Anyone who has worked in sales knows how much a CRM can be of help. Be it keeping records, accessing customer data or tracking inventory, a CRM software can do a lot. It is like an extended arm of sales personnel. CRM software is that catalyst which can really drive growth in your organisation only if you use it smartly or it is just a burden on your sales team.
Here’s how to make CRM work wonders for you:
- Faster customer on-boarding
On-boarding a client is an important phase for any company when it comes to client relationship. After the deal is signed and a team is allocated to the client’s project, sales team does the handover of the client to the implementation / delivery team. It is over here that major clashes happen because if there is no co-ordination between the sales and the delivery team, they may not be able to serve the client better. With a CRM, the delivery team can be a part of the whole cycle from the point where the chances of lead conversion is high by going through the sales data available in the CRM against the client. The DT (Delivery Team) will be aware of the requirements of the client and will need shorter handholding time from the sales team. This also benefits in closing the sales faster as the DT can intervene when the sales team hits a blockade regarding the product.
- Bridge the gap between outgoing and incoming sales personnel
Sales is a stress-oriented and dynamic job centred on targets and goals. It is hence, natural that there might be high turnover and movement of sales personnel from one company to another. In such cases, clients are the ones to suffer the most. If the handover has not been done properly, the new sales personnel will eat up huge amount of time to get himself acquainted around. A CRM system in such situations is a boon, as all data including call data is available at fingertips if maintained religiously into the system. The gestation period is lesser here and minimal risks of data loss.
- Market trend analysis
Management is usually concerned about how to meet sales and profit targets with a new product. The first step could be publicising the features and specifications of new product externally. Besides, you can conduct customer surveys and jot down their reviews/feedbacks about the product into CRM database. Customer feedbacks may include appealing features of competitive product. Do not dump the rejected ideas, since it could be beneficial in future. Moreover, Customer relationship management tool can be of great benefit to R&D personnel, as they can also access and search the needed information in the communication that the sales personnel has had with the client in the past. E.g. If a number of leads has been closed due to low budget, management can evaluate the authenticity of the same and introduce a low budget option to cater to that market.
- Efficient integration and record of time spent per lead
Prospecting leads is in itself a quintessential process. There is a lot of investment done towards a lead that includes marketing, sales, inside sales, demos, etc. Hence, every company needs to streamline its practices and prioritize efficient lead generating and converting process. With a CRM solution, the management can keep a record of all the leads and importantly the time spent in converting those leads. It includes keeping record of all the communication, visits and after call integration, the total call time for leads. This helps in calculating ROI on effort basis also which is usually not taken into consideration.
- Calculate ROI for marketing and sales separately
Marketing is slowly becoming an investment inductive taking the centre stage. While there is a thin line between sales and marketing and functions of which often tend to overlap each other, the ROI of them both needs to be measured separately and in different metrics. While in sales, the ROI is simple centred on the number of leads and sales, but in marketing, it is a bit more complex.
Branding is an essential part of marketing, but the result of such activities is not derived directly. In many cases, branding is simply about how many audiences have you managed to reach. Management needs to motivate and consider such ROI, because they are the steppingstones for the brand. Marketing campaigns can be run right from the CRM software itself, thus making it easier to capture the response and extracting the reports for the management to analyse it.
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