Sales success is a two-way street, and to make this possible, you need to nurture your relationships with customers and ensure a good shopping experience for them from start to end. This is why having CRM software solutions as part of your operations come in handy.
Generally, CRM systems simplify this difficult endeavor by giving sales representatives a comprehensive view of client records so they can send personalized responses and reply with context. Think about it. Will you answer a person who can’t remember your name, or converse with one who does? CRM tech solves this problem effortlessly and does so much more if you use it correctly.
One way to do so is remaining apprised about the different changes in the customer relationship industry and how you can leverage these to improve your business. To help you out, we have compiled the key CRM trends that you should look out for in 2019. From general facts to CRM charts on implementation challenges, this article should give you all the data you require to understand the ins and outs of CRM and what it all means for you as a business owner.
Converting new leads is important, but customer retention is really where the money is at. The process of customer acquisition costs five times more than simply focusing on your existing customers. Meanwhile, investing in customer loyalty by 5% can actually increase your profits by up to 95%. This is why the CRM market share has enjoyed steady growth over the past years. What’s more is that there are still plenty of sales teams who have yet to utilize this technology.
Do note, however, that while CRM is recognized as one of the best methods to boost revenue, this doesn’t mean that all CRM solutions are created equal. This is why companies often assess a wide variety of factors before purchasing a particular software.
Mobile CRM is by no means a new technology; it started back in 1999 with Sibel Sales Handheld. Companies like PeopleSoft, SAP, and Oracle followed suit by creating their own mobile CRMs, but these did not gain traction due to lack of devices.
Fortunately, we now have a plethora of sophisticated, internet-enabled mobile devices available on the market. With that said, it is much easier to reap the benefits that mobile CRM software solutions have to offer.
The role of social media in business is becoming more and more important, especially because 7 in 10 Americans use social media regularly. According to the Pew Research Center, a large chunk of these consumers log on to Facebook (76%), Instagram (51%), Twitter (42%), and Pinterest (25%) on a daily basis.
This just goes to show that it would be more helpful to implement social CRM platforms if you want to improve your interactions with leads and existing clients.
The main reason developers create CRM and similar programs is to make work easier for business owners and their staff. In fact, when used properly, these software solutions can increase sales and team productivity, among other things. Not only will the right software benefit your business by lowering labor costs and time spent on customer service work; these can also make your company look even better to your prospective and current customers.
CRM solutions can help your business in many ways. However, keep in mind that there are different types of platforms available. For instance, there are some CRM solutions for small businesses while there are also those created specifically for large enterprises. There are also platforms offering industry-specific functionalities like CRM for retail.
If you truly want to maximize CRM for your company, you first need to zero in on what benefits you are expecting to reap so that you may plan on how to use your CRM system to achieve them.
With every means of improving business operations come different benefits and challenges, the latter being inevitable yet surmountable. For starters, not all companies have professionals who understand how to use CRM applications, let alone how to create a mobile CRM strategy. Thus, they either fail to use the platform to its fullest extent or opt not to use it at all.
With the chance for improving your company’s overall performance hanging in the balance, it’s easy to imagine the consequences of using certain CRM. However, these challenges shouldn’t discourage you from taking advantage of this technology. All you have to do is get to know these hindrances and come up with ways to overcome them as you implement your CRM system.
The CRM market has certainly come a long way. Starting out as a means to store customer information, it has become an end-to-end solution that lets you engage clients.
However, this does not mean that it can no longer evolve to keep up with the times. The age of digital transformation is rapidly changing what customers expect from businesses and how these businesses stay at the top of their game.
Nowadays, it is not enough to know for you to simply have the best CRM software solutions. You should also try to discover how you can use them in the context of the prevailing industry trends. This way, it will be easier for you to stay ahead of the competition as you know how you can make the most of it.
So, to sum up, our compilation of CRM statistics, here are some key takeaways that we’d like you to leave with:
Aside from analyzing the CRM facts we’ve compiled and keeping yourself up-to-date on the different industry trends, you can also apply these CRM best practices to further maximize your use of CRM software.
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