Have you ever wondered how a CRM is used in your business? A CRM in any business, is mainly used by the sales team to maintain a track of interactions with the leads, where the lead is in the sales pipeline, closing sales and then assigning value (in monetary terms) to leads which are converted into sales.
Many think a CRM is a tool to store your sales database only.
But is it limited to these functionalities only?
Of course not!
A CRM is an integral part of marketing strategy as well.
Let us see in this blog how marketers can be benefited from using a simple cloud-based CRM system.
How do you measure your marketing success? How do you know- which marketing channel you should invest more and where to invest less? Are you dependent on Google Analytics to get lead stats?
Lead Source information is crucial as they let you measure the success of your marketing channels. Hence, the following information could be beneficial for both the teams:
Where did the lead come from?
What is lead looking for?
How did they get in touch?
How many times have they visited your website?
How much time they have spent on your website?
Answers to these questions will give you a complete visibility of the health of your marketing activities and channels.
Let us assume that you have spent $2000 on several marketing channels in the last couple of months. Now, how do you know which of the channels worked betters and fetched you more leads? How to categorize in which marketing channels you should put your money into?
You definitely can find out the number of leads each marketing channel has generated. But, without a CRM it would be next to impossible to find out how many of those leads converted into sales and how much the deal value was.
Suppose your Facebook marketing campaign fetched you 500 leads and your sales team successfully converted 300 leads to customers. And your Google advertisement campaigns maybe have generated 1000 leads but only 100 leads were converted to customers.
What do you do? You allocate more funds into Facebook campaigning, right?
You can get such clarity and take prompt actions only if you have data visibility with a simple CRM system in place.
Unlike the popular idea, your marketing job does not end with fetching leads. It ends at closing deals. As a marketer the end-to-end ROI visibility can help you better assess your channels and ensure that you are putting your money where your mouth is!
When you have access to all the needed details about your leads, you can answer the more complicated questions like:
What is the exact profile of your customers?
Which segments of your customers are giving you the lion’s share of business?
Which channels of engagement offer better lead quality in terms of sale cycle, deal value, repeat purchase and so on?
All these questions would help you identify the buyer persona you need to target and formulate effective marketing strategies.
Marketing is all about experimentation and identifying the right target audience. It is also about identifying the right channels and ways of engaging with your target audience.
With a CRM in place generating intelligent reports and identifying patterns is super easy.
When you have the right information about your marketing channels, then your marketing strategy will be streamlined.
CRM is invaluable for marketers as well. It provides unparalleled benefits to businesses.
But before reaping the benefits of CRM, it needs to be implemented successfully.
To begin your success journey schedule an online meeting with our experts now!