Managing customer relationships is the key to success in any business. But it’s not an easy job to find customers. Even more, once you’ve built a customer database, you need to tackle another challenge – establish and maintain strong relationships with them.
To handle thousands of contacts and follow up on leads while keeping an eye across your company projects, you need more than spreadsheets. The solution might be implementing a SaaS CRM software where you can keep this information accessible in one place.
That’s what Customer Relationship Management tools do- help companies manage interaction with customers or potential customers, track and coordinate all related work done across the organization.
Benefits of Using a CRM for Your Business
Implementing a CRM solution to your business might solve different problems in contact management, sales coordination and building business relationships.
How exactly does a CRM help you establish a relationship with your customers? It gathers all the customer information you have in one dashboard. There you have centralized data about companies, sales, customers and projects. This will help you to:
- Keep updated contacts and leads database
- Track prospects and all communication, pitches and proposals to them
- Accumulate and analyze sales data
- Personalize the approach and activities to each lead or customer
- Understand better your customer needs and address them accordingly
- Improve secondary sales and work for customer loyalty
- Cross-selling of products by suggesting alternatives if applicable for your business
Not long ago, there was a common opinion that CRM software is a privilege for large organizations. However, with the rise of cloud services and SaaS solutions, implementing a Sales CRM makes it accessible for businesses of all sizes.
What About the Management Team?
Managers operate at the higher levels of organizations and have tons of responsibilities – from working internally with different teams to keeping track of clients and prospects and managing various projects across the company. Being overwhelmed, they could lose track of the day-to-day communication on all accounts and miss sales opportunities.
Implementing a CRM software could support them in staying up to date, creating or adjusting sales strategies, and ensuring the business objectives are met.
Let’s see what else a customer relationship management software can do for your company and how it can support your management team in their daily tasks.
1. Plan and Track Your Business Growth
A CRM gives visibility on tracking activities of sales representatives and interactions with leads and clients. Management can handle prospects and stay up to date with all communication with them.
This is directly related to business growth as the managers can help monitor the whole sales funnel and think of ways to optimize processes for more sales.
If the company leaders don’t have visibility on the whole sales process and keep the data for each client on different spreadsheets all over the place, it is impossible to track and analyze the interaction with clients and could jeopardize the whole business status.
If you are willing to try out a CRM for your company there is a solution you might like- Sales CRM software. It will support you with the following features:
- Companies – You can add a total number of companies you work with.
- Customers – You will be able to add your clients, vendors and partners.
- Sales – Monitor activities and access reports where you get useful company insights.
- Projects – You can manage your projects and their status, set deadlines or project milestones.
2. Optimize Performance Across Teams
CRMs make it easier for management teams to track their teams’ performance. This is more than important when working with leads and clients. Managers can have visibility on the whole process of capturing, nurturing, and converting leads into customers.
The Sales CRM will improve the team performance in passing a lead from one team member or sales representative to another. This will enhance customer communication and support and it will motivate the team in their efforts to keep customers satisfied.
Having visibility on your teamwork, you can identify issues across teams or communication problems that can be solved on time and optimized. Also, team leads are supported by any data they need, in building personalized approaches to clients, which eventually brings more sales.
3. Supports the Sales Team in Closing Deals Faster
According to Salesforce, sales productivity can increase by up to 34% thanks to a CRM. Having data in one place in combination with fast collaboration across teams can help management make data-driven decisions and salespeople close deals faster.
You will cut down the time for updating databases and managing prospects so you can focus on sales instead. Besides, using a CRM, you can build a standardized sales process with clear steps.
When you design a sales process you will be empowered to:
- Analyze and improve your sales approaches and methods
- Forecast your sales
- Onboard easily new sales people
- Improve the customer experience
You will have visibility on those steps and optimize them over time.
4. Improve the Return on Investment of Your Business
According to Nucleus Research, CRMs return $8.71 for every dollar spent. To better understand if investing in your CRM is worth it, you need to take into consideration the following expenses:
- The price of the software you are using
- The time your team spends with the CRM, compared to other data management options
- Training time and costs
The return on investment of your CRM can be also evaluated from different angles:
- Improving team productivity and especially in sales departments
- Saving valuable time
- Optimizing sales and project management workflows
- Setting up goals and tracking if they are met
- Having all customer data in one place
It is really easy to notice when the CRM works for your business: there is an increase in sales, sales team performance has improved, all data is accessible and updated, customer satisfaction has grown.
Wrapping up
Although implementing a customer relationship management system for your company requires an initial investment of time and effort, it is worth considering.
With a CRM, you not only build relationships with your most precious assets – your clients – but you improve communication across teams, boost productivity, and increase sales.
With DX CRM sales software could help your service or project-based business grow over time. Your management team can have a better overview of the company and find insights for future growth strategies.