CRM Systems 101: Improving your revenue

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Customer relationship management (CRM) tools can seriously improve your revenue – and here are some examples how:

Streamlined sales processes

CRM software offers a way to streamline sales methodology by filtering out leads that are unlikely to convert and by targeting the correct market. This is achieved by the use of automated marketing (where responses and visits can be monitored) and by keeping all the customer details and activity within one, easily accessible and shareable profile, so they can be filtered depending on past activity and preferences.

Qualified leads can also quickly be converted, while those that aren’t sales ready will be highlighted.

Sales quotations can be automated, using sets of preloaded templates within your CRM system.

Effective reporting

Relationship management software has a whole suite of reporting tools that allow your business to view opportunities and better forecast outcomes, as well as analyse the effectiveness of campaigns.

Cost-savings

While your clever CRM tools are working hard in the background for you, this means less time is spent by staff producing reports and forecasts. This means you are saving both time and money.

Not only that, but, unlike traditional marketing methods such as paper mailouts and radio campaigns, your online activity can easily be analysed and tracked – so you can see quickly what is working and what isn’t.

Overall, this means the cost to acquire a sale can be less.

After-sales cost savings

Once you’ve got that sale, traditionally, there has been a lot of paperwork that goes with it. But because your CRM system has all these details in one place, you will spend less time sorting the paperwork, leaving you to concentrate on your sales and marketing.

Your customer service is also improved. Relationship management tools can identify common reasons for customers to get back in touch post-sale – meaning you can deal with them, whether that may be, for example, adding further information on to your website or perhaps being more specific about your product or service.

In summary, CRM’s can be an invaluable member of your sales and marketing team, helping speed up processes; removing any chance of human error; and generally making your business work smarter.