CRM is a software that is used to store all customer information but it adds more benefits which is why CRM is the key reason in increasing sales and revenue for all ecommerce business owners.
“55% of sales professionals say that ease of use is the most important feature of a CRM.”
“CRM pays back $8.71 for every dollar spent. (Source – Nucleus research)”
The numbers don’t lie – Adopting Customer Relationship management software for sales has been a game-changer for many small and large scale businesses worldwide.
What is CRM (Customer Relationship Management)?
Every expert has given definition on CRM as per their understanding explaining about CRM and its uses. According to me the business is now not possible without maintaining relation with your customer and each customer needs a VIP treatment.
Using old management system, you cannot answer and fulfill all your customers query and problems, Whereas CRM helps you in managing all your company’s relationships, approach and interactions with customers. The business is always done with the aim of earning profit ensuring customer satisfaction; CRM implementation services are completely capable of connecting the customers, streamlining the sales process, helps in predicting for future sales and increases profitability.
“It is strange to know that in this 21st century 22% of salespeople are still deprived of what CRM is? (source: HubSpot State of Inbound ‘16)”
People usually gets confused in between the CRM and pipeline Management and defines these both as two different software, whereas it is not. In fact, CRM itself is a software that has one term that is called pipeline management. It helps CRM Managers in overseeing and directing future sales in various stages.
“40% of sales people are following “old is gold” formula and are still using informal methods like spreadsheets, and email programs to store customer data. When you got diamond (CRM), why don’t you use it to increase sales by 29%. (source: HubSpot State of Inbound ‘16)”
What is Pipeline Management Term in CRM Software:
The pipeline management in CRM software can be termed as the monitor in CRM process that keeps a track and eye on not only the sales but on the inquiries, predictive sales, customer behavior, purchase order, related items, cancelled item and its reason that helps you predicting the future business plan and sales strategy for your customers on various stages.
Pipeline management allows CRM managers to answer all questions asked by your customer on the basis of the data and time that has been spent over and recorded. It is very helpful in directing future sales.
1. Find the right customers.
You spend a lot of time, efforts, and resources to attract and generate new leads. What next? Are they managed in the right way by your sales team? Do your sales professionals know which opportunities are the hottest? With email campaigns, social media management, and marketing automation being connected to a CRM platform, you can get a complete view of leads and prospects. Engaging communications between the teams internally and between customers and the sales professionals facilitate faster decision making.
2. Build more sustainable relationships
Once your team has a deep understanding of a customer’s business and the expectations, you will be able to build stronger relationships with your customers. A CRM system helps your sales team understand the goals, challenges, and preferences of customers. Based on the clear view of the customer’s history with your company, you can provide them with the most relevant content and information. You can also recommend appropriate products or special promotions that are relevant to their business interests.
3. Better decision making
CRM offers a 360-degree view of the customer information and one can get all the insights about the business in a flash. All the information related to emails, phone calls, sales records, transaction history, and more is available in a single place. Business owners and sales team can generate various reports with CRM. Management can make better-informed decisions when they get the right information.
“CRM application has accounted a dramatic increase in sales productivity by 34% and sales forecast by 42%. (source: Salesforce)”
4. Enhance productivity
CRM boosts the overall productivity of your business by automating a tedious and daunting task. As the processes would be streamlined and costs minimized, it increases efficiency and productivity of your sales team. If your team has thousands of leads in the system, there are chances that the sales reps may lose track of some. When you use a CRM, your team no longer has to struggle to remember which leads to contact at what point of time. They can prioritize the leads and close sales faster.
5. Make customer interactions more personalized
No matter how good a salesperson may be, it can be difficult to gauge what exactly the customer wants. Unless you have a magician on your team, it may be difficult to understand what the user wants. Some customers may be reluctant in sharing their intent with the professionals. A CRM can help you predict customers’ buying intent based on the data about which pages on your website as he visited and how much time is spent. If you sell products online, you can find out what category of products has the user visited the most.
6. Automate repetitive tasks
Most of the salesperson finds it tedious to enter repetitive tasks as they have to spend a lot of time and efforts on it. CRM system comes with features that allow the users to set the rules and automate your routine tasks which help you to improve sales process of your organization.
7. Drive sales
With CRM, sales cycles get shortened and sales rates improve as the software helps to nurture leads. Organizations can focus on the right opportunities, and grab them easily. You can build your sales pipeline better with a good CRM system and increase profitability.
Every person in the world has a different face with different name, skills, voice, color, size overall we all live, we all consume same oxygen yet are different, same way there are 100’s of companies providing CRM solution that has its own unique benefits, usage, and features that accordingly suits for your business model. One CRM is not a solution for all business models neither the all CRM are the solution for one or all business models.
Your business needs, requirements, size and problems becomes the vital reason of which CRM will suits your business to run your management smooth and maintain the customer relationship ensuring the ROI of $8.71 against every dollar you spent. Below are the 5 CRM providers mentioned with their short description of uses that you can relate with your business to decide if it suits for you?
1. HubSpot CRM: It is good for managing your contacts, accounts and deals. Makes business run on automate mode, saves unlimited users and data, email tracking, web visitors tracking, lead management and many more.
2. SalesForce: with 9.7% of score out of 10 along with 99% user satisfaction ratio is accounted till now. It supports in several process of business management from which some are mentioned below:
- Account and contact management
- Opportunity management and score
- Lead management
- Sales data
- File sync
- Sales forecasting
- Real time visibility
- Campaign management
- Multi currency support and many more
3. Freshsales: Managing Contacts, Accounts and Deals is common whereas,
- It makes a lot easier and simpler in increasing your business size
- Worldwide management of your business
- Product lines by creating sales territories
- Transfer calls to territories
- Limit territory access, and more
4. Pipedrive: It is more selective compare to salesforce because of the costing as it provides cheap services compare to salesforce along with several features that are listed below:
- Great sales pipeline view
- Email integration
- Contact History
- Powerful API
- 24/7 Support
- Simple data import and export
- Google apps integration
- Mobile apps
- Full customization and several other features
5. Zoho CRM : Zoho has worked so hard to build trust among the users by its name. Below are the point that makes it more trustable in the market.
- Easy to use
- Inbuilt AI
- Faster adoption
- Instant deployment
- Effortless onboarding
- Marketing automation
- Inventory management and more
“The combination of big software players that are Microsoft, Oracle, SAP and Salesforce are dominating 75% in the CRM market whereas alone one third of CRM users use salesforce. (source: Capterra)”
Implementing a successful CRM system could save a lot of time and efforts for your team that facilitates your sales team in focusing on important productive activities and empowers them to taking strong decisions to grow your sales. Start planning and implementation of the best CRM system for your business. Microsoft Dynamics CRM Development is gaining popularity among organizations as it helps to increase operational efficiency and automates business processes. So, what’re you waiting for? Get in touch with us now to know how to adopt the right CRM to boost up your sales.