The age of digitization has well and truly taken the world by storm, accelerated by the pandemic in the early 2020s.
Businesses have changed the most when compared to the 2000s. Everything, from advertisement and marketing to prospecting leads and managing them is being done differently.
The next big thing, that is growing more popular with businesses every day, is automation and digitizing sales processes. Here is where CRMs can truly take your business to the next level.
But wait. What is a CRM software?
A CRM is an abbreviation for Customer Relationship Management. This software helps businesses with lead management, marketing and sales process management to improve productivity and business efficiency. The software achieves this by using data analysis, computing, and predicting your lead’s preferences.
Now that you are more familiar with what a CRM is, here are some ways they can help improve your business.
A CRM can acquire and organize lead information flowing in from multiple sources, like emails, ad clicks, phone calls, etc. while ensuring there is no error in recorded information. Lead management involves capturing, tracking, qualifying, distributing, and nurturing leads. A CRM can do all these steps and more with minimal human intervention.
Furthermore, a CRM also helps your business understand where your customers are finding difficulties and helps formulate solutions accordingly.
Save time and resources
How much time do your sales reps spend selling versus doing menial tasks like entering data, copying down customer information, etc.? CRMs automate processes and save repetitive, boring, and time-consuming tasks. This means that your sales reps can focus more on the business end and contribute to your business’s revenue.
Also, since each sales rep can focus on more leads, you need to hire lesser staff to complete it. Therefore, you save your operational costs too.
Now imagine two salespeople, Sally and James. James has no clue about the customer he is reaching out to, blindly calls out to a person who has enquired about their website, asks about his or her needs, and tries to pitch in how the product helps them without knowing his caller’s history. James has little to no information about who, what, or where his lead is.
On the other hand, Sally has all the information about her customer. She knows when the best time is to call them, what the customer is looking for, what their problems are, how much interest is in purchasing the company’s product, etc.
Who do you think is going to sell better? Even with an untrained eye, the answer is pretty straightforward. It is Sally.
If a sales rep knows the problem, need, and what a customer wants from the company, it is easier to tailor the rep’s pitch and close out deals faster. CRMs give your sales agents the power of information.
Find higher-quality customers
Every person that visits your sites or takes a look at your products might not be interested in purchasing them.
Pinning down customers more interested in your products than the rest means that you are more likely to sell your products to that individual. This not only saves your sales reps tons of time but also helps you improve profits very quickly.
CRMs have a lead-scoring system that helps determine, through engagements, how interested your customers are. The higher the lead score a customer has, the more likely they are to buy your products.
Improving Customer Service
CRMs track all necessary customer information, which helps empower your sales team. Knowing your customer well means knowing how to handle them, what product changes will make them happy, what discounts they will be more likely to buy at, etc.
Knowing your customer means that you understand their areas of interest so that you can send more targeted campaigns. This will also open opportunities to upsell and cross-sell as well.
Another way CRMs improve your business outcomes is by anticipating the customer’s needs. Customers whose problems are solved before they bring them up are more likely to stay than if they need to bring up issues, they face each time they use your platform. This information will also help improve your customer’s lifetime value as well.
Here are some ways CRM can help improve your business immediately. But choosing the right CRM can be very tricky. Here is a CRM buyer’s guide that can help you start choosing your right CRM today!