The way sales are handled has really changed over the years and the key to a business’s success and growth has become the use of back-to-back lead management software also called sales CRM. Rather than having big data lists that you do not update or might even forget about, with the right technology you can solve some of your sales problems. Here is a closer look at how it can make a difference.
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Creating a formal process for nurturing leads to revenue
As many as two-thirds of businesses do not have methods outlined to nurture leads. Rather than a clumsy system that leaves your sales and customer service teams lagging or having too much information in different places, with good CRM software you can ensure your salespeople can track leads in the sales funnel, be able to forecast with much more confidence and accuracy and combine lead activity information, email and social media data in one place. With the right system, you can boost your accuracy in forecasting by as much as 42%. All of your sales teams are following best practices for quarterly and monthly forecasting and all using the same methods.
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Integrating sales and marketing
CRM manages the sales pipeline and marketing focuses on the funnel part of the pipeline. They send the prospects in the funnel where the sales should pick them up and turn them into customers. When you have good sales CRM you are combining the two things so they work better together, have the same information and marketing gets all the information the sales team needs and can find. Sometimes those sales are not quite ready and get passed back and the marketing team needs to get them back to the funnel and wait till the lead is truly ready. Working together means far fewer leads are lost. When you consider almost 80% of marketing leads do not actually ever get turned into sales leads, it is important to hold onto all that you can.
Also see: CRM for financial advisors
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See and benefit from real-time data on prospects activities
From some CRM software, you get access to alerts letting you know what activity certain leads are following, who has clicked on emails sent for example or has changed jobs, with this kind of instant or fast insight into how engaged a lead is you can really have a better place to come from in terms of sales. It is also a good way to bring back what became a cold lead with little to no activity.
Summary
A business that invests in a decent CRM system that suits their needs is going to help not just their sales team but their marketing team too. You can generate better reports that can really help your employees, your customers and your profit. It also means you have a better indication of how the team and individuals are performing and reward those who deserve it.
