If you’re a sales manager, chances are it is easy for you to see the benefits that come with CRM systems. The sales data you receive helps you make better decisions and the fact that the system stores that data at a location you can access at any time is another icing on the cake.
But what about the average salesperson in your company?
Chances are, these are not the individuals in your organisation excited about any CRM, at least at the start.
To them, CRM is just another tool.
Even if this was true, the CRM ecosystem has changed. Now they have evolved into assets that everyone can use, and as tools that more users can interact with, more hidden opportunities are revealed.
Why have CRM systems for start-ups become critical in finding such opportunities, and how does the CRM accomplish it? Let us discuss this.
What is the Importance of implementing a CRM in your organisation?
We are now driving towards a more data-driven economy, and as the quantum of data your organisation receives from your customer increases, so does your workload.
But here is the thing, customer requirements haven’t changed. They still need a more personal touch from your efforts to provide the services. However, managing those needs is difficult using legacy systems.
You see, legacy systems were only accessible to the manager. The situation created a myopic scenario where specific customers’ needs got overlooked. It left the customers dissatisfied.
That’s when CRM systems come to the rescue. It doesn’t only collect data but also segments and analyses them per your organisation’s goals. It compartmentalises and automates many of the tasks within your organisation – allowing you to pay attention to each customer, satisfy them, and earn more revenue.
How can CRM drive up the revenue of your organisation? By finding revenue opportunities that you’d otherwise overlook by relying on legacy systems
Finding hidden opportunities with CRM
It is a hard fact that customer needs aren’t set in stone. They change – sometimes according to their requirements, and others according to the offers they receive. With a Customer Relationship Management System, you can meet all morphing needs by following these five tips.
Upselling and Cross-selling:
Upselling is the method of pitching a higher-cost item to the customer. Traditionally, customers would frown at such an offering, but you can take a different approach with CRM.
CRM will allow your sales reps to upsell and cross-sell by generating product recommendations based on their purchase history. The customised recommendations that your customers receive have a higher acceptance rate. And if it matches their genuine needs, customer satisfaction skyrockets.
You can take it one step further by using CRM data to find customers happy with our services and create product packages with add-ons that meet their momentary requirements. Timing is also an essential element. You can time your pitches with CRM to when the customer would find the most needs for your products.
Upselling increases your business’ revenue by 10 to 30%. And, it is 68% cheaper to upsell to the existing customer than to find new ones.
Meaningfully communicating with the customer
As we stated in the previous point, it is easier to sell to customers again than to find new ones. However, that “easiness” can’t exist without proper communication. You need to communicate regularly with your customers, as it can increase purchasing frequency.
With a CRM, you can analyse the details of your customers and deliver marketing communications tailored to each one.
Simply put, CRM creates a personalised communication opportunity with your customer that can increase loyalty and purchase frequency.
Making your employees more productive
Let’s reminisce on the earlier point about standard sales reps having access to CRM. Legacy systems, although practical, had limited accessibility and modules.
Modern CRMs are different. They come packed with multiple easy-to-use processes in a single system. The best CRM systems also provide better tutorials and programs that reduce the time you’d need to train your employee while increasing employee productivity.
All the time-consuming redundancies go away with CRM. As multiple professionals can engage with the same task and communicate, a seamless process is created for sales.
Your employees won’t need to spend time handling administrative tasks such as cost-benefit analysis, qualifying leads, and data entry. The CRM system automatically takes care of those.
Cutting down time on administrative tasks will help you run your business operations smoothly with a minimum workforce. It will reduce your expenditure while enhancing your profits.
Targeted Marketing to find new customers
It is no news that you need to target your marketing efforts to get convertible leads. Without knowing the demographic to target, you won’t be able to bear the fruits of your marketing strategies, regardless of how powerful they are.
However, targeting a suitable customer base is a task that’s easier said than done. CRM makes it more accessible. It lets you filter your leads depending on the interest and demographic of your audience. Your marketing efforts will target the population and increase your chance of winning customers.
With cross-selling, you can reach out to your customers via platforms you didn’t think of before, such as mobile or social media.
There is a charm in putting a more hands-on approach to your work, but it is also time-consuming. A CRM can take over a vast array of business operations. They can be a chatbot, marketing automation, onboarding, billing, and payments.
CRM exists to put all the organisation’s members and customers on the same page. When administrative tasks are automated, you can focus on more profitable business operations.
CRM lets you tap into what you’d otherwise miss when you’re in the process of selling. It also cuts down administration and training costs, removes wastage of time, and puts your departments on the same page. The seamless communication it facilitates helps you trim all the fat from your efforts and reveal hidden venue opportunities.
Interested in a CRM that goes beyond and lets you access these hidden revenue opportunities easily? Reach out to the Telagus team. We’re the developers of Telagus, a one-of-a-kind CRM that exists to make your business process more streamlined, your team better, and your enterprise more profitable.