CRM systems have advanced significantly. From the antiquated platforms of the past that were nothing more than glorified spreadsheets, forward-thinking technology such as Microsoft Dynamics now offers the ability to align departments, improve customer retention and, most importantly, support the objective of increased revenue.
Such advantages mean that businesses can no longer afford to consider CRM as an optional bonus; doing so inevitably provides your competitor with the opportunity to advance, leaving your business behind.
CRM as an enabler
Revenue is, undeniably, the top priority for any business. Regardless of what department you are involved with, every individual within your business is working to increase revenue in different ways. CRM can help to bring those initiatives together.
Whilst it is important to note that technology is an enabler and not the full solution, the impact that it can have on your bottom line (when working in conjunction with knowledgeable and empowered users) is striking;
- With detailed information on a customer’s buying history and preferences so easily accessible, marketers can create more targeted, relevant content that will increase their chance of engagement;
- Finance teams have access to crucial commercial details that allow them to accurately forecast and, consequently, generate more predictable revenue;
- With the ability to automate tasks (particularly those that are, traditionally, resource-heavy), sales teams can focus more of their time on selling – and consequently support the objective of increased revenue.
CRM as the long-term solution
Another business element that can benefit significantly from CRM is customer retention. From detailed customer insight that allows sales teams to easily identify their most profitable accounts (and consequently spend their time in those areas) to improved customer service (thanks to an ability to quickly view customer buying history and issues), a CRM system provides the support that businesses often desperately need to retain existing revenue.
With this in mind, it’s essential that businesses recognise the importance of an advanced CRM system. Offering the game-changing opportunity to develop that all-important competitive edge, boost revenue and improve the efficiency of your team, making CRM the lifeline of your business is a no-brainer.
Convinced? If you’re ready to take the next step with your CRM strategy, talk to us.