Understanding CRM’s ROI
A Customer Relationship Management software (CRM) costs money. It is something that might not be considered a need, but it is undoubtedly a want and sometimes, can be the difference between success and failure. So, although you may have been making calls and recording notes for free beforehand, do not count out a CRM software automatically. There are many variables that come into play after purchasing that can affect the outcome such as employee buy-in, configurations, and thorough, accurate data entry. But, if done properly, the return on investment (ROI) for a CRM solution can be endless. While there are many ways this can happen, let’s look at three of the biggest ones.
1: No leads will fall through the cracks and become dead.
The CRM will allow you to save and store every lead. You can assign a rep, task, or category to any lead so nothing will fall through the cracks and no more leads on index cards, business cards, etc. will fail to be contacted. This will lead to more business, further improving company revenue.
2: Storing orders and tracking them for opportunities is far easier.
Many times, when you get a lead, they are not quite ready to be sold. This is normal and to be expected at times, but the important thing is you can stick with them until they are ready to buy. With automated tasks, the ability to label a prospect under any stage, and assigning a rep to them, the ability to track opportunities is simple compared to other methods. Centralizing all this data for easy visibility is also important for managers checking up on employees.
3: More leads are generated for your company to sell.
Through email marketing and other promotional advertising, the CRM can generate leads for you if you can maximize your data within the solution. Now, you do have to create the campaigns and design templates yourself, but the tool makes it far easier than manually doing these processes. You can track who opened emails, who clicked links and automatically take back data from any forms filled into the CRM itself. These extra leads can pay off for a big ROI.