CRM implementation may seem like a hard disruption at first but its readily available historical sales data ensures key intelligence which results in better processes and overall customer experience. Here are five ways a crm system can be used to manage your sales pipeline.
1. Tracking gaps
By viewing opportunities from all dimensions, CRM can be used to identify and monitor any unnoticed areas and gaps in a business, which may be otherwise hard because every individual and department is focused on a single arm of the business. CRM will make it possible for all departments to examine transactions and deliver more to clients and customers. Also, the referral tracking feature ensures solid relationships between clients and your organizational employees.
2. Authentic forecasting
A CRM that contains an option for analytics and reporting lets you understand your prospects’ journey and forecast conversion rates as well as sales growth. With a CRM system, the forecasts are more likely to be valid and true. With this information, your sales team will be motivated towards attaining high and realistic targets. CRM will result to coherent sales and will boost the productivity of your salespersons which translates to your company’s growth.
3. Integrating and automating tasks
Through integration, CRM makes it easy for your sales team to schedule follow-up email reminders especially if handling a huge contact list in different time zones. Marketing integrations also help to get rid of manual entry of data by automating tasks. This reduces the repetition of tasks by your salespersons. The time spent on administrative tasks can be spent on other more vital tasks with an integrated and automated system.
4. Allows for mobility
Innoppl Technologies carried out a study which established that while 22% of sales representatives who don’t use mobile CRM reach their sales quota, 65% of those who use mobile CRM reach that target. This indicates the importance of using CRM not only in the office but also outside the office as your salespersons can use it remotely to increase the usual number of sales. A mobile-friendly CRM system allows for flexibility of timely follow-ups and a strong relationship with clients. Mobile CRM will enable a salesperson to avoid missing out on new opportunities and leads since they have access to sales data on-the-go.
5. Lead nurturing
CRM confines vital information and interactions of different clients at a central place which makes it more accessible. It saves the salesperson time in pulling the information from different locations. Communication with previous clients and prospects is made much easier when data from previous interactions is centralized. A Forrester study proved that sales-ready leads generated by companies that perform exceptionally well at lead nurturing exceed by 50% with 33% fewer costs. Lead nurturing is, therefore, a vital element for the smooth running of your sales pipeline.
Companies can decrease signup abandonment by having a system in place that can guarantee their team follows up on undecided customers. If your sales team is not maximizing efficiency, consider investing in CRM as it impacts the management of sales pipeline.