Customer relationship management (CRM) strategies have the potential to increase customer service for your sales team by providing them with consumer information across a number of disparate systems. A CRM is a strategy for managing your enterprise’s interactions with both current and potential consumers by implementing a technology solution which integrates all sales systems data and makes that data easily digestible and viewable at a glance.
By integrating consumer data from disparate companywide systems, a CRM can help give your sales team a more complete picture of who its consumers are, what they need and want, and how they can and prefer to be helped. A CRM does this by analyzing information from all contact center channels your sales team is leveraging to give a more complete picture of the consumers journey through the sale’s funnel. By doing this, CRMs show their value as a way to increase customer satisfaction, service and product quality control, but they are also a great tool for boosting revenue.
Here are two ways in which a CRM solution can help boost your enterprise’s bottom line:
- Improved user and customer experiences: With an integrated CRM solution, your sales team will be able to see when last a customer called, who he or she spoke with and what was said. As well, a dashboard display will inform your agents of recent purchases and where in the sales funnel a transaction was made or abandoned. CRMs help sales teams gain insights into every interaction consumers have with your enterprise. This not only enhances the engagement and competence of sales staff but also leads to a better experience for customers—who no longer have to repeat themselves—and a greater ROI for your business. In fact, research shows that the average return when using a CRM solution is about $5.60 for every $1.
- Proactive sales approach: As discussed above, CRMs give your sales team a more holistic view of each consumer’s journey through the sales funnel. The significance of this is that it allows your sales agents to be proactive in their approach and allows them to provide services to consumers before they even ask for them, based on past interactions. This is paramount to ranking high in customer service reviews that directly affect your bottom line. As research has shown, 78 percent of consumers have canceled a transaction based on a poor service experience alone. Use of a CRM will increase customer satisfaction, helping you avoid the loss of sales associated with poor service.
Your enterprise has a ton of great data on the consumers who interact with your brand on a daily basis. However, unless the systems which collect these data sets are fully integrated into a CRM solution then you’re missing out on potentially higher revenues.
To learn more about how an integrated CRM solution can help your business, click here.