Chapter 1
6 Strategies for Maximising ROI with Cost-Saving CRM
1. Unlocking the Power of Salesforce CRM to Identify High-Value Customers.
“Without a CRM system, 79% of all marketing leads are never converted to sales.”
Source: Salesforce Relationship Survey conducted 2014–2016 among 10,500+ customers randomly selected. Response sizes per question vary.
2. Deliver Better ROI through Sustainable Relationships.
“Forty-six percent of sales leaders say deeper customer relationships are a key objective for sustaining success.”
Develop a deep understanding of a customer’s business — beginning with a complete view of their history with your company — and you’ll build a strong relationship founded on trust and mutual success. A CRM system can help an organisation:
Explore their challenges: Find out what matters to your customers — their goals, challenges, and preferences — at the end of every exchange and make sure you have a follow-up action. Record these notes in your CRM system so next time you can pick up exactly where you left off with a quick review.
Engage with relevancy: After you understand a customer's business challenges and goals you can recommend appropriate products or special promotions, or other content that's relevant to their business interests, at the right time. With CRM, you'll also know what they've purchased and how they're using your products or services, so you can provide the most relevant content and information.
Scale your 1-to-1 relationships: As a small (but mighty) business, your customers love you for the personal experiences you provide; but it becomes more challenging to know the details of each and every customer — and when to follow up with them — when high growth kicks in. A CRM platform can host email templates, set up task reminders, and enable phone calls to help you connect with customers faster and easier.
3. Maximising Sales Efficiency and Reducing Costs with Salesforce CRM Technology.
“The probability of selling to a new prospect is 5%–20%. The probability of selling to an existing customer is 60%–70%.”
Source: Salesforce Relationship Survey conducted 2014–2016 among 10,500+ customers randomly selected. Response sizes per question vary.
A CRM system can help you improve business performance by:
- Improving sales efficiency: Prioritise leads and opportunities that are highly likely to convert and close based on customer interactions with your company.
- Boosting sales effectiveness: Know which customers are engaged and the right time to reach out for optimal response.
- Increasing upsell and cross-sell opportunities: See all the opportunities that are a good fit for add-on deals already in progress.
- Uncovering referral business: Find untapped opportunities in existing relationships instead of paying for dead-end leads or wasting time cold calling.
- Reducing time to close: Instantly align your team on the next steps to close a deal when you have a 360-degree view of your customer.
4. Increase employee productivity.
“Fifty-two percent of high-performing salespeople identified themselves as power users who take full advantage of their companies’ CRM technology.”
5. Offer better customer service.
“Fifty-five percent of consumers would pay more for a better customer experience. ”
Source: Salesforce Relationship Survey conducted 2014–2016 among 10,500+ customers randomly selected. Response sizes per question vary.
6. Improving customer retention through the power of successful value proposition.
“A 5% reduction in your customer defection rate can increase profits 25%–85%.”