CRM is one of the strategic investments in your business. It’s useful to every company of any size in every industry.
But what specific benefits does it bring to your business and to your industry? We will have a look at them in this section.
Ms. Melanie Brown owns a company called Brown Marketing that helps mechanical parts manufacturers sell their products using her website. In the first few months, the business is quite slow.
During a feedback round with her vendors, one of her clients writes a glowing review which appears on her Facebook page. He also recommends her marketing services to his peers in the industry.
Ms. Brown now starts getting 3 to 5 leads per day.
Within just two weeks of the review being posted on her Facebook page, Ms Brown is now routinely approving overtime requests and she also notices that her sales agents are losing motivation. They go out on the field to convince the clients and then come back to the office to input all the details into her manual system that’s based on Word docs and Excel sheets.
The problem here is the lack of enough time for the sales agents.
Her solution here is CRM. She decides to do away with her manual system and opts for a cloud CRM with a mobile app. It solves this problem by allowing her sales agents to update all of their collected data into the system on the move.
This immediately improves their productivity as they’re not overwhelmed by the volume of work. A wise investment in CRM at the right time saved her the repetitive expenses of hiring a new sales agent.
According to another stats report, appearing on the first page of Google drives 92% of consumer traffic.
While digital marketing presents wonderful new ways of getting more customers, it has to be done right.
No matter how much helpful content is displayed on your website, only a small minority will contact you via your “Contact Us” page.
Most of your visitors will browse around on your website for a bit, make a mental note of contacting you, and close the website. By the end of the day, that mental note is erased because the visitors are busy with their daily business activities.
They forget about your company and move on to your competitor’s website and you lose a lead to them.
What we described above is a losing strategy, a boring approach to marketing.
Using a CRM, you can
That being a said, a change of CRM is always a possibility and can be triggered by a number of reasons, not limited to:
One of the most common reasons for enterprises to change their CRM systems also happens to be its biggest advantage - strategic insights from customer data.
Come the third decade of the 21st century, CRM will become the biggest business expense and the CRM market will explode to $30 Billion before 2030 hits.
The competition rise in the CRM market will birth tremendous CRM innovation. As AI evolves in this decade, it will change the way companies interface with their data.
Deep insights from customer data will become the norm. Major CRM vendors will look to upend one another as large enterprises become coveted jewels and ‘must acquire’ clients.