It is a fact that CRM software helps to make a business more profitable and kick start stagnant sales. This is done by increasing sales and cutting on expenditure. With CRM, you can get real-time feedback from your clients, track and nurture your sales leads, increase conversion rates and respond to your customers quickly. All these help your business increase productivity and maximise sales. However, that’s not all. While helping your business increase revenues, CRM also helps you cut business expenses. Read on to find out how it reduces costs for your business.
Reduce customer acquisition costs
There are many reasons why businesses need CRM software. And one of them is that it helps to reduce customer acquisition cost. Customer acquisition refers to gaining new customers. Usually, it takes a lot of time and effort to win new customers. For instance, for customer acquisition, you may need to:
- Send emails, reminders, and newsletters to your prospective customers
- Run expensive marketing campaigns and meetings
- Spend time and effort on cold calling and face-to-face consultation
CRM software makes customer acquisition easier and more organised, thanks to features like real-time monitoring and analytics tools that help gain insight into customer’s buying behaviours quickly and cost-effectively.
CRM also contributes in achieving better customer retention rates. QuickDesk’s CRM software comes with advanced features such as DNC filtering, real-time calling, auto dialling, recorded history and automated activity tracker – all of which help in the process of acquiring new customers. Not forgetting, CRM system also helps in your content marketing efforts!
Cut costs by revamping your sales process
CRM also restructures your sales process to increase revenue. With CRM, your staff will not need to keep track of leads, schedule appointments, and manage orders manually. CRM software helps book appointments, set reminders and display unfinished tasks on a priority basis. As a result, your productivity improves, and you can avoid income losses as well. As CRM software helps you schedule and organise your tasks, there is almost no chance of missing out on important ones. Plus, you get more time to focus on customer acquisition. Simplified CRM such as QuickDesk lets you streamline quotations and invoices by creating reusable templates and adding items like items, taxes and fees.
Reduce your travel expenses
Typically, field sales executives bring up more clients than in-store sales representatives. However, now you can reverse the situation and save on the travel costs of your field representatives. CRM software helps in-store sales representatives establish a strong rapport with customers and even acquire new ones from their recommendations. Thus, you do not have to depend only on your field representatives to obtain new customers.
No more misplaced invoices
Misplaced invoices often lead to massive financial losses for businesses. CRM systems can flag all misplaced invoices for you to follow-up immediately. Digital invoices also save you the trouble of manual invoicing. Paper invoices are labour intensive and take up too much time. With CRM, you can save on printing material as well. Another challenge of using manual invoicing is that they are prone to errors. With CRM software, you can save both time and money on invoicing.
Reduces costs with email integration
Effort translates into money and businesses should focus on channelling it in the right direction. Using any good CRM software, like QuickDesk, you can communicate seamlessly on email even as you chat or call your customers. Updating lead data with Gmail is easy. You can simply access your emails and share them with the rest of the team over the mobile app. These emails can also be referenced quickly while you’re still on a call.