According to a recent survey by Gartner, only 15% of organizations have replaced their on-site customer service apps with CRM, even though the ROI is a whopping $5.60 for every $1. If you haven’t already, it’s time to make a CRM system part of your company’s future.
CRM systems are getting more affordable, while simultaneously offering more services than ever before.
Companies taking advantage of CRM systems can now enjoy collaboration, total integration and a vast array of 3rd party extensions, all for one affordable monthly subscription fee.
As the following article looks at, here is how a CRM system can lead to increased profits for your business.
Focused Sales Efforts
For years, companies and salesmen accepted the unavoidable percentage of sales efforts that led nowhere.
Either the salesman was following an old lead, a dead lead, or simply being playfully yanked on a chain by a less than forthright lead.
Whatever the reason, there were hours upon hours of wasted time spent pursuing opportunities that were never actually opportunities at all.
With a CRM in place, your sales team can focus their sales efforts where they are likely to see the most return.
For example, did you know that your odds of selling to a new customer are somewhere between 5% and 20%, whereas, your odds of selling to an existing customer are between 60% and 70%.
With CRM, sales people can home in existing customers and know exactly where each of them is in the sales chain.
Once those sales are confirmed, they can work on new prospects to convert them into existing customers.
More Efficient Communication
Nothing can negatively influence morale, undermine change efforts or ruin sales more than poor communication.
If your sales team is constantly trying to figure out who said what, who’s doing what, or what they’re supposed to be working on next, they’re likely wasting a lot of time and hemorrhaging sales.
CRM systems solve this problem in one. Providing an online hub where your sales team can log on from infinite locations, a CRM system makes it possible for everyone to be in the know.
And, when you have a written record of comments, tasks and assignment and completion dates, your company is covered in more ways than one.
Client management can quickly become a nightmare, especially if a company grows quickly.
Trying to keep a group of sales people up to date on every stage of a client’s movement through your sales chain, and then trying to keep a group of clients from slipping through the cracks is virtually impossible without a CRM.
With integrated client management databases and 3rd party add-ons like automatic proposal creation, templates, invoicing and client communication messaging, CRM makes client management a breeze.
When companies choose the best CRM system for them and take advantage of all the additional features that are available with a good CRM, the client experience improves right along with the company’s profits.
The question isn’t whether or not your company should invest in a CRM system.
The question is why haven’t you already?
About the Author: Kate Supino writes extensively about best business practices.