Implementing a Customer Relationship Management (CRM) system is one of the best steps you can take to improve your conversion rates. According to research published by Hubspot, approximately 62% of marketers use built-in marketing or CRM software to further their marketing efforts.
The priority of any successful business is to discover and retain new customers. CRM platforms help you do that. With advanced analytics and intuitive design, CRM benefits your company in more ways than one.
But studies show that 22% of sales professionals are still unclear about how CRM systems can increase their productivity. And so, here, we’ll discuss just that- the top 6 ways CRM benefits you to create a better marketing campaign. Let’s begin!
1. CRM Systems Help Nurture Leads
Imagine this. You want the attention of a group of people in front of you. You get up on the chair and say your piece. But now what? You can’t force them to buy what you’re selling. Do you even know if they understood what that was?
The answer is no. But knowing your customer is important for you to move ahead and make the sales. This is how CRM benefits your company- by studying your customers.
With a CRM system, you can collate customer data from various sources like social media, blog posts, etc. It can also identify keywords that might be responsible for increased customer attention. CRM software helps you optimize your lead generation funnel and drive conversion rates.
2. CRM Software Maintains Data Integrity
You need accurate customer data for successful marketing campaigns. CRM benefits your company by collecting and maintaining data integrity.
These systems offer multiple avenues to capture customer data. Setting data collection and saving standards at the onset ensures your marketing efforts are based on up-to-date and well-segmented data.
Instead of manually feeding in and checking customer data, the CRM software can be programmed to eliminate duplicate data, send out emails to re-verify or update customer details, etc. You can also inculcate data quality tools directly into your CRM systems for added benefit.
3. CRM Software Helps Improves Customer Retention
Research finds that finding new clients is five to 25 times more costly than retaining existing ones. And so, customer retention becomes one of the most important goals for marketing teams.
CRM benefits your company not only by discovering and nurturing potential leads but also by keeping your customer engaged.
CRM systems do this by intimating sales professionals if customers haven’t been contacted in a while or can be programmed to automatically reach out to customers periodically to keep them hooked.
Further, with customer data shared across departments, CRM benefits you by engaging its intuitive design and anticipating problems to solve them faster.
4. CRM Software Helps Make Targeted Efforts
CRM benefits your marketing team by collecting customer data and managing it in a way that helps you know your customers and their needs. With accurate data, you can create relevant marketing campaigns that will have an impact on your customers. CRM systems help you personalize your offerings and make customers feel heard, understood, and valued.
Studies found that 72% of companies use CRM systems so that they can track customer interactions.
Approaching a customer with little or faulty knowledge will not only result in a waste of marketing efforts but also has the potential to ruin your brand image. CRM software helps you to target the right customer with the right content at the right time.
5. CRM System Provides Marketing Automation
Research shows that a whopping 82% of organizations find CRM systems’ marketing automation feature extremely helpful. CRM benefits your company by doing mundane but error-prone work and freeing up valuable professionals for more advanced, creative tasks.
Marketing Professionals can spend more time on efforts to attract, nurture and retain customers. Some examples of how the CRM system achieves this include,
- Based on the parameters set, it can segment leads so that sales professionals can identify which marketing-qualified leads (MQL) can convert to sales-qualified leads (SQL).
- It can nurture leads through drip campaigns, saving the time it takes to send emails.
- It can tackle easy customer queries like order status with built-in A.I.
This allows marketing professionals to concentrate on tasks requiring more grey matter.
6. CRM Software Gets You Higher ROI
CRM benefits your company by automating mundane tasks and providing all the data you will need to make sound marketing decisions. From how many potential customers have reached your landing page and how many have converted into paying customers to which marketing efforts have yielded the highest return. A CRM system gives you all the information.
On the basis of this, you gain insight into customer preferences and how your company is perceived by customers. Ultimately the mark of a successful company is that it earns more than it spends.
And with an intuitive CRM platform, you get more than you give. A study by Nucleus Research found that CRM systems pay back $8.71 for every dollar spent.
To Sum Up
According to a report published by Grand View Research, the global CRM software industry was valued at US$ 52.4 Billion in 2021 and is projected to grow at a CAGR of 13.3% between 2022 and 2030.
CRM software is specifically designed to help you manage and nurture relationships with your customers with the objective of driving productivity and sales.
The average attention span of a person is just eight seconds. Armed with predictive analytics, your CRM system helps conversion rates by providing relevant data to your potential customers and convincing them to check out your landing page. CRM software collects data and segments it so that you can make targeted efforts and drive sales.