The most important and perhaps the most challenging part of running any business is to get clients. And clients are captured with the help of data, knowing who wants what helps businesses hit the right spot of their potential customers.
A B2B CRM solution can help businesses do just that. It can help you make more data-driven decisions, improve your marketing and sales campaigns, and help you optimize your funnels better.
However, the B2B CRM solutions should be programmed by a software development firm to fit your particular needs instead of using a clone system that many businesses are already using.
So What’s B2B CRM Anyway?
Short for Customer Relationship Management, CRM is all about the ‘customers come first’ approach. It is a management strategy where data is collected in order to better understand customers’ needs and provide them with maximum value. Furthermore, it allows businesses to know exactly what their customers want, which means they can upsell their products and ultimately increase their revenue.
There are many B2B CRM software solutions that can help the sales team collect heaps of data from different communication channels where they interact with their clients and then analyze it. All of this data is stored in the company’s database and can be accessed by the sales and marketing teams for their existing and upcoming campaigns.
Furthermore, B2B CRM is also about nurturing your relationship with your clients. You can stay in touch with them from time to time, help them out whenever you can, offer discounts or freebies, and earn their loyalty.
Why Your Business Needs CRM?
The basic idea behind any sales cycle/funnel is to take the customer through the journey of several steps, starting from increasing brand awareness and then ultimately making the sale. Do you know that for every dollar spend on CRM, $8.71 is earned back? (Source)
Although it can be a very challenging process, with the help of CRM software solutions, you can find out what a particular set of customers need at a specific stage. This makes things easier. Here are a few core advantages of using B2B CRM:
Highly Targeted Campaigns:
The launching of any marketing campaign is already pretty tough, but what if you need to run more than one of them? What if you sell three types of soaps; Beauty Soap, Antibacterial Soap, and Acne Soap, and you need to promote them at once? The target market for all three of them will be different, right?
So how will you keep track of potential client data, and who needs which soap? This is where B2B CRM software will help you. By collecting, analyzing, and organizing data of different types of customers via your multiple communication channels, it will help your sales team keep track of who is who and what is what.
Once you have concluded a marketing campaign, how will you find out if it was a success? Well, that is where CRM will help you out as well. It will analyze the data of all your sales campaigns and will provide you with detailed reports and insights on things like:
- Which campaign yielded the highest ROI?
- Anticipation of sales for next quarter
- What are the best and most qualitative leads?
- Which of your actions impacted the sales decision of lead?
And so on. Well-developed CRM software usually has a dashboard where all of this information can be accessed with just a few clicks.
You Can Make More Data-Driving Decisions:
As discussed above, you will be provided with tons of insights regarding how your campaigns when and also which leads are the best. It can even rank leads and give them scores based on how they performed.
So the next time, when you are creating another campaign, you can use this data to better prepare yourself, and instead of wasting time on unimportant leads, you can follow quality ones. This can help you turn your sales funnel into a money-making machine.
Makes Marketing and Sales Departments Collaborate:
The two hands of any business that help it collect the profits are the sales and marketing departments. However, in many business environments, they are not directly working together, which can compromise the company’s potential to reach more potential clients and nurture the relationship with the existing ones.
With the help of the CRM system, you can align both of these departments as all the data from both sides will be fed inside the CRM software. So whenever any department needs to know something about a campaign or a lead, they can just access the data from a dashboard.
Over to You:
Make sure to hire a professional software development firm to make you a customized system of B2B CRM based on your needs and the marketing channels you use to interact with your customers.
It will not only make it a piece of cake for clients to reach you whenever they want, but your sales and marketing teams will be able to make better data-driven decisions.