Being one of the fastest-growing markets globally, CRM offers the opportunity to look at the current workflow and customer relations from different perspectives. In addition, there are many added values that new generation CRM applications will bring to your business.
Customer Relationship Management (CRM); monitors, analyses, and manages all interactions of your representatives with your customers, potential customers and business partners. Promising to make businesses and sales representatives more productive, efficient and effective, CRM software comes with innovative technologies and functional applications that shape the business world. Being one of the fastest-growing markets globally, CRM offers the opportunity to look at the current workflow and customer relations from different perspectives. In addition, there are many added values that new generation CRM applications will bring to your business.
Let’s take a closer look at 19 benefits of using CRM for your company:
1- It helps your business to grow
Modern CRM software has many functions, but CRM is built to improve business-customer relationships at its most basic level. CRM applications collect essential customer information such as internal calls, customer networks, e-mail traffic, demographic information collection, purchase records, and past correspondence. This information is easily accessible to anyone who needs it in your company. A versatile CRM platform makes it easy for your employees to quickly find everything they need to know about customers and deliver a better customer experience anywhere.
2- Creates a central database for your sales organisations
New generation CRM platforms allow all information processed within the organisation to be kept in a central database for the desired period. Customer relationship management tools provide an excellent convenience to follow the dealers’ deals and access the information needed about the new customers quickly. Thanks to the digital archive, in-depth research can be done between names, files and records without wasting time and effort
3- Allows you to follow the field team closely
Cloud-based next-generation CRM programs help you closely monitor the field team. You can comprehensively evaluate, score, and report your field team’s rotation, sales process, purchases, their stage in the deal, the importance they attach to communication with customers, and their feedback. Monitoring the team members working in the field within the scope of the determined program and rules does not put pressure on the employees. On the contrary, team members who complete the tasks both receive more profitable bonuses and benefit from working in a professional environment.
4- Automates data entries
Your team’s e-mails, calls, meetings, and other interactions are automatically recorded thanks to CRM software. All this information is collected and compiled automatically within the system. Data automation updates agreements according to their stage and allows them to monitor every moment of processes such as sales/marketing. It automates the arrangements that must be made within the scope of legal obligations, the forms that must be filled and the routine procedures. It makes your business much more dynamic by reducing the administrative workload.
5- Categorise customer information
A CRM program can categorise the data you collect about them over time by segmenting customer information. You, your employees or representatives can easily prepare a list of customers you can reach based on specific criteria. For example, a sales representative who works actively in the field can visit potential customers by filtering them by location, company size, marketing strategy or deal stage. This way, you can have a clear idea of how to position reach for each client and increase the likelihood of portfolio conversion.
6- Improves reporting capabilities
You can plan your company’s sales dashboards, accounting data and other financial information using the reporting features of your CRM software. The advanced reporting feature helps collect and organise detailed data about your customers and deals. Thanks to the ease of reporting, it is possible to scale and manage agents’ pipelines, existing business agreements and business processes according to segments. You can also use the reporting feature to evaluate the performance of team members and closely monitor their quota targets.
7- Increases sales performance
Making informed decisions is the key to a successful sales organisation. CRM reports make it easy to plan strategically and make decisions based on instant data. For example, monthly recurring revenue (MRR) and year-over-year growth (YOY) reports allowing you to analyse your business or operations metrics. CRM programs also help managers decide which activities and resources might be more profitable for sales reps.
8- Scales sales processes according to your schedule
CRM software gives your sales team the advantage of monitoring leads, potential customers and strategies to follow from a single platform. CRMs also allow you to review specific events such as e-mails, calls, and reserved meetings. In addition, company managers can benefit from the scaled database to develop different business models and analyse which sales processes are most beneficial for teams.
