Customers are the most important people in your company. You may love your employees and value your vendors. But it’s the people who purchase your products or services who make it all possible.
Does your current CRM reflect the fundamental role your customers play in your business?
If so, then your CRM is improving your business in surprising ways. In addition to improved customer service, half of companies using CRM effectively also experience greater productivity. CRM can increase sales by 29%. And when CRM uses AI to track customer behavior, conversion rates can triple.
Maybe by now you’re wondering if your CRM solution is lacking. Read on for a rundown of the newest CRM features and the four signs you need a better CRM solution.
Newest CRM Does More Than Manage Contacts
If your current CRM solution seems like a ramped-up version of Microsoft Outlook, then the newest offering of CRM features may impress you. The following are just a few of the ways an updated CRM can increase your company’s efficiency.
- Get on top of your social media with CRM. You can keep track of what people are saying about your company and measure the engagement levels of your social posts. You can even automate posting and gain insight into your customers.
- Connect your CRM to other software solutions, such as marketing or accounting software.
- Updated CRM solutions automate much of the data entry and other processes associated with customer management. When a lead comes in, the CRM can forward it to the most appropriate salesperson. Or when an employee contacts a customer, the call or message is automatically logged.
Signs You Need a Better CRM Solution
Even if the shiny new features available are making you salivate, you might not be convinced you need a new CRM solution. You may want to start shopping, though, if any of these four scenarios are true for your company.
#1. Different Departments Use a Different CRM Solution
The silos that result when different departments use different CRM solutions make for a fragmented customer experience. As a result, customers need to fill in the accounting department with what the salesperson promised. Use one CRM solution for all departments to establish a seamless customer relationship.
#2. You’re Not Using Your CRM Throughout the Customer Lifecycle
Your relationship with your customer doesn’t end with the sale. Neither should your CRM. Cultivate repeat sales by using your CRM to nurture relationships throughout the customer lifecycle.
#3. Your Current CRM Does Not Provide Insights
Customer Acquisition Cost, Customer Lifetime Value, and Length of Sales Cycle are just a few of the metrics you should glean from your CRM. Using these metrics, you can know which marketing efforts are netting the best results. By focusing your efforts on customers who are both enthusiastic about your brand and loyal, you can increase your marketing and sales ROI.
#4. Your CRM Does Not Provide a Complete View of Your Customer
When your CRM is integrated with your other software solutions, you can see a complete customer profile in one place. You’ll be able to target your marketing based on a customer’s visits to your website or prior purchase history.
Updating Your CRM Can Be Good for Business
CRM solutions are evolving. AI capabilities not only automate processes, but also optimize them. And CRM solutions now collect and analyze large amounts of data, giving you better insight into your company’s sales generation process. The newest software creates a seamless customer experience across departments and integrates with your other software solutions.
By 2017, these advancements helped the CRM market grow to become the largest in the software industry. The continuing evolution of CRM solutions means updating your CRM may provide benefits that weren’t available when you acquired your current solution. Current software puts your customer relationships where they should be: central to your business operations.
Meta-Description: Choose a CRM solution that delivers company-wide results throughout the customer lifecycle.