. This has a tangible impact on the bottom-line, too, as 70% of a buying experience is based on the way that a customer feels their being treated [McKinsey] and according to Defaqto, 55% of customers will buy from an organisation that provides a superior service.
Key benefits: increase revenue, enable automation, and facilitate personalisation.
Well designed and implemented CRM platforms provide easy-to-use interfaces that are able to handle multiple variants which are customisable to each individual user types. For example, your Accountant will need different information than that of your Sales Manager on a day-to-day basis. Therefore, adopting a platform that can prioritise the information that’s at the top of a page and remove that that’s just getting in the way will improve the way that each of your CRM users utilise the platform, making it more likely that they’ll fully embrace and maximise the benefits offered by it.
Key benefits: make it easier to use and increase efficiency.
By integrating your CRM platform with your wider technology suite, you’ll be able to utilise the insights held within each to direct and improve the function of each. Not only that, integrating your CRM to some technologies will add additional capabilities to each, enabling you to get the most out of both product and enhance the ROI that hey all deliver to your organisation.
Key benefits: maximise ROI from technology investments and unlock additional functionality.
Modern CRMs come with all sorts of inbuilt reporting modules and dashboards that will enable you to get clarity on all of the information that’s available to it. This will not only enable you to get a clear view of your sales and marketing funnel, you’ll also be able to report on how your operations team are operating and spot problems before they arise.
Key benefits: improve forecasting, spot problems before they occur, and identify trends.
Not only by getting a better view of how things are operating, you’ll be able to set up new, customised workflows (automated or not) and adopt streamlined, trackable processes that shed light on how your organisation does what it does and find efficiencies through reducing manual input or unnecessary steps.
Key benefits: increase efficiency and reduce manual input.
By shedding light on how customers and prospects are truly interacting with your organisation by sharing information from previously hidden sources, utilising personalisation and automation features, guided selling, giving accurate lead tracking and success metrics, as well as providing the tools to enhance your follow-up (among other things) you’re going to able to succeed and grow. By how much? A study by Nucleus Research [https://nucleusresearch.com/research/single/crm-pays-back-8-71-for-every-dollar-spent/] has shown that for every dollar spent on you CRM, it could return a much as $8.71 in sales revenue. An additional study by Nucleus Research [https://nucleusresearch.com/research/single/data-accessibility-for-sales-teams-shortens-the-sales-cycle/] has also shown that improving sales’ access to customer data can shorten their sales cycle by 8-14%. What are you waiting for?
Key benefits: increase sales, attribute ROI more accurately, enhance customer experiences, and add consistency.
SaaS solutions provide medium-sized organisations with access to the same platforms as that of enterprises. This means that they can benefit from the high-levels of investment and ongoing optimisation that comes as a result, but do so for a lower cost that would be entailed from running, supporting and upgrading a self-hosted platform. Additionally, there may be supplementary tools that your organisation…is currently using that’s functionality is inbuilt into a modern CRM, thereby allowing you to reduce the number of platforms that your organisation is utilising.
Key benefits: reduce expenditure and support future growth and investment.
Through adopting an integrated, modern CRM platform, you’ll be able to utilise the automation and additional data capture features available. This not only has many of the benefits listed above, such as providing you more information about an individual which you can use to personalise their experiences when interacting with your organisation, but will actually reduce errors and save the time that’s currently being eaten up by staff having to look in multiple systems, escalate issues or by manual effort -as well as in fixing broken connections and outdated functions. These saving can then be reinvested into something that drives a return for your organisation.
Key benefits: fewer mistakes and redirected efforts to benefit-providing activities.
Collated together, these benefits will all trickle down into time and financial savings, as well as an increase in customer retention, satisfaction and sales conversion.
Get in contact with Superfluid today to find out about how we can help you to use your existing CRM or help develop and implement a new platform to benefit your entire organisation.