Good day one and all. Readers and friends,
it always feels great to talk to you. We take pride in doing all that we can to
keep you informed. Today, let’s talk about immediate ROI using CRM. Do you think
immediate ROI from CRM is a Dream or Reality? Well, keep reading to learn
what we think.
Now, the investments made towards building
CRM softwares, maintaining them, updating them, and keeping them working fine
for users globally are huge. Every year, an approximate value of a whopping
$18b is what is spent on the CRM. It is crazy, right? But it is true. And the
one of the biggest aims of the CRM is to achieve attractive and instant ROIs.
The good news is, ROIs can be achieved almost instantaneously once we run all
our investment activities through the CRM software, but we have to be careful
about a few factors.
A recent study of CRM makers, conducted by
a known Research group, showed that the successful projects generated returns
of nearly $5.60 for every $1 they had spent. This is a great number when you
see the whole picture. However, there are many companies who do not achieve
this. That is why we need to look at what works, and what doesn’t.
Have you calculated the ROI you are expecting?
On of the major reasons why many CRM
projects deliver high amounts of disappointing returns, or sometimes fail completely
is because they get the first step wrong. Here are FOUR common things CRM users do incorrectly.
Companies switch from one CRM software to another,
without looking at its abilities and limitations.
Most times, the Sales and Marketing goals
of a company are not the same, and hence there is a clash and the CRM does not
know what figures to produce.
Senior managers and the administration
often ask for daily or weekly reports. But it has become more of an EOD
activity, and those who ask for reports rarely study it and hardly ever build
new strategies surrounding it.
Companies install a CRM software and think
they have done their part. Does a software have the brains of the human brain
to decide for itself? Think about it.
What are your Revenue Ambitions?
Have you defined what you expect from your investment
into your CRM software, or like many unsuccessful CRM projects, have you
installed the tool and then forgotten about giving it the needed instructions?
Well, try doing these TWO things.
Train your sales team to interact with your customers
effectively. When they know more about the clients, target sales figures
improve along with new lead conversion rates.
Your existing customers can become your happy,
returning customers. Your sales team, having interacted with them effectively,
can come up with more relevant and valuable information to help them.
There are other factors too that need to be kept in
mind while aiming to achieve immediate ROIs from CRM. It is a reality, provided
you take the right steps.
That said,did you know that our CRMnext tool can
achieve immediate ROIs for you?We are CRM specialists. We have the right
technology to manage all your customer related processes. And, our goal is to
constantly endeavor towards a fulfilling user experience. CRMnext is a
detailed yet, easy-to-use, Customer Relationship Management solution. Its
features and functionalities are capable of completely enabling companies to
manage and enhance customer facing operations, and achieving instantaneous ROIs are something we boast about. Get
in touch with us today. Have a good day!