10.12.20 Find out how a CRM system could benefit your business...
Customer Relationship Management (CRM) systems or software is a technology that enables a company to manage interactions with customers and prospects. The popularity and usage of CRM has increased dramatically over the past decade, with the industry predicted to grow by 600% between 2010-2025. The implementation of CRM systems has been so successful that now 91% of businesses with 10 or more employees use a CRM system. Furthermore, the use of CRM systems has resulted in various positive benefits for businesses, some of which are outlined below.
How It Can Benefit Your Business:
· Enhance Communication:
CRM systems or software enables all employees to access the same up-to-date information. This makes it easier for different members of staff to communicate with customers, as they can look up the previous communication history. Thus, enabling them to quickly establish rapport and deal with any issues swiftly.
· Streamline Administrative Tasks:
CRM can automate many administrative tasks such as data entry, customer interactions and customer service. This can benefit businesses as it enables employees to spend less time on admin and focus on following up leads and prospects.
· Ensure Prospects Are Followed Up:
CRM systems can track communication and activities between prospects and employees. This information can then be used to set up reminders to prompt salespeople to contact a prospect. This ensures that all potential leads are followed up.
· Improve Data Analysis:
CRM systems store data in one central hub. This can help improve data analysis as the data is up-to-date and consistent for all users. This data can be used to produce insights such as sales and performance reports. This can be beneficial for businesses as it gives them a greater understanding of how their business is performing.
Many companies have seen great success by using CRM software, with a survey stating that CRM applications can increase sales by 29%, sales productivity by 34% and sales forecasts by 42%. Furthermore, it has been reported that using CRM software can increase sales conversion rates by up to 300%. Therefore, it may be worth considering it for your business, as it could bring great benefits.