You finally implemented a customer relationship management (CRM) solution and you’re not achieving the sales performance you hoped for. Well, you’re not alone! In fact, research shows that 30%-60% of CRM implementations fail. With the amount of resources it takes to implement a CRM, you want to see sales results. Here is your guide to improving CRM ROI.
42% of CRM capabilities remain unused, according to Gartner. Combining traditional sales approaches with a CRM isn’t enough to turn your salespeople into superstars overnight. And, it may not even help you achieve immediate marketing and sales alignment.
Key insights to drive sales success
CRM is the top choice for a sales enablement tool. This is great, but it isn’t a stand-alone solution and is simply just a piece of your sales technology.
With its ability to store customer information, offer predictive analytics, and integrate with marketing automation, CRM helps your internal sales team manage accounts, secure new business, and upsell existing clients.
Here are the successes other companies are seeing with their CRM investments.
- CRM offers $5.65 average return for every $1 spent.
- Companies have reported as high as 15% improvements in sales function metrics.
- 87% of companies that are ‘extremely/satisfied’ with CRM are increasing CRM budgets (C5 Insight.)
How do we improve CRM ROI?
The best way to get the most out of your CRM is by integrating with systems like marketing automation and content management platforms. By integrating your CRM with these platforms, you can create a single sales hub. This means that you will have easy access to marketing collateral and on-boarding and training materials. Additionally, you will gain insights into buyer behavior from marketing and web activities.
Integrating your CRM with a marketing automation platform will ensure a seamless transition for the buyer. Starting when marketing begins nurturing the prospect through the funnel, and ending when a lead reaches your salespeople. Additionally, when you integrate a content management platform, sales reps will no longer waste time searching for collateral when it is most needed. A robust CRM is capable of recommending lead-specific content based on predictive analytics, marketing interaction, sales stage, and industry trends.
Finally, a good CRM integration enables sales reps to automatically record meeting data in real time without having remember the conversation after the fact. When it is properly used, a CRM will always have the most up-to-date data.
When you streamline the processes of customer data and sales content in a way that makes sense, you are able to add value and drive ROI from your CRM investment.
With a CRM, it is possible to help bring your sales content to life and improve the processes your sales reps use to organize, present, and share content. It also allows for better communication with customers and your internal teams. Your guide to improving CRM ROI is something that needs to be paid attention to in order to improve sales performance.
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