A CRM can centralise information, monitor processes and performance, as well as improve efficiency across an entire business. What does this mean for sales processes? Think about the amount of time spent on each task in your sales process, then factor in that an estimated 53% of a salesperson’s time is spent doing admin work; now, imagine what this would do to your sales figures if that time could be spent of selling instead. CRMs offer the unique ability to streamline sales processes and reduce the time spent on administrative tasks.
Your sales team have many requirements that can be handled by a CRM. Let’s look at three ways where using a CRM can enhance the efficiency of your sales processes.
1. Visibility on prospects in the sales funnel
In order to make the most of your sales funnel, you require total visibility. One way of doing this is to integrate a computer telephony integration (CTI) with your CRM. This will dramatically enhance visibility by improving:
- Efficiency: every call taken by your sales team will link to the CRM with customer data being easily accessible.
- Effectiveness: reps will be able to create and prioritize call lists. By segmenting and targeting contacts that have the most potential, resources will be maximized, providing the best returns.
- Insight: because all data will be highly visible, the volume and quality of the information provided will be increased. Historical reporting can be generated automatically and real-time insights can immediately flag up performance data. This intelligence can be used strategically to make a hugely positive impact upon sales figures.
2. Sales process automation
When sales processes are automated, your team save time and can concentrate on more important tasks. The more you make use of your CRM to automate, the more time sales reps will have to actually sell.
Following up leads is vital. 80% of sales take up to five phone calls to close; imagine if your CRM could remind your sales team when to make those calls (particularly useful for reps who are juggling lots of clients). When you make your CRM selection, you need to choose a system that will allow direct calls to be made and emails to be sent. By doing so, everything will be logged and recorded. Your CRM can also prioritize leads by using a lead scoring system, with rules set by the operator, based on conversion probability. Calls can be assigned immediately by the CRM to specific sales reps. With time being of the essence, the lead is far less likely to go cold. By doing this, revenue can be increased by 10% or more in just a few months.
Finally, do your sales team use Excel, or similar, to store leads and data? The CRM can do it for them. You don’t want your reps wasting time each day on data entry when they could be doing more important tasks. Once customer information is in the CRM, reports can be produced automatically, flagging up progress reminders.
3. Accurate sales forecasting
Sales forecasts need to predict the future of your company’s prospects, enabling you to make sound decisions. Get it wrong and management may as well be working in the dark. By using the CRM to store key data, it can then be analyzed and compared. As long as the information is entered accurately into the system by everyone involved in the sales process, the person creating the sales forecast will have everything they need in one place. By being able to view historical data and produce tailored projections, the insights revealed are going to be far more valuable and benefit the company. The CRM can quickly help to identify trends, show details of sales cycles and even individual team metrics. With these valuable insights at their fingertips, managers can produce sales forecasts that are far more accurate, enabling them to work with their team to boost overall performance.
It is plain to see that by using your CRM in the right way, sales processes can be far more streamlined and your company performance vastly enhanced.