You expect the customers to contribute to the net profit of your company. But, what are you giving them in return? Are you succeeding in offering the satisfactory results that they deserve for the precious dollars spent? Building customer loyalty is pivotal to a company’s growth and profitability. However, loyalty hinges on customer satisfaction, which is influenced by the value of service provided. Failure in building customer loyalty and meeting customer expectations can have a significant impact on your business revenue. Which is why you need to optimize the way you sell and change your approach towards your customers.
“When you can show concern about what matters to your customer, that’s business to customer loyalty, and you can bet on it, you’ve just acquired a customer for life” — Albert Houtum- Schindler
Every customer has unique needs and requirements. To garner customer loyalty, you need to address those requirements successfully and provide utmost customer satisfaction to your clients. Without the right software in place, building healthy customer relationships and delivering cent percent satisfaction can become challenging. Therefore, powerful software like CRM is essential. It takes you closer to your customers and helps sales teams in achieving the desired sales results
CRM has the potential to accelerate revenue by 41% per sales personnel. (information source)
The core — what is CRM?
A customer relationship management (CRM) software is an all in one sales solution that brings a host of capabilities together. From managing sales to analyzing it and forecasting the opportunities related to each deal, everything can be done from this smart solution. Just as a map helps describe the context of a journey, CRM helps companies in identifying the best route to sales success. This advanced tool aids in establishing and maintaining lasting bonds with customers.
With a CRM software, you can have a central place for all your customer information and interactions they had with your company. It helps in converting potential prospects as well as aids in maximizing the lifetime value of existing customers. Besides, the CRM solution breaks the wall between the sales reps and helps in maintaining transparency within the sales team. It provides a 360-degree view of what’s happening in the organization’s sales. It facilitates effective communication and accountability in the sales teams.
The below image displays the benefits your company can by implementing a CRM:
Statistics that prove CRM is a powerful technology
- 75% of the sales managers said that a CRM could be a beneficial tool in boosting sales figures
- CRM increases sales by 29% and sales forecast accuracy by 24%
- CRM offers an average ROI of $8.71 for every dollar spent
- 65% of sales reps who adopted the mobile CRM could hit their sales quota
Why is CRM important for your business?
Many opportunities are lost when sales and customers relationships aren’t managed efficiently. A CRM helps in maintaining a balance between a company and the customers. It keeps you informed at all stages of the sales cycle and helps you in tracking the progress of each deal in your pipeline.
Let’s see what a CRM can do and why is it important for your business:
1. Improved customer centricity
Customer centricity is essential for winning more business. Customers should be the central point around which all the thought process related to your business must revolve. Customers want to deal with businesses who understand them and their unique business requirements. So, you need to step into the customer’s shoes and have a customer-centric approach.
A CRM supports this customer-centric approach and aids in delivering an experience that the customer remembers and tell others. It helps in keeping a track on the entire customer journey for providing best-in-class buying experience. It aids in personalizing each interaction for ensuring the potential buyers that you are here to address their specific needs. You can easily view the entire communication history at a single glance. Emails, notes, interactions, and appointments; everything is streamlined on one interface. A CRM allows you to set reminders for reaching the customers in real-time.
2. Better product management
More the products greater the complexities. A lot of time is wasted in treading through various sources for searching and collecting product details. Isn’t it better if you get all this information besides your deals?
CRM gives you a unified view of everything you sell. You can add multiple products and services to the deal in a CRM and manage them efficiently from one place. It allows you to describe your products, add images and set prices to ease your selling. Currencies can be changed in CRM for targeting buyers from different countries. You can instantly calculate the best discount price for your product without any hassle. A CRM helps in finding out which products are capturing the attention of your customers. It allows you to track and maintain records of each product. You don’t need to spend hours searching for any specific details. It allows you to add tags for sorting and finding whatever you need.
3. Enhanced customer support
Customer support both during and after sales plays an important role in determining the experience a customer had with your business. The faster your reply to the customer, the better impression you can make on them. But, most of the time due to a wide number of tasks to handle your sales reps can’t reply on time. This delay leads to ruptures in a customer-business relationship.
Thankfully with shared team inbox of a CRM, this can be avoided. Your team can collaborate and provide faster response to the clients. With a shared team inbox, you can rest assured that there is always someone to address the client queries. The entire communication is streamlined at a single place in a shared team inbox. So, any member of the team can refer to and assist the client in the absence of the other member.
4. Increased productivity with a more organized environment
A sales rep performs many activities daily to engage and nurture clients. Like sending newsletters or reminders for the upcoming meeting. Such day-day to tasks can be automated within CRM software. You just need to set some predefined rules to trigger automated action.
It’s a faster way to get the work done that too without worrying about errors. You don’t even need to spend time finding information about your prospects on different social sites. With a CRM’s profile enrichment feature, you can get the information fetched automatically and get instant access to an updated customer profile.
5. Better sales rep-customer relationship
How are your sales reps treating your customers? You can find this out within a CRM. The modern CRM is powered with a built-in virtual phone system that allows you to record all the sales calls.
You can listen to the recorded calls to provide feedback to your sales reps for improving their relationships with the customers. The recorded calls can also be used to train the new reps for understanding your business tone and the message that needs to be conveyed. Besides, with insightful reports, you can monitor the performance metrics of your sales teams and highlight the areas of improvements.
Wrapping up
A CRM can be an asset for your business if you make the most of its useful features like contact management, deal management, sales automation, shared team inbox, and sales forecasting. However, you need a CRM that makes it easier for using these features. You shouldn’t spend your precious time learning the software. For instance, Salesmate has a simple interface with a self-explanatory dashboard. So, you can use it and leverage the benefits of its excellent features.
We welcome you to Salesmate. An effective and most liked CRM for small businesses! 🙂 A subtle yet systematic and intuitive sales intelligence-based CRM that provides high quality service without blowing a hole in your budget. Want to know more? Start a free 15-day trial, today!
