As a business, when you invest in a CRM system, you expect it to perform the way you anticipated so that you can have the desired return on investment (ROI). CRM systems are an asset, but they also are expenditures that you have paid for. Any business will expect that the money they have invested in buying a CRM system should contribute more towards assisting their sales and hence increase the profit.
What does a CRM do to boost your revenue?
- Helps you get and retain the customers who will make continuous purchases,
- Enables you to increase the number of purchase made by customers and increases the average value of the purchases made by them.
However, the statistics say something else. Around 10% business executives said they were satisfied with the way sales were getting handled after CRM implementation, and 90% believed that they are not utilizing their CRM which can do much more.
What can you do in such cases?
A CRM system is developed to be your assistant not just to help you retain your customers but also to help you with your sales activity that will boost your revenue. So, as a business when you are thinking about using your CRM as a money minting machine then fret not because it can do that for you too.
Your data is a raw gold mine
Your CRM is a warehouse that stores essential sales data for you and processes it when needed. This data is a natural gold mine and keeping it up to date is the key to increasing your customer reach and ultimately your revenue. With the right type of data, you can;
- Target specific customer segment,
- Focus on the customers that need your services,
- Stay in touch with customers and prospects so that you can successfully retain them and keep the cash flowing in.
No need of having bulky spreadsheets
So, you might be using various applications for managing the records of the daily sales activities, customer information, and the overall revenue. After such laborious work, you will upload this data to your CRM system for keeping it safe and secured. However, CRM system easily handles all of this.
To ease your team in using the CRM system, you will need to leave the notion of spreadsheets usage behind. The best thing about using CRM system is that it can process the stored data and give you any required report on the spot.
For example, your sales pipeline report. Most of the companies who use CRM system still use spreadsheets to crunch the numbers. Once you migrate to using a CRM system, the pipeline view in your CRM will have everything enlisted with their value, such as the opportunities, quotes, potentials.
Apart from all this, the CRM system also has the percentage probability of deal closure and the name of the people associated with the various deals. The details of the last meeting and scheduled follow-ups are also mentioned.
All these features help you save ample amount of sales time, and when you have more time in your hand, you can make more sales.
Have the right tools
Unsorted data is not advised for a healthy business because the decisions based on such data will only create disaster for you. The business data gets collected from numerous sources and applications that are used for running an organization, so this means processing and analyzing these data are going to be costlier for you.
Businesses today have taken the smart route and invest in the latest tools and technology that provide them with the option of collecting and analyzing quality data. Transferring all your data into a CRM is a very cost-effective method.
Use Workflow Automation
The world today has seen many technological marvels be it the driverless car or the fascinating AR/VR or interaction with artificial intelligence (AI). Companies today are finding ways to cut down on the human labor for saving time and enhancing productivity because they know that is how they can make the most revenue.
Today the CRM technology has also moved a step ahead. Features like workflows and alerts have made the life of a Sales manager easy. The automation features help your sale team in speeding up the entire sales process, enabling the support teams in handling the customer requests promptly and responding to them proactively.
Once you create a workflow for finding the data of customers who have not been reached out yet, the CRM system looks into the database and mails you the list. This helps you stay in touch with every customer.
Imagine what else can be achieved here. You can automate
- Lead assignment to your sales reps,
- Process of checking open opportunities
- Redirecting customer requests,
- Follow-ups after attending the meet-ups and seminars, and
- Quickly interact with the new customers by sending them an automated ’’welcome’’ email.
Although these actions are not impacting your sales process directly, they are indirectly making your process quick and enhancing the productivity of the team; the result is a rapid flow of revenue.
Integrate Your Apps
CRM system should be the beginning step of the various sales and marketing activities planned for your business.
Although, traditional CRM system does not carry out all the required functions of your business. However, that does not matter.
A cloud-based CRM can help you integrate with various other applications that are outside the CRM arena. The CRM vendors today have created integrations between CRM and these third-party apps that help you in running your business smoothly. These cloud-based CRMs do not hurt you financially, and apart from being an on-the-go system, they boost your productivity helping you make an excellent financial advancement.
What should a business (startup, SMB or traditional) do for maximizing their chance of earning better ROI and flourish in the market with a better revenue? It will seem unbelievable but picking a cloud-based CRM is the best option. They do not blow a hole in your financial budget and provide you with numerous services that make you save many resources and more importantly, your money.
Salesmate CRM integrates with various applications and provides an in-depth analysis of the data. It creates reports that help businesses in making better data-oriented decisions.
If you are out there in the market for building an empire, it will not happen overnight. You need a CRM system that can assist you with an incredible sales and marketing tool and stay with your business, adapting and learning as the market changes. Want to know more about CRM, just drop by anytime, and we will be glad to help you out.