A company’s existence is significantly dependent on the maximum number of sales as it generates the actual revenue and fills the pockets of everybody right from the executive to the CEO. The workflow in any industry whether product or service, revolves around obtaining a good number of leads, converting them into existing customers, maintaining a strong relationship, and again following the standard pattern to acquire new business. It sounds simple, isn’t it? Clearly, it is not the case and demands a minor level of management.
What is CRM Software and Why your company calls for it?
CRM is an acronym for Customer Relationship Management. CRM software is a centralized and mostly cloud-based technology that empowers users with personalized logins on web and mobile applications just like Facebook, Instagram, and any other social media app. In very simple words, if Facebook, Instagram, and other apps make our social life easier, CRM software and application creates a painless business life for us, especially for the sales process.
A CRM software keeps all the data, information, updates, and entire process in one place. Just like installing tally ERP for accounts is a basic need at a workplace, CRM has now become a necessity. Users work on a single CRM program replacing all the scattered sheets and documents that do nothing compared to CRM but creates a disconnect within the team. A user can log in and work from any device, any place, and can always stay updated.
When your business has a gaugeable count of customers, you can easily keep control over the transactions and updates associated with the clients, and supervising your business is comparatively simple. But, as the company expands, managing a pile of leads, prospects, existing customers, follow-ups, closures, employee-wise contribution in revenue, etc. becomes complex. Thus, your business needs a buddy that is a CRM.
What is a sales process?
A sales process is a structured approach constructed to achieve higher and better sales. This approach generally consists of a set of repeatable steps or a pattern followed by the sales team.
Every industry whether product or service follows this classic sales process, though the workflow might vary. Every salesperson confronts the customer’s reluctance and the hassle of convincing.
Every industry whether product or service follows this classic sales process, though the workflow might vary. Every salesperson confronts the customer’s reluctance and the hassle of convincing.
The life of a sales executive revolves around endless follow-ups and yes they do not have a scope of missing on any lead. This huge pyramid of barriers always stands in the way of closing sales deals and a typical sales cycle can go up to 3 months or even more. This entire cobweb isn’t child play and needs a program to keep the sales process well organized from tip to toe. The only answer to all the sales wrestling is good CRM software.
What can stop your sales growth?
Ever heard of the saying, “Growth and comfort do not coexist.” by Ginni Rometty.
Apparently, it’s true. The bitter part is not the quote but the fact that everybody knows it but no one implements it. As an entrepreneur, we tend to fix the beauty and exterior of our business by recruiting good talent, training them, appreciating good performers and organizing PIP (Performance Improvement Programs) for the one’s who aren’t able to do well but we often forget to fix the continuous internal issues which will stay if not encountered.
Processes are meant to be followed and thus they should be flawless. It doesn’t make sense if half of the resources are perfectly walking towards the unified vision and half are visionless. The first-ever mistake committed by many is still not identifying the need for a system as they find the exterior of business well maintained and attractive.
How exactly a CRM software can optimize your sales process?
CRM software will work as the foundation for every activity in your workflow, will record the same, and keep you updated with every task. Your sales process is like a master plan and your team will stick to the plan to transform each lead into a closed deal. CRM will join all the dots and will assure you that your sales process is being followed.
- The CRM software documents each activity: Yes the sheets are a wonderful tool for maintaining data but not in this case. Every tool has its own right place. Sheets are capable enough to store the fed data but helpless when it comes to documenting everything in a single place. CRM software will document all the stages of the sales process and will keep the sales funnel up to date without missing anything.
- CRM will eliminate repeat entries and manual work processes: Life without a CRM is all about entering data into excel sheets and maintaining the leads manually. CRM will simplify the work and your sales team will allocate all their time to getting new business. Also, an efficient CRM will now allow duplicate entries thus saving your team’s time.
- You will make decisions based on accurate data rather than assumptions: You will be surprised to know that as per the MarketWatch study, approx. 88% of the spreadsheets contain errors. If you use such data to base your business decisions, no wonder your calculations have higher chances of failure. (as per cyber click).
CRM software gives you faultless data and you will no longer make decisions based on verbal influence and assumptions. Rather, you will be able to forecast your upcoming business by looking at your sales funnel. - You can keep track of goals: Monitoring KPIs and keeping track of individual goals is very important for the overall achievement. Objectives must be well defined and goals must be set as per the individual capability. Business is not a race where only one winner lies. It’s a process, the independent goals must be achieved making everyone a winner.
- CRM will bring necessary transparency: CRM will give user-based access to your employees and they will be able to view relevant information without wasting time. The visibility and reach to the information will be increased chopping off all the additional steps and manual struggle.
Centralized HUB for everything: Sales has enormous internal transactions. CRM software will keep everything under one roof whether leads, number of follow-ups done, customer details, communication history, number of meetings done, and what not! It will make your life more than easier.
