Desktop email and calendar products like Microsoft OutlookTM were originally created as standalone products and have limited client and sales tracing functionality. That’s why even smaller firms with just a few sales people need a product that is built for sales, marketing, and customer support teams. [quotes]A CRM product is designed to provide the tools and information you need to grow.[/quotes]
In even a small business – not to mention a larger organization – single-user designed applications lack the ability a sales team needs to know what is going on with a lead or client.
Why having a CRM is important:
- Management doesn’t know what the sales people are doing at any time. They must rely on each sales representative to spend time generating weekly and monthly sales reports instead of spending that time generating sales.
- The marketing team doesn’t communicate with sales effectively.
- The communication between sales and customer service is poor.
When management embraces a process that includes a CRM to expand their business they will find growth is quicker, easier to forecast and track.
A CRM system setup properly based on your marketing, sales, and customer service processes can help generate increase sales conversions. Along with training all involved in the processes to be used, you will see a return in investment quickly.
Here are eight ways a CRM can help you build a better relationship with your existing customers and convert new prospects:
- Timely track closing new opportunities by easily reviewing past history of sales conversions.
- Quickly identify specific customer needs so you can respond rapidly and not lose the sale.
- Increase profits by upselling and cross-selling of related products to customers.
- Track your most profitable customers and target more of those prospects.
- Identify and reactivate lost customers so you can sell to them again.
- Get more referrals (warm leads) from your satisfied customers through better marketing coordination.
- Increase repeat sales by staying in-touch with your customers on a timely and consistent schedule.
- Retain new customers by following up with them and providing outstanding customer service.
A CRM will assist your company to identify and find new customers as well as discover potential new markets by giving you the tools and information on existing customer behaviors. [quotesright]Knowing more about your customers leads to increased sales, profits and a bigger customer base to expand your business. [/quotesright]
In upcoming articles, we’ll help you understand more about a CRM, see if it’s right for you, and know what to look for in one. You’ll also learn what to expect and plan for if you decide to implement a CRM.