5 Benefits of Using CRM for your Business
Becoming a successful entrepreneur or business owner is not just about sales but also retaining the customer base. Going through the clientele of some of the major real estate companies you will find that many boasts of a steady client base. While new leads are essential in terms of growth, the old ones re where you will find the certificate of quality. It is these old clients whose presence impacts new leads and potential new clients. The success of any business lies in the ability of the Marketing and Sales team. While both these teams are separate, the core of their job is synonymous with each other – create leads and maintain those leads. And this is especially true in sectors like real estate.
How to generate new customers with CRM?
Whether you are in a B2B industry or retail to general public, having a database of potential clients is essential. Market research, studying the current trend, predicting possible future trends and opting for the best line of action is the methodology that is applied. Previously it was human managed but errors and miscalculations were a part of this process.
Speed too was compromised as humans do need to rest. With AI in the equation this process became not only smoother and faster but also accurate with zero error. Business did well but with the advent of an expansion the maintaining of the database does become a cumbersome task. Miscommunication between the two teams of Marketing and Sales also causes major setbacks. To avoid all these, CRM companies like IXACT Contact helps businesses to maintain and update their database.
The main task of this CRM or Customer Relationship Management is exactly as the name suggests – managing the relationship between customers and businesses to ensure that old clients are maintained and new ones are generated. This smart assistant helps you understand the current need of the market via studying the trend and the demographics of your old customers in order to create a pattern and generate leads accordingly. To state an example, the IXACT Contact CRM is mainly for maintaining real estate contacts and database. Hence, with this software, the Marketing team can research about the requirements that led to the sales of their previous properties which leads them to understand the mentality of the current home buyers.
Keeping this in mind they are provided a list of prospective leads. These leads are nurtured by the Marketing team via emails and promotional offers. The Marketing team nurtures the leads and with the CRM help manages to have a greater success rate. Once this conversion is achieved, the ball is sent to the Sales team’s court. It is the job of the Sales team to close on the deal and provide after sale services.
Here things do get tricky. Managing an extensive contact base of customers and clients not only does the Sales team have to manage new clients but also follow up with older ones. Confusions will be given. But with CRM software like IXACT Contact that helps manage the contact base this hurdle can be easily overcome. Setting reminders for meetings, keeping new and old separated, generating an automated reply in response to any chat or email from clients helps maintain a healthy business relationship.
Benefits of using CRM
Statistics have shown that businesses that utilize CRM have seen an increase of about 26% in their businesses as compared to gong about without CRM. Testimonies and reviews from clients and customers are crucial to expanding your business but retention is even more essential. Especially if you are in a B2B industry, where long term investments are counted in terms of reliability and strength of the clientele of the company. Whether you are in real estate or development, your client base will be the very first impression. To ensure that your clients stay, using CRM will be the best line of action. While there are many benefits of utilizing the help of CRM software, 5 most basic yet important benefits are:
- Understanding customers – old customers are essential in terms of profit as you know their requirements better and can deliver promptly. But to reach that level you need to interact with the customers and not just verbally but also keep a lookout for their interests. If you are in a real estate B2B then being the developer of commercial and residential properties of promoters you need to keep track of their core belief and ideas. While the clients can easily know everything about the company via their website, the reverse is a bit tricky. CRM helps the company to understand their clients better via reports generated by the AI about the interest of the clients.
- Bettering internal communication – with a centralized database which can be accessed by all the department will help minimize miscommunication and keep everyone up to date about their clientele. This way even if one member who has not been actively engaged in a particular deal can assist the client on those deal because the particulars of that deal will be available to them. This system is especially beneficial to alleviate the tension between Marketing and Sales teams. Working as a unit improves the overall growth of the company.
- Automated tasks – generating leads to converting to a client the journey is not easy. From sending informational emails to inviting to webinars and addressing the leads in a personalized way so that it maintains the professional decorum is not easy. CRM helps in making sure that the Marketing team can engage with the leads via scheduled emails of the matter created keeping the clients’ interest in mind.
- Customer satisfaction – time is valuable and clients are often impatient. While they are dealing with just one company, the main company has to deal with multiple clients and a miscommunication on the company’s part often turns negative. Utilizing CRM for the initial answering step helps the company understand the issue better by analyzing the answers to the questions provided by their clients.
- Increased efficiency – AI seldom makes a mistake and CRM is based on deep sense, machine learning and AI. This means that the collection of data is a constant process without error or chances of incompletion. This comprehensive data is then compressed in reports that are sent to the respective departments.
Businesses that utilize CRM reports greater success as compared to those who do not. Whether it is a B2B or a B2C company, client satisfaction is essential for growth and new businesses. Companies like IXACT Contact deals solely with real estate as their database is curated in such a manner. CRM helps condense the vast data to what is essential to the business of their company.
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