More Prospects, Better Leads, & Faster Sales – Here’s Why You Need a CRM System
A Customer Relationship Management (CRM) system is an essential marketing tool because it enables you to manage the business relationships you have with customers effectively. Indeed, a CRM enables you to focus on your firm’s relationships with suppliers, colleagues, and much more.
When you have a solid CRM system in place, you have a storage unit for the information of leads, as well as the interactions you have with prospects which can include phone calls made, emails sent, inquiries received etc. Imagine a situation where every question, service request, preference and past contact details of customers were at your fingertips. With a CRM system, you can have it all, and then some! As well as helping you keep existing customers, a CRM puts you firmly in control of the sales funnel.
Keeping Control of Contacts
If you don’t have a CRM and your business is growing, chaos is guaranteed to ensue. Any half-decent CRM system will have a Contact Management tab which helps you manage the contact details of prospects. It’s a good idea to ensure that your top salesperson doesn’t have sole access to this data because if he/she decides to leave and take this information with them, your firm will suffer.
It should go without saying that you need a scalable system that grows to meet your company’s needs as it expands. Think of the benefits associated with keeping the same system even when your business grows from 40 customers to 20,000! Staying on top of your contacts list is essential because every time you interact with a lead, you gain valuable information which can eventually be used to generate sales.
Recent research shows that 74% of CRM users believe their system offers better access to customer data. With a CRM system, you keep a record of interactions with prospects and the data you glean helps you determine which ones to pursue and which ones to drop. Firms that excel in the lead nurturing field generate up to 50% more sales-ready leads at 33% lower cost. Use your CRM to see which prospects open your emails, visit your website, or otherwise engage with your brand.
Shorten the Sales Cycle
We recommend choosing a CRM system that has excellent analytics and reporting options to help predict sales growth while also showing conversion rates. The data you receive from the CRM makes sales forecast targets reliable and accurate. This combination makes it easy to motivate your sales team to meet achievable but optimistic targets.
Your CRM system does far more than merely track activity. When you use it properly, you can trim the length of the sales cycle. When you determine the percentage of your leads that close within a certain time frame, you’ll know how to target individuals more likely to make a purchase. A CRM system enables you to segment leads, target active prospects, and determine leads ready to hand over their hard-earned cash. Without a CRM system, you’re nothing more than an analog business in a digital world.