We all know that Customer Relationship Management (CRM) Software is a very helpful tool, but do you know this thing that the expected growth rate of CRM in 2024 is $48.8 billion globally? What is the reason for this increase in the growth rate? It is just because CRM is a very helpful tool that expedites business growth by improving cross-team elaboration, eliminating friction, managing all contact records, syncing your data, controlling your daily tasks, and many more.
● Find the right customers: Do you know that more than 79% of leads never converted into sales without taking the help of a CRM system? So, by connecting your CRM with your marketing tools such as email, social, marketing, etc. you will be able to find the best and the right customer for your business.
● Build more sustainable relationships: Almost 46% of sales leaders believe that a good customer relationship is a key to getting success. A CRM helps in understanding a complete view of your customers with your company and building a strong relationship and gaining their trust.
● Reduce the cost of sales: One survey revealed that the probability of selling to a new customer is 5% – 20%, however, the probability of selling your product or service to an existing customer is 60% – 70%. So, a CRM helps in improving sales efficiency, boosting sales effectiveness, increasing upsell and cross-sell opportunities, and many more.
● Increase employee productivity: CRM is a very helpful tool for your employees also because it is very easy to operate and employees get a chance to connect themselves with your customers. CRM reduces all the manual operations of employees and gives them time for some other operations.
So, this has been proven that a CRM Software is very helpful for a business, whether it is a small or a large business. Moreover, a CRM System also helps a business offer better customer services to build a strong relationship with them and also improve customer retention by providing new opportunities to the most satisfied customers. Hence, it is very important nowadays for every business to have a CRM tool so that you may improve your business to the next level.