Sales are the ultimate activity that can lead to growth, revenue and profits. Every business owner knows that sales are the ultimate answer to get anywhere. If you need to take your business to a certain place, there are bound to be financial goals involved. And getting to a financial goal inevitably involves sales. KB Sales CRM is what comes into the picture for such operations.
Before we delve into the sales CRM arena, we need to understand what CRM or customer relationship management is. CRM is what drives many businesses today thanks to the multitude of opportunities that are available in the digital world. With the help of CRM, businesses are able to organize the information that can drive reach and engagement efficiently towards conversion and customer retention. All this has to do with one word: relationships.
When you have a small business, it is imperative to build the business on the basis of relationships. This will propel you towards greater scalability since you will not only be able to convert your customers, but you will be able to retain them too. All this has to do with having and using the right information at the right time. This is where a CRM framework steps in.
So, what is a sales CRM?
Sales CRM is a system that powers the sales pipeline in a manner that fuels the following:
- Lead generation
This entire process is one that has the following steps for each and every prospect until he or she turns into a customer. The process can get repeated for the same customer if there is a new product or service that might interest that person, in which he or she becomes a lead and a prospect again.
Now that we have understood and established the meaning of a Sales CRM, we need to understand why it is so important for your team and why your business needs it:
1. Capture More Leads and Information: As per many studies, about 89% users of CRM say that they do not get enough information to close a deal of high volume or high margin from the CRM alone. This means that we need a sales CRM or a sales based CRM in order to close such deals and make the business that much more scalable. When we are able to capture more information about leads, we are able to service them and engage with them in a far better manner which would make a sales closure possible as well. Without this function, a CRM does not do half the job and is only good for small deals and sales pipeline that do not amount to much in the scheme of the larger goals that the business might have.
2. Simplification of Sales: When you have dedicated sales CRM, you will find that your entire process from lead generation and reach right on to conversion and retention becomes that much simpler because all the focus would be around the simple function of making a sale with the right elements in place. The sales pipeline figure and target would propel the team to set up a framework that can be created in order to get maximum out of it. When we do this within our business, we are actually making a conscious and strategic decision to move towards converting more people within the resources we use rather than stopping at engagement. This also helps us use our teams and their core skills in the right manner for the right output.
3. Targeting becomes Easier: When we have a sales CRM working with our teams in the backend, we manage to understand and imbibe our targets in everything we do. All our actions are targeted in the sense that we choose to do those activities that would adhere to the targets we have set and the targets that have been generated by the marketing automation side for higher conversion rates. It is also a well known fact that targeted campaigns often help in finding the right leads and prospects so that you do not have to waste your time and your bandwidth on reaching too many people from that audience group. It helps you narrow down and find the right customers who would serve the scalability aspect of your business and the overall goals that you have. The point is that the sales CRM will help you make an impact in a market that can keep giving more and more customers to you over a longer period of time.
4. Remain Updated: One of the many functions of a good sales CRM structure is that it allows you stay updated since it gives you analytics and it also tracks your deliverables, like your emails and the social media posts including who viewed it and who did not. Further, when you have set the targets for a campaign, it will regularly give you updates about those targets and the trending news so that you are able to make more conscious decisions regarding the sales strategy that you would like to follow in order to close a deal. The updates will also help you restructure and regroup so that you are constantly able to improvise on everything that you have to do. This would mainly happen because the CRM system would be a sales based one.
5. Understand the Customer: With sales CRM in place, you would be able to understand the customer and the market in a far better and more beneficial manner. This is due to the fact that the sales CRM approach would help you look at the customer as someone who can offer you revenue and scalability. Thus, the information would also be stored in a way that would be the base for your sales based activities and to file conversions in a more definite manner. The understanding of the customer and the market would spring from these targets.