In business, you’re always looking for ways to cut costs and increase income.
But when those cost-saving / income-increasing methods require a monetary investment, it can be hard to justify putting money down.
This is a big issue when discussing the topic of CRM because it’s still hard for a lot of people to understand what the true value of CRM is and why they need it.
Everyone knows it can help holding contacts and getting access to them later on, but what do you stand to gain?
But what do the numbers really say?
The Return For Every $1 Spent On CRM Is $5.60
Maybe one more time.
That’s pretty darn good, and that’s an average, meaning you could potentially get a lot more out of your CRM than that.
Imagine for just one moment that you’re going to the grocery store, and next to the coin-operated horse, the stuffed animal claw, and the out-of-order CoinStar machine you see a different machine.
The machine is labeled CRM, interestingly enough standing for, “Cash, Reward, Money”. A lone dollar bill slot beckons you to pull that solemn bank note from the solitary confines of your wallet and slide it ever so gently into the LED-lit slot.
You slide it in, hearing the sound of the machine whir and clack as you wait for what comes next.
Suddenly, the machine spits out a series of bills and coins amounting to $5.60.
You stand there, taking a long moment to realize that from your $1, you’ve made $5.60.
You put that same $5.60 back into the machine, and it spits out another $5.60 for every dollar to the tune of $31.36.
You’ve hit the jackpot.
Ok, so that example was pretty fanciful, and there are plenty more moving parts in play, but in a nutshell that’s CRM.
At the end of the day, all you’re doing is putting a dollar in, and getting five more out, plus change.
Now that we know how much you can get out of CRM, it’s time to talk about how you can you get the highest return on your CRM investment?
Use It To Access Your Data Any Time, Anywhere
CRM gives you the flexibility to add, edit, and access data on the go from your computer or from your mobile devices.
Never again will you have to tell a customer, “I don’t know; I’ll have to call you back when I get to the office.”
Just open your tablet or smartphone and the answer will be right there.
Use It To Keep Your Team In Sync
Ever had trouble with keeping your team organized? Ever lost time coordinating or re-assigning work?
With CRM in full-force, everyone will have their own task list and will get notified about everything they need to do.
Everything works automatically and syncs in real-time to keep everyone on the same page.
Use It To Keep Your Files Organized
Ever wondered where that file or folder went?
With CRM, that won’t ever happen again, as all your files, documents, contracts, assignments, photos, work orders, and more are stored and filed under their corresponding contact.
You just search for the contact and, boom, you’ve got the attachments right there.
Use It To Guide Your Sales
If there’s one thing you can learn from a CRM, it’s how well your sales process is doing and gain insights on what you can improve.
Sales will get help with tools to get their job done faster and easier, while you’ll be able to see the steps that led to a sale and apply those to your sales process.
Use It To Guide Your Marketing
Just like with sales, CRM allows you insights into your marketing effectiveness. You