How to leverage CRM to increase the business?
There are multiple reasons for why you need to leverage the CRM in the right way. Some of them are: better productivity, higher revenue, enhanced user engagement, time and cost saving. Of course, stepping into the world of CRM for the first time and making it work isn’t always easy, that is unless you leverage the power of CRM rightly. Here are some of the ways:
Time when you used to predict whether the customer was interested in your product(s) based on your gut feeling is long gone. Time when you used to know if someone was interested in your service because they called your sales agent to enquire about it is also gone. Today, it’s all about the data. What pages did they visit? What articles did they read? What did they recently purchase? What promotion emails did they click on? What is the frequency of their visit to a particular website? These are the stats that drive your business.
Getting this customer data and turning it into actionable insights… it’s not creepy, it’s smart. It means that you care about your customers, “Let us help you on your journey of buying and lead you to make a smart choice”. This is especially important for growing business. CRM helps you collect all the information at a place acting as one source of truth. Having access to this doesn’t hand you a golden ticket to overnight revenue increment. This data should be continuously used and monitored to improve sales and marketing methods to improve deal close rates and increase customer value.
Accessing the data is one thing and sharing it across platforms is another. Both should go hand-in-hand. All the departments like sales, marketing, commerce and service must be able to collaborate and work on the data collected. CRM usually gives you the ability to create domain specific processes like Sales Process, Service Process, Workflows and other integrated processes as well. These processes can span the entire customer journey, even if you have multiple platforms. This can help automate most of the processes and you can free up your resources who can then work on the growth prospects and avoid waste
For instance, a Sales Process is special and aligns the goals of customers with their customer journey. This is about what your prospects need, what they prefer, when and how they want it. Then helping them make a safe choice. The existing process can be repeated for other prospects and scaled accordingly
Analytics is something that acts as an underlying force that every business runs on. One commonality between sales and marketing is that analytics revolve around lead generation in marketing whereas it’s deal closure in sales. Though a typical high end CRM provides you with a full fledged analytical functionality, it will also let you integrate third party analytical tools.
Plethora of organizations do manage to collect the data but fail to use it to the full extent. Tools provided by CRM will help you overcome this. They aren’t important just because they provide analytics, but also because they validate the data and analyses done by conducting statistical checks to verify that they are valid.
Whether you are not using a CRM or you already have a little bit of CRM implemented in your business, it’s worth investigating if the existing tools and software are holding you back. Since it is cloud based, scaling is one of the most important features offered by most CRMs. Whether you need a CRM for 50 users or 5000 users, with few selectable features or a full set of features, it can adapt with moments. This is the kind of flexibility that CRM brings to your business.
Like software development, running a business can get tricky due to the changing aspects to accommodate the current scenario. Thanks to cloud based CRMs, you can upscale or downscale at any given time depending on the business requirement. Running a business smoothly requires close to 100% uptime. An optimal CRM solution will have nearly 0 downtime and ensures consistent uptime all round the clock and provides seamless performance and feature upgrades.