The Importance of a CRM

CRMDoes your company need a CRM? To put it simply, a CRM means the difference between retaining or losing customers.

It really is that black and white.

It makes sense when you think about it. Customer relationship management (CRM) is all about the practices, technologies, and strategies that companies of all sizes use to analyze and manage customer interactions throughout their lifecycles. If you are able to access this information, you can improve the customer experience and increase your revenue.

Still not convinced? Look at some cold, hard facts related to CRMs.

It Impacts Customer Satisfaction

You want your customers to be satisfied. Satisfied customers come back and buy more, so you will do anything you can to make sure your customers are happy. That is why you need to adopt a CRM system. CRMs allow businesses to better track individual clients or accounts, meaning less information slips through the cracks. Taking notes is an important part of keeping up with your CRM. When you’re on the phone with a client, it’s nice to reference something personal that you talked about on your last call. It shows them that you care, and that their business matters to you. It creates a personal connection.

Forty-seven percent of CRM users state that their CRMs positively impact their customer satisfaction statistics. In other words, CRMs create satisfied customers, and that, in turn, helps with customer retention. The same number of people surveyed stated that their customer retention was impacted by their CRMs. Those two go hand in hand, so that should come as no surprise.

Improved Access to Customer Data

Data is the most powerful tool that you have at your disposal. When you get data on your customers, you know what they want and how to deliver it. The more data you receive and keep track of, the better your results will be.

That’s another reason that a CRM is so important. Seventy-four percent of CRM users state that their systems provide them with better access to customer data. Imagine how your business would change if you had more access to data.

The ROI Is Huge

Let’s be honest. Business is all about dollars and cents. You are willing to spend the dollars if you’re going to make even more off of the investment. On average, the ROI for CRM is $8.71 for every dollar you spend. You are able to serve your customers better with CRM, and that pays off in big ways.

So why is the ROI so high? It has to do with what a CRM does to your sales. It can increase them by as much as 29 percent.

It doesn’t just improve sales. It also increases sales productivity by a whopping 34 percent and the accuracy of the sales forecast by 42 percent.

As you can see, you need a CRM to excel in the business world, but these systems can be pretty pricey. Fortunately, you can get a top-notch CRM system without the high cost by going with Lead Liaison. Not only does Lead Liaison have a CRM ready to deploy, but it is completely free. Find out more about how this CRM can help you reach your business goals.