Why Investing In A CRM Is a Great Help for Your Company’s ROI
The process of acquiring customers in a modern company begins with digital marketing. Then you must use all the potential and sales tools to try to “close” the prospect and turn it into a customer.
This means that all the effort and investment you make in marketing does not really matter if the sale does not materialize in the end. That is if it does not translate into positive benefits that allow you to have an adequate Return on Investment (ROI) which depends on antivirus software.
Why is ROI important?
ROI is one of the metrics most used by marketing teams. Calculate how much money has been invested is the best indicator to know if you’re marketing actions are working or not.
For advertisers, this is the most important measure, since it shows the real effect of an advertising strategy in the business. With this information, it is easier to decide better on how to invest the budget in future campaigns. ROI data also helps us improve the performance of less successful campaigns.
CRM tools expand our ability to see errors in processes and correct them. Especially if your company faces the following scenarios:
- Inability to measure the value of the client and customize the product or service.
- Lack of information or insights about the consumer.
- Problems to balance an improvement in the customer experience and control the costs of your product or service.
- Need to improve customer acquisition and loyalty rates.
With the use of a customer relationship management software (CRM) it is much easier to streamline marketing processes. You will have all the necessary information to track the sale, specifying more prospects and increasing the ROI.
Here you will find in detail how CRM systems are related to the most important indicators for your business.
Using an analytical or executive CRM system, you can make informed decisions, based on the analysis of your customers’ information. Also, by having access to your shopping habits you can detail their behaviour and preferences through an organized and understandable database created by the system.
- This type of CRM is focused on:
- Identify the most valuable accounts of your company.
- Increase the volume of new sales opportunities.
- Reduce costs
- Measure customer satisfaction in detail.
The task of these systems is based on providing you with all the necessary information, as detailed as possible in order to get the most out of it. This will lead you to make the most relevant decisions for your company and apply the necessary improvements in your commercial strategies.
Interaction with business applications
For this purpose, operational CRMs are ideal because they can be integrated with the rest of the applications that work in your company. Especially with Enterprise Resource Planning Systems (ERP) . In this way, it is much easier to manage the operations related to the three pillars that will allow you to achieve a positive ROI; marketing, sales and customer service.
With this type of systems you will have the following facilities:
- Identify why customers are being lost.
- Ensure compliance with service levels.
A CRM tool allows you to have a database that centralizes all the information of the processes and clients of your company. This leads to replacing manual workflows that consume a lot of time and effort.
In this way, your work teams can focus on more important aspects. For example, in analyzing this data set to improve customer service and track its behaviour.
Personalization of the service
Through an of CRM, the segmentation process is much easier. You can have a greater organization not only of the demographic data of your clients and prospects but also their interests, preferences and purchasing habits.
This offers you an infinite number of possibilities when making a sale. From the commercial prospecting process, you can send a personalized message at the right time. In the current era of digital marketing, this quality is very valuable, since customers are looking to be treated in a special way.
Through CRM, you can make your prospects and clients feel special with proposals that match their preferences. This will make your ads or approaches less disruptive to an audience that is showing an aversion to ordinary advertising.
Also, you can adjust the frequency of contact or business visit based on the profile of the client. The benefits of CRM in this area are based on the fact of optimizing the exploitation of the database through efficient and personalized segmentations.
In this way, your chances of “closing” a sale increase and, therefore, improve the ROI. Best of all, it will allow you to apply the necessary improvements to reduce the rate of abandonment of the purchase to a minimum.
Clearly visualize the sales pipeline or funnel
The sales funnel is nothing more than the path that exists between the customer’s first contact with the brand and the closing of a sale, including after-sales. It usually consists of the following stages:
- Lead: Refers to the initial contact of the client with the brand, either spontaneous or motivated by marketing campaigns.
- Commercial prospection: Is the process in which the company studies the needs and preferences of the client to find the best way to serve it.
- Proposal: The company offers a service or product and sets the sale price.
- Negotiation: Client and company adjust the proposal to a suitable value for both parties.
- Closing: The sale is completed.
- Aftersales: It is based on the continuity of the relationship with the customer so that the customer loyalty to the company and buy again.
A CRM system allows you to clearly identify each stage of your sales cycle. Handle it correctly is about monitoring the behaviour of the client in each of them. Identify what causes a customer to abandon the purchase at a certain stage, and reinforce the practices that make him or her loyal to your brand.
In this way, your commercial team will recognize from this diagram, on what aspects they should concentrate their efforts to increase the possibilities of conversion. If some business is not completed, they will also have very good information to analyze what did not work.
Union and channel management
The CRM systems of the client or collaborative, unify and manage the different channels of the relationship of the company with its customers and prospects. It’s not just about tracking the customer’s data. Taking advantage of a CRM to improve the ROI of your company also means managing effectively all the channels through which you communicate with your customers and prospects:
- Social networks.
- Personal meetings
- Email marketing
- Phone calls.
These are just some of the channels that you can manage with your CRM in order to interact effectively with your client. You can solve the incidents, claims or concerns of your client in a timely manner. In this way, you take care of your brand’s reputation and create indirect ambassadors of it.
CRM systems provide the company with intelligence and relational capabilities. With them, you can increase your customer base with actions aimed at attracting and reactivating. The main objective of these tools is to maximize the net value of the client, the ROI of the investment, and thereby improve the income statement of your company.
Benefits of a CRM for ROI
We can include the CRM benefits for the ROI of your business in the following benefits:
- It improves the prospection processes for the acquisition of new clients.
- Get more active clients by improving the processes of marketing, marketing and customer service.
- Increase the volume and value of customers with great purchase potential.
- Reduce the abandonment rate and increase customer loyalty.
- Reactivate customers who have not purchased in certain periods.
- Increase sales per customer.
- Reduce costs by automating processes.
The most important thing is that the commercial data provided by the CRM systems improve the ROI when combined with other applications that include mathematical and statistical models. In this way, your sales team can move from analytical methods to predictive methods, making better use of marketing campaigns.
Keep in mind that it is not enough just to implement a CRM so that your ROI will automatically improve. Behind this, there must be a strategy in which you set SMART objectives (specific, measurable, actionable, realistic and temporary). It’s about making the most out of your CRM to redesign the business model from a customer vision that relies on a high-performance software or system.