CRMs are efficient tools that help businesses give an impetus to their growth and automate their processes. Although a CRM caters to the needs of all your teams, sales is one aspect that has a lot to gain. A sales CRM enables your team to have a centralized platform that allows for better management of activities. With a sales CRM, your team can make the most out of their interaction with the customers and enhance lead conversions.
Implementing a sales CRM is no more a matter of choice if you want to compete with the world. It is a tried and tested method of enhancing sales processes and achieving results. A cross-functional CRM is the one tool that your sales reps need to reach their targets and convert leads into brand advocates effectively. According to a study by Innoppl Technologies, as many as 65% of sales executives who used CRM achieved their sales targets, while 78% who didn’t use CRM failed.
The first step to selling is finding the right customer. Irrespective of a company’s size, scattering resources on poor prospects is not a choice in today’s competitive world. This is why a sales CRM is critical to an organization’s growth.
Benefits of a sales CRM
1. Quick sales processes
According to a Forbes study, sales reps worldwide spend less than 36% of their time on actual selling. If your sales team is spending more time managing the data and pipeline, something needs to change. With a sales CRM, this change becomes easy.
A long sales cycle can be a significant hindrance to the efficiency of your sales processes. A CRM allows you to map out customer stages for the buyer life cycle and manage leads effectively. You can chart out the leads and potential customers into different categories and optimize your conversations with them. Before taking a call, your sales team can figure out what category the buyer belongs to and then tailor the conversation accordingly.
2. Seamless entry into new markets
As your business grows, you will need to enter unchartered territories and introduce your product or service. You might likely witness a downfall in the numbers. A CRM helps you analyze, sort, and prioritize the sales leads. It enables your sales team to focus on the lowest hanging fruits and capitalize on opportunities. With these favorable leads, your sales team stands better chances of upselling and cross-selling. A CRM system allows you to provide the customers with quick and correct answers, helping the process even more.
3. Enhanced customer experience
In the modern world, the customer holds significantly more power than the seller. A great customer experience persuades a customer to pay more and quickly. In fact, as much as 86% of the customers tend to pay more if they get a good experience. A Gartner study even reports that 89% of companies consider customer experience the most important metric to compete on. Customer experience is definitely the latest battleground for companies.
A CRM stores all your customer data, allowing your salespeople to anticipate their problems and analyze the issues better. With this information, your customer interactions take minimum idle time, and your sales reps get empowered to provide quick resolutions. A sales CRM provides you with the opportunity to convert every interaction into a quality experience for the customer. Customer loyalty is an intangible and yet the most critical asset for a company. By implementing a CRM, you build this asset with each customer interaction.
4. A central storage space
A CRM helps your business enjoy a central repository of information. Implementing a CRM enables you to have a comprehensive view of the business. With analytics, contacts, sales, leads, customer history, etc., in one place, your sales reps enjoy uninterrupted access to the storage. Manually updating contact records and other data into your system is history. Modern sales CRMs update call history and create all records related to customers. These records can be shared from within the CRM and allow you to put the customer at the center of the selling process. With a CRM in place, your sales team knows everything about the customer before even beginning the call. This includes who the customer is, what products they are looking for, and how many times they have already called. All this information enables the reps to address the customer in a highly personalized manner.
5. Better alignment between departments
With all the information in one place, a sales CRM becomes the go-to tool for all your teams. A lack of cross-department coordination can result in crucial information falling through the cracks. A CRM equips your teams with all the tools to work together as one unit. They can easily share critical information and track customer history. Your sales reps can eliminate the need to ask the customers the same questions every time they get in touch. With the perfect alignment between teams, especially sales and marketing, your business can avoid data loss and ensure that your sales reps can add to the quality of customer experience.
6. Insightful analytics
A sales CRM offers you analytics and insights into all the aspects of your sales processes. Using these insights, you can figure out your most profitable customers and the best leads. You can appreciate your best customers and make them feel valued. With a CRM, it becomes easy to incentivize the right customers and stimulate loyalty for your business. Knowing which customers yield the most profits, you can target them better. You can even forecast their needs, preferences and be ready with a solution whenever they need it. Doing so will help you nurture your relationships and foster a positive brand image among your customer base.
7. Cloud-based access
Modern sales CRMs are cloud-based and empower your sales reps to access crucial data on their mobile phones or tablet devices. If your sales team spends time in the field, you cannot afford to have someone coordinate data access from the office. With all crucial information such as service requests, prices, history, etc., the sales reps can make informed decisions and respond faster to the leads. With a mobile CRM, they can get rid of the need to call someone at the office for details every time there is a service request. The time saved can be spent on more productive and profitable tasks.
A cross-functional and integrated sales CRM is central to the growth of a business. It enables quick and hassle-free sharing of information and secures your data. By having all information on prospects and leads in one place, the sales team can witness spikes in the conversion rates. When embraced by the group, a sales CRM can become the most powerful tool in your arsenal and effect a positive paradigm shift in your sales processes.