A customer relationship management (CRM) solution enables a business to manage its relationships with current customers and identify new prospects with great efficiency. From campaign management and customer segregation to sale automation improvement and more, this software performs it all.
As many users have proven, investing in a modern CRM solution comes with several benefits for businesses of any size, and here are the most important:
Higher Sales Productivity
A CRM puts all important customer information all in one place. Want to know a certain customer’s last date of purchase? Or prospects to be sent follow-up emails? Or sales that have to be expedited? Maybe you want to see your business’ current level of social media engagement, or how well you’re doing on the sales front?
You can source answers to each of those questions and more while remaining within application. This helps increase your focus on priority tasks, ultimately raising your sales productivity. According to studies, majority of CRM users believe the software has created a tremendous positive difference as far as their sales functions are concerned.
Higher Customer Satisfaction
A CRM allows you to pull data from different sources and store everything in one spot, so it’s easier to get hold of information when needed. Through features that promote the provision of timely and suitable customer service, a CRM application can help you increase customer satisfaction.
Higher Customer Retention Rate
Research shoes just a 5% increase in customer retention can easily bolster profits by as much as 95%.
By giving you a better way to manage leads, narrowing gaps across different departments, helping you find new customers and automating the most routine tasks, a CRM contributes to a an overall efficient workforce.
More Effective Analytics and Reporting
A CRM serves as a central data repository, which helps eliminate the potential for miscalculations leading to poor business decisions. Modern CRMs allow you to make well-organized and insightful reports that make it easier for your teams to envisage the business performance. A customized main dashboard should reflect all vital data and statistics where managers can watch them at all times.
How to Pick the Right CRM
The worst mistake made by businesses planning to use a CRM system is that they are too concerned with assessing vendors and experimenting with various features that they forget to consider their unique needs and business goals. Before you start flipping CRM systems and vendors, pause and ask yourself these questions:
What areas of our business will benefit from the use of a CRM system?
What other software must be integrate with a CRM system?
How much can afford to spend on a CRM?
After answering the above, you should be ready for the next step: finding a good CRM and a good vendor.