A professional Customer Relationship Management (CRM) system can be game-changing for a small business, improving productivity and enhancing customer service.
Where it really comes into its own, however, is in sales. The information held within your CRM system is an absolute goldmine, providing the data you need to spot sales opportunities, improve sales conversion rates and identify new customers.
It’s often said that time kills deals. A CRM system, such as Bitrix24, can help you streamline key processes in the sales cycle, such as preparing quotes and fulfilling orders, to increase your chances of closing a sale.
To make more sales with your CRM system, follow these steps:
Step one: Learn more about your customers
CRM can tell you a lot about your customers, including their communication preferences and buying behaviour. The records in your CRM system can tell you what customers have bought and when, suggesting a timeline for follow-ups and renewals and flagging up any customer service issues such as delays or complaints. The more you get to know your customers, the better equipped you are to understand their needs and anticipate their objections, so you can improve customer satisfaction and build loyalty. Your customer profiles also allow you to segment your database so you can target marketing and sales efforts at specific groups.
Step two: Find the leaks in your sales funnel
The best way to boost revenue in your business is to find the points in your sales pipeline where you are losing potential customers and missing out on deals. This could highlight any number of issues, including poor landing pages on your website, issues with product availability or a lack of customer support from your team. This analysis can show you where there are bottlenecks and inefficiencies in your business that need to be addressed. With this information, you can plug the leaks in the sales funnel and significantly improve your sales results.
Step three: Improve lead quality
What makes a great lead? Using your CRM system to understand the qualities and behaviours of your best customers can help you identify the leads that are most likely to close. With this information, it’s easy to eliminate any leads that are unlikely to convert and prioritise those that are most likely to buy. You can also use that information to find new prospects that match the profiles of your best customers.
Step four: Optimise sales from individual customers
Your best customers are your existing customers - you’ve already done the hard work getting them on board. Now you need to make sure you’re taking advantage of every opportunity to make sales from within your existing customer base. This is where CRM comes in. A good Customer Relationship Management system can tell you exactly when customers need to be contacted. For example, for contract renewal or a product replacement. By keeping detailed records of customer preferences and sales history, you can also identify valuable opportunities for cross-selling and upselling.
Step five: Use data to find new customers
Your CRM system can help you to find new customer segments and markets that you have yet to explore. By drawing up profiles of your best customers based on the data you have gathered, you can develop targeted marketing campaigns to reach new customers that fit this profile. CRM can also help you expand your customer base using a referrals strategy. For instance, you could use your CRM system to email your customers, inviting them to introduce their friends and family to your business. Incentives can work well here, allowing you to reward existing customers for their support. CRM systems also allow you to track how customers hear of your company, providing useful data on referral patterns.
Step six: Improve customer retention
Your CRM system can help you build positive customer relationships and improve retention in several key ways. Firstly, your CRM system can be used to plan a communication strategy during and after sales to facilitate customer follow-up and follow-through. CRM data also highlights at-risk customers, such as those that have gone quiet or those who have made complaints so you can solve problems, improve engagement and turn occasional customers into long-term, loyal patrons. In business-to-business settings, CRM helps you to keep detailed records of customer meetings, so you can build a stronger rapport with important clients.
Step seven: Measure and analyse results
Tracking progress is key to the success of any sales strategy. You can measure and analyse the results of your sales efforts using data from your CRM system to identify what works well and what needs improvement. CRM also helps salespeople to prepare their weekly or monthly reports for management. The process is automated and transparent; in just a few clicks, you can get a detailed picture of completed sales and those in progress.
Making the most of CRM to boost sales
By following these steps, you can maximise the potential of your CRM system and increase your chances of making more sales. A system like Bitrix24, for example, allows you to track and analyse your entire sales pipeline, from lead generation to deal closure. You can see all stages of the sales funnel, identify bottlenecks and track the progress of each deal.
CRM allows you to explore your database in depth to find new grounds with targeted marketing campaigns. This includes sending targeted notifications, offering discounts or promotions and providing excellent customer service. By using the right CRM, you can maximise your potential and increase chances of making more sales.
Copyright 2023. Article written by Rachel Miller, Money Donut