The importance of customer relationship management (CRM) applications can be attributed to their role in improving sales by targeting the right audience. CRM leverages customer data to communicate with them through improved marketing communication. According to Salesforce.com, CRM applications can help improve sales by nearly 29 percent. (1)

CRM applications must be used in the right way to funnel customer data. It is important to define the most valued customer, focus on customer acquisition techniques, seek sources and acquire new customers. CRM analyzes the effectiveness of previous communication by reviewing previous orders and service requests. Additionally, applications may be targeting a more strategic role.

Sales data analysis: CRM applications can enable sales volume forecasting for a specified period of time. This helps the sales team map out sales strategies, prevent sales drops, or plan for operational effectiveness to improve sales. Better coordination and collaboration between various teams like marketing, inventory, logistics and shipping can be maintained to satisfy customer requests within a stipulated time frame. It can also assist in meeting organizational goals related to time management. (2)

Serving the most desired customer: Segregation of customers into “most desirable”, “desirable” or “potential” through CRM applications can shape the marketing strategy. Data can be collected through the application for customer segregation and allow the company to channel its efforts towards the most desirable category. The apps allow the sales team to follow valued customers through the entire sales process to the final purchase and feedback session. This allows you to assess how effective the sales process is and measure customer satisfaction. CRM data can also be used to modify the sales strategy to target the category of desirable and potential customers and make them “most desirable”.

Selling suggestions is another sales strategy that CRM applications help implement. Recommendation tools allow sellers to focus on the best time to recommend new and improved products and accessories related to a specific purchase. or unrelated purchase. (3)

The focus should be a buyer-centric sales and marketing strategy. Better engagement tactics are needed during the sales process because many buyers have access to company information online. (4)

Source rating: Data from the CRM application can be analyzed to assess the effectiveness of various sources in generating and converting leads. Working on analysis from multiple sources can help determine the most effective strategy from a sales and marketing perspective. (5)

Client retention: For any business, the most difficult task is to retain customers and reap the benefits of lifetime value relationships. Serving retained customers can make sales efforts more effective. This can lead to better serving customers, understanding their requirements, monitoring communication with them, and developing stronger customer reports. (6)

Developing relationships through personalized communication, based on the behavior of the previous buyer and the analysis of current needs, can help build customer loyalty. CRM not only maintains new profiles and customer purchases, but also tracks retained / loyal customers. (7)

All of this helps develop stronger ties with customers, sharpens persuasive marketing strategies, and improves customer engagement techniques.

ROI calculation: Sales data can be analyzed to assess ROI regarding advertising and marketing efforts. Each channel can be individually monitored regarding its contribution to income generation. A cost / benefit analysis can be performed for each sales and marketing channel to predict lead generation, study lead pipelines, and allocate resources. (8)

Prices for placing strategy: CRM software can help design the correct prices by monitoring customer orders, analyzing inventory, and fulfilling orders based on product availability. (9)

Goal alignment: CRM applications can link data related to sales and marketing strategy to analyze the level of synchronization of goals between these two related fields.

It is very essential that marketing and sales collaborate to engage, develop and convert leads into real and repeat revenue cycles. Any gap between the two teams can lead to a poor buyer experience and lost opportunities. For smooth communication with buyers at various stages of the buying cycle, both marketing and sales must develop a program. (10) This synchronization can be achieved by implementing a CRM application as part of an overall strategy.

References

(4.10) Carlos, Hidalgo. “4 Strategies to Transform Your Lawsuit Process”. February 13, 2013. Software advice. February 17, 2015

(1, 2, 5, 6) Jeff, Orloff. “The role of CRM in sales strategy”. February 2015. Toolbox for IT. February 17, 2015

(7,8,9) Measurements, Arlette. “Role of CRM in the sales strategy”. 2015. Small Business Chron website. February 17, 2015

(3) Neil, Kokemulle. “Role of CRM in the sales strategy”. AZ Central website. February 17, 2015