CRM stands for customer relationship management. Many businesses use a CRM system to help manage their prospects and clients. While that may sound great, why do you need a CRM?
CRM tools are becoming increasingly popular with businesses from all types of industries. Between 2020 and 2030, the CRM market is expected to grow 12% each year.
Since so many businesses are using CRM, it must offer some excellent benefits. Right?
Let’s explore how a CRM system can help your manufacturing business grow and speed up your sales cycle.
- A CRM system gives you a centralized database for all customer information and interactions.
- With a CRM solution, you can keep track of all potential leads. The system can even qualify them to give the best leads the highest priority.
- CRM helps you improve your customer service reputation by anticipating customer needs and being more responsive to customer complaints.
- Any business that runs marketing campaigns can benefit from a CRM solution.
What is CRM?
A Customer Relationship Management (CRM) system is a software tool you can use to track and manage your interactions with customers through every step of the sales cycle. It automatically collects customer information and organizes it.
This feature makes it easier to track each contact so you can give them the attention they need at the right time. A well-run CRM program can improve the overall customer experience, which should lead to improved sales and a shorter sales cycle.
Why Do You Need a CRM? Recognize These 8 Signs
You might feel like you have a good handle on your sales process and customers. However, you might be selling yourself short and missing out on improvement opportunities by not using a CRM system. Below, we outline 8 signs that your business needs a CRM.
1. You Struggle Finding Customer Data
Do your sales and customer service teams have to search through emails, random sticky notes, and spreadsheets to find the right customer information? These “old school” methods limit your customer visibility and can increase customer frustration.
A CRM system keeps all customer data and interactions organized in one location. When a customer calls in with a problem, whoever works with them can see a complete history for this customer. This can improve customer service and customer retention.
2. Leads Get Lost
Keeping track of and following up on leads is one of the most important things your sales team needs to do. If you find yourself in the fortunate position of having more leads than your team can handle, a CRM solution can help.
A CRM system can sort and prioritize your leads, so the most qualified leads are addressed first. Instead of having to rely on your gut feelings, you can use real data to make these valuable business decisions.
3. Customer Service Is Falling Short
Closing a sale is just the beginning of your relationship with a customer. You need to continue to nurture that relationship through customer service. If a customer calls in with a complaint, your team needs to respond effectively. One bad customer service review can have serious effects on your business. Data shows that 94% of consumers have decided not to do business with a company after reading a bad review.
If your customer service strategy is not good enough, your online reputation could easily suffer. A CRM solution can help you manage your customer service more effectively and even anticipate customer needs before they happen.
4. You Don’t Know What Your Sales Team Is Doing
Sometimes your sales team is in the office and sometimes they are on the road. Do you know how they are performing? A good CRM solution allows your sales staff to add customer details from anywhere, so this information is instantly available for everyone to see.
5. You Have Long-Term Relationships to Manage
Your best clients are the ones you have had for years. They trust you and keep coming back for more. Make sure your return their loyalty by showing them how much you appreciate them. A CRM system will automatically remind you about important customer events and milestones.
When you get these reminders, you can contact your customers and celebrate with them. This small gesture shows them that they are still important to you and helps to personalize your relationship with them. CRM also ensures customers still feel valued even if their original contact has moved on.
6. You Can’t Predict Your Growth
No one knows the future. However, an effective CRM system can give you a good idea of what is to come with sales reviews and forecasts. If you are unsure of what your business will look like even a year from now, a CRM solution can help you adjust to the future.
7. Sales Cycle Is Too Long
In the manufacturing industry, sales cycles tend to be longer than in other industries. However, if they are too long, customers may lose interest and move on to the competition. With a CRM solution, you can keep track of where each customer is in the sales pipeline, what their pain points are, and what happened during the last business interaction. Having easy access to all this information can help you improve the efficiency of your sales cycle.
8. You Have a Marketing Strategy
If you have a marketing strategy, you should be using a CRM. A CRM system helps you monitor your marketing campaigns, so you know what kind of results they are bringing in. For example, if you send out a marketing email and a prospect responds to that message, your CRM system will automatically keep track of that information.
Benefits of CRM to Manufacturers
Now that you understand why you need a CRM system, you can explore all the many benefits that come with it.
- Improved customer service
- Increased sales
- Better customer retention
- Detailed analytical data
- Improved productivity and efficiency
- Enhanced customer communication
- Increased sales forecasting accuracy
- Streamlined internal communications
Watch this video to see how CRM helps you keep track of everything about your customers and your potential customers so you can build great relationships with them.
If you are looking to improve the efficiency of your business and increase sales, a CRM solution is the place to start. You will enjoy having a centralized database for customer information that is easily accessible to whoever needs that information.
CRM Speeds Up Sales Cycle
One of the most significant benefits of a CRM system for manufacturers is how it speeds up the sales cycle. CRM will prioritize your leads, so you focus on the customers who are most likely ready to buy. Then, with quick access to all customer data in a single location, you won’t waste time digging through customer files to find information. These two benefits alone should offer a remarkably faster sales cycle.
Explore CRM Possibilities with Shanahan Strategy
The benefits of CRM are clear. With a more efficient customer relationship strategy, your sales cycle should start to shorten. If you are ready to improve the way you manage your customers and increase the efficiency of your sales team. Shanahan Strategy can help. We can create a marketing roadmap for your manufacturing business that is customized to your needs and industry and works with a CRM.
Ready to explore the possibilities of a CRM and marketing strategy? Request your free consultation with Shanahan Strategy today.