The way CRM helps business in growth and development is different and nothing else can compete such support with the same caliber. CRM or customer relationship management software is among those robust tools that boost business sales and keep revenue flowing from the current clients. It also generates and drives new leads to the company using information generated by the system. It is due to the efficient CRM that offers most insightful data through which company employees find out what their customers are interested in, their spending habits, and other details that help in critical marketing intelligence.
CRM technology assists businesses by improving their sales and growth. Here’s how it makes things possible-
- Enhance customer data
CRM software solution provides most insightful data that can be used along with other data mined from social media networks to fetch out customer base better. Through such things, you will be able to see which of your customer’s birthdays are approaching, where they live, which industry they work in, etc. CRM brings every type of data required by the company to grow its business.
What if company doesn’t have updated customer data?
If the sales team is using outdated data collected years back by different modes to send targeted communications to its customers, such as birthday offer. If this birthday offer is sent to every customer having birthday record of the same month through email or post and if the customer is no longer using that email address or have shifted from old location then all efforts will go in vain.
It is important to have such software that will keep the customer data up-to-date. This is why CRM technology is considered as the best thing ever happened to any business. If a company owns a CRM software system which is sourced from reliable partner, it will target the right people for the desired product or service and will boost sale.
- Analyze customer satisfaction
Every business runs on the basis of customer satisfaction. If your client is not happy with your service or product, you cannot survive in the market for longer. A CRM solution helps find out the most satisfied customers in your business data. It also reveals most engaged customers and sleeping customers through data insights.
What if company doesn’t have satisfied customers?
If a business is unable to achieve a good amount of satisfied customers, it will soon shut down.
When you know your most satisfied clients, you can target them and ask for referrals, reviews, and testimonials. This can be possible with CRM technology. It will tell the exact amount of most satisfied and least satisfied customers, which later helps you in enhancing your approach towards the clients. CRM ensures that you don’t lose a customer and get more referrals with your outstanding customer service and which further boost sales.
- Better team collaboration
Everything gets on a move if your business operations are running smoothly. CRM ensures that the team operations work flawlessly by empowering them to save everything in single, central location. Through saved data of every interaction with a prospect, each team member can carry out further interactions by referring the saved ones. This narrows the space for any confusion or slipping of leads.
A reliable CRM system enables the team to set each other tasks to complete. For instance, if a prospect asking for a specific individual of the team, you can set a task for the person to follow up with the prospect. This makes the teamwork more efficient and enhances customer service.
What if business is missing out the team collaboration?
Poor team collaboration affects the business sales and service. It will only make business lose its important clientele by creating loopholes and confusion.
To help in such situation, Microsoft Dynamics CRM technology comes in to play. It will enhance sales strategy by skipping the chances of missing any lead by creating tasks and contact histories.
- Enhance upsell
When you order food at some restaurant and you get a combo of a drink with burger, or lunch with your hotel stay, it is called upsell offer. We as customers are already spending money, and when we do that, we like to buy into the extras. The same is with CRM which allows you to instantly present upsell offers to your clients that they don’t want to miss.
Some automation features like InTouchCRM empower the user to send personalized upsell emails instantly or within few days after client makes a purchase. The purchase history of the customer allows you to target them with the right offer.
What if business doesn’t have upsell offers to share?
Approximately 70-90% of the revenue is generated by upsells and renewals. If a business fails to create upsell offers, it can barely make 5-30% revenue from the initial sale.
CRM automation tool sends new upsell offers to the right customers and thus enhance sale without costing much.