CRM is Critical to Effective Revenue Optimization
Effective revenue optimization means that your business is doing everything possible to increase revenue. It starts with thoroughly analyzing your data – sales, marketing, customer experience, etc. Then moves to a rollout of new tactics and strategies based on the improvements identified during the discovery.
The idea is that your team pulls out all the stops to bring more money in the door. The responsibility doesn’t just fall on the sales team; it’s an approach that should include all functional departments.
The CRM Factor
Customer Relationship Management (CRM) originated from the need to store information on potential and current customers. For the most part, it was a glorified spreadsheet that the sales team primarily used. While customer data storage is still one of its principal purposes, the technology has evolved to accomplish much more. Modern CRM systems can break down information silos, connect departments, and provide real-time reports on customer trends. It’s a tool that lives at the center of your organization, which every team member can access and leverage. CRM is a crucial component for revenue growth when implemented and managed effectively.
Your CRM should fit like a bespoke suit; it must fulfill your operational requirements and complement your organizational value propositions. Nowadays, how a company provides a product or service is more important than what it sells or provides. So, it’s helpful to customize your CRM system to fit your unique processes and workflows. These are a few attributes that we look for in an effective CRM system:
You should be able to integrate the essential applications your company relies on with your CRM. Connecting your applications saves countless hours of toggling back and forth and provides comprehensive real-time reporting efficiently, among other benefits.
We like to think of the CRM as the hub of the technology system, with other technology, like your marketing automation platform and sales enablement systems, acting as the spokes of a wheel.
Easy to use
Ideally, a CRM streamlines your business processes and presents a clear path for selling your products and services while managing daily operations. However, the system’s efficacy largely depends on its setup and the functions applied. Underutilization will be counterproductive, so you should take advantage of as many of the system’s features as necessary.
Your CRM should facilitate a way to administer the system efficiently. Managing users and privileges should be relatively easy. In addition, automating processes should be a fundamental function of the system. Data validation rules and other advanced security features would also be helpful.
Choosing a CRM
Whether you’re finally deciding to move off of Google Sheets or just looking to expand or upgrade your CRM technology, you must consider these factors during your decision process:
Scalability is an important consideration where technology is concerned. You not only need to think about your present circumstances but your future plans as well. And growth applies to both business sales and users. Ideally, your selected CRM system will expand and evolve with the business.
Obviously, a robust CRM system can be costly, but hopefully, the returns make the investment worthwhile. Usually, the more advanced functions, automation capabilities, and native integrations the system offers, the more you will pay. In addition to the software costs, there will likely be startup and development costs to migrate and implement existing data and frameworks.
Make sure the tool you choose fits your current process. Getting caught up in all the upgrades and integrations is easy, but you’ll just be frustrated and upset if you don’t use them. It’s best to start simple, satisfy current needs, and build from there.
Effectively Optimize Your Revenue
Effective revenue optimization is crucial for growth and business sustainability. With that comes the need for a CRM tailored to your unique needs. Hopefully, the above points encourage your team to look intensely at your current tech stack and provide you with some tools to start thinking about the next phase of CRM development or how to evaluate a potential change for your organization properly. When done correctly, a well-implemented CRM system will be the lynchpin to help your organization make data-driven decisions and help you optimize your revenue.
Revenue Ops LLC is an experienced team of sales, marketing, and customer success professionals committed to helping clients improve performance. The ultimate goal is to streamline workflows so our clients can make data-driven decisions that maximize revenue. We apply our deep knowledge of CRM systems like Salesforce and sales enablement tools like Salesloft to optimize sales potential by stimulating and tracking customer interactions.
Are you looking for some help and guidance through this process? Our certified consultants are ready to talk with you!