It seems every company and business magazine sings the praises of customer relationship management (CRM) systems, but what do they really offer businesses, and what kind of ROI will you see? According to Nucleus Research, CRM pays back $8.71 for every dollar spent. The investment is relatively small when you consider how far you can scale your business with a CRM.
Are you curious about using CRMs in your business but aren’t sure how to make the most of them? Here are six reasons why they are worth investing in and how they supercharge your sales process.
1. A CRM empowers your remote team
Sales teams have always been on the go and working with clients in the field. However, 2020 ushered in mainstream remote work for just about every industry. In order to maximize customer data and analytics, your sales team needs an intuitive and easy CRM system to work with. Infor CRM empowers your remote team by helping to manage leads and opportunities, and make analytics-based decisions from home or on the road.
2. You can watch customer trends
Your company’s success relies on leveraging customer trends and seeing what spurs more sales. Customer-centric companies are also 60 percent more profitable than companies that aren’t, according to Deloitte research. Your CRM system provides data to see when your customers are likely to buy, what marketing campaigns work and when you lost a sale. The more you can see what motivates a customer, the more you can amplify your sales cycle and revenue.
3. A CRM can automate your marketing campaigns
CRMs can help automate marketing campaigns from an e-mail nurture sequence to scheduling e-mails for your existing audience. You can also create an evergreen sequence to deploy every time someone signs up. As you refine your marketing campaign and are ready to release it, your CRM does the rest. You free up more time for your team to focus on selling instead of marketing.
4. Automate sales forecasting
Instead of trying to piece together the puzzle of sales forecasting on your own, a CRM system can pull the data together for you. Your company can plan more efficiently and with greater detail than using generic data, like spikes in the holiday sales season. The sales forecast shows how much your company intends to sell and helps manage inventory, time and resources.
5. Improved customer service
CRMs help improve customer relations by offering more detail about who you’re selling to. Using analytics and sales history to see what they typically buy, where they live and what industries they work in helps boost customer interaction and improves your relationships. You end up selling more to satisfied customers and also improve the customer retention process.
6. Your company stays competitive
Companies that neglect their CRM or decline to use one altogether aren’t staying competitive in their industry. The companies that do utilize their CRMs, though, understand that they can unlock analytics, forecasting, marketing and automation that help improve and scale their business. By not using a CRM, you could be leaving money on the table.
CRMs empower your team to work more efficiently and sell more at the same time. The only real downside to CRMs is not using one while your competitors are consistently growing their businesses around you. Get your CRM up and running today to start nurturing your customers and increase your sales this year.
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