Customer relationship management or CRM has the capability to transform your business model to offer exceptional customer experience. It can nurture your client base to procure the greatest revenue generation via effectiveness consumer acquisition and retention techniques.
An intuitive CRM system is one of your most valuable assets as it serves as your personal manager. It allows you to focus on the more productive aspects of running a business while it fine-tunes your customer satisfaction rate.
As a result, 87% of the organizations use cloud-based CRM to enhance customer relationship. The use of CRM software is not limited to large establishments. Approximately 91% of the businesses with as low as 11 employees now use the CRM system.
Therefore, as an entrepreneur, you can acquire tremendous benefits from integrating the tool in your company.
Here are ten surprising facts about CRM that are bound to compel you to incorporate the smart solution in your SME business:
1. Comprehensive sales pipeline view
A perceptive CRM tool allows you to monitor all your leads and their progression down the sales funnel. It also enables you to manage your loyal customers to determine if they have made a recent purchase or have been unengaged for a while. Consequently, you can employ reengaging tactics or customer acquisition strategies based on the wealth of customer data accumulated by the CRM software.
Moreover, you can analyze all your marketing campaigns to see which one was most influencing in incurring increased sales. You can identify the key marketing factors and replicate them to expedite your business growth.
Salesmate has an intelligent predictive algorithm that provides actionable feedback about the sales activities. It also offers a competent sales pipeline template to manage your customers’ buying experience.
2. Understand your customers
Consumers interact with your business through a number of channels including phone calls, emails, social media, etc. A well-managed CRM system helps you keep track of all your communications to provide a more personalized customer experience. It allows you to respond to each consumer query based on their buying history and personal information stored in your database.
Furthermore, CRM tools find their appeal amongst the entrepreneurs due to the vast data accumulation capabilities. Businesses can analyze the customer information to supplement various aspects of their organization including customer service, email marketing, and sales forecasting.
Nimble is another CRM tool, which provides comprehensive solutions to your contact management problems. It stores the customer data automatically and organizes them for ease of referral.
3. Ease of customization
Most CRM applications are constructed to supplement the efforts of all kinds of businesses, irrespective of size and industry.
Therefore, you can customize the entire outlook of most competent tools for seamless navigation. In fact, employees can tailor their user-interface according to their independent job requirements and the number of prospects in their pipeline.
Pipedrive offers a one-click system to manage the entire modules with a simple on-off button. Salesmate also provides a flexible layout to manage your various deal stages conveniently.
4. Manages vital data
As an organization, even if you are a small one, you gather a plethora of customer information. If you store this data in spreadsheets, notepad files, and similar documents, you risk losing it all due to file corruptions or system breakdowns.
A proficient CRM system keeps all your data entries secure, and cloud-based systems also enable you to access the information at any time and from any place.
5. Mobile optimization
Prevalence of mobile devices is widespread. Most business owners use mobile phones for managing their company. Similarly, sales representatives are no longer confined to their desks to fulfill their job description.
This is because the majority of the CRM vendors, including Salesmate and Nimble, offers innovative apps optimized for mobile usage.
Research also shows that 65% of the businesses who employ Mobile CRM often exceed their sales quotas. This is because they can keep up with the sales activities regardless of the geographical location.
6. Sales forecasting
Sales forecasting allows you to remain one-step ahead of your competition. Accurate and definitive prediction by CRM software provides you with critical data that you can utilize to prepare for future marketing needs and customer requirements. You can hone your product or service to remain relevant despite the changing buying habits of the consumers.
Your marketing team can also be proactive in designing strategic and effective campaigns for the future using CRM solutions. Consequently, your sales deal can close more teams thereby increasing the revenue generation for your organization.
7. Task tracking
As a business owner, you have a myriad number of tasks at any given time. CRM applications can function as your personal sales assistant as it can monitor various facets of business management. It can track the time it took for a lead to convert into a customer, or for a sales rep to complete a call as well as the effectiveness of the interaction. Your CRM dashboard can notify you of a new addition to your subscribers’ list or an upcoming birthday of a client. A welcome email or a birthday greeting can help you forge a deeper relationship with your customers.
8. Identify and acquire potential leads
Every company strives to expand their outreach and expand their customer base. The valuable data pertinent to buying histories, email campaigns, up-selling efforts, and customer retention techniques enables you to construct targeted marketing campaigns. You can use the personal information to attract a segmented demographic and encourage them to initiate interaction.
A study also revealed that 75% of the consumers prefer brands that incorporate personal information for an enhanced shopping experience.
9. Email marketing potential
Email marketing is one of the most efficient forms of attracting customers with an ROI of astounding 3800%. Tools like Salesmate have the potential to improve your email productivity. The system evaluates your email engagement rate so you can enhance the layout for better results. It allows you to automate generic emails like welcome, birthday and reengagement emails. Each email includes a personal touch to make your customers feel valued and appreciated. You can also send bulk emails to approach many prospects with a single click.
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10. Worldwide spending
Owing to its various innovative and brilliant functionalities, global CRM spending equals to a tremendous total of $23.18 billion. America and Europe alone are responsible for almost 79% of these spending.
CRM software offers immeasurable benefits to your business, especially in the customer experience, marketing, and sales sector. It provides you with a 360-degree view of your sales pipeline as well as an in-depth analysis of your customer requirements. You can use the deluge of customer data accumulated by the system to improve your marketing campaigns, sales forecasting and to enhance your customer experience. CRM also enables you to ensure that your sales activities are progressing as planned and acquiring you clients according to the quota. You can also monitor and evaluate the performance of your task force and marketing strategies using the intelligent CRM solutions.