9- Analyses data in detail
Having lots of data about customers is essential. Still, it is also important to know what this big data means and how to use it. CRM software scans big data with specific algorithms and analyses all the data in context and analytically. It quickly separates actionable items into understandable criteria. Metrics such as user access to your services, click-through rates, time spent on pages, site bounce rates, and demographic information directly affect the success of your marketing campaign. CRM software helps you tailor your advertising strategy and optimise your current plan.
10- Improves interaction with your team
It is possible to benefit from CRM tools to ensure effective team communication within the sales organisation and between representatives. This communication is crucial in maintaining a particular brand image among all representatives interacting with potential customers and for the representatives to reach the goal by staying in touch with each other. With CRM applications, all decisions made by the head office are instantly delivered to the team members. In this way, sales representatives will not have difficulty pricing, preparing a site plan or recommending products.
11- Increases internal efficiency
One of the main tasks of CRM applications is to provide data automation. With data automation, users can use their time and resources for more practical tasks. Simplifying all management tasks such as manual data entry, searching e-mails, recording conversations, and contact information with a single CRM application saves time and eases the workload. As routine work in the office is automated, employees become prone to the most up-to-date business processes. In addition, it provides new planning processes for potential customers, more support for field teams, and more motivation for interactive collaboration.
12- Shows your business is professional
Apart from the ability to organise and easily access customer information, CRM also demonstrates that your company operates professionally. CRM applications make the work of your company and your team easier and leave a positive impression on your customers or potential customers. When your customers interact with your company, they expect you to have basic information and historical transactional data about them. Otherwise, the entire workflow process will be tiring and challenging for both parties.
13- Uses social media platforms
Some next-generation CRM tools allow you to reach new customers and markets by using publicly available data of businesses or individuals operating on popular social media platforms. These CRM applications will enable you to get information from the niche areas you need based on general data such as search volume, SEO tools and tags. Extensive scanning on social media platforms helps you create more specific target customer groups or reduce your advertising costs by sharing your message in a narrower area.
14- Provides fast access to information
Another of the best features of CRM software is that it has a central database containing all the information about your customers. Different departments’ access to the data in the company database makes it possible to meet the needs practically from a single centre and reliable sources. This feature makes it easy for sales reps or field teams to see which products their target customer is interested in.
15- Provides businesses with more modern internal communication tools
CRM is equipped with next-generation interaction tools that facilitate communication between your business and your customers. These CRM tools make it easy for you to see how your employees are talking to a potential customer. There are no disruptions in communication within the team. It is ensured that your unit maintains the brand voice in unison. In addition, team members can send important notes, mass e-mails, voice messages, tips and alerts to each other through a single platform.
16- Makes correct predictions
In any business process, it is imperative that you can review your performance by using historical data and develop new strategies according to the situation. For example, you can use automatic sales reports and fundamental indicators with CRM software. This way, you can identify user trends and get an idea of what to expect from your future sales cycle performance. Then, you can optimise your goals and metrics to match these estimates.
17- Allows you to benefit from cloud solutions
With cloud-based CRM software, it is effortless to access customer information quickly, track the status of a particular deal, and review sales data. In addition, using CRM solutions built on cloud systems makes it possible to access company screens from anywhere with internet access without being connected to a specific centre.
18- Accelerates the decision process
It is possible to perform decision processes faster and more agilely using CRM applications effectively. Data analysis applications that use real-time data and sales forecasts enable you to make quick decisions according to market trends and competitors and react to instant changes.
19- Facilitates cross-selling
It is easier to sell to existing customers than to find new customers. Your CRM software is your most effective tool for doing this. You can take action according to a customer’s last purchase, how often they use your services, their usage habits and expectations, and enable your customers to benefit from special discounts and attractive deals. After the process, you can take a consultative sales approach and offer tips and solutions for any related issues. These also help build trust with potential customers and increase your brand awareness.
In summary, using a CRM system will increase employee productivity, ease the workload, provide ease of storing internal information in a central place, improve adaptation to next-generation technologies, develop strong business relationships, and help your team close more deals.