However, you rarely hear about all the other benefits. Yes, there are hidden benefits of using CRM tools.
If you’re on the fence about trying a CRM solution, prepare to be amazed by all the benefits your business could be enjoying.
CRM software isn’t just about managing your active customers. It’s also about keeping a clean contact list. If you’re sending out 100 emails a week, but only 45 are ever opened, why keep the other 65 on your contact list?
Constantly sending out messages to leads who obviously aren’t interested isn’t helping your business. You may want to send one last message or call them directly to see if they’re interested. If not, it’s time to remove their name from your list and focus on the leads who are interested.
Keeping a clean database makes it easier to determine how effective your sales and marketing techniques are. You’ll also have an easier time managing and nurturing your leads.
Did you realize people change jobs an average of 10-15 times in their lifetime? This means the contact details you depend on right now could easily change in a year or less. With CRM software, you’ll see reports that show which contact interactions are suddenly changing. Instead of wasting time trying to reach a contact that no longer exists, you’ll see that something is wrong.
You can then contact the business directly to see if they have a new contact. Odds are, you just need to update an email address, phone number and/or name to stay in touch with your customer. You can’t always rely upon the customer to let you know about the change.
Do you know what type of contact your customers prefer? If you’re using CRM software, the answer should be clear. Yes, it’s true. You don’t have to just guess any longer. Perform A/B tests to determine whether customers respond better to emails, SMS, phone calls or even collaboration platforms you share.
After all, why waste time with contact methods that just don’t work. Customize your contact strategy for the customer and you’ll build a much better relationship with them.
The CRM market was the largest software market in 2017 with sales topping $39 billion. Part of the reason is because it helps businesses better understand their sales cycles. Could you honestly say where you are in the sales cycle for any given client? Is it time to send an estimate or an invoice? When should you follow up from your first message? Did you provide all the details they last asked for?
When you’re trying to manage hundreds or thousands of customers, you need a central way to track what to do next. CRM software is often touted for helping manage customers, but it also keeps your sales cycle on track. You get notified about what to do next so customers aren’t left out in the cold waiting for your response.
Repetitive tasks lead to hours of wasted work. For instance, how often do two sales employees contact the same lead? How often are messages answered multiple times for the same client? When there’s no easy way to tell when a customer has been contacted or what happened during the conversation, it’s easy to end up repeating the same lead contact process multiple times.
Not only does this waste time on your end, but it wastes the client’s time. They want to know they’re working with a professional business. It’s vital to reduce the repetition and ensure everyone knows when someone was contacted and what happened during the contact.
You might not think of CRM software as having the ability to improve your business reputation, but consider the example above. If your customer details are disorganized, you’re going to seem disorganized to your customers too.
Perhaps a customer asked you to follow up in a week with some details they asked for. If you don’t get notified, the customer is never contacted and you lose them. All of these mistakes hurt your business’s reputation. Over time, you lose valuable clients. But, you don’t have to as long as you use CRM solutions that optimize your business.
CRM tools are great and you can’t deny the hidden benefits. However, some businesses can’t afford multiple solutions to better manage their business, which leaves them without CRM software.
At KOI, we don’t believe businesses should have to pick and choose to save money. No matter what your business’ size or budget, you should have access to the same powerful tools. This is why we created our all-in-one business management software, which includes a CRM solution. You’re able to do more, while paying much less. Consider partnering with KOI today and find out for yourself why KOI is the best and last Business Management Software you’ll ever need.