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Almost 73 percent of companies have no business processes for contacting leads after the first sale. If you are a small business owner, using Customer Relations Management software can help you generate new customers and manage prospects and customer information. Here are three CRM benefits for small companies that boost leads.
Nurturing new leads can be long and expensive process for start-up companies. However, Customer Relations Management software can take some of the pain away. A CRM system provides small companies with a place to keep clients data in one place. Small-business owners can move a client through a sales funnel by collecting relevant marketing data and sending out relevant marketing materials to clients on a regular basis.
Organizations will be able to solve business problems with Customer Relations Management technology. Software enables business owners to track incoming leads, manage those leads in an efficient way and improve productivity. CRM also helps business owners organize client data and find the best ways to communicate with prospects.
Nurtured leads are more likely to purchase 47 more compared to non-nurtured leads, making it a more profitable to explore for small-business owners. CRM solutions can make the lead generation process easier.
Collecting customer analytics is big business for brands. The marketing executive spends approximately 8 percent of the marketing budget on marketing analysis, a number that is expected to increase in the coming years. Customer Relations Management software also provides small businesses with a wealth of information about their client base, including deep analytics for marketing, customer service and customer retention. The result is insightful data on customer trends and behaviors that can be used to predict growth initiatives or enable brands to make better business decisions.
The bulk of data used by small-business owners is in real-time, which provides them with accurate, up-to-date insights into how clients interact with a website, consume products and services, and perceive a brand. Customer Relations Management analytics can be used to segment clients for powerful lead generation or create new direct marketing campaigns to increase the visibility of a brand.
In the past, small-business owners had to manually generate prospects and follow up on every lead to generate sales. Marketing software automates most administrative tasks, which enables business owners to segment demographics and deliver high-impact advertising material across multiple channels.
As businesses understand the importance of marketing automation 49 percent of brands have adopted marketing automation and 55 percent of B2B companies use this technology. Companies which use marketing automation software to integrate their current Customer Relations Management system will have an edge over their competitors.
Marketing automation with Customer Relations Management integration lets businesses automate lead assignment and lead qualification, get more value from their marketing campaigns, and gain deeper insights into prospect behavior.
Small-business owners who want to take their campaigns to the next level can consider advanced integration techniques that will benefit their brand.
Here are the benefits of marketing automation: Marketing and sales executives who combine CRM and marketing automation can automatically assign leads to sales team based on client analytics, set up "campaign triggers" -- based on customer behaviors like lack of contact -- to drive business growth and create activity alerts when a customer performs a particular action, such as visiting a Web page or clicking on a call-to-action button.
A Customer Relations Management system can help small-business owners nurture clients, gain insights into leads, and make marketing automation processes cost effective and efficient. CRM software is more than just a big database. This technology provides small companies with the resources they need to boost leads and increase revenue.
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Most marketing analysts agree that marketing and CRM integration is vital for manufacturing companies. According to a recent study by the Content Marketing Institute, three quarters of manufactures use content marketing. But only 26 percent state that their efforts are effective.The reason for the rest of the struggle is targeting right audience and finding the right content. More than 60 percent said that converting web site visitors into prospects was an immediate issue related to their marketing efforts.All of the problems above can be solved with a Customer Relations Management System.
Many organizations only know the surface of what can be done with CRM for marketing. Your CRM is the single most important marketing tool in your business.
Here are some ways to use CRM for marketing advantage:
A Customer Relation Management System is the domain of the sales departments. CRM integration is essential for marketing and sales department to work with coordination. A CRM system will make sure that marketing and sales are in lock-step around the goals, scale and scope of the CRM deployment. It is important that sales and marketing are together. This will enable two departments share information, common data, and have a unified definition of qualified leads.
Many marketing experts would agree on the importance of the shared definitions for sales and marketing.
Sales and marketing must agree on a common definition of a lead and who is responsible for handling specific actions throughout the integrated selling process. Organizations should answer the questions of what is a qualified lead for marketing and for sales.
