Customer Relationship Management software (CRM systems) are among the most popular business management solutions lately with the interest towards them significantly rising during 2020 and the beginning of this year and there is nothing strange about that. The unexpected changes the global pandemic caused and the rising customer demands forced companies from different fields of the economy to search for a tool to help them optimize their sales.
Latest research shows that the CRM market is already leading by profits worldwide and is expected to keep on rising with 14.2% annually for the period 2021-2027 (AI Market Research) while reaching the astounding 80 billion dollars in 2025 (SuperOffice).
The integrated artificial intelligence (AI), high level of automation, mobility and flexible integration with other software solutions are among the main traits, which characterize modern CRM solutions and make them the right tool business needs in this situation.
AI helps sales teams close deals faster and easier
Artificial intelligence is widely used across many business management solutions, CRM systems included. AI increases sales teams’ efficiency and helps them develop and maintain profitable relationships.
Well-cared-for and loyal customers
Solutions like Microsoft Dynamics 365 Sales leverage artificial intelligence to help determine the quality of relationships with each customer and even give hints of how they can be improved. Smart algorithms collect and processes data from various sources to evaluate indicators such as communication quality, time spent on each customer, customer engagement with mails and many more in order to assess the quality of the relationships with the client. This is of great value to sales specialists that can figure out with one glimpse which clients need additional attention and how to warm them up.
Precise sales forecasts
Smart algorithms inside CRM are a powerful tool bringing great precision to sales forecasts. Using all the data in the CRM solution as well as other sources the artificial intelligence technologies are able to rate every single lead or prospect and the likelihood of turning those into a successful deal.
Intelligent machine algorithms save busy sales teams a lot of time and effort. They help them prioritize their tasks and focus their efforts on the deals with higher chances for success. This helps companies close more deals faster and act just when it is needed to win customers’ trust and loyalty.
Mobile solutions bring information at the tips of sales specialists at all time
Even in the current strange situation of social distancing and remote working, sales teams continue to be extremely mobile. The key to their success is to always have access to customer information, which could give them competitive advantage.
Modern cloud-based CRM solutions are exactly what sales teams need. They give comprehensive 360-degree view over the needs and specifics of each customer as well as a complete history of past communication with them, available all the time on every devise.
Automated business processes save time and boost productivity
Routine repetitive tasks, such as entering or searching for information, creating reports, etc., often take up too much of the sales specialists’ time. Modern CRM systems include many useful functionalities to help automate these processes, such as:
- Intelligent alarms for upcoming events and tasks, scheduled calls or meetings, approaching deadlines, etc.;
- Tools to monitor customer engagement with mails and content directly within the CRM solution;
- Automated generation of sales reports based on preset parameters;
- Automated information entry by transformation of emails from new and existing customers, business cards scanning and more.
Predefined good sales practices help guide each step of the sales process
Modern CRM solutions allow for unifying the sales process of the company and applying of the best sales practices. Each company is able to model within the system their own sales processes and steps in accordance with the specifics of their business. These predefined processes help guide sales teams at each stage and guarantee best results. The system monitors the implementation of each stage and reminds users what they still need to do before moving onward or what are the most appropriate next steps based on the stage they have reached. The CRM solutions support different types of pre-designed sales processes, which take into account the specifics of different sales departments, types of customers or specifics of the offered products and services.
Rich analytical information helps quick and flexible adaptation to changes
Besides providing deep insights about customers’ needs and expectations, CRM solutions are a “gold mine” when it comes to useful information regarding the whole sales process. Integrated within the CRM solutions analytics tools give managers detailed insights regarding closed deals, prospects at different stages of the pipeline, engagements with key clients and quality of relationships, results of different sales teams and individuals, options for optimization and much more. These insides help the operational management as well as the strategic management and overall optimization of the sales.
Modern CRM solutions are no longer simply record of the communication companies have with their clients. They are constantly enriched with new and sophisticated tools that support sales teams, help them identify new customers and opportunities and overall improve the company’s sales results. In today’s complex and dynamically changing environment, CRM systems are what a company needs to stand out from its competitors and achieve market success.
If you want to learn more about the benefits of modern CRM solutions and see for yourself how Microsoft Dynamics 365 Sales can help boost your sales, don’t hesitate to contact us.