7 ways a crm will boost your company’s success · enhancing customer retention. a crm system will...
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Set yourself apart from the pack.
7 WAYS A CRM WILL BOOST YOUR COMPANY’S SUCCESS
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Set yourself apart from the pack.
The broader business community wants you to manage your customers poorly. Why?
Customer management has quickly become one of the top ways businesses set themselves
apart. Companies that get ahead of the pack have adopted modern CRM, or customer-
relationship management, platforms. Once used exclusively by larger companies to better reach
customers, CRM platforms are now the competitive difference for every business, regardless of
industry.
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What is a CRM Platform?A CRM platform increases visibility and helps you remember those important details about your
customers. All your key customer data is stored in one place that multiple internal teams can
view and manage. Sales, Marketing, and Customer Care are three core teams that can benefit
from this powerful tool’s extensive capabilities. What’s more, CRM’s can easily be integrated
with the rest of your business. With the right integrations, you can bring over key inventory and
warehouse information from your Enterprise Resource Planning (ERP) system.
CRM systems simplify the hard parts of customer management. Tracking sales efforts,
automating data entry, tracking customer responses, and communicating across teams all
become second nature. The distance from your customers shrinks, causing an increase in sales
and, thus, company growth. Here are some direct benefits your business can derive from
implementing a new CRM software:
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1. Free Up Your Sales Team’s Time
Companies can easily boost sales and profits with a little help from their
friends…in this case, a CRM that takes care of routine tasks. Today’s CRM’s
offer a 360-degree view of your customers, allowing you to automate your
customer-centric operation. Top performing salespeople have verified that
their companies’ CRM technology is the key factor behind their success.1
CRM solutions greatly boost your efficiency for both operations and
customer engagement. Gone are the days that you’re frantically chasing
down crucial information. You no longer have to worry about interpreting, updating or
synchronizing spreadsheets. CRMs ensure that valuable customer information or notes are not lost
or thrown away. It reduces the dangers of inconsistent employee-customer interactions.
Success is enhanced by cutting edge AI technology with integrations like Salesforce’s Einstein.
According to estimates, AI-Powered CRM will contribute a whopping $394 billion in revenue. 2 Over
28% of organizations worldwide have already adopted this technological upgrade. 3 AI makes
predictive suggestions and eliminates any unavoidable blind spots, giving you a clear path to
customer satisfaction.
1 6 ways CRM helps you grow your business; Salesforce2 Increased revenue from artificial intelligence adoption in customer relationship management (CRM) activities in the United States, from 2017 to 2021 (in billion U.S. dollars); Statista3 A Trillion-Dollar Boost: The Economic Impact of AI on Customer Relationship Management; IDC
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“Time is money.” Easy to access data from reports, dashboards, and AI, improve efficiency,
decrease time, and lower overall cost of sales. CRM systems help you understand where to put
your efforts, so you don’t waste resources on a customer or potential customer who may not
want what you’re selling. For instance, there is 60 to 70% likelihood that an existing customer will
do business with you. Compare that to the 5 to 20% likelihood of a new client.4 Through sales
forecasting in CRM’s, your sales team now has the ability to understand potential
deals/opportunities, so they can understand what to go after.
CRM’s give your sales team a new set of eyes, providing an in-depth understanding of your
customer's journey from lead generation to loyalty. Your CRM system will provide insights on the
right ways to get more referrals and ultimately new customers. In doing so, you’ll avoid wasting
time and money cold-calling or chasing dead-end leads.
2. Reduce the Cost of Sales
4 Customer Retention Statistics – The Ultimate Collection for Small Business; Small Business Trends
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3. Give Clients Unique Attention
With technology advancements, hyper individualization has become more evident and even
expected in recent years. According to Salesforce, 46% of sales leaders say that individualized
relationships are vital to sustaining success. Without a CRM system, it is challenging to gain in-
depth insights into your business’ relationship with each customer.
No matter the size of your business, a strong relationship is essential to fostering trust and
enhancing customer retention. A CRM system will help you get there. With a CRM system, your
company can finally put a finger on each customer’s goals, preferences, and inevitable
challenges. More profound insights into the needs of each customer, will allow you to make
recommendations of products relevant to customer interests at the right time. Successfully
following up becomes a natural process.
An excellent CRM system will also provide information on the here and now, namely how
customers are currently using your products and services. This is a piece of powerful
information that can be used to scale your 1-to-1 relationships and provide the best-
personalized engagement platforms. Your business becomes customizable to each customer,
fostering trust and loyalty.
46% of sales leaders say that individualized relationships are vital to sustaining success.
- Salesforce
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4. Prevent Data Security Breaches
CRM platforms keep customer data in a centralized system rather than countless disconnected
desktops. They allow companies to keep close tabs on their data flow through a single channel to
more easily detect data breaches. CRM platform providers, such as Salesforce and Microsoft,
increase this security by hosting data on the cloud, instead of you needing to create an on-premise
security system.
