B2B sales processes are time-consuming and take a lot of effort to bear fruit. This is because customer relationships need a lot of nourishment. Unlike B2C, the target audience in B2B marketing is limited and doesn’t get swayed easily by marketing talk.
A B2B lead is usually converted after a lot of cajoling that involves face-to-face meetings, email exchanges and phone calls. Most traditional companies rely on excel spreadsheets to keep track of communication with each client. The purpose of this article is to highlight the role a CRM can play in ensuring sales teams handle client interactions more efficiently.
What is a CRM?
There are still a lot of people who are not aware of CRMs. It is an abbreviation for Customer Relationship Management. It represents an extensive app that helps businesses manage existing and potential clients effortlessly.
A CRM is used to consolidate information about clients so that maintaining sales relationships is a lot easier. Let’s explore some of the benefits offered by CRMs:
1. Helps you store data conveniently in a database
Hassle-free storage and retrieval of customer data should be given high importance in your organization. A CRM allows the business to keep track of customer records and ensure that it doesn’t fall in the wrong hands. Businesses with very few customers will hesitate to adopt a CRM but it’s important to think about the long-term benefits. A CRM will help small and young companies grow in the right direction by adding a new level of efficiency
2. Helps to monitor progress in B2B sales efforts
A CRM will help each member of the sales team track and understand the status of a B2B sales effort. “What was the result of a pitch last week?”, “Has the client responded yet?” and “How well is a sales initiative faring?” are some of the questions you can track. Of course, the CRM will need to be regularly updated with sales data against each customer to ensure optimal tracking.
3. Helps to aid in collaboration
A CRM will serve as a fountain of data! Users can rely on it to brainstorm and plan their next B2B marketing strategy. The data will help them decide which sales methods to adopt and which ones to dump.
4. Helps reduce mistakes
Some team members may make a call to a prospect without realizing that the customer was just approached last week! The prospect may find the second call intrusive and aggressive, ruining chances of securing a deal. A CRM will provide reliable data of prospects approached, making it easy for team members to select the right people to call or send an email to.
5. Helps in defining roles
An easy way to assign roles to each team member and ensure it is implemented is by defining sales goals on the CRM. Get each team member to pursue these goals and update their progress at regular intervals. This helps to provide the employee with a sense of responsibility, spurring him/her to be more productive.
What kind of CRM should you go for?
The CRM you chose should be based on your sales needs. The first thing to do is sit with your team and plan a consolidated sales strategy. Approach local service providers with the strategy to understand how they can serve your needs. You should opt for a CRM solution that completely meets your complex needs.
How much does a CRM cost?
There are 2 options ahead of you. You could hire an agency to create a CRM app for your business. Or you could approach an agency that offers hosted web apps. In the second scenario, you will have to pay a small monthly fee per user to use the CRM. This fee will be in the range of $10 to $15 or even higher if the app offers a lot of features.
Did you find this article useful? We hope it encourages you to leverage the power of CRMs to your benefit! We wish you great success in your B2B marketing for 2017!
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