{"id":711622,"date":"2017-06-28T19:17:04","date_gmt":"2017-06-29T02:17:04","guid":{"rendered":"http:\/\/customerthink.com\/?p=711622"},"modified":"2017-12-26T17:56:30","modified_gmt":"2017-12-27T01:56:30","slug":"7-reasons-why-crm-and-sales-are-correlated-to-sustainable-business-growth","status":"publish","type":"post","link":"https:\/\/customerthink.com\/7-reasons-why-crm-and-sales-are-correlated-to-sustainable-business-growth\/","title":{"rendered":"7 Reasons Why CRM And Sales Are Correlated To Sustainable Business Growth"},"content":{"rendered":"
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Photo<\/em><\/a> by Pexels, <\/em>CC0 1.0<\/em><\/a><\/p>\n For many entrepreneurs and business owners, moving from one stage of a thriving business to the next one can be quite a challenge. Research shows that only a mere 0.1 percent of businesses hit the $250 million mark in annual sales<\/a>. That number gets smaller for the billion-dollar group, with only 0.036 percent of companies making it to $1 billion in revenue. These figures paint a grim future for ambitious businesses that look to compete and grow in the current cut-throat business environment.<\/p>\n Sustainable business growth is an element that often eludes even the biggest of businesses. Many entrepreneurs often find it easy to come up with and execute solid business ideas, only for the business to fizzle out within the first few years of existence. Achieving sustainable business is often the sum-total of different factors, but chiefly how well the business manages its sales pipeline, usually with a customer relationship management (CRM) platform.<\/p>\n CRM platforms enable businesses to manage their customer databases, giving teams an accurate forecast<\/a> of their sales and marketing efforts. Here\u2019s a little bit more of how CRM systems in sales departments are associated with sustainable business growth.<\/p>\n It makes no sense to invest heavily in getting visitors to your website using expensive customer acquisition tactics and waiting for them to make a purchase and become loyal customers. You need to keep tabs on any visitors that come to your site, ensuring you follow up on each visitor to find out why they did or didn\u2019t complete their journey.<\/p>\n A CRM platform enables you to track and follow up on each potential lead that comes into contact with you \u2013 via both online and offline channels. Following up with each lead on your CRM database gives your sales team an opportunity to nurture relationships and eventually turn leads into loyal customers. With strong relationships in the sales department and both current and potential customers, businesses are more likely to withstand the test of time and realize sustainable growth.<\/p>\n In many organizations, the sales and marketing teams are often lumped into a single department, usually because they\u2019re meant to feed off each other. The marketing team is ideally supposed to bring in and nurture leads while the sales team is often tasked with servicing customers and ensuring overall customer satisfaction. However, sustainable business growth requires these two departments \u2013 and other organizational departments for that matter \u2013 to work as a single, well-oiled machine.<\/p>\n A CRM system enables sales and marketing teams to work together as members of one organization, which helps promote business growth. For instance, both marketing and sales teams have access to complete records of leads and customers, which makes it easier for them to target highly profitable prospects.<\/p>\n A salesperson\u2019s contacts are the biggest asset in the sales and marketing department. They act as valuable leads, potential customers, and can also be leveraged for more leads via networking. In fact, a good number of marketers often feel that one of the main reasons why they fail to understand their target audience is the lack of a disparate source of data. This is where CRM systems<\/a> often come in handy.<\/p>\n A CRM system gives sales and marketing teams a single data source that can be used to provide useful information on individual clients. A contacts report on basic CRMs<\/a> can give sales and marketing executives detailed information on a lead\u2019s stage in the sales pipeline, contact date, demographics, channel or source, and other important information. This information can be used to find new networking opportunities, close new leads, and identify weak spots in the sales funnel.<\/p>\n1. Enables businesses to follow up on each lead<\/strong><\/h2>\n
2. Improves relationship between sales and marketing teams<\/strong><\/h2>\n
3. Provides a better analytical view of individual clients<\/strong><\/h2>\n
4. Improved customer support<\/strong><\/h2>\n