According to various surveys conducted, customers make approximately 51% of their purchases online. As a result, businesses, including those selling local products, are pushing towards creating a more significant online presence.
But as a company’s consumer base grows, customising customer interactions becomes challenging. This is where a customer relationship management (CRM) strategy steps in.
Today, with the right CRM software, businesses can:
So here, Pipedrive is breaking it down and explaining how you can employ CRM to drive more traffic to your virtual doorstep and enhance your return on investment. Significantly.
Without a CRM strategy, 79% of marketing leads are not being converted to sales. When marketing tools like social media, email marketing, and several other automation are linked to a CRM platform, your sales and marketing teams will access all the information.
So they can then tailor their efforts and focus on buyer personas that are most likely to convert to sales. By taking into cognisance your target demographic’s age, gender, location, income and marital status, among several other factors, and by creating dynamic communications, your team can hone their efforts on the right kind of lead nurturing to accelerate conversion rates.
About 46% of sales leaders believe that creating customer relationships is an integral part of long-term success. When customer relationships are based on trust, retention increases, and this is how a CRM system can help your organisation:
Sure, expanding your consumer base is essential, but customer acquisition and lead nurturing don’t come cheap. Did you know that while selling to new customers has a 5% to 20% success rate, existing customers are about 60% to 70% more likely to repurchase your product? So by ploughing back profits from sales to existing customers, you can attract new customers, enhance your visibility, and grow their trust.
A CRM platform can accelerate your business performance by:
According to the Harvard Business Review, 52% of the sales force successfully employ CRM technology to achieve better results. Since automation saves time, employees can build stronger customer relationships and send more consumers down the purchase funnel.
The CRM platform is indispensable from understanding the most opportune moment to employ marketing promotions to providing stellar after-sales service. It will provide your team with access to detailed customer history so that you can enhance their experience along various touchpoints of their journey, thereby building trust and motivating repeat purchases.
According to the Harvard Business Review, when your customer defection rate decreases by 5%, profits can increase from 25% to 85%. So from pursuing at-risk accounts and understanding your customers’ buying behaviour through their history to strengthening your email marketing strategy, you can enrich your customer experience, which will help create brand loyalty in the long run.
Before you decide to implement CRM software, determine the following:
When you establish goals in advance, you then have the means to measure actuals against them. Since there are different kinds of CRMs, each with specific features, you will better understand which CRM software will suit your business the best by determining the answers to the above questions.