The business is all about relationships. But many people need to keep track of countless conversations to work with. And all these interactions can be in different stages of the sales pipeline. It is a challenge that confronts many businesses and this is why more and more companies are turning toward customer relationship management (CRM).
CRM can be one of your most valuable assets in your organization.
In fact, a study of Forbes and Brainshark last year found that 55% of top performing companies are now investing in sales-efficiency techniques like CRM software.
Increasing investment in the CRM is a direct reflection of the ability to run sales and return on investment. Even so, the software will be as effective on revenue as the user makes it.
To help show you that for valuable CRM sales teams, we will adopt five ways to close more deals with CRM software.
Let's get started.
1. Spend less time entering data
Perhaps the biggest capability of the CRM software - from the perspective of those who want to spend more time working with prospective customers and want to work in less time - it is suitable for automated data entry.
Rather than reporting each lead captured in a trade show or through a webinar signup, CRM software can automatically record that data with built-in web forms and inventory importing tools. It gives your sales team more time to work directly with customers and prepare them for sale. It also improves your ability to follow up quickly with the lead.
2. Reduce Your Time
Timing can often distinguish between closing a deal and losing a deal. Knowing when a potential buyer is in relation to final sales, how and when you should influence them. Some possibilities will be interested in gathering information and comparing options, while others are ready to receive a price quote and exit from a contract. This is a delicate balance.
The CRM software can take your range very anxious or waiting for a long time so that one lead develops. By portraying a sales pipeline and showing a potential customer on it, your team will know whether it is time to engage or not. With most platforms, you can create custom steps based on the level of merit like inquiry, lead, marketing qualified lead (MQL), salesable leads (SQL) and opportunities.
3. Use analytics to improve your strategy
CRM software is not used to store customer information only. It is also an advanced reporting tool that can be used by the sales team to track sales performance and adjust their strategy if necessary. Most Custom CRM software come with a variety of built-in reports, which may include:
- Profitability and revenue
- Financial forecast
- Sales cycle report
- Victory/loss report
- Goal progression
Keeping an eye on these metrics, you can separate the vulnerabilities and barriers to your sales process.
For example, your incoming MQL volume is high, but your conversion rate in SQL is low. It may be time to interact between sales and marketing about main nutrition strategies.
And marketers can use these analytical tools to track their responsible revenue and see which marketing campaigns generate the most new customers.
4. Know the needs of your buyers
Intuition can only take one vendor till now. The CRM software can not only show you when a customer is ready to buy, but also the best way to engage them. This is especially true when your CRM is integrated with a marketing automation platform: Matrix collected during pre-sale steps allows your representative to deploy more of their skills strategically to close a deal. can help.
This data can give information about where one prospect is in the sales pipeline, which channels they have come from, what content they have read or downloaded, and which techniques (such as science-based sales) did not succeed in the past Are or not?
5. Build better relationships with customers
CRM software is a highly effective tool to improve the relationship between your company and its customers. Although the world of business has become increasingly digital, people will always be willing to buy from the company they know, and who knows them.
According to the American Express report, "Three out of four consumers say they have spent more with the company due to the history of positive customer service experience," while more than half of the consumers "run a business transaction or Intended to make a purchase, but did not make a decision because of poor service experience.
Obviously, understanding of modern buyers and their needs is important for B2B sales.
This is just as true for new buyers as they do during cross-sell and upsell attempts for existing customers.
As a customer database, your CRM can catch the information that will prove invaluable in understanding buyers - digital body language, communication logs, purchase history, company data, and source interaction.
It can be used by sales staff to develop better understanding of all customers, improve customer experience and stop more deals.
The traditional method of closing a deal is always shaking hands, but as your business grows, you need tools that help you in the development of outreach and sales.
Understanding your customers, knowing that when a prospect is ready to stop, giving enough data to sales teams to make intelligent decisions is the key to effective sales. The right CRM platform will support these three.