Intellika Blog

Intellika experts discuss the key initiatives of business transformation and accelerating innovation.

NAVIGATION - SEARCH

Immediate ROI from CRM a Dream or Reality?



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!

Team Intellika

Comments (1) -

Informative Article Smile

Reply

Add comment