5 Ways Investing in the CRM Experience Can Grow Your Business
Customer-first experiences continue to define how brands manage relationships with prospects and active customers. As the digital revolution determines how businesses and customers interact, brands can no longer rely on quality products or low prices alone. Today, it’s all about how you delight, educate, and connect with your audience through a CRM experience.
Investing in the CRM experience is the fastest-growing marketing and sales technology for companies in most industries. In fact, 91% of businesses with ten or more employees currently empower their workforce with a CRM platform. In this post, you’ll learn what a CRM is and how you can take advantage of one to scale your business.
Ready to learn more about the CRM experience? Let’s dive in.
- A CRM experience allows you to manage customer and lead relationships
- CRM technology aligns sales and marketing communications to deliver better results
- Combining automation and data allows you to empower teams with valuable insights
- You can increase conversions and retention rates with more relevant touchpoints
What is a CRM Experience?
Customer relationship manager (CRM) is a software platform used to manage a brand’s communication and relationships with potential and existing customers. A CRM experience allows your business to improve connections, streamline internal processes, and boost overall profitability.
By 2024, analysts predict the CRM market will expand to $43.5 billion US dollars. CRM refers to a system or tool that includes sales management, contact management, and rep productivity. It focuses on the entire customer lifecycle from your sales, marketing, customer service, tech, and even human resource teams to ensure the contact has a seamless experience through your sales funnel.
Provide a seamless customer experience with a CRM by:
- Contacting accounts regularly
- Listening to your audience’s needs and meeting them
- Creating more personalized relationships
- Providing attentive customer service
- Responding quickly to requests
5 Ways Investing in the CRM Experience Boosts Business Growth
When customers trust your brand, they are 93% likely to recommend you to a friend and 88% more likely to spend money. Managing your customer relationships through a CRM platform allows you to analyze and optimize each interaction to increase the likelihood of a conversion.
Here are a few substantial ways a CRM can help you scale your tech business:
Align Cross-Functional Teams
Looking for a better way to understand the funnel better and streamline your processes? You need sales and marketing alignment first. With a CRM, you can share critical data between teams to ensure everyone understands how best to interact with your customers, leading to more personalized and relevant responses.
For example, your lead fills out a form and automatically enters a lead nurture email journey. From there, every time the account opens or clicks an email, the sales rep receives an alert. As the lead continues to score higher, your team can continue to reach out with relevant and timely messages. Your lead not only builds a deeper relationship with your brand, but is also more likely to convert quickly due to fast response times.
Automate Manual and Daily Tasks
Did you know that 27% of salespeople spend over an hour each day on data entry work? CRMs automate day-to-day tasks to ensure contact records instantly update after each interaction.
Instead of your team doing their own outreach or adding human error to your data records, the CRM will automatically update accounts with:
- Sales workflows like quotes, deals, and contacts
- Rep and lead assignments
- Campaign analytics and reports
- Lead scoring and prioritization
Share Data and Insights
While data is necessary if you plan to scale, it first needs to be organized, analyzed, and distributed to the right stakeholders. If you’re looking to take a data-first approach, you can provide valuable insights and KPI reports with a CRM platform in one centralized location. With better data at your fingertips, you can see a clear picture of the customer’s needs and any organizational gaps.
You can customize your CRM with dashboards or reports depending on your campaigns and goals. For example, your marketing team may want a dashboard that details the click-through rate of every campaign and where those contacts are in the funnel.
However, a sales director will want to know how many calls reps make each day and if those actions resulted in a demo or conversion. Be sure to highlight specific metrics to analyze customer behavior!
Simplify Customer Experiences
The buyer journey is no longer simply making a call and waiting for the conversion to happen. While your audience is browsing your website, social channels, emails, and more, your team must deliver the proper responses at the right time.
But, how can you be everywhere at once? A CRM platform can automate your touchpoints through various channels to ensure your company continues to interact with every lead and customer. For example, you can automatically:
- Track and prioritize call logs
- Provide FAQs through a chatbot
- Send follow-up emails after-sales action
- Manage social media mentions and questions
- Send personalized videos
- Deliver personalized landing pages
Increase Customer Conversions and Retention Rates
Your CRM platform can help you categorize and identify leads quickly, allowing your team to prioritize the right contacts, nurture them with campaigns, and close deals faster. By having more visibility into your audience’s actions, you’re more likely to increase their lifetime value (LTV) and grow long-lasting, profitable relationships.
Check out these ways a CRM can improve your LTV and conversion rates through timely touchpoints:
- Improve the onboarding process – typically, 23% of customers churn at this stage!
- Provide high-value content based on the customer’s actions and needs
- Provide quick and relevant customer service 24/7
- Collect and store customer feedback like NPS surveys
- Offer a more personalized experience
Scale Your Business with a CRM Experience
If you’re ready to speed up your flywheel and build deeper relationships with customers, a CRM is a necessary tool to create client-focused experiences. When you empower your teams with the right insights and customized marketing campaigns, a CRM’s automation can ensure communications get delivered to the right customers at the right time to increase conversion rates.
Ready to drive more business growth? Get started with Televerde today.