When you hear “Customer Relationship Management” (CRM), are you reminded of a digital address book or sales management tool? But what if I told you that CRMs go beyond that and can transform your entire business? Considering it as a mere synonym of sales software isn’t the right approach because CRM services have evolved beyond the sales funnel with a much broader skill set.
Having said that, research indicates that just 43% of CRM users utilize less than half of the features available on their CRM platform. Just imagine the untapped potential of sitting right there, waiting to be unleashed.
Let’s learn about the lesser-known ways CRMs can bolster the varied aspects of business beyond sales. And, how it can be a strategic asset for businesses.
Let’s start with Marketing. Did you know that CRMs can be a game-changer for the marketing team? According to PwC, 73% of customers are of the opinion that experience is a critical factor in their purchasing decisions, behind price and product quality. The ability to track the performance of your marketing campaigns in real-time is non-negotiable.
CRMs offer insights critical information such as which emails are being opened, which ads are getting clicks, how many leads are converting into customers, etc. CRMs end the guesswork as it’s data-driven strategy at its finest. Forbes states that businesses paying attention to how customers behave clock higher sales by 85% and grow profits by more than 25%.
Ever called a company and felt like they knew what you needed before you even asked? That’s the power of a premier CRM platform. New age CRMs such as Salesforce allow integration with contact center platforms, providing the support agents a 360-degree view of customer interactions. This also means they can quickly pull up your complete history with the company, from start (purchase records) to finish (previous support tickets).
A study by Aberdeen Group found that organizations using CRM platforms to stay in touch with their customers register a 27% jump in retention rates. Satisfied customers are loyal customers, and CRMs make it possible and easier to maintain that way by solving the issues quickly and effectively.
CRMs aren’t just for streamlining external relationships—they’re great for improving the internal team performance too. According to a study, 86% of employees are of the opinion that communication issues and absence of teamwork, resulting in workplace failures. CRM helps to track the key performance indicators (KPIs), gauge the task progress, while keeping everyone aligned with the organizational targets.
For example, Salesforce CRM enables users to send automated reminders for deadlines and even track team activities in real-time. This transparency ensures that everyone is well aware of their responsibilities and can collaborate seamlessly, driving the overall productivity. Nucleus Research report found that businesses witness an average 14.6% increase in sales rep productivity by using CRM tools.
Wondering how the CRMs help manage and streamline the delivery processes? By integrating the delivery data with customer records, users get real-time updates on shipment statuses, significantly enhancing the operational efficiency. This is one of the factors driving logistics companies to quickly adopt the CRM trend on a global scale.
Wondering how do CRMs shine in the product development space? Collecting and analyzing the customer feedback becomes easy, offering product managers the insights they need to make informed decisions. Additionally, CRMs are capable of compiling the feedback from the support tickets, surveys, and direct customer interactions, spotlighting what features clients prefer and what needs improvement.
Given that report indicates a 5% increase in customer retention rates can boost profits by 25-95%, and businesses face annual losses exceeding $75 billion due to losing existing clients, it is imperative for organizations to utilize CRM insights to align product features with customer needs. This approach works as it will improve product quality, accelerate time to market, and ensure customer satisfaction and loyalty.
Consider recruitment as a marketing funnel, where the candidates are your leads. With a CRM solution, businesses can track the applications, manage their data, streamline the hiring process, and beyond. Plus, automating the regular tasks such as sending the follow up emails or scheduling interviews help to save time and reduce errors.
No wonder a LinkedIn poll found that 77% of talent professionals depend on data-driven hiring to plan their workforce.
Your CRM is packed with data waiting to be analyzed. By reviewing the sales patterns, customer behaviors, and market trends, businesses can make informed decisions that guarantee growth. For example, Salesforce CRM analytics showcase which products are most popular among certain demographics, enabling businesses to tailor their offerings accordingly. This drives more precise targeting, improved product development, and a stronger bottom line.
Looking to reduce repetitive tasks, then CRM is your best bet. It is capable of automating different processes starting from sending the welcome emails to new customers to updating contact records based on recent interactions. This offers your team more bandwidth to focus on more important activities and innovate and engage with customers on a deeper level. Study proves that 90% of professionals feel automation solutions elevated their productivity.
Customer feedback is a goldmine of data, and your CRM can enable you to collect, analyze, and work on it accordingly. By storing all customer interactions, support tickets, and survey responses in one place, your CRM offers a comprehensive view of customer sentiment, enabling you to find the recurring issues and address them. This makes sense considering businesses witness 15% churn rise with poor lead response time.
By keeping a close watch on what the customers are saying, it becomes easier to improve the offerings, foster greater loyalty, and satisfaction.
Read our blog to understand the key benefits of selecting a top-tier & branded CRM like Salesforce instead of an in-house system.
Which CRM?
Salesforce CRM because it is the world’s no #1 CRM platform, renowned for its robust capabilities, scalability, and versatility. Businesses that leverage this tool prefer its comprehensive suite of tools that cater to every aspect of customer relationship management, from sales and marketing to customer service and beyond. Moreover, its cloud-based architecture ensures accessibility and collaboration across teams regardless of their location, while analytics and AI-driven insights provide actionable intelligence to drive business decisions. Its ability to integrate seamlessly with other business systems and flexibility to customize according to specific business needs make it the preferred choice for companies keen to harness the full power of CRM.
At Forsys, we leverage Salesforce’s advanced features to deliver tailored solutions that ensure businesses fully capitalize on the platform’s potential. As a certified Salesforce implementation partner and top Salesforce partner, Forsys offers end-to-end expertise in customizing and integrating solutions to fulfill the specific business requirements across industries.
To learn how Forsys is empowering businesses with its custom CRM solutions and services, explore our Salesforce CRM case studies.
Closing Remarks
In the business world, completely using your CRM’s capabilities can set you apart from the competition. Ditch the limited potential of CRM and embrace its full potential to build exceptional customer experiences – from the first interaction to achieving long lasting loyalty.
Talk to our in-house certified Salesforce consultants to learn about our CRM services and solutions in detail. Your business, and your bottom line, will thank you.