CRM software is supposed to assist your company in improving the way it functions when it comes to sales, customer satisfaction, and services offered. However, once you have signed up for a CRM and integrated the software into your business, you need to determine whether it is working for you and making the improvements you desire. In this article, we will discuss how you can determine whether the CRM you have chosen to implement is successful or not.
What Does Customer Relationship Software Offer?
Customer Relationship Management (CRM) software assists a company in managing leads and allows them to simplify and improve its sales process. It does this by storing leads and notifying the sales team of a new lead as it comes in. Depending on the company’s structure, a CRM will also be able to distribute leads to the salesperson best qualified to handle a specific lead and their interest. A CRM will also remind salespeople of a lead if it was not responded to in time, which will increase a company’s response time. Salespeople can also change the status of a lead as they travel through the sales process and can leave client-specific notes so that other employees already have valuable information when the client reaches them further down the pipeline. While a CRM is there to serve the company, it allows for the company to have a customer-centric approach. This will increase sales and customer retention which will allow a company to flourish and grow.
How to Measure a CRM’s Success
Once you have implemented a CRM within your company, it is important to consistently measure whether it is successful or not. There are many ways that one can measure this success including:
- Adoption Rate: It is all good and well to buy a licence for and implement a CRM; however, if employees are not making use of this software, it will have little to no impact. It is therefore important to measure the adoption rate of CRM within a company. How many employees are effectively making use of the software and are incorporating it into their processes?
- Customer Retention: A comprehensive CRM should show signs of increased customer satisfaction and retention fairly quickly. Measuring customer retention rates and comparing them to previous years will indicate whether a CRM is helping improve customer experience and loyalty.
- Sales Growth: As a CRM is supposed to simplify a sales process and increase response times to leads, there should be a marked increase in sales. It is therefore important to ensure that a CRM is helping the sales team in their tasks. If there is no increase, it should be investigated whether the processes being utilised are effective.
- Customer Service Metrics: There are multiple metrics which can measure the effectiveness of a company’s customer service. Some of these metrics include response time to queries, resolution time, and more. An effective CRM should have an immediate effect on these systems and improve them.
- Return On Investment: Ultimately, implementing a CRM should make sense financially. Therefore, it is important to measure the ROI. All you have to do is compare the cost of the software to the value it provides to the company. This will inform whether or not the CRM is working for the company.
CRM Software That Offers Great Results
Leadtrekker is a South African CRM that specialises in managing leads, simplifying the sales process and increasing customer satisfaction. Whether for a marketing agency managing the success of its campaigns, or a business wanting to increase sales and customer retention, Leadtrekker can help you achieve your business goals. Leadtrekker is also flexible, ensuring that it can slot into your current sales process that already works.
Contact the Leadtrekker team to find out more about the multitude of CRM software features and benefits we can offer your company.