How does a CRM work?

Here is how a CRM works and helps your business to grow

1. Bring all leads and customer data into one central place

Today, leads come from multiple sources - Facebook ads, website enquires, walk-ins, or third-party portals. Your existing leads are in spreadsheets or phone contacts.

Managing each source of lead is a herculean task and each source has its own peculiarities.

A good CRM would bring all leads into one central location and bring visibility of lead data to you and your sales team.

2. Follow up and close more deals

It is said, “Your fortune is in follow-ups”. Any lead, to get converted into a customer, needs 7 to 9 follow-ups on an average. So, it is important that you follow up with your leads regularly without fail.

A good CRM can track when you contacted a lead last time and when you need to follow up next and who will follow up.

A small business owner cannot do everything on his own. So, he or she needs to distribute and assign leads using a good CRM to specific people in the sales team for follow-ups.

3. Make your sales workflow more efficient

The central part of any CRM software is workflow management. Once you place a lead or a prospect, the CRM software will funnel it through the sales process, while associating the lead with relevant records on calls, documents, reminders, and messages.

Instant response to your leads can be automated easily using a CRM and helps in improved sales conversions.

4. Get alerts on essential sales tasks

Based on your tools and settings, a CRM software can remind you of sales actions that need to be done. You can initiate phone calls or perform pre-scheduled activities like sending emails.

Everything performed with the software is recorded, thus giving you enough time to make better action plans.

CRM adaption, eventually, results in higher customer satisfaction and an improved retention rate. The first 10 minutes is a golden window for making a contact and establishing a relationship. Companies responding in the first 10 minutes have a huge advantage over others.

5. Generate more opportunities:

CRM can be used even after the deal is closed. Customer issues can be tracked by the software by alerting him or her with a question that suggests a need for upselling or cross-selling.

In such cases, for more potential revenues, the customer can be funnelled back to the sales pipeline as a new lead or an opportunity.

6. Integrate with other key business systems

A CRM can work side by side with other key business systems and applications. CRMs can also integrate with third party lead generation systems, e-commerce platforms, marketing automation systems, billing, or accounting systems.

A good CRM can help you to drive powerful results for your small business when used in the right way. It enhances sales, marketing, and customer service levels for your business.

In addition to streamlining sales operations, a CRM software can help you in building a better sales & marketing strategy and have a positive impact on the long term growth of your business.