With an excellent CRM system, it also becomes easier to implement multiple layers of security
routines and tighter contractual obligations. For instance, a cloud-hosted CRM provides better
ways to place additional layers of login protocols and passwords as well as minimize access to
server hardware. Therefore, CRM provides an avenue to store and manage data from all
departments in your company in one single secure ecosystem.
Data security is a critical topic in 2019. A recent data breach revealed over 2 billion unencrypted
records of marketing data were leaked.5 Companies must enhance the features and operation
processes of their CRM software to protect the information of their clients. Without doing this, your
business risks enormous data breaches which can destroy the trust of clients and harm your
business. As technology evolves, hackers evolve as well. As hackers evolve, companies need to
evolve too.
5 2 Billion Unencrypted Records Leaked in Marketing Data Breach --What to Do Next; Forbes
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5. Keep Customers Longer
Decreasing your customer defection rate by 5% increases profits up to 95%.6 Without a CRM
system, it is a challenge to understand your ideal customer and to create effective strategies.
This can lead to a feeling of disconnect and the eventual loss of customers. As mentioned earlier,
CRM systems position you in a place of power and give you the ability to understand customer
relationships on an individual level. Your sales team is given the ability to act proactively,
addressing challenges your customers may not have been aware of.
Customer service goes beyond looking internally. It is dictated by your competitors, and how
they are managing their customers. A CRM system helps you stay ahead of your competition,
helping you understand what your customer’s next move is and how your relationships with
investors are. Properly managing your customers gives you a leg up. A CRM system puts crucial
information directly in front of you, so you don’t miss a beat.
6 The Value of Keeping the Right Customers; Harvard Business Review
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6. Work Better On-The-Go
Gone are the days of being tied to a desktop or laptop. Mobile CRM’s finally allow you to take
advantage of full CRM capabilities from all kinds of devices. With this extreme mobility and
convenience, your sales team can keep track of consumer information in real time. Your
managerial team will have access to incoming information like completed field checks, client
meetings, and even back-office processes. Increased mobile CRM usage can improve efficiency by
about 15% 7 and can boost customer experience in the process.
Think back to the last e-mail response you got. How quickly did you get a response? It feels good
to get a quick response, and it tends to add a pleasant element of surprise. You want your
customers to feel the same satisfaction. Mobile CRM’s can end delays and speed up
communication between your company and your clients. By increasing accessibility to all kinds of
information regardless of your location, CRM’s streamline the communication process and make it
easier ways to find valuable information in notes, conversations, emails, and sales history. With an
excellent mobile CRM system, your sales team will always have the information they need at their
fingertips, so they can quickly complete key tasks not minding location.
7 36+ Impressive Sales Statistics You Need to Know in 2019; G2 Learning Hub
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5. Find Better Leads
Your company may fail to convert 79% of marketing leads to sales if you are lacking a CRM
software.1 This is a shocking statistic, especially when your organization does not have a CRM
system or is operating on an outdated platform.
A CRM system gives your sales team the right information, making it easier to target the right
prospects that will generate revenue. Without a CRM system, more time will be spent trying to
figure out where you can find the right clients. In addition, it becomes difficult to track and adjust
for market trends. Time and efficiency are vital factors that can be used to draw power gains to
your business.
This technology, additionally, keeps your managerial team in the loop with accurate insights. This
will further impact and refine your lead strategies. CRM’s can help your administrative team
understand weakened areas so that the right resources and effort can spend strengthening those
areas to bring about overall improvements in your business operations.
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Final ThoughtsBusinesses of all shapes and sizes must ensure that their operations are streamlined and
customer-centric. Too often a clear view of the customer slips out of reach and a potential win
turns quickly into failure. Even when you are selling the best product, without equally excellent
customer service, it becomes harder to acquire or retain customers. All businesses require a
modern CRM system to ensure accuracy and efficiency in customer management. CRM
systems have robust functionalities that alleviate your employees from menial tasks, increase
data security, pinpoint leads that are more likely to convert, and provide greater visibility of
your customer’s habits. As some say, a CRM is like a conductor who directs different kinds of
instrument towards the creation of a solid music piece in just one fluid motion.8 Business
consists of many moving parts that are easy to lose track of. With a CRM system, your company
runs more smoothly with less effort on the part of you and your employees. Like a CRM system,
FMT Consultants would like to be here to guide you through the process of selecting what’s
right for your company. CRM’s are incredible pieces of technology but not all are the same. Give
us a call at (833) 827-4271 to discuss your unique situation. A helpful hand is waiting for you.
We've hired and worked with lots of vendors and partners over the years and have never been happier than working with FMTConsultants.
- Nick RichtsmeierChief Operation Officer at Trilogy Financial
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When we think of our customers, our goal is to optimize the core of the organization. There is no single “right
way” and no single technology that works for every business. FMT aims to stay away from practice-specific
communication and aim to offer the right combination of products, services, project delivery, and ongoing
customer care. It is our sincere desire to create success and a competitive advantage for your company.
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