What’s the first thing that comes to your mind when someone asks you what your most valuable asset is? Your employees? That’s definitely true because they’re essential to an organization’s success. Your innovative and unique product or service? No doubt that this is also a correct answer, and we all know that famous quote “A good product sells itself” (which is only partly true). However, without customers, all your employees’ efforts would be in vain. If you want to be successful you need to understand your customers and that’s where CRM comes in. This powerful tool will provide you with essential information about your customers so that you can establish and maintain successful relationships with them.
Know The Customer
This should be the cornerstone of any successful sales and marketing strategy. The more you know about your customers, the better service you can provide them with, which will ultimately increase customer satisfaction. The key is in an impeccably organized and accessible customer database, in which all past interactions will be collected, filed, and analyzed. CRM enables you to create and maintain such a database, and this practically means that your employees will have a gold mine of relevant information at their fingertips. The accessibility of customer information across departments is additionally improved if you use the cloud technology. This prevents one of the biggest issues when it comes to coordinating efforts to achieve customer satisfaction because instead of keeping their own files and systems, various teams and departments within an organization can take advantage of building a powerful database with a 360-degree view of the customer.
At Their Service
There’s a common misconception about why customers leave, and many salespeople believe that the main reasons are pricing or dissatisfaction with the product itself. This may come as a shock to you, but bad customer service is a deal-breaker. 1. According to a study published by the Rockefeller Corporation, a stunning 82% of customers leave when they feel that you don’t care about them and that you aren’t interested in the success of their business. CRM tools can be of great help in this department because they enable your customer service representatives to quickly assist a customer with a problem, as they can access all the relevant information about them, such as past purchases and a list of preferences. In combination with a database of potential issues, the problem can, in most cases, be solved within minutes. This will lead your customers to think that your company’s a keeper!
Qualify and Disqualify Leads
Salespeople frequently make a mistake of investing a lot of their time, energy, and money into half-baked, unqualified leads. They try to move them down the sales funnel, although such leads aren’t interested in purchasing at all or aren’t yet ready to purchase. CRM tools can prevent this by providing your sales and marketing teams with various qualification parameters, which can help them identify where exactly a lead is positioned within the funnel. For example, a lead that has opened your email, and browsed through your website shouldn’t be treated in the same manner as a lead that has visited your pricing page or signed up for a trial period. This is of vital information for structuring your nurturing approaches for every stage of the sales funnel. Bear in mind that closing a sale is a time-consuming process, so CRM tools can help you nurture every lead in an effective way without wasting your resources.
Stay on Top of Things
Sales processes are very complex and require a lot of various tasks that need to be timely performed. That’s why it’s essential to use CRM tools in order to effectively schedule and manage demo calls, follow-up calls and emails, all kinds of deadlines, and various data updates. We’ve already discussed how upselling and cross-selling can increase your profit, but in order to successfully implement these two strategies, you need to have detailed information about each and every customer. For example, if your customer’s warranty is about to expire, you can offer them an extension plan. Or, in cases that certain items require refills or replacements after a certain period of time; you can let your customer know that it will soon be time to reorder spare parts and refills based on when they made their initial purchase. Such moves will convince your customers that you care and that they matter, which is, as it was stated in the third paragraph, the most important factor for customer retention or churn. As you can see, little gestures make a big difference. CRM tools help you keep track of these things, and they automatize the whole process.
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