Why Companies Need CRM

CRM Solutions today are more important than ever to help capture every opportunity and put the odds in your favor for both managing your existing customers effectively and nurturing prospects to close.  Over time, Customer Relationship Management or (CRM) software has increasingly evolved to include more business tools necessary to help companies with staying on track for necessary activities to support company growth.  Below are some of the key reasons why companies Need CRM.

Management of All Customers and Prospects:   Simply put, if your Sales & Marketing teams do not have a centralized tool to maximize every lead/prospect, sales opportunity, and customer relationship – you should be very concerned.  From a marketing perspective, increasing your interactions is important as is changing your messaging to reflect what is top-of-mind is key.  Sales Leaders need a tool to manage teams and assure every opportunity to either generate revenue (leads/opportunities) or protect revenue (manage existing customers).  This is where CRM technology is designed for; one technology solution for effectively managing both customers and leads.

Better Proven Business Process Review:  As mentioned, CRM software has gotten better over time.  One area that is critical for closing new business is the methodical and proven business method for proper prospect follow-up.  There is nothing more frustrating for Sales & Marketing leaders to learn that a new prospect purchased from a competitor because sales did not properly follow up. Today, the timing of new prospect follow-up is critical. Most sales experts highly recommend that initial follow-up on new leads/prospects be performed within 1 hour, doing so increases your chance of converting leads/prospects to revenue significantly. Also having a consistent and thorough lead/prospect follow-up process will significantly improve your team’s lead qualification rates. If your organization does not have some sort of system in place already, such as a CRM system with this Key Feature or proper sales follow-up, is risking lost revenue from lost sales. Lead Conversions, therefore, is critical to having a return on investment when investing in CRM, plus a solid system for sustained business growth.

One solution for both CRM and Email:   Efficiencies are gain when both primary systems business use, such as Microsoft Outlook and CRM Systems with a strong connection between both. Having tight integration with CRM and Outlook, you don’t have to toggle from both applications to get your important CRM information when you are accessing your email; everything is tied together. Modern CRM technologies bring these 2 complimentary systems together for greater convenience while boosting user adoption; key for CRM systems deployment success.

Advanced CRM Technologies:  CRM systems are not just a place to manage your contacts, however, expand on several available technology offerings to get better insights on new business development, reporting, and CRM sales intelligence. For example, functionality exists today that once a new prospect is established to populate relevant information about that organization into your CRM systems such as revenue, industry classifications, contacts, and even social media posts along with company news.  Having this rich information about a prospect can give your organization much better insights into the future account.  Another example of advanced CRM technology is mapping data in CRM.  Not only can you find nearby Customers or Prospects by radius from your current location; you can now also visualize CRM data on mapping which can also be categorized. Finally, it should be noted that business reporting in CRM Software has greatly increased over time as technology rapidly advances.  Some CRM systems have “built-in” sales analysis for example to display such key metrics as win-loss rate percentages, average days to close, and sales representative performance.   Reporting can even be further enhanced by the integrating of robust business analytics services such as Microsoft Power BI, which can pull CRM data to create useful and deep visual data dashboards on information that important to your company.

Power-CRM, offered through iCepts Technology Group, is a next-generation, cloud-based Customer Relationship Management solution built on the Microsoft Power Platform, a leading rapid-low code application development platform. Power-CRM’s mission is to solve the problems that lead to a greater than 50% failure rate of CRM initiatives. Power-CRM is more than just CRM software, it is the first complete platform for Customer Relationship Management incorporating onboarding and ongoing user adoption alongside the best CRM functionality available. Power-CRM has many of the add-on technology enhancements just described and also is a user-friendly and affordable system to help your company succeed.

Learn more about Power-CRM offered through iCepts Technology Group, Inc.