Anyone who has ever struggled with managing and closing sales or managing a team understands the difficulties that there are with tracking leads throughout a funnel in an organization. One of the best ways to manage leads, track sales and store info for your company is with a CRM, but implementing a CRM requires training and management. This additional workload can be significant so business owners need to make sure that there is a positive ROI on all this additional work.
Is all the work around using CRM really worth it? Here are 3 reasons why using a CRM would be a good idea for businesses.
If there is more than one person working in a business then it is going to be important that you have a way for employees to share vital information. Where are leads kept? Writing down contacts or leads on post-it notes and in notebooks doesn’t cut it anymore. Excel documents also are clunky and disorganized as well. Since data is stored in a centralized way it is also standardized in how it is stored. Now you’ll have all the contact info in a single location and it can be shared with everyone.
CRMs have the lead and contact data at all the stages of the funnel, including once they are a customer. Now everyone from sales reps to managers can view and work on the same data. This helps to create ease of access and accurate info that can be used to help grow and scale the business. If employees are expected to handle contact data on their own it is very likely that details will fall through the cracks.
What gets measured gets managed, it is pretty simple. If there is no way to measure how many contacts there is no way to see how the most important parts of your business are working. All the most important KPIs in your business can be measured or measurement can be improved by a CRM.
If contacts aren’t kept in a way that can be seen by managers, or if there is no accountability, only a portion of the leads will be closed. Many times only the easiest most recent leads that come in will actually be worked and closed. There is really no way to know what leads are being closed if there isn’t a consistent way to track them. Instead of hoping that customers and clients are being served, a CRM gives you insight on what is happening.
Most sales cycles aren’t one time contact too close, so knowing how long it takes to close can help to create specific follow up sequences and frequency for sales reps and managers. Once a company is tracking this information they’ll also be able to gain insight into how long it takes to close sales as well.
Once a company is able to manage and measure their leads more effectively they’re able to do things like predict growth, measure their marketing and determine what is working. If no one knows how often clients and leads are being contacted there is no way to improve or create systems. At this point, the only way to grow is by being lucky.
Measuring activity of sales reps and customer service reps lets you track the effectiveness of your marketing and sales teams. Once activities can be measured you can invest more time in what is working and adjust what is not working. Along with measuring the effectiveness of marketing and sales, you create systems that are standard within a business. The data that is put inside is standardized and employees can be added and trained in a way that can be reproduced easily.
Although it can be more work to compile a company’s data inside a CRM, the value of adding a CRM provides massive amounts of value. If you’d like to see how a CRM could help your business, schedule a free demo now.