Wouldn’t you say that a single company claiming as much as a 19.8% share of the global CRM market is a big deal? If you do, then you’d be right because Salesforce has done just that in the 2021 fiscal year!
Salesforce CRM is, arguably, one of the most popular CRM systems today. After all, it is rare for a CRM system to double up as a relationship management tool apart from doing what it’s meant to do; which is:
- Manage your customer data
- Give you a 360-degree view of the interactions and relationships customers have with your business
- Constantly update you on customers’ most important information, so you don’t miss anything
Salesforce CRM goes several steps further to help you build a customized and engaging customer journey – something that satisfies and delights your customers. You find yourself successfully building strong relationships with your customers and maintaining them in the best way, leading to improved business performance and growth. This is how.
6 steps to maximum your business growth with Salesforce CRM
For the purposes of this conversation, let’s assume you have already opted for, and implemented, Salesforce CRM. And now, you’d like to understand the specifics of the advantages you stand to gain and the extent of these advantages – both being my goals behind writing this blog. So here goes:
1. Enhanced business performance through:
- Improved sales efficiency – Salesforce CRM prioritizes leads and opportunities with the highest likelihood of conversion and closes these deals quickly based on your interactions with these customers.
- Increased opportunities for upselling and cross-selling – Salesforce CRM also allows you to view every add-on opportunity there is that’s a good fit for already-in-progress deals.
- Tapping into referral business – Salesforce CRM brings to the forefront not-yet-leveraged opportunities in existing customer relationships instead of merely paying for dead-end leads or wasting time in cold calling.
- Reduced time to close deals – Salesforce CRM instantly aligns your team on further course of action while closing a deal by giving you a 360-degree view of your customer.
2. Lower cost of sales
Studies suggest the probability of selling to a new prospect is 5% to 20% while that of selling to an existing customer is 60% to 70%. Numbers that validate the difficulty companies face in garnering new customers. Although a key ingredient of continued growth, bringing new customers in is an expensive affair. However, new customer acquisition costs can be offset by cross-selling, upselling and renewing opportunities with your existing customer base. The trust you’ve already earned with your existing customers gives you greater visibility into your customer portfolio, leading to an increase in repeatable sales.
3. Greater flexibility
Salesforce CRM gives you flexibility to expand with other clouds and applications and makes changes easily; as and when you grow and develop new, more demanding needs.
4. Better customer service
Research shows 55% of consumers are willing to pay more for a better customer experience. Clearly, even the best product is only as good as the service that accompanies it — both before and after the sale. It is essential for your entire team to have immediate access to customers’ entire histories for them to quickly provide personalized solutions and communication. Trust gets built and repeat business is encouraged.
5. Improve customer retention
According to a Harvard Business Review report, a mere 5% reduction in your customer defection rate can increase profits by 25% to 85%. Going by this statistic, it’s a smart idea to implement the Salesforce CRM and get a transparent view of your customers’ histories, active campaigns and/ or open cases so you can:
- Proactively address problems in at-risk customer accounts
- Offer delightful purchase and service experiences to keep customers coming back to you for repeat business
- Provide customers with new, untapped opportunities at the most opportune time
Personal advice - Strong customer relationships pay dividends for years to come. Invest your time and money wisely while selecting the correct CRM system for yourself.
6. Improve customer retention
Salesforce CRM effortlessly automates functions across your sales, service and marketing functions to free your employees from time-consuming, process-heavy manual customer-related operations. Your teams get to channel this newfound time in interacting with prospects and strengthening relationships with existing customers, bringing in new business for you to keep growing.
How does Columbus maximize your growth through Salesforce CRM?
As a Salesforce Partner, Columbus offers services and support for various cloud-based applications on the Salesforce platform, including:
- Sales Cloud
- Service Cloud
- Field Service
Please click here for a detailed description of what we do and how we do it.