A customer relationship management (CRM) solution enables a business to manage its relationships with current customers and identify new prospects with great efficiency. From sales automation enhancement to customer segmentation and more, this software takes care of 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:
More Sales Productivity
A CRM gathers all essential customer details in one hub. Want to know when a particular customer last made a purchase? Or people to send follow-up emails to? Or sales that have to be expedited? What about the current level of your social media engagement or how your sales are doing lately?
The answers to all such questions can be obtained without leaving the software. This helps you maintain focus on priority tasks, which ultimately leads to higher sales productivity. Based on research, most CRM users believe the application has made a dramatic positive difference in their sales functions.
Greater 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.
Better Customer Retention
A mere 5% improvement in customer retention can raise profits by 25% to 95%, according to a study.
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. Through a modern CRM, you can build aesthetic as well as insightful reports too, helping y our staff visualize 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 thing that companies make when deciding to implement a CRM system is focusing too much on finding a vendor and trying on different functionality, without even knowing what they need and what their goals priorities are. Before reviewing CRM systems or vendors, take time to ask yourself the following:
What areas of our business will benefit from the use of a CRM system?
What other software must be integrate with a CRM system?
What is our budget for a CRM?
After answering the above, you should be ready for the next step: finding a good CRM and a good vendor.