Benefits of CRM Software That Will Increase Your Bottom-Line

Numbers don’t lie!

The average return on investment for CRM is $8.71 for every dollar spent.

Customer relationship management is the foundation of every successful business.

Long gone are the days when marketing and sales departments worked in isolated silos – collaboration is the key today! That is where customer relationship management software can come in handy.

Heard a lot about Signs you need a CRM software solutions but have more questions than answers?

Let’s dive deeper into the domain of customer relationship management and find out how it can benefit our business operations.

What Is CRM Software?

Relationships = Brand loyalty+ Higher Revenues+ Satisfied Customers

In an era where information is available at your fingertips, sustaining great customer service can be a key differentiator.

Wondering how to build genuine relationships with loyal customers?

A smart CRM system can help your sales reps close more deals and provide a better customer experience. CRM software is an advanced technology that enables organizations to store and manage all customer interactions in a unified data repository.

Research has revealed that organizations implementing automated CRM technology can significantly improve vital bottom-line parameters such as:

• 29% increase in overall sales
• 34% improvement in sales team productivity
• A reduction of 8-14% in sales cycle time

The right CRM tool can make a world of difference to your sales and marketing strategy. Let’s check out how investing in CRM software solutions can increase profitability and help your organization gain an instant competitive edge!

How CRM Software Can Boost Operational Efficiency 

Are you satisfied with your customer satisfaction scores?

If not, the chances are high that you are looking at the benefits of CRM software for your organization. Yes, investing in CRM software for small business will empower your sales agents with real-time business intelligence so that they can personalize customer interactions. This will lead to higher customer engagement and translate into increased sales conversions ultimately.

CRM software is the new buzzword in the corporate arena.

The market is expanding like never before – in fact, the global CRM software market is expected to touch over $80 billion by 2025. A clear indicator that CRM technology achieves the desired results and gives an excellent return on investment!

CRM software solutions benefit organizations in multiple ways. Here are five key advantages of implementing CRM technology:

1. Personalized Customer Interactions 

A survey by SoftwareAdvice revealed that 88% of users feel that contact management is the number one preferred feature by CRM users.

Here’s why? With contact management, you get to unify all sales interactions in one centralized location. This gives your sales, marketing, and customer service teams all the information they need to personalize client communication.

Customer Relationship Management system give real-time information. Your sales reps know the customer name, address, purchase history, preferences, and previous interactions at their fingertips. This enables your customers to have an excellent experience and ensures speedy service to loyal patrons.

2. Increased Customer Retention

Did you know that increasing customer retention by 5% can increase profits by 25-95%?

It is important to nurture loyal customers rather than investing time and money in acquiring new ones. CRM software lets you know which customers need attention; hence your team can provide them better service according to their unique requirements.

Source

Most CRM platforms rely on automated technologies such as sentiment analysis and behavioral segmentation to understand customers’ preferences. Also, customer support automation through call routing and automated ticketing ensures customers get speedy resolution and do not switch to industry rivals.

3. Seamless Customer Segmentation 

Sales representatives need to perfect the art of customer segmentation! Nothing better than CRM software to help you segment prospects and existing customers on pre-defined parameters.

CRM systems make it easy to develop specific customer databases on criteria such as demographic details, income range, and product preferences.

Wondering how segmentation helps?

Seamless customer segmentation empowers your marketing team to run target-driven campaigns with personalized communication. You can deliver a tailor-made value offering or sales pitch – a great way to increase your chances of closing a deal effectively!

4. AI-Driven Reporting Capabilities

Data is power in the current digital era!

CRM software allows you to drill down deep to understand key metrics and analyze performance in all functional domains. You can create real-time reports on:

• Sales ( Total revenues, agent performance, pipeline, forecasts)
• Marketing ( Campaigns, advertisements, lead sources)
• Customer Data ( Demographic, buying patterns, behavioral analysis)

One of the biggest advantages of advanced reporting capabilities of CRM software is that it provides complete operational visibility. You can easily identify bottlenecks in your pipeline and push prospects down the sales funnel. It also becomes easy to track agent performance and provide them with real-time feedback to deliver a superior customer experience.

5. Better Team Collaboration 

74% of businesses report that CRM software has increased access to important customer information!

The best part about CRM solutions is that they facilitate smooth team collaboration by data-sharing mechanisms. Sales reps and managers can communicate to share information about leads, quotas, marketing campaigns, and deal closures.

Anyone who has access to your CRM can gain actionable insights through the unified database. It streamlines internal communication between all organizational stakeholders and helps in managing tags, alerts, emails, chats, and records in a centralized location.

Top CRM Software

If you are on board you should know how CRM technology can improve your sales conversions, the next step is to take the plunge and invest in the best CRM software for your organization.

However, the vast range of CRM systems in the market makes it difficult to narrow down the search. Here are some questions to ask yourself before investing in CRM software:

• Does the CRM software have top-notch features, and can they be customized?
• Will the system scale up or down according to our business requirements?
• Is the interface user-friendly and navigable?
• Does the CRM software implement stringent data security protocols?
• Will the service provider provide system maintenance and after-sales support?

If you are confused or feeling overwhelmed about choosing the best CRM software for your business, do not worry anymore. Check out our curated list of the top CRM solution that can help your organization increase bottom-line results instantly:

1. Freshworks CRM:

A leading sales force automation and CRM solution, Freshworks has advanced functionality and customized reporting capabilities. It facilitates team collaboration and enables sales representatives to gain real-time insights into customer behavior to deliver personalized experiences.

 

Features

• Contact and account management
• Email marketing
• Lead management
• Sales forecasting
• Reporting and Analytics

2. Oracle NetSuite CRM:

A cloud-based solution that provides a holistic 360-degree view of customers, Oracle NetSuite is a market leader in the CRM domain. It supports various critical activities through the sales lifecycle that include billing, shipping, inventory, pipeline management, and reporting.

 

Features

• Document management
• Marketing automation
• Lead qualification
• Territory management
• Quotas/Estimates

3. Teleduce:

A comprehensive and automated CRM platform, Teleduce enables organizations to break internal silos and share real-time data. It helps to capture leads from omnichannel sources and nurture them effectively. Managers can run marketing campaigns easily and drill down into real-time data to improve sales performance.

 

Features

• Document management
• Marketing automation
• Lead qualification
• Territory management
• Quotas/Estimates

4. Kapture CRM:

A user-friendly and customizable CRM solution, Kapture CRM helps businesses grow by automating sales and marketing processes. It has an array of innovative features, reporting tools, and a visual dashboard to improve decision-making and bottom-line performance.

 

Features

• Contact management
• Sales dashboard
• Email marketing
• CRM analytics
• Knowledge base management

5. Zoho CRM Tools:

An all-inclusive customer relationship management platform, Zoho CRM has top-notch features with customized reporting capabilities. It streamlines communication between sales, marketing, accounting, and inventory teams to increase operational efficiency and bottom-line results.

 

Features

• Asset management
• Channel management
• Sales forecasting
• Reporting and analytics
• Campaign management

The Final Word

Customer relationship management is what can help your business surge ahead of rivals and gain a competitive advantage. A CRM solution is a potent business asset that can align your sales and marketing strategies on the right path and boost performance parameters.

So, what are you waiting for? Start expanding your business today with suitable CRM technology and share your experiences with us via comments.