Why Customer Relationship Management software is worth investing in, and how you can get the most out of it.
Statistics show that approx. 91% of all B2B companies with more than 11 employees use a CRM system, but if you do have one you might be wondering if it was worth the investment, or if there is a way to maximize its value and effectiveness? If the answer is yes, you’re definitely not alone!
CRM systems allow sales reps to form relationships more easily with prospects, and engage them with a personalized approach, thanks to access to a lot of customers’ data.
But anyone who has ever worked in B2B can also confirm that getting accurate, consistent, and relevant customer data entered into a CRM system is easier said than done. And a CRM system without updated, relevant data that can be trusted by Sales Reps and Leaders holds no value. So, you may ask yourself, is it really worth the investment?
The pros and cons of CRM
The CRM software market is one of the world’s fastest growing industries, expected to expand at an annual rate of 13.3% from 2022 to 2030.
In a B2B context, where we see sales cycles getting longer, the right CRM tool can provide an invaluable advantage.
By keeping track of the multiple touchpoints and gathering relevant information, CRM tools help you learn useful insights about your customers, so you are able to anticipate their needs. They offer a strategic advantage: with organized, up-to-date data, it’s easier to select the right recipients for your promotions.
According to our recent survey, 94% of Sales Leaders recognize the importance of implementing a CRM system in order to reach their goals.
However, industry analysts report that as much as one third of CRM implementation projects fail to meet expectations.
The data from our survey confirms this. The vast majority of our respondents stated that they are not satisfied with the ROI on their CRM, and 70% of sales leaders do not believe they get the full value from their CRM.
How can you get the most from your CRM?
Two thirds of all sales leaders believe their reps are not good enough at entering data in the system. When sales leaders do not trust that all the relevant information is in the CRM system, then the system loses its value.
Solution: Automate your data entry
Integrating your CRM with a Sales Enablement platform can be the solution to most problems that lead to failed CRM projects. Sales Enablement software like Prezentor can automate customer data from sales meetings directly into your CRM, thus increasing data accuracy and saving invaluable time for the sales reps; giving them more time to focus on what they do best – sell.
A CRM software by itself can improve speed and efficiency, but if you want to grow your sales by helping reps to sell better, you need something more.
According to NUCLEUS, companies with a fully integrated CRM strategy show an increase in productivity “across sales, service, and operations and a 20 to 30 percent growth in business”.
Sales Enablement and CRM complement each-other. The use of both solutions creates a centralized hub where data from all departments are collated, thus enabling consistent and accurate communication both with the customers and within the organization. Enabling your organisation to make better decisions and pipeline prediction.
CRM is a valuable tool that helps organizations gather useful customer data, approach prospects with personalized interactions, and create meaningful, long-lasting relationships. In order to exploit its full potential and avoid common problems that hinder the adoption, it can be highly beneficial to integrate your CRM with a Sales Enablement platform, that will automate most of the process and increase efficiency and productivity of your sales department.
Prezentor offers the possibility of integration with some of the most popular CRM tools available on the market. Book a demo today and see how we can help you reach your full potential.
Gain access to the full CRM adoption and learn what you can do to get the full ROI on your CRM system