Every business is prone to hurdles. The sooner you take it to your stride & move on, better for your business. Surprisingly, most of the businesses don’t realize that a CRM solution could be of great help in such situations. It’s not that a CRM will solve all your problems and your company won’t face them in the future. Rather, it can eliminate a lot of those challenges and make it easier for you to face them in the future as you grow.
A report says, businesses that implement a CRM can not only increase sales by 29%, but they’re more likely to improve sales productivity and forecast accuracy.
Here’s a list of the most common challenges that businesses face without a CRM
Departments are usually divided into profit centers and cost centers in the business world.
Due to limited funding, businesses often distribute more money from their budget to areas that are profit centers.This often puts the customer service teams in a situation where they are left overworked and underpaid.
Concluding, customer service ROI should be a standard measurement for every team.WHAT IS THE RETURN ON INVESTMENT (ROI)?The Return On Investment (ROI) is a measurement method that compares earnings to the expenditure of a company.
ROI can be calculated using a simple formula [(Profit — Expenditure)/Expenditure] x 100.Let’s assume, a company invested $100 in customer service and, in return, made a profit of $150.
Let’s say a company employs a sales executive for $1000 a month, and in return, he brings revenue of $5000, now this is a great return.
This would not have been possible without customer service, which here aided in marketing.HOW TO MEASURE CUSTOMER SERVICE ROI?Based on these ways, you can measure customer service ROI.Decide Your Team Approach and Customer Actions.Prepare a proper plan.
The first is to attract new prospects & leads towards your brand, while the second one involves dealing with an existing customer to get additional business.
In order to accomplish these objectives, it is crucial for businesses to stay on top of consumer’s mind by ensuring consistent and continuous interactions with them.
However given the customer’s immense awareness and expectations nowadays, these emails or messages need to highly personalised and contextual.
If you go about writing each & every mail yourself then it can be very time consuming and takes you away from your main goal which is generating profits for your business.
The technology used for segmented marketing automation is called customer relationship management or CRM, and using tools such as Infusionsoft to eliminate repetitive tasks such as staff workflows and increases the overall marketing efficiency.
Both B2B and B2C companies can benefit from Infusionsoft implementation to keep their marketing materials current and delivering it to consumers without over-communicating with those who are less likely to engage with your content.
Approximately 44-51% of businesses do not have their own website, and unfortunately, this means that they are missing huge profit potential. Many business decisions start with search engines today, and if you do not have your own website, you are only reaching about 7% of your market. Failing to have a website means you are missing out on one of the biggest and best marketing tools available to you today. Here is a closer look at the benefits of having a website, as well as how a website can improve your business today.