How can your business use CRM to increase revenue and minimize costs throughout your organization? Investing in the right solution isn’t just a way to help your sales team – when used effectively, today’s integrated CRM software can create a ripple effect throughout your business to boost your profits in many ways.
A well-designed CRM solution is a major asset to not just your sales team, but the bottom line of your entire business. Here are 5 specific ways you can use CRM software to boost profits for your company:
1. Connect marketing with sales, finance, and production
Integration is a total game-changer! When you integrate your CRM system with the rest of your business management applications, you’ll see major benefits for every department.
For example, you’ll be able to easily transfer and view customer-related data between marketing, sales, finance, and production. You can automate the ordering process, connect purchasing with inventory, find out what parts of your business are most profitable, and much more.
You’ll boost profits by improving customer service, gaining more financial insight into sales, optimizing production, and reducing internal manual processes.
2. Gain visibility into real-time customer insights and trends
Business intelligence is more than just a buzz phrase, it’s a key part of your success. Business analytics tools such as mobile-friendly dashboards, easy reporting, and real-time monitoring of marketing and sales goals can provide a whole new level of insight into your customers.
Is your most recent marketing campaign actually working? Are customer preferences and needs shifting due to external market forces? Which of your offerings are performing best? With the right CRM solution, you can view precise answers to these questions, in real time.
Armed with this knowledge, you can allocate your resources better, boost your sales, and reduce costs, all of which will help your bottom line.
3. Use built-in engagement tools to connect with prospects
Social selling is a growing component of successful marketing and sales strategies. Connecting with prospects on social channels allows your team to build rapport and trust with leads, identify influencers and decision-makers, and easily share information customers need to make their buying decisions.
With the right CRM solution, you can use built-in relationship and engagement tools to boost your sales and increase profits.
4. Accelerate the sales lifecycle
Are your sales people meeting their targets? Are your customers moving seamlessly through your sales funnel? What information or nudges do prospects need to move forward with you?
The dashboards built into a modern CRM solution like Dynamics 365 for Sales make it so much easier to see what’s going on and what is working well, as well as creating strategies for improvement. You’ll be able to know how long prospects stay in the funnel, and identify when prospects have stalled out or left in the middle of their buying journey.
5. Predict buying behaviors
Sophisticated CRM technology goes beyond bar charts and dashboards. A top-of-the-line application can use machine learning and artificial intelligence to analyze your sales, monitor performance, and help predict how buying behaviors might change over time.
Use these advanced analytics to focus your efforts on prospects who are most likely to buy, keep resources flowing in the right direction, ensure accurate inventory, fulfill orders faster, and notice negative trends before they impact your business.
Interested in CRM for your business?
If you are ready to increase your revenue and become more effective in your sales efforts, contact us to learn more about our QuickStart for Dynamics 365 for Customer Engagement (CRM) to get started in 30 days or less.