How can a Fully Integrated CRM improve revenue and profitability?

How can a Fully Integrated CRM improve revenue and profitability?

CRM has become the heart of any business. The technology platform helps unlock the valuable information from the customer data, so that you could plan the right strategy for targeting the right customer. It gives a 360 degree of the customer data, necessary for all the levels of customer interaction.

For the sales team, it is a boon as it helps in various aspects such as:

How can a Fully Integrated CRM improve revenue and profitability?

The major benefits, are that it empowers to:

  • Increase the number of sales
  • Induces the customers to return
  • Helps to cross-sell and upsell the products 

So how does it do?

  1. Rationalizing each of the sales moves: The biggest challenge which most of the sales representative’s face is keeping track of the sales activities and following up with the leads. CRM helps to a great extent in rationalizing each of the sales moves. It streamlines the complete sales cycle, so that every team member could reach their target faster. 
  2.  

  3. Improving customer service: Every organization nowadays put a higher emphasis on customer service.
  4.  If you look after your customers, your customers will look after you!!!!

    44% of the businesses are planning to increase the IT budgets in 2020. They are going to spend this, on the customer-facing products additionally. Find the below image:

    https://www.infoclutch.com/data-appending-services

    CRMs which are designed to manage customer relationships, could also help in other aspects of businesses, such as productivity of an employee that indirectly impacts customer satisfaction and higher revenue.
     

  5. Improving internal communication: With the integration of CRM, organizations have better internal communication between all the departments. The sharing of the customer data between each of the departments becomes a seamless process. It also helps the members to work as a team and optimize the customer experience, termed as one of the major benefits of the CRM. 
  6.  

  7. Reducing the number of lost leads: Many times, the sales teams are too focused on interacting with the customer who has actively engaged with them that they lose track of some high potential customers, who browsed their website. A good CRM system helps in collecting all the information which the sales team missed out, to plan the next strategy for increasing the customer base.
  8.  

  9. Gaining valuable insights: As the CRM stores the complete information in a single centralized location, it is easier for analyzing the performance as a whole. You could gain access to the information whenever you like, and analyze it further to gain valuable insights.
  10.  

  11. CRM with automation: When CRM is combined with automation, it helps in providing targeted and interactive email campaigns. Marketing automation is known to make use of email marketing campaigns and web forms to drive the process in the right direction. On the floor, these two tools complement each other and generate good business results. 
  12.  
    The CRM automation facilitates in automating the repetitive and manual tasks for improving productivity and streamlining the work. The automation helps to encompass a range of different functions such as service, marketing, and sales activities.
     

  13. Saving the investment: Integrating CRM in the company’s process is not cheap, but it could help you save money in the long-run. As CRM helps to streamline, organize, and automate the day-to-day business operations, it saves you from investing money on more resources. 
  14.  

  15. Modernizing the sales process of the organization: A CRM software helps to automate the sales process of the organization. 
     
    As acknowledged, technology facilitates the right modernization and has a greater role in generating good revenue for the organization. So, when a CRM is completely integrated into the process of the organization, it streamlines the entire sales cycle, further, resulting in closing a higher number of sales deals. 
     

  16. Helping to upsell: A fully functional CRM also helps the sales team to upsell the products to the existing customer. For example, when a customer buys a new shoe, a sales representative might ask whether he needs the branded one. If the customer says “yes,” then this is the right upsell at the right time. 
  17.  
     Upsell could be easily achieved through the CRM as it helps to keep track of the entire sale process and identifying the timely sales opportunity.

    How can a Fully Integrated CRM improve revenue and profitability?

    As a sales representative, you could also efficiently carry out the cross-selling process by selling them additional products.

  18. Improving customer retention: Increasing the customer retention rate by 5% increases the profit by 25% to 95%.
  19.  
    CRM helps to retain customers as the sales team would have complete information of all the potential customers who reached out to them. Visibility across all the relationships could help the teams proactively addressing the risk accounts and satisfying the new customers with the best opportunities at the right time. 
     

  20.  Helping to sell faster: The manual entry which many of the representatives do in small businesses kills the productivity of the sales team. The job of any salesperson is to generate revenue by speaking to the customer. So, if they do not get the time to do the real job, then the organization could see a drastic decrease in revenue, sales, and profit.

 
CRM is a savior in such instances, and removes the job of the repetitive and manual tasks. A standardized sales process gives the team a well-planned roadmap for closing more sales deals and reducing the length of the sales cycle. With this, you can accurately predict the sales and improve the sales methods for implementation. The sales team can now entirely focus on interacting with customers.

Conclusion:

 

A fully integrated CRM is the way to go for many organizations. Many small businesses do not have a distinct and dedicated sales team. Without a fully integrated CRM, most of the leads do not get converted into sales.

The CRM system helps the employees to increase revenue by streamlining the entire process. When you have a systematic and steady flow of information, it becomes easier to contact the potential customer at the right time, to get them converted and improve the business results of the organization. 

Robert Jordan

Robert Jordan, a seasoned marketing professional with over 10 years of experience, currently working as Media Relations Manager at InfoClutch Inc, which offers most sought after technology database & technographic data with other services like data licensing, data appending, etc. Have expertise in setting up the lead flow for budding startups and takes it to the next level. Have a deep interest in CX, SEM & Social Media related discussions. Always open for new ideas & discussions.

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