If your company is hesitant to join the CRM bandwagon, consider how these systems stimulate business development. Every year, more businesses adopt customer relationship management tools to track and automate marketing and sales processes and manage customer interactions. Last year, the market for the technology grew by 12.3 percent, topping out at more than $26 billion, according to recent data from Gartner.
Of course, it’s easy to understand why businesses big and small are implementing CRM systems. These software possess powerful features and can catalyze organizational transformations if used wisely. If your company is hesitant to join the CRM bandwagon, consider how these systems stimulate business development.
CRMs offer insight
These days, businesses of all sizes must understand their customers to create and maintain relevant product offerings. CRM software collect hard data on how, when and where patrons interact with brands, giving users actionable market insights. Organizations that deploy these systems don’t take chances. Instead, they leverage customer engagement data to make thoughtful, bottom-line-boosting decisions.
CRMs provide structure
Most modern CRM systems feature a wide array of automation tools that simplify backoffice operations. For instance, salespeople who have access to such systems don’t have to manually log information on web-based prospect interactions, as their CRM software automatically keeps track of these communications, HubSpot reported.
Some even record information on phone calls. Plus, these systems act as centralized prospect databases. That means no more searching file cabinets or disparate data stores for information on potential customers.
These systems present similar opportunities for marketing staff, enabling promotional leaders to spend their time creating new campaigns and designing impactful collateral as opposed to sorting through and analyzing email open data.
Additionally, CRMs improve intraoffice communication by allowing staff to easily notify their colleagues should opportunities for collaboration arise. Often this requires only a single click.
CRMs facilitate deals
Of course, CRMs most often have the biggest impact within sales departments. Companies that adopt these systems increase sales, as pitchpeople have more time to make cold calls, follow up on leads and secure deals. Plus, the data CRMs collect allows sales staff to develop more meaningful pitches based on accurate customer interaction data.
Most CRM adopters see revenue increases of more than 40 percent, per salesperson, according to survey data from Small Biz CRM.
CRMs improve customer engagement
In today’s web-based world, it can be difficult to capture the attention of potential customers. Millennials are especially hard to pin down, Advertising Age reported. In fact, the average young consumer switches media 27 time per nonworking hour.
CRMs help marketers draw in jittery web surfers by giving them the customer interaction data they need to craft effective campaigns and cultivate leads. Additionally, these systems usually include automated follow up and tracking tools, making it easier to develop long-term relationships with customers.
In short, this software is invaluable, lending organizations the tools they need to their serve customers and achieve maximum profitability.