Customer Relationship Management (CRM) is one of the most trusted sales and marketing strategies, wherein a collection of organized information structure is used to amass customer data. The information is collected to improve customer experience, create more targeted marketing and improve sales and revenue in a systematic manner. By developing a long-lasting relationship with customers, CRM software ensures an organization’s sales team to effectively increase its sales and revenue.
There are certain ways and strategies which can be used to increase sales and revenue with a Sales CRM software.
- Building Protracted Relationship with Potential Customers
How can we build a long lasting relationship with our customers using CRM? By providing them with the best-in-class services like after sales service, on time supply of the products, and by providing adequate and relevant information about the operation of the product so that the customer can use the product accordingly without any hiccups.
Here’s an example: Your customer is interested in buying a laptop device. Now it is important to build rapport with the customer and provide them with essential information concerning the laptop. This can be its operability, functionality, distinctive features, how they can contact customer support in case of product issues, and by providing the delivery of the product on time. A CRM software does this with absolute efficiency.
- CRM and Sales Software
If any customer is buying products more than the average order, in bulk quantities, then it will automatically increase the sales, thereby causing a surge in revenues. Suggesting selling is an age-old selling methodology, wherein you inquire about their interest on an additional purchase or recommend them with a relevant product to purchase.
Here’s an example: You are selling a mobile phone. Now, you must take advantage of this sale, and ask the customer on whether they would like to purchase headphones or data cables with the mobile phone; a classic example of upselling. With a sales CRM software, you can automate this approach of selling, leading to additional purchases.
A CRM-based sales software keeps a record of the customer’s purchase history and automatically suggests them for an additional purchase, after a period of time.
- Sales Intelligence
Sales Intelligence integrated with CRM is immensely helpful for collecting, integrating and analyzing the customers’ data and to focus on the right customers at the right time and sell more. Cross-selling occurs when your existing customer is interested in buying different and unrelated products. Now you should have the requisite ability to engage the potential customer further and recommend them with different products which they might be interested in buying. Sales intelligence gives you this ability and enhances your overall revenue pool.
- Frame of Reference
CRM is also beneficial for providing a strong customer foundation through references, from which more revenues can be achieved. With a CRM software, your company can ask for different referrals from their existing clients through automated follow-up emails.
You can even provide additional incentives or reward points to those customers whose referrals go on to purchase a product. After tracking and recognizing the patterns of referral sources, your company can use them in future sales and marketing activities.
- Social Media Sales and Marketing
CRM has changed its role over time. The primary aim of a CRM system is to provide maximum benefits to customers and build healthy relationships with them. Nowadays, CRM handles social media marketing, thereby making the task easier for marketers to engage with customers and generate leads.
However, you must not solely focus on sales based promotions. CRM helps market your product on social media in a targeted manner and tactful manner and at the same time increases the level of user engagement. This, in turn, increases your sales and steers you ahead of your competitors.
Customer Relationship Management is vital for your business, irrespective of its size and industry, as it improves their customer relationship, identify prospects, and generates leads. Using a CRM software is the most effective and productive way of building your customer base and boosting your sales number.
The software is an absolute necessity for businesses to manage, organize and segment their interactions with their clients. Nowadays, integrating a CRM software is the first step towards the growth of your company. Hence, it is imperative for your sales and marketing team to realize its potential and adopt the same.