Learn what a CRM could do for you
CRM helps to increase sales by identifying new opportunities. Joe Dysart reports, in the ABA Journal (2014), that a law practice earned a 50,000-pound consulting fee because of their ability to make connections between a potential client interested in investing and another attorney. The other attorney happened to be an expert in the investment. CRM systems make it possible to make similar connections, which can lead to new opportunities.
The need for CRM is recognized by most businesses, government organisations, non profit organizations and schools. The latest statisticsestimate that more than 90% use CRM in companies with 11 or fewer employees. Although the benefits of CRM programs seem obvious enough, most people are not aware of the many additional benefits.
8 Unexpected Benefits of a CRM Software
1. Save Time
Your company might feel like CRM is taking too much time to change or implement. Employees might be unhappy about the apparent increase in workload and data entry. While it seems like a lot to do with CRM data entry, it will soon be a massive time-saver. Field reps can use their cloud CRM system to manage their CRM wherever they are. Salesforce Cloud CRM users can see a 40% improvement in their sales productivity. Salesforce Lightning is a time-saving feature that allows users to view LinkedIn profiles and send email directly from their CRM.
2. Motivate employees
CRM systems often allow users to set goals and track them. Salesforce is one of the CRM programs that allows users to visualize the sales pipeline. These features allow users the ability to see the percentage achieved goals, to determine which tasks should be concentrated, as well as to predict future results.
3. Be a Trend Identifier as They Happen
Any sales data may show a broad picture regarding product trends and sales. But, most trends don’t emerge until reports are run at a specific time. With CRM data, you can detect subtle shifts within the marketplace. Maybe a certain demographic or area is showing a preference in a product? CRM allows you to spot these trends and adapt sales and marketing messages so that you can capture the sales. Because the data is always available from anywhere with an internet connection, cloud CRM applications can be particularly useful for spotting emerging trends.
7. Identify At-Risk Customers
Your company’s sales will come mainly from current customers. Therefore, it’s vital to keep track and record each customer’s past history. A CRM tool will help you find customers who have called multiple times, made fewer orders than anticipated, or left longer orders between calls. This is a red flag for dissatisfied clients. This will help strengthen relationships and resolve any problems.
8. Get customer-focused
Customer relationship management is the best name for it. CRM software allows you to track customer information such as orders, conversations, and helpdesk queries. All of this information is available to you so you can have a smooth conversation with your customer. This allows company representatives, instead of trying to recall facts and interacts, to focus on the customer.
CRM systems, when used properly, can allow you to better focus your business around the customer. CRMs allow sales teams to organise customer data in a way that is easy to use and allows for actions.
Marketing, sales, purchasing, inventory, and customer service must all be focused on the customer. This transformative philosophy will ensure that your business takes care of those who are most important to you. A CRM system has the greatest benefit: It reminds you each time you log in to it that the customer is the heart of your company.
2. Motivate employees
Many CRM systems enable users to track and set goals. Salesforce CRM software has advanced graphics that show the sales process through the pipeline. These features let users see how many goals have been met, where tasks are concentrated, and what the future holds.
Recognize Trends As They Happen
Any sales data could show broad trends in sales. However, these trends rarely become evident until reports are run at end of period. You can track subtle changes in the market with CRM data. Perhaps a specific region or group is showing preference for certain products? CRM can help you spot emerging trends and change sales and marketing messages to capture them. Cloud CRM applications can help you spot trends as they are available on any device that has an Internet connection.
Most accounting departments will tell you that sales reps are compensated using accounting software. However, most CRM programs can calculate compensation. Jim Dickie argues that companies who use CRM for customers need to also use CRM to keep track of the compensation packages of their sales reps. CSO Insights partner Dickie points out that most companies don’t use their CRM to track sales reps’ compensation packages. “If our compensation plans are really meant to drive selling behavior, then we should upgrade the systems that we use to manage them,” Dickie said. Dickie (2) explains that she expects more companies to migrate their compensation management tasks to CRM applications.
Salesforce offers compensation management apps via its AppExchange (a marketplace for apps that integrate easily into your CRM platform), such as the “Commissions Calculator”. The app can be used to save time and increase productivity for sales and accounting departments.