Here's How CRM Can Help You Expand Your Business!
It really doesn’t matter if you are a small or large business. If you want to outrank your competitors and dominate your competition – you need a CRM to manage your manpower (customers and/or employees). With the help of a well-managed CRM, you can reach the right customers, at the right time – thereby enhancing the overall customer experience and retaining your most valued customers.
More and more businesses are deploying CRM systems to manage their human resources. Have you ever wondered why so many giants across the industry are investing many millions after custom CRM development services?
Statistics say:
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Using CRM can help improve your sales productivity by 34%
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Just 5% increase in customer retention can increase business profits by 25% - 95% & 47% CRM users recorded a significant impact.
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86% customers are willing to pay more for better service, and 75% adults say that good customer service makes them love a brand.
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The average Return on Investment for using CRM is 8.71$ for every 1$ and 25% sales reps achieve their targets using a mobile CRM.
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The probability of selling to a new prospect is 5 - 20% and to an existing customer is 60 - 70%.
The statistics themselves are powerful to prove the fact of the matter that – if you are hungry enough to dominate your competition, you should invest in integrating a well-managed CRM system. If you are yet not convinced, here are some benefits of having a CRM system for your business.
Improved Customer Relations:
One of the prime benefits of using a CRM is obtaining better customer satisfaction. By using this strategy, all dealings involving servicing, marketing, and selling your products to your customers can be carried out in an organized and systematic way. You can also provide better services to customers through improved understanding of their issues and this in turn helps in increasing customer loyalty and decreasing customer agitation. In this way, you can also receive continuous feedback from your customers regarding your products and services. It is also possible that your customers recommend you to their acquaintances, when you provide efficient and satisfactory services.
Maximize Upselling & Cross Selling:
A CRM system allows up-selling, which is the practice of giving customers premium products that fall in the same category of their purchase. The strategy also facilitates cross-selling which is the practice of offering complementary products to customers, on the basis of their previous purchases. This is done by interacting with the customers and getting an idea about their wants, needs, and patterns of purchase. The details thus obtained will be stored in a central database, which is accessible to all company executives. So, when an opportunity is spotted, the executives can promote their products to the customers, thus maximizing up-selling and cross-selling.
Grow Your Business:
Over time, a CRM will provide you with accurate information about your sales performance, while it also provides you with new sales and marketing capabilities and options. You will no longer need to rely on guesswork or gut feel to drive your sales and marketing, you will have solid facts you can use to drive the performance and profitability of your business.
Not just that, there are many CRM development companies that can help you grow your business and market your most amazing product.
Be More Productive by Automation:
The bane of a salesperson is the little tasks that take up most of their time. Imagine the amount of leads that come in on a daily basis. Now, if you have to manually check them and update their status and owner, then half your productive day is gone. CRM systems of today come with features that allow you to set rules and tasks and other features to help you automate these routine tasks and concentrate on what you do best: selling!
CRM takes care of all the small stuff allowing you to focus on the major things, the ones that really matter the most.
Final words:
CRM can prove to be a turnaround for your business if implemented in a right way. There are many giants offering custom CRM development services to help you grow your business. With the help of a CRM, you can increase customer loyalty, maximize customer retention ratio, and build an unshakeable brand.