Customer Relationship Management (CRM) has proved to be an efficient business tool, as of 2018, 91% of companies with more than 11 employees use the software. It is easy to see why: 65% of sales reps who have adopted mobile CRM have achieved their sales quotas. While only 22% of reps using non-mobile CRM have reached the same targets. CRM can do that and much more. Here are 10 benefits your business can acquire by incorporating CRM as part of its operations:
- Improved Contact Management- A contact management system holds all recorded calls and interactions with potential and current clients for company employees to access.
- Collaboration with Teams Across the Board- Extensive knowledge from longstanding team members can be combined with the CRM system thus enabling teamwork. Team members can be assigned to areas where they can be the most productive and helpful.
- Increased Productivity- Unnecessary administrative tasks are cut out to increase productivity and improve time management. Initial engagement with the customer is automated to test effectiveness. Statistics have shown a rise in productivity of around 15%.
- Stronger Sales Management-Can provide teams with real-time updates, analyze the strength of its relationship with customers, evaluate the potential of acquiring new deals, and any monitor any sales related activities.
- Precise Sales Projections-Real-time gives a single governing projection making it easier for sales managers to be on the same page and move forward with sales related decisions based on the communal forecast. Forecasting is comprised of historical data and predictive analytics sourced from insightful big data.
- Dependable Reporting- Regular reporting systems improve production quality and save time by cutting out the time-consuming task of manual spreadsheets.
- Upgraded Sales Metrics- Acquire insights regarding sales conversion throughout the entire sales journey. Gain new leads for more business opportunities. 74% of businesses surveyed stated that CRM software has improved their access to customer data.
- Greater Customer Satisfaction and Retention- Knowing when and where there is a problem allows your business to fix it quicker and avoid dissatisfaction. Eliminates customer frustration that is usually created from excessive department transference.
- Boosted Marketing ROI- Provides the marketing team with enough intel to use its budget in a more cost-effective manner. Marketers are investing a considerable amount of its budget on email strategies because of its consistently highly-rated ROI – a $40 return on every $1 spent.
- Better Products and Services- Information is obtained from a wide variety of sources and can be used to improve products, services, and close the gap between the business and the customer.