CRM Magazine recently reported that a whopping 91% of businesses with ten or more employees currently leverage CRM platforms. And it’s easy to understand why — the reality is, it’s almost impossible to maintain a competitive edge in today’s corporate landscape without a CRM business solution.
One of the key benefits of business CRM implementation is how it can transform company decision making. We’ve seen our clients overhaul everything from the way they manage their business and align their teams, to the quality of their customer service and operational costs.
This is because CRM provides businesses with knowledge at a granular level that can be harnessed to improve processes and decisions. As we all know, increasing the effectiveness of your decisions directly impacts your company’s performance, which in turn influences sales growth.
So, how exactly does CRM work to accelerate business growth? The answer to this depends on where and how you implement insights from CRM data. Let’s take a closer look at some of the key channels of decision making that CRM for businesses can improve.
CRM can help you manage decisions surrounding your sales team, affecting sales capability and productivity. According to research we conducted for our State of the CRM Market report, 66% of UK SMEs feel that CRM has improved the productivity of customer-facing employees by providing them with data and tools they need to excel.
Businesses can use CRM features such as real-time reporting and activity tracking to ensure that salespeople share a common methodology, following best practices across the entire team.
Recognizing the precise development needs of your sales team helps you make better decisions about the systems and techniques used — improving performance and informing your approach to training to maximize returns.
You can also use CRM features such as automation to manage repetitive tasks across lead management and allocation. It’s estimated that salespeople spend an average of 41% of their day on non-revenue-generating activities — but automation can reduce the administrative burden with the potential to boost efficiency and productivity.
Lastly, CRM in business can improve forecasting with in-depth analyses of historical information. This allows you to adjust and develop future projections as well as create actionable targets and goals. When your sales team can accurately predict how much their pipeline will convert, they can adjust their negotiation tactics, optimize their sales strategy, and perform at a higher level.
Our recent report found that 62% of UK SMEs feel that CRM enhances the customer experience. Businesses must deliver value to their customers and build strong relationships to neutralize competition and increase retention rates — and CRM can help you do just that.
CRM equips your team to make more effective decisions about the customer, by placing all the relevant information about them in one convenient location. It also functions to help customer service teams track and manage support tickets and cases. Having all of this information in one place and providing your team with the necessary tools to effectively manage customers gives them more control and access to valuable insights.
For example, by using CRM in your business, your customer service team can improve how they identify and manage recurring issues, leading to better decision making. This not only saves your business money by letting you address issues at their source, but also improves customer satisfaction.
CRM can have a profound impact on many aspects of your customer experience, facilitating high retention rates and repeat business. To retain your customers and even encourage them to recommend your services to others, they must truly understand the value of your business. With the help of CRM, you can deliver exceptional customer experience and prevent churn from threatening your company.
A company that has control over its operational costs is better positioned to grow and thrive. Nearly 49% of UK SMEs surveyed by Workbooks felt that CRM was effective at reducing operating costs. This is because the insights gleaned from CRM enable your company to make smarter choices regarding overheads as well as where and how to invest funds most effectively.
Whether it’s marketing automation, improving the functions of your teams, or unifying data into a single source of truth, CRM can help your business save money on its daily functions. If you’re currently operating with an expensive and outdated legacy system, leveraging CRM will allow your company to rid itself of the burdens and costs associated with these systems.
By reducing unnecessary expenditures, you can make more effective investment decisions and allocate funds towards strategies and systems that directly impact revenue, business growth, and expansion.
Research conducted by Workbooks found that the vast majority of UK SMEs are already using a CRM for business activities, while 60% of those who aren’t are planning to in the near future. Fortunately, more and more organizations are beginning to understand the unique benefits that CRM could offer their bottom line.
CRM is the business solution helping companies to forge their own path in today’s competitive landscape. Businesses need a comprehensive tool to gain insights into their customer base and processes and inform all future decision making.
So, what are your next steps towards maximizing your business’ growth potential? Enter Workbooks. Voted as the #1 CRM for customer satisfaction, the Workbooks platform offers a level of agility, efficiency, and effectiveness that translates throughout all business activities. If you’re considering implementing CRM to gain or regain your competitive edge, we can help.
Workbooks is a CRM solution tailored to your business needs, ensuring maximum return on investment. As well as providing access to the Workbooks platform, we support our clients with practical training and ongoing consultancy to ensure success across all business functions, from marketing and customer success to sales and finance.