Did you know that for every dollar you spend on your CRM, you get an average return on investment of $8.71?
As your business scales, using great customer relationship management (CRM) software can increase your team’s productivity and make you more money.
In fact, sales teams that use a CRM system see a 34-percent increase in productivity.
9 benefits of using a CRM for your business
- Make it easier to upsell and cross-sell customers
- Provide a single source of truth in your organization
- Track deals
- Manage customer relationships
- Nurture leads
- See detailed reports and forecast future sales
- Reduce training and onboarding time for new hires
- Enable faster decision-making
- Automate tedious tasks
1. Make it easier to upsell and cross-sell customers
It’s easier to sell to an existing customer than to find new ones. Your CRM can help you do that since you can quickly look up what a customer last bought, any important details about their account, and any specific things they’re looking for help with.
You can then take a consultative sales approach and offer tips and solutions for any relevant issues. This can also help you build trust and rapport with prospects.
2.Provide a single source of truth in your organization
How often do you find yourself having to check your inbox, Slack, a Google Doc, and multiple spreadsheets just to get an update on a particular deal?
With a CRM system, there’s just one place to search for customer details, see a particular deal’s status, or view sales data. This improves both communication and efficiency for your team and reduces information/knowledge silos.
From initial contact and sales calls to your sales quote, customer support emails, and repeat purchases, you can map out the entire customer journey in your CRM. You can do this for both individual deals as well as to get a bird’s-eye view of your entire sales pipeline at any given time.
4.Manage customer relationships
If everyone in your sales, marketing, and support teams is using your CRM, it’s easier to manage customer relationships. You can see the latest purchase a customer made, if they opened a particular marketing email, and any recent support issues.
Just because someone enters your sales funnel doesn’t mean that they’re ready to buy. This is where having a sales process in place to educate prospects comes in handy. This is ideally a mix of personalized emails, phone calls, and email drip campaigns. Having a CRM in place can not only automate the drip emails but also ensure that no prospects fall through the cracks.
6.See detailed reports and forecast future sales
These are all questions you can get answers to within your CRM. You can also use historical data to do sales forecasting, which can help you plan sales goals and get in front of hiring and operational needs.
7.Reduce training and onboarding time for new hires
On the topic of hiring, your CRM can help you streamline your onboarding process for new team members. You can store all of your SOPs and training guides in your CRM for easy access. In addition, you can build sales playbooks, templates, forms, and processes to ensure every salesperson receives the same training.
8.Enable faster decision-making
Being first to an opportunity can be a gamechanger for sales teams. Using real-time data and sales forecasts from your CRM, you can react quickly to market trends as well as competitors in an informed manner.
9.Automate tedious tasks
There is a ton of administrative work involved in sales, from sorting out legal obligations to managing contracts and filling out forms to scheduling meetings. This is time your salespeople aren’t prospecting or selling.
You can automate many of these administrative processes right within your CRM.
From tracking deals and managing customer relationships to automation, faster decision-making, and better reporting, there are many benefits to using a CRM in your business.