There are many benefits that a well implemented CRM system can do to a company. CRM system are normally broken down into 3 components which are; sales, marketing ans customer support. Therefore, i have break down the benefits of implementing CRM system into these 3 section.
Benefits to Sales
1. Act on every lead
Leads are organized to help the sales force know who has been contacted and who has not. This ensures that leads do not fall through the cracks and potential leads are not annoyed by multiple contacts.
2. Bring the Focus Back to Selling
CRM solution can streamline and automate routines such as pricing, order processing, and other administrative tasks, so reps can spend more time working with potential customers
3. Stronger Customer Relationships
CRM solutions provide highly-interactive analytical tools that empower a sales force with valuable, timely, and accurate insight into buyer interests and needs. When a lead sees that their needs are being met and cared for, they are more likely to continue in the selling process.
4. Access to Best Practices
CRM Solution will be able to keep a history of the entire sales process giving sales reps step-by-step guidance throughout a successful the sales cycle. This will result in a higher closing rate for sales reps also act as a guide for new sales reps.
5. Match leads with the right sales reps
Different sales reps have different approaches to how they do business. With a CRM solution in place, you are able to route leads to the sales reps who best fits and knows their needs.
6. Always Proactive
The alerts and leads tracking capability of a CRM solution allows sales reps to be always proactive and make sure they will not miss out on any leads.
7. Reduce lengthy Meetings
Every interaction a rep has with a lead can be recorded, so managers can monitor how everyone is doing whenever and wherever without lengthy meetings.
8. Lead information is uniform and comprehensive
CRM solution allow you to collect information about your leads and keep everything uniform across the whole team.
9. Organized and better Time Management
CRM solution will help the sales reps have better time management with the calendar function and be more organized with all interaction recorded.
10. Encourage Collaboration and Teamwork
Reps are able to see how they are doing, as well as everyone else. They can learn about recent deals similar to theirs and work with others on what they can do to improve. The management will also be able to know when they will be able to come in to provide the necessary assistance.
11. Reporting and forecast for the future
CRM solution allows generation of sales report easily. You are able to spend more time with your reps on how to improve rather than preparing reports.
CRM solution can be integrate with smart phone result in automation in sale processes e.g. keying in of sales information on the phone to generate quotation on the move.
Benefits to Marketing
1. More effective and targeted marketing campaign
With the CRM solution capturing customers history, preferences, interest and demand. More effective and targeted marketing campaign can be rolled out.
2. Measure marketing campaign effectiveness
CRM Solution will be able to capture all the cost of marketing / advertising campaign and its result. In this way, companies will understand which marketing / advertising campaigns generate the greatest ROI and which should be discontinued. Measure campaign effectiveness by revenue generated per marketing dollar spent
3. Marketing campaign tracking
As a successful marketing campaign normally has many smaller sub campaigns, a ACRM solution is able to assist in tracking which stage of the campaign it is in and lets you know when to execute the next step.
4. Reduce marketing cost
CRM helps to reduce marketing cost by decreasing the time and labor required to execute tasks as it as it automates some marketing processes and tasks.
5. Better lead distribution
Leads can be funneled more effectively to the most appropriate sales staff or channel member. Leads can be better timed for transition to sales resources. For example, campaign leads which are not yet qualified can be placed in a nurture marketing queue until they become qualified and then turned over to the sales reps.
6. Re-establish the link between Sales and MarketingMost organizations have a break-down of responsibility between the sales and marketing functions. Marketing claims they cannot be responsible for leads once they are distributed to sales staff. Sales staffs claim that majority of leads received are not qualified. CRM solution will be able to hold and manage lead responses until they are qualified (i.e. nurture marketing campaigns) and by allowing marketing real time visibility to all marketing-generated lead responses, every lead is accounted for and responsibility is not lost
7. Comprehensive reporting
CRM solution is able to generate reports such as graphics and charts for marketing staff rather then the numbers and figures generated for the finance people from ERP system.
Benefits to Customer Support
1. Funnel cases from different touch points
Gather customers feedbacks form different sources such as from website, from calls from emails and from sales reps and compile them in one repository.
2. Knowledge base / FAQ
CRM solution is able to collect all customer feedback cases and solutions to form a knowledge base where customer service personals have access to. This will help them in solving cases or as FAQs for customers.
3. Feedbacks and improvements
With the feedbacks gathered, management will be able to find the problems that customers are facing and make improvements to their products/ services in the future.
4. Increase customer service experience
With the case management and tracking function of CRM, it make sure that all cases are resolve and no case left unattended. It will also assist customer service personal to know what is the status of the case if it is being escalated to another department.
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