Businesses only survive when they bring value to their customers’ lives. Even more important, they need to differentiate themselves from their many competitors in the market. The most important way they can do this is through their interactions with their leads and customers. To do this well, most companies have turned towards a CRM and sales management system.
Now, these tools are not just for your customer and lead interactions. A good sales management tool can help you achieve higher sales and turnovers.
How the CRM and sales management system helps your company grow
Essentially, every profit-seeking company needs a CRM and sales management system, for more reasons than one. The following are five ways in which the CRM and sales management system could help your company grow, as well as the components involved:
Reduces human labor
Everything is automated these days. The most simple example would be the autoresponders you get confirming your order when you place an online order. With this growing adoption of automation, businesses are looking to reduce the manual load on their sales team as well.
A good CRM and sales management system usually comes equipped with a sales automation feature. The tool would keep track of every single lead interaction. Using this information, it would send automated sales notifications to your agents. This reduces both the response time and improves customer experience.
Not just notifications, you can automate any aspect of sales. You can distribute leads to your agents based on geography or demography. You can qualify leads based on prior criteria. More importantly, you can even prioritize your leads.
Doing this all manually not only costs more time and effort, but it can also be prone to a lot of error.
Helps with lead generation and follow-up
The topmost stage of every sales funnel is the lead capture and management stage. Usually, there is a high volume of leads flowing in at this stage. It is important to filter out your junk leads and ensure only relevant leads move on to the next stage.
Qualification criteria and prioritization help companies to weed out their spam leads. After this, the leads are assigned to agents to followup.
The sales agents are equipped with all the information they need about the lead, thanks to the CRM and sales management tool. They can then give a customized pitch to the lead. Not just the first contact, but the tool keeps reminding the agent to constantly followup with the lead. This way leakage of leads is reduced.
Provides secure storage of data information
A CRM and sales management system is usually home to a lot of sensitive information such as lead contact information, the company’s growth and revenue reports. Any leakage of such information can actually damage your company’s standing.
Therefore, when you choose a tool for your business, ensure that it comes with strong security features. Usually using a CRM is more secure than physical handling data.
Facilitates better internal communication
I always am witness to a lot of dispute between the marketing, sales and success teams in my company. I am sure that’s the case in most organizations. Usually, this is because of a lot of ‘he said, she said’. But, with a sales management tool, all your conversations are recorded.
This makes your teams work together without much conflict. Better the teamwork, more productivity.
Provides detailed analytics and insights
Companies need to always access useful insights and analytics that can give them an idea of where they are and what they need to do at any time. Business indicators are not easy to read on a manual scale, which is why CRM and sales management systems have become the tool of choice. With these modules on your company, you should be able to tell how your company is faring- on a more accurate scale, as well as see the things that should improve your results.
Usually, a majority of the CRM and sales management systems come with a reasonable level of automation, so you just need to program leave them to run. However, there are different types of CRM and sales management systems, hence don’t be too quick to settle for just any. It is important you make a list of your company’s peculiar needs, and source for the products that can meet those needs.