3 Quantifiable Benefits of CRM Software

Customer relationship management (CRM) returns $5.60 for every dollar invested if you know how to use it effectively. With good CRM software you can help your business improve its reputation for customer service while increasing profits. Whether you’re a small business, a large company, or something in-between, there are several ways you can benefit from CRM software. Even if you’ve already invested in CRM software, you may not be using it to its full potential. We can help you improve your understanding of how to fully benefit from all of the advantages your CRM provides.

  • Convert Leads to Customers

Many companies waste precious time following up with a lead. The longer it takes to follow up the more likely you are to lose a potential customer. 71% of leads become wasted opportunities because it takes companies over 40 hours to contact them. You can calculate what you’re already spending on leads to help you find out whether your current lead follow-up strategy is effective. For example, if your cost per inquiry is about $100 and you generate 1,000 inquires on average, you could be losing upwards of $70,000 by not responding to leads fast enough. With CRM software your organization can start acting on those leads within minutes. A proper CRM system will alert your sales team and effectively shorten the time in between lead generation and follow through.

  • Increase Productivity and Sales

With automated data management your employees will spend less time on administrative tasks and more time following leads, resolving customer issues, and developing strategies for improvement. Employees won’t have to waste time searching for customer information in various documents or file cabinets. Everything they need will be at their fingertips in one secure place.

You can also use CRM systems while you’re on the go. In an increasingly mobile world, being able to access customer data and respond to leads and concerns wherever your employees are gives your company a major advantage. For example, researchers at Innoppl Technologies, an app development company, show that 65% of sales reps working at companies with mobile CRM reached their sales quotas compared to 22% of sales reps at non-mobile CRM enabled businesses.

  • Improve Customer Retention

It costs up to seven times more to acquire a new customer than it does to retain an existing one. CRM software will help you retain existing customers and save money. It allows you to analyze your customer’s preferences and buying histories so you can form an action plan for customer retention. Access to this information will also help you anticipate your customer’s future needs. Understanding all of the customer data a CRM provides will help your employees manage their relationships with customers. They will be able to respond to their customer’s needs quickly and accurately with data provided by a CRM at their disposal.

Just having CRM isn’t enough though. While you may have invested in a CRM, are you taking advantage of all it has to offer? You need to understand how to use it effectively in order for it to be a successful addition to your sales, marketing, and customer support teams. eimagine can fill in the experience and knowledge gaps for you and your employees so you can better understand CRM software and how to use it well. After working with Microsoft Dynamics CRM since 2005, eimagine has worked with numerous clients to implement and provide support for CRM software.

Feel free to contact us to learn more about our partnership with Microsoft and our expertise when it comes to CRM Dynamics.

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