Customers can make or break a business. In an era of rapidly changing customer demands, the only thing that matters is how they feel about the experience your brand provides. And one of the best ways to improve that experience is to adopt a CRM solution for round-the-clock omnichannel support.
According to a research by Deloitte, 29 percent of SMBs are currently relying on CRM software to attract new customers. This percentage has increased rapidly over the last few months with digital solutions becoming the key to attracting new customers and engaging with the existing ones.
Let us analyze in detail how a customer relationship management tool can benefit SMBs as well as large organizations.
How can CRM Software help a Business to Boost Sales?
- 5X Quicker Access to Customer Data
- 50% Increase in Performance with Mobile CRM
- 47% Increase in Customer Retention with Better Service
- $51 Return on $1 Spent Over Email Marketing
- 41% Increase in Revenue Per Sales Representative
- Increased Sales Team’s Productivity By 50%
CRM software plays an instrumental role at every stage of sales and marketing initiatives. From lead generation to lead categorization, nurturing, email and SMS communication, sales force automation to follow-ups, CRM software increases efficiency throughout.
5X Quicker Access to Customer Data
As your business starts dealing with more customers, you might want to transfer some of the data to the cloud. In the last 13 years, there has been a 7X increase in the number of businesses opting for cloud-based CRM solutions.
A cloud-based CRM solution like the ezeeCRM application allows you to access your database from any location in real-time. So, even if you signed up a customer a long time back, you will never lose their critical information.
50% Increase in Performance with Mobile CRM
Forester’s report estimated that businesses could improve their sales team’s productivity by almost 50% by using CRM software. This can be attributed to the fact that most CRM solutions such as CircleOne CRM are available for mobile phones. Even if your executives are not at their workstations, they can cater to a customer by simply logging on to the designated mobile app.
47% Increase in Customer Retention with Better Service
CRM solutions lead the race to IT investment, with almost 60 percent of organizations increasing their IT spending the previous year. Most of this is directed towards customer-facing products which have a direct impact on customer retention rates. Some of these products include a dedicated help desk, self-help portals, etc.
$51 Return on $1 Spent Over Email Marketing
As we have already mentioned, customer experience is what matters the most. The way your business reaches out to a customer can either make them your dedicated customer or prevent them from signing up for your services ever again.
A report by SuperOffice suggests that email marketing is the most efficient way to reach out to customers, as for every $1 spent, you get an ROI of around $51. So, when you sign up for CRM software like Solid Performers, you can send emails that describe your brands in the best way possible.
41% Increase in Revenue Per Sales Representative
In a recent study, close to 70% of businesses concurred that their customers were not sure of how their services were different from the competitors.
In such a scenario, it is advised to opt for CRM software to drastically better your fortunes. CRM software helps understand customers’ expectations from your product or service and implement changes accordingly.
Increased Sales Team’s Productivity By 50%
In a Harvard Business Review survey, more than 50% of sales employees credited their high productivity to CRM software. Customer management software can be used to manage your entire sales cycle right from the generation of lead till the time the customer is successfully onboarded.
CRM automation ensures that each stage of your sales cycle gets completed at a faster pace.
Summing it up
These were some of the insights on CRM software and how it helps you better your sales prospects. Not much to anyone’s surprise, the increasing digital adoption among SMBs has started yielding encouraging results in terms of expansion and growth. The year has just started, and we hope to see these trends only grow from strength to strength.