There are a number of different benefits to CRM software, and one of these being how it helps to manage the sales funnel. A new article in the Smart Data Collective has highlighted some of the ways that it does so, and we're going to take a closer look here:
It records all of the interactions
CRM software enables the company to build a definitive repository for customer contact data, meaning that it can in effect replace three things: the company's individual contact list and address book, the main marketing database and the resolving issues database. All three can be monitored from one place.
It provides a pipeline to follow
If it's been configured properly, then the CRM software used should be able to be configured in such a way that it exactly matches the company's sales pipeline. It's therefore possible to see exactly where any single account is in terms of the sales funnel - it's even possible to edit the software so that it works in 'stages'. This means that the sales team can see when a particular lead is in the riskiest stage of the sales process, allowing them to provide the extra attention.
It can automate
Some of the most mundane and time consuming parts of the sales process can be automated using the CRM software, saving money and time. Things like delivering e-mails according to schedule, collecting responses and then monitoring click-through, message opens and other statistics, can all be conducted by the CRM software's processes.
Sales team member loving seeing how they have done and how they are doing against target, and motivation can be attained by showing real time comparisons on how other team members perform so make sure CRM is equipped with real-time reports and dashboards.
Source: Smart Data Collective
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