Making the most of the Customer Relations Management System marriage between sales and marketing requires careful planning to present leads with the right marketing message at the right time in the sales cycle as well as defining the business processes and key features needed by each group. There should be a clear and specific plan in place.Organizations should plan and find out who will have access to specific of the CRM, other systems that will integrate with the CRM, lead qualification, how automation will be executed, content marketing strategy, how to track website visitors.
One of the critical factors on the CRM adaption is the employees’ understanding of the system and how they optimize the use of the system. One of the most common problems with the CRM industry is how often employees underutilize these powerful systems. Employee adoption of a CRM system is critical.
Employee training should include business process training and also technical training. Arguably more important than technical training is process training.
The best place to start is to teach sales and marketing employees on how to set up a lead management process .This includes business processes like how you plan to generate leads, how you will develop and educate leads who are not ready to buy for sales department. Marketing employees need to find out how to create the content you need to inform your leads through each of their buying phases, how you will prioritize, score and disqualify leads. Once the leads are generated there has to be process to pass these qualified leads to sales, and how leads will be routed to partners, distributors and sales people.
A Customer Relations Management Systems is just more than a functional address books. One important function of a good CRM system is automation. For sales departments this means a reduction in data entry, but automation also can play a strong role in lead assignment and marketing efforts.
With a CRM system you can put automation rules in place. You can have your system automate lead assignments so that only the most qualified leads are getting assigned to sales for follow-up. The remaining leads should stay with marketing so that they can be placed on lead nurturing tracks which will nurture them to sales-readiness without any work from sales.
A CRM system should have a clean data .Data integrity is essential when it comes to integrating CRM systems and marketing. A CRM system with quality data is important because it will be syncing with marketing automation software. Marketing automation won’t be successful if the data has duplicate, outdated information.
CRM allows complex marketing processes but that doesn’t mean these processes are right for Small to Medium Size businesses. Not many organizations need complex marketing strategies. Keeping things simple and elegant is cost efficient and the most effective in regards to return for every dollar invested.
So while CRM systems have much to offer the marketing department, the most successful marketing integrations are keeping things simple.
CRM technology makes the managing process of companies simple. For Small to Medium Size businesses, CRM helps to close more leads and increase sales. They also improve general productivity. CRM system is not just designed to store customer information but they are popular for boosting sales and increasing profits. These systems are also used to raise the productivity and success of your sales team.
Increased productivity is the result of CRM software in organizations invested in this technology. Collection of information relating to clients is not only vital for making profits, but can also be important in boosting productivity. A CRM technology brings five categories of innovations: administrative, product, process, marketing and service innovation. These creative processes bring a more cohesive and efficient use of Customer Relations Management technology so that more sales are made and to achieve general improvement in the businesses.
Every business has the challenge of getting more qualified leads which means that your business is receiving many unqualified leads and taking time of your sales team and in the end not generating customers -- wasting time and possibly damaging reputations and conversion rates. Customer Relations Management software helps to increase the number of qualified leads. CRM technology with customized features enables more productivity with more streamlined leads.
Communicating with the wrong prospects can lead to an unproductive sales process. With Customer Relations Management software, you can get access into personalized communication information, which will provide your sales and marketing team with information to help them to know where to spend your company’s marketing and sales budget. Resource pitching -- leading to a more reliable customer base.
Sales reports are a routine business practice in businesses however, a lot of time can be spent when sales executives manually create these reports. CRM technology will make your business more efficient because it's quick and easy to generate dynamic reports, which helps streamline the reporting function of your business.
When the information between departments is not shared through the organizations they end up in failure. For any business to be profitable and to achieve success, your organization must possess the ability to share data easily within its departments -- such as marketing, customer service and sales. CRM systems will provide up-to-date information about customers and prospects readily available for your entire business.
Every business should have a sales tracking system that allows the sales team and executives to keep track of actual sales. Using effective Customer Relations Management tools -- especially if your sales team is constantly linked to your company's procedure -- is one of the most efficient ways to track sales.
CRM tools that allow the automatic recording of activities can be used to monitor daily and weekly sales, and keep tabs on other activities like the amount of time spent on meetings and resources put together for setting up customer details.
Your sales executives and team will have access to real time information and be ready to face the market and take on competitors. Developing client engagement entails your company having a very clear strategy in improving productivity, and this concept can be vague without the implementation of CRM system. Although business owners cannot control much, they can be in charge of what companies they can build, what sort of services they render and most importantly, how productivity is greatly implemented in their day to day activities. In the fulfillment of all of these activities, the use of CRM technology is highly important.
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CRM software has been providing the value for your content management, generating leads, improve prospects’ conversion rates, and drive brand loyalty while enhancing the overall customer experience. Customer Relations Management system provides data analytics of your customer interactions that is valuable information for improvement of business processes in organizations. One of the critical values CRM provides is a real-time breakdown of data that can help you boost sales, give you better decision making capability, and empower your sales team to work efficiently. See how Customer Relations Management system can help you improve overall communication, visibility, and profits across your business with these four strategies.
Lead nurturing is a complicated process, easily neglected in favor of clear-cut marketing efforts aimed at prequalified, more valuable prospects, but failing to care properly, lead nurturing can be an expensive practice. Even though persistence and consistency are important for lead nurturing, a smarter tactic is to use Customer Relations Management software to create and send targeted, planned content marketing campaigns that move leads into the sales cycle. CRM can play a big role in lead nurturing. Forrester Research indicates that Companies working on lead nurturing generate 50 percent more sales-ready leads at 33 percent lower cost. CRM software will help your marketing department prequalify prospects so that they can strategically create the type of information to send or schedule a follow-up call when it is necessary. Critical to this process is the use of marketing automation tools to provide ongoing communications, including, surveys, newsletters and links to case histories, balanced by regular offers to connect. Using a Customer Relations Management system in this way allows you to reengage cold leads and nurture new leads while simultaneously reaching prospects in your sales cycle.
Customer Relations Management software presents real time data, providing an intelligent way to investigate customer problems and take quick action to save costs, improve delivery, and keep clients satisfied happy. By collecting data from marketing activities and your Customer Relations Management system, your management team can have an accurate picture that can help you build a tactical and strategic plan to change direction or create an innovative strategies for your business. The dashboard allows a quick scan to drill spot trends, or employees can use lead generation and close rates to build more accurate revenue and sales forecasts. Drill down into category-specific content marketing reports to find parallels between product categories that aren’t selling, and then build a new campaign to reach those categories. Using Customer Relations Management software to gather intelligence leads to the real-time data that give you the flexibility to perfect your systems as business needs change.
A Customer Relations Management system provides a powerful effective system to build collaboration among departments. Using sales-based business intelligence, you can strengthen connections between sales and marketing to narrow the gap between initial interest and purchase. Are content marketing pieces providing the answers that help prequalify prospects? Help the sales team identify missed opportunities and discover areas for potential growth and continued sales. Are there correlations between the number of days for response times and close ratios? Is there a decrease in sales with longer response times? Collecting all this information will help the sales and marketing teams have the data they need to analyze their own results, timing, and effort so that they can map a path toward shortening the time between initial interest and purchase.
Organizations that are intentional about prioritizing customer relationships enjoyed 60 percent higher profits than their competition that wasn’t serious about keeping customers satisfied. Ongoing and persistent communications with current clients should include strategies that position your business as a partner that understands their needs, with the solutions available to help them with their specific needs and challenges. Essentially, communication efforts should focus on maintaining the relationships with existing customers, encouraging new purchases, and generating referrals. One way to achieve this is through the creation of an online knowledge base, using the Customer Relations Management system to track the types of content customers are researching. Then, businesses can use this knowledge to create customer-only webinars and white papers that deliver insight into those topics and demonstrate capabilities of the company’s products and services through case studies that encourage clients to invest more. Eventually analyzing CRM data, businesses can maintain that their customer communication efficiently strengthens customer loyalty.
Customer Relations Management systems are one of the best software to manage customer relationships and automating manual business processes. In essence, CRM systems provide powerful data insights such as historical information of customers and real-time information that your business can use to improve communications implement creative business strategies and increase sales. Start using CRM systems to have the flexibility and knowledge you need to be competitive in today’s market
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A sophisticated CRM system can deliver enormous benefits, from increasing customer satisfaction and generating sales leads to boosting profits and slashing operating costs. A CRM system works by gathering information from multiple data sources and storing it in a centralized location. Once these sales leads and consumer data sets are integrated, this information is then analyzed to enable tailored marketing campaigns, superior customer service and improved decision support.
Consider, for example, a sales associate in a luxury goods retail store. The moment a customer walks in the door, the customer service representative can access key information from a Web-based CRM app using a tablet PC. Details might include a customer’s buying history, product preferences, marital status and loyalty program membership. Using these data points, the sales associate can then provide a tailored customer shopping experience, as well as take advantage of any up-sell opportunities.
As a result, Radu recommends that leaders take the time to consider what business problems they want CRM to address, what business processes CRM will impact and how the system will grow with the company’s needs. Only by answering these questions can organizations begin to implement a CRM solution worthy of adoption.
The flipside of poor customization is tailoring a solution to a point where it’s no longer recognizable. Most CRM solutions feature three primary applications: sales force automation, marketing and service/support. For the most part, vendors tend to consolidate these three functions into a single, comprehensive suite, along with a string of other complimentary functions. But that doesn’t mean a company has to take advantage of every aspect of a CRM system, from its call center tools to campaign management features, all at once.
Despite numerous hurdles, there are steps companies can take to drive CRM adoption. This blog post explores the top 4 strategies for gaining CRM acceptance.
These days, data lurks in all kinds of systems, from payroll to sales automation. Getting a CRM solution off the ground requires that these disparate data sets be migrated and then integrated into a single CRM system.
“It’s very important for marketing to work with the same data as the sales force,” says Radu. Consider, for example, a marketer who decides to send a “Come back soon – we miss you” promotional email to every customer that hasn’t made a purchase in the past six months.
However, what if a sales team had already contacted 90% of the company’s lapsed customers within the past two weeks as part of a sales initiative to reactivate old accounts? By failing to properly integrate a marketing automation database with a sales database, a company risks inundating customers with repeat messages, all of which can embarrass employees and
impede CRM adoption.
One way to avoid such an occurrence is to hire a systems integrator. These experienced thirdparty providers can help organizations with key integration, deployment and implementation processes. What’s more, a systems integrator can enable a company to develop a master data strategy that determines which systems contain the most accurate and up-to-date information.
Overworked and overwhelmed, many salespeople view the introduction of a CRM system as one more task in an already hectic day. Says Radu: “Salespeople don’t want to sit and punch their information into a CRM system. They see that as administrative work and not as something very important to their job. Rather, they think as long as they have a relationship with their clients that will turn into business.”
Instead of wasting energy trying to convince sales of the business benefits of CRM, many organizations are tying compensation directly to the use of a CRM system. Greater incentives are offered for early and deep adoption, such as higher commission rates and bonuses, whereas laggards are paid less if they refuse to use the system. It’s a simple approach but one that can have an enormous impact on adoption.
A CRM system needs to be where its users are in order to drive adoption. For this reason, many organizations are testing out mobile CRM applications. In fact, according to research firm IDC, 37 percent of the world’s labor force, or 1.3 billion workers, will identify as mobile workers this year. And Gartner reveals that, 80 percent of businesses will suffer revenue loss by not supporting Web-based customer service on mobile devices.
The good news is a growing number of vendors are making their CRM platforms available on mobile devices, including SAP, Salesforce.com, SugarCRM and Sage. These apps work by allowing employees to access and log critical data, regardless of where they are, using a tablet, smartphone or laptop computer.
Case in point, a salesperson in the middle of a face-to-face negotiation can call up information on new product promotions or access updated pricing details to sweeten the deal. What’s more, these in-the-field sales reps can enter information about a client or prospect remotely. Not only does this save them hours in manual account management but it allows marketers with access to the same CRM system to review up-to-the-minute details to better shape campaigns.
Other features include the ability to view upcoming events, access contact information from a single repository and log activities for fast referral.
However, before purchasing a mobile CRM app, it’s important to determine whether it’s best to go with a mobile version of an existing CRM system, create a custom CRM app or purchase a mobile app that integrates with other CRM systems. Mobile versions of existing CRM systems are excellent for tech-savvy workforces that are comfortable handling robust features.
Sales and marketing are often at odds when it comes to determining what they wish to accomplish with their CRM system. But if there’s one thing they can agree on, it’s the value of big data. By crunching customer data, from demographic information to buying behavior, marketing teams can better customize their communications and promotional offers. For example, a marketer may wish to deliver a digital coupon to shoppers’ smartphones the moment they step foot inside an electronics store. By delivering an incentive-to-buy at the precise moment of making a purchasing decision, a retailer can significantly drive sales.
In addition to generating revenue, analytics can also help cut costs. Consider, for example, a marketing team that perpetually sends out email messages offering deep discounts to every single one of its customers. But what if a small percentage of these customers were loyal shoppers, willing to pay full price for products. By diving deep into data, retailers can discover which customers should receive coupons and which customers would be willing to pay full price for a product regardless of incentive.
Leveraging these bits and bytes of information to increase sales and cut costs can spur widespread adoption of CRM among both sales and marketing teams. Unfortunately, a staggering 50 percent of marketers agree that data is the most underutilized asset in their organization, with less than 10 percent saying they currently use what data they have in a systematic way, according to a Teradata Data-Driven Marketing Survey 2013. What’s worse, about half (48 percent) of all marketers are still just using data on an ad hoc basis, while about a third (33 percent) have embedded it systematically or even strategically into their standard processes. That has to change for organizations to glean great value from their CRM systems.
A CRM solution can deliver better customer service, streamline marketing efforts and serve as a powerful sales tool. Yet a resistance to change can cause employees to balk at CRM’s benefits, thereby curbing widespread adoption. Luckily, there are steps businesses can take to earn CRM the respect it deserves. Integrating data silos, compensating employees for usage, deploying mobile CRM apps and introducing analytics are all ways organizations can make CRM a revenue-generating asset.
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A successful sales process -- a systematic approach to track interaction with your prospects from their first point of contact through to the closing of a sale -- can generate bigger sales for your brand. Incomplete, inaccurate prospect and client data prevents your sales teams from nurturing prospects and connecting with clients. Customer Relations Management software can revolutionize your sales process by making it easier to negotiate with prospects and understand a buyer's process.
A large 2.5 quintillion bytes of data is produced every day, and 95 percent of the world's data is stored in a digital format. Your sales executive team need to go through reams of this data to monitor leads and qualify prospects. A Customer Relations Management system has a number of advantages over spreadsheet data entry: Reduced time for data entry, easy follow-ups with your customers and prospects, preventing data loss. Because CRM provides complete work flow automation, your sales teams spend less time typing, updating data and finding the information they need to close a sale.
With a Customer Relations Management system, data entry is no longer a time consuming process. Some systems let your sellers add customer details without having to enter a full address, or add social media pages for clients automatically.
With Customer Relations Management software your organization will have accurate data in place therefore it will result in shorter sales processes and accurate customer insights. Spreadsheet software is inaccurate and requires manual input, which could lead to data that is fraught with errors and inaccuracies. Programs like Excel make it difficult to review, understand and share data, something that could impact your sales process; however, when you incorporate a CRM system into your organization, your sales staff can access specific data about your targets, allowing them to move customers through the sales cycle.
Understanding and interpreting client data is crucial if you want to boost leads and communicate with prospects. More brands now realize the importance of client value -- 86 percent of marketers say their understanding of customers is increasing over time -- and having data in one place can facilitate accurate customer insights. According to CRM search, CRM should limit data entry to only the most necessary information, allow users to enter information using their keyboards and hot keys and be easy to navigate.
Lead generation is one of the most important components of any sales. This initial stage of the sales cycle -- before you qualify leads and convince prospects to sign up for your trial or purchase your product -- can be long and laborious.
CRM, however, lets you connect with high-value, good-quality leads and drive business growth. By using real-time data, your marketing teams can create personalized campaigns that enable customers to emotionally connect with your brand. For example, they can produce marketing material based on a target's likes, interests or purchasing habits.
Using CRM to improve your lead generation strategies can work wonders. Eighty-four percent of brands said CRM was "beneficial" when determining the quality of leads, while 45 percent of companies use CRM software to store lead data.
CRM shows no signs of slowing down. According to Gartner Research, the industry will be worth approximately $36 billion in 2017. If you want to simplify the sales process, CRM is a useful and powerful tool in your arsenal. This software automates data entry, provides you with accurate customer insights and generates better-quality leads.
Sales and marketing departments are considered as separate departments but they are both equally important for the survival of the businesses. But in many organizations unfortunately sales and marketing departments operate on their own ways with minimal interaction. Sales and marketing may even work at cross purposes.
To get the most of your organization’s resources, marketing and sales departments should be closely coordinated. A Customer Relations Management can achieve this goal by providing easy way to handle daily operations of marketing and sales. This combined and coordinated operation will bring a united effort to achieve your sales quota with improved bottom line in your company.
What is the definition of a lead? Ideally marketing and sales departments should have the same definition of what a lead is in the sales cycle. Unfortunately this simple definition is more often omitted from the business strategy of the companies. In marketing, a “lead” is someone who has shown any interest in the products you sell or services you offer. In sales a lead is someone who is ready to buy the products of your organizations or to pay for your services.
This leads to sales and marketing working at contrary to each other and eventually sales department complaining about the low quality of the leads marketing department pulls in. On the other hand marketing department complaints about qualified leads they provide aren't followed up and those leads have fallen in the cracks.
A Customer Relations Management system can end this friction by getting both sides to agree on the definition of a lead and making sure those real leads are followed up on and ensuring a lead tracking system created. This practice will eliminate a source of contention; it also increases the efficiency of the sales process and shortens the sales cycle. A CRM system will enable marketing and sales department share information and coordinate the same shared information for the benefit of both.
It is important marketing and sales departments share information, but it isn't always easy to have an effective system of sharing because of the differences in the way both departments organize and use the information. When presenting the same information to marketing and sales there is some work to be done. Simply putting the same information won’t be useful for the other department. Each screen has to be tailored to the individual departments in the format they can use and benefit the most out of CRM software.
A CRM will provide your business can develop a coordinated sales and marketing campaign that coordinates the functions as well as related customer-facing functions such as service. By delineating each department's roles in relation to the others it becomes easier to keep everyone focused on the same goals and using the same strategies.
Coordination makes it easier to pass leads and other information between sales and departments. This practice will eliminate the time needed to follow up on leads as well as making sure nothing gets dropped. Marketing campaigns can be brought into line with sales goals, extending their effectiveness. CRM will help your organization analyze sales and marketing information therefore your departments will able to tie things together.
Many modern Customer Relations Management systems come with a suite of analysis tools built in to facilitate the job. In addition, third-party tools are available that tie into popular Customer Relations Management systems to perform more complex analysis.
CRM Systems is a full-service professional service provider of end-to-end ERP and CRM solutions for the SMB business market.
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