There are many reasons why a customer relationship management (CRM) system can benefit an organisation. From the sales side, an automated CRM system helps profile sales prospects in order to understand their needs. This helps salespeople to build better relationships with potential customers – and to provide those prospects with products most suited to their needs.
From an internal perspective, an automated CRM system integrates the back and front office systems to create a database of customer contacts, purchases, and technical support. This database helps the company present a unified face to its customers, which in turn improves the quality of the relationship while enabling customers to manage certain information on their own.
Here are more reasons why your company needs a CRM system:
• It increases sales and reduces costs. An article in the Harvard Business Review cites a 30% increase in sales and a 25% reduction in costs, which all adds up to more profit.
• Sales productivity is higher. Because the sales funnel is more efficiently managed, there is a higher turnover with less effort required than before.
• There are cross-selling and up-selling opportunities. A CRM system records historical data including sales trends, purchase history and customer preferences, which means the sales team has a better information base from which to offer targeted products to the customer in future.
• Improved customer service, loyalty, and retention. A CRM system helps profile and target customers better, which makes the sales process more efficient – particularly in call centre environments. As customer loyalty becomes entrenched, the cost of sale reduces.
• Reduced expenses. Because the sales process is now more efficient, less time (and money) is spent closing the sale, which results in higher overall profitability.
The bottom line? The more efficiently a business can sell its products and services, the more profitable it becomes. Having a CRM system in place in your organisation can help with streamlining, targeting and managing sales prospects – all of which means more sales with less effort.
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