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CRM: What is it?
Businesses looking to elevate their customer engagement game should invest in customer relationship management (CRM) software.
At its core, CRM is the source of truth for businesses. It helps companies manage and streamline their relationships with customers and prospects.
By storing and tracking customer data, including lead and business opportunities, communication logs, and support requests, businesses can use CRM to tailor their marketing, sales, and customer service efforts to each individual’s needs.
A CRM is the backbone of modern business success. If you want to take your customer relationships to the next level, CRM is crucial to how fast-growing businesses operate.
Why Rethinking the CRM is Necessary.
But here’s the thing: the CRM is changing, and it’s changing quickly.
Today, companies want a CRM that accelerates sales, is enthusiastically embraced and provides a solid ROI. And they want it to be cost-effective.
It’s why rethinking your CRM strategy has become crucial for driving revenue growth and outperforming the competition.
A study by Nucleus Research found that companies using a mobile CRM achieve 65% of their sales quotes. Meanwhile, only 22% of reps using a non-mobile CRM reached the same targets.
It demonstrates the benefits of investing in a modern, sales-focused CRM that can keep up with today’s fast-paced business environment.
While Salesforce and other platforms are CRM leaders, many businesses are starting to recognize their limitations. There is the high cost of subscription fees, a complex pricing model, and a low user adoption rate.
To stay competitive, companies must evaluate their CRM options based on pricing, implementation costs, customization options, and ongoing support and maintenance. With a wider range of pricing models and packages, businesses can find a CRM that meets their specific needs and budget.
As the CRM market continues to grow and evolve, it’s clear that the future belongs to those who can embrace the new era and rethink their CRM strategies.
With projected revenues set to reach over $80 billion by 2025, now is the time to invest in a modern, sales-focused CRM that can help you outperform the competition and drive growth.
What should you be asking when looking at CRMs
As companies look to rethink their CRM strategy to leverage technology that can accelerate sales and drive growth, Many questions can arise.
Solutions like Wingmatre are attracting the spotlight because they are sales-focused CRMs that can effectively streamline sales and drive growth.
Wingmate is leading the charge by taking a bold and new approach to sales and rethinking the CRM.
A core belief at Wingmate is making sales and service a team sport – an often overlooked ideology. Wingmate proves companies can generate incremental revenue, offset operational costs, and deepen customer relationships by involving operational staff in sales.
This approach to CRM sets Wingmate apart from its competitors.
Rather than focusing solely on sales teams, Wingmate recognizes the importance of involving other departments, such as customer service and operations.
This approach creates a more holistic understanding of the customer journey, resulting in a better customer experience and increased revenue.
Choosing a CRM is not just about ideology. With so many CRMs, businesses must ask themselves, “Why switch to a new CRM?”. The answer lies in the unique features and benefits that a CRM can offer a business.
What are the different types of CRMs?
CRM platforms come with different functionalities. Some focus on operational processes, some on analytical insights, and others on collaborative teamwork, while some platforms like Wingmate combine all three elements for a comprehensive approach.
Operational CRMs track customer data, including contact information, sales opportunities, and marketing campaigns. They serve as the central repository for customer information, allowing businesses to access it easily and quickly.
Analytical CRMs go beyond data management by generating insights from customer data. These insights may include customer segmentation and marketing return on investment (ROI). Analytical CRMs help businesses identify trends, opportunities, and challenges in their customer relationships.
Collaborative CRMs enhance teamwork among marketing, sales, and operations teams. They facilitate communication and collaboration between different departments, ensuring that everyone is on the same page regarding customer information, interactions, and activities. In addition, collaborative CRMs enable cross-functional decision-making, resulting in better customer experiences and outcomes.
What should you look for in a CRM system?
Numerous CRM tools are available in the market, each with unique features. Here are some crucial factors to consider when selecting a CRM:
- Lead capture capabilities
- Seamless integration with existing systems
- Workflow automation and marketing automation to streamline processes and enhance customer engagement
- Comprehensive lead, opportunity, and pipeline management for tracking and nurturing potential clients
- Ease of use and scalability to accommodate team members and business growth
- Reporting, analytics, and sales forecasting to gain insights and plan for the future
- Contact management and efficient communication tools
- Quote, invoicing, and campaign management for streamlined transactions.
- Efficient data synchronization and lead capture
What are some signs that a business needs to invest in a CRM?
- Your business needs help to manage and organize customer data.
- Your sales team spends too much time on administrative tasks in a current CRM or without CRM, such as manual data entry and follow-up.
- Your business needs to improve communication between departments.
- Your business faces customer complaints and negative feedback, indicating a need for improved customer experience.
- You can’t capture leads in real-time.
- Your business is growing, and you need a scalable solution to manage the increasing number of leads and customers.
Not all CRMs are created equal.
Salesforce, for example, is one of the most widely used and popular CRMs in the market. But it can be expensive and complex to scale.
Salesforce pricing uses a subscription model, with different tiers of service and features offered at various price points. It may seem straightforward initially, but businesses can quickly face unexpected costs as they require more advanced features or additional user licenses.
The Most Important Question: Budget!
What are you willing to pay for a CRM?
Modern CRMs are designed with a reimagined approach that prioritizes the organization’s growth and returns on investment (ROI)
But a CRM should NOT necessarily be expensive. An overly complicated CRM system that requires extensive training can lead to low adoption rates.
Gone are the days when CRM systems only managed customer data. Modern CRMs have a range of functionalities that help businesses streamline their processes, increase efficiency, and, ultimately, drive growth.
If you are budgeting for a CRM, it is important to assess its long-term value. A CRM can help improve customer retention, increase sales, and enhance customer satisfaction.
There must be a balance between the costs and potential benefits.
That perfect balance exists with Wingmate.
Wingmate is CRM Reimagined
Wingmate is easy to use and has many sales acceleration features like lead capture, automated reporting and streamlined data entry.
Being budget-friendly is one of Wingmate’s key advantages.
Unlike many CRMs that can be bloated and expensive, Wingmate is a cost-effective solution that doesn’t sacrifice functionality or user experience.
Its intuitive interface and mobile app make it easy for sales and operation teams to capture and manage lead data on the go. It allows them to spend more time on high-value activities like driving revenue growth and better customer service.
The Wingmate CRM has high adoption and usage rates, and our team-based approach to sales also aligns with the move toward collaboration and teamwork among sales teams. Our CRM enables sales and operations teams to work together more effectively by sharing information and leveraging each other’s strengths.
Wingmate is rethinking the CRM by placing the needs of businesses at the center of its design, optimizing sales workflows, and promoting collaboration among teams.
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