Find out what CRM can do to help you
A CRM tool can help you identify new sales opportunities. Joe Dysart reports in ABA Journal (2014) about a law firm that earned a surprising consulting fee of 50,000 Pounds because it was able to connect a client interested investing in a company with an attorney at the lawfirm who had a deep insight into the proposed investment. CRM systems enable similar connections to be made, and the potential for new opportunities to arise.
Businesses, non-profits as well government organisations, schools and even schools recognize the importance CRM. Recent statisticsshow that CRM is used by over 90% of organizations with at least 11 employees. Although the main benefits of CRM software are obvious, most people don’t know about the advanced benefits.
The 8 Amazing Benefits of CRM Systems
1. Save Time
You may think CRM is more time-consuming than your previous system if you are just starting to implement it or modify it. Many employees will complain about the increased workload and difficulty in data entry. In the future, what may seem like a long time of entering data into CRM will be a time-saver. Cloud CRM systems are particularly productive as field reps can easily update their CRM via mobile devices. Salesforce Cloud CRM users enjoy a 40% rise in sales productivity. Salesforce Lightning allows you to save time by sending emails and viewing LinkedIn profiles right from your CRM.
2. Motivate Employees
Many CRM systems offer the ability to set and track objectives. Salesforce and other CRM systems offer advanced graphics that tell the story of sales throughout the pipeline. These tools allow users to track the percentage of goals that have been achieved, pinpoint tasks that are most important, and project future results.
3. Identify Trends Before They Happen
Any sales data can provide a broad view of product and sales trends. These trends usually don’t become apparent until after a period has ended. Your CRM data can help you spot subtle changes in your market. Perhaps a particular demographic or region is showing a preference for a product. CRM lets you identify emerging trends, shift marketing messages and sales messages to capture these sales. Cloud CRM applications are great for spotting trends since the data is accessible from any device with an internet access.
4. Calculate Commission
Most accounting departments admit that they calculate the compensation of sales reps using spreadsheets or software. However, many CRM software can easily calculate compensation. Jim Dickie states that customers who use CRM Magazine (2010) should also use CRM to track sales reps’ compensation packages. CSO Insights Partner Dickie notes the fact that most companies don’t use their CRM for sales compensation. He says, “If compensation plans truly are meant to drive buying behaviour, then it is necessary to upgrade our systems to manage these plans.” Dickie (2) states that I expect many more companies to move their compensation management tasks into CRM applications.
Salesforce offers several compensation management apps via the AppExchange. (A marketplace of apps which can be easily integrated into your CRM platform), including the “Commissions Calculator.” This app is time-savings and more productive for both accounting and sales departments.
5. Create Business Strategy
Smart business leaders understand that CRM is not just for sales, but for all departments of the company. CRM should be the central focus of all business decisions, as CRM tracks so many vital tasks. Information from CRM is essential for all aspects of business operations, including scheduling, inventory, production, forecasting, accounting, marketing and scheduling. As businesses learn to harness the information in their CRM systems, they will be able make better, data-driven decision making.
6. Improve Internal Processes
CRM systems allow customers to be sure that their orders are delivered according to their promises. Denis Pombriant – a CRM analyst who also wrote The Subscription Economy – explains how CRM-based processes allow for exceptional delivery of products. “Modern crm, which is based on analytics, a decent model customer behaviour, and] gives a vendor an ability to zero in upon customers who really need it and at the time helps manage scarce resource,” Pombriant (3).
This will ensure that the customer receives what they need. This helps customers get what they want.