In this blog, you can understand and implement the top 5 ways to close more deals with CRM software. We know that business is all about relationships. But dealing with multiple people requires keeping track of countless interactions. And all these interactions can occur at different stages of the sales pipeline.
It’s a challenge that many businesses face. And this is why more and more companies are turning to SuiteCRM software. Opensource CRM can be one of your most valuable assets.
In fact, a study by Forbes and Brain shark last year found that 55% of top-performing companies are now investing in sales enablement technology like SuiteCRM software
Let’s get started:
- Spend less time entering data:
Perhaps CRM software’s greatest ability — from the perspective of salespeople who want to spend more time working with prospective customers and less time on menial tasks — is its aptitude for automated data entry.
Rather than manually reporting every lead captured at a trade show or through webinar signups, CRM software with built-in web forms and list importing tools can record that data automatically. This gives your sales team more time to work directly with customers and nudge them towards a sale. It also improves your ability to quickly follow-up with leads.
- Get your timing down:
Timing can often make the difference between closing a deal and losing a deal. Knowing where a potential buyer stands in relation to a final sale should influence when and how you engage them. Some prospects will only be interested in gathering information and comparing options, while others are ready to get a price quote and iron out a contract. It’s a delicate balance.
CRM software can keep your reps from being too eager or waiting too long to develop a lead. By illustrating the sales pipeline and showing a prospective customer’s place on it, your team will know whether or not it is time to engage. With most platforms, you can create custom stages based on level of qualifications such as inquiry, lead, Marketing Qualified Lead (MQL), Sales Qualified Lead (SQL) and opportunity.
- Use analytics to improve your strategy:
CRM software isn’t just used to store customer information. It’s also an advanced reporting tool that sales teams can use to track sales performance and adjust their tactics, when necessary. Most CRM solutions come with a variety of built-in reports, which may include:
- Profitability and revenue
- Financial forecasting
- Sales cycle reports
- Win/loss reports
- Progress to goal
By keeping an eye on these metrics, you can isolate weaknesses and bottlenecks in your sales process. For example, your incoming MQL volume is high, but your conversion rate to SQLs is low. This could be time for a conversation between sales and marketing about lead nurturing strategies and marketers can use these analytical tools to track their attributed revenue and see which marketing campaigns generate the newest customers.
- Know your buyers’ needs:
Intuition can only take a salesperson so far. CRM software can show you not only when a customer is ready to buy, but also the best way to engage them. This is especially true when your CRM is integrated with a marketing automation platform: metrics collected during the pre-sale stages can help your reps deploy their skills more strategically to close a deal.
This data can provide insight about where a prospect sits in the sales pipeline, what channel they came from, what materials they have read or downloaded, and which techniques (such as science-based selling) have or have not been successful in the past.
- Build better relationships with customers:
CRM software is a highly-effective tool for improving relationships between your company and its customers. Although the business world has grown increasingly digital, people will always be inclined to buy from a company that they know, and that knows them.
As American Express reports, “Three out of four consumers say they have spent more with a company because of a history of positive customer service experiences,” whereas over half of consumers “intended to conduct a business transaction or make a purchase, but decided not to due to a poor service experience.”
Understanding your customers, knowing when a prospect is ready to close, and giving sales teams enough data to make intelligent decisions are keys to effective selling. The right Free CRM platform will support all three of these.
With years of experience in sales, marketing and customer support automation, Fynsis is the most preferred SuiteCRM training & development Partner always aims to meet your budget while delivering a measurable ROI on your CRM Investment. We create best-in-class business solutions that deliver competitive edge and ROI, with power and flexibility.