A CRM is a very powerful tool.
It allows you to unlock insights about your customer base and be more strategic in your sales nurture efforts, both of which help you close more deals.
But before we get into the benefits of CRM software, however, let’s answer: “What does CRM stand for?”
CRM is short for customer relationship management. And while the term can refer to different things like business functions and departments, it’s usually used in relation to customer relationship management (CRM) software.
Now that we all understand what a CRM is, let’s review the top 5 benefits this software offers.
The top 5 benefits of CRM software
1. A deep, data-driven view of your customer base
CRM software is a hub of lead and customer information. It stores everything from demographic data to each customer’s transaction history and communication preferences.
In short, it’s a gold mine of information you can use to:
- Better understand your customers
- Refine your value proposition
- Improve your marketing campaigns and sales strategy
And best of all, drive a better bottom line.
Method:CRM users: For those of you that are Method:CRM users, you can generate custom Method reports to pinpoint the exact characteristics your best customers share and then use this data to drive more targeted marketing and sales efforts.
2. An accurate, up-to-date view of your sales pipeline
One of the benefits of CRM software is that it improves visibility into your sales pipeline. This is a huge asset to small businesses as an accurate view of your sales pipeline lets you know:
- How much revenue you can expect to generate
- When incoming sales opportunities should close
- Where deals are getting blocked
All of these details are critical to the success and growth of your business.
So much so, that the Harvard Business Review found that effectively managing your sales pipeline allows you to grow your sales 9% faster than businesses that don’t manage their sales pipeline well.
“Businesses that effectively manage their sales pipeline increase sales 9% faster than those that don’t.”– Harvard Business Review
With your sales team using a CRM to update the progression of sales opportunities in real time, you can:
- Easily manage your sales pipeline
- Push deals forward
- Better manage team performance
- Forecast more accurately
- Use data to adjust your sales process and strategy
With the help of a CRM, your sales team stays on the same page and you can be sure that no leads or deals slip through the cracks.
Method:CRM users: Method’s Opportunities app gives you an at-a-glance view of all your sales opportunities and their progression in real time.
3. A faster, more efficient sales process
Another benefit of using a CRM solution is the time it saves you. By acting as a repository for all your sales data, a CRM ensures you don’t waste time looking for critical information. Instead, you can find the contact information you need or schedule a follow-up activity with a hot lead instantly.
Plus, with many CRMs now hosted in the cloud, sales reps can access this information from anywhere.
Whether you’re working from home or on a mobile device, cloud CRMs empower sales reps to push deals forward without having to be in the office.
This not only increases productivity but can also shorten your sales cycle, as reps can send leads proposals and estimates without any delays.
Method:CRM users: Method’s mobile app makes it easier than ever to share estimates with leads and keep deals moving forward while you’re on the go. Even better, you can integrate Method with your favorite communication tools like Gmail and Outlook so your new contacts automatically appear in Method.
4. Improved customer service
One of the benefits of CRM software is its positive impact on customer service. By equipping your employees with all the information you have on a customer, it becomes much easier to help that customer in a meaningful way.
From saving your customers from having to reiterate their contact information to being able to see their complete order history, your team members will have the information they need to provide an excellent customer experience.
Plus, with all this customer data at your staff’s fingertips, helping customers is a faster and more efficient process, making both your employees and customers happier.
Method:CRM users: Method’s customer portals are a great tool for increasing customer satisfaction. By allowing customers to make online payments, submit support claims, and even access help articles at their own convenience, portals are a sure-fire way to deliver a high-quality customer experience every time.
5. Higher productivity
CRM systems are a great way to boost your team’s productivity. From automating the email campaigns you send to instantly scheduling follow-up activities for new leads, CRM users can avoid tedious, administrative tasks.
The level of organization a CRM provides also ensures your team doesn’t waste valuable time looking for information or duplicating work. Instead, a CRM lets leads and data flow freely amongst your team members.
Method:CRM users: Method’s email campaigns let you reach more prospects in less time. Simply create a template, select the contacts you would like to communicate with, and click send. It’s as easy as that!
Recap: The benefits of CRM software
Now that we’ve covered what a CRM is and what you can gain from one, let’s summarize the top 5 benefits of CRM software.
- CRM software lets you understand your customers on a deeper, data-driven level.
- Using a CRM makes it easier to manage your sales pipeline and accurately forecast revenue.
- A CRM makes it easier to find important sales information and allows salespeople to work more efficiently on the go.
- A CRM enables you to personalize your customer experience and keep your customers happy.
- CRM software increases your productivity by automating tedious tasks like data entry and email outreach.
Experience the benefits of CRM software with
a free 30-day trial of Method:CRM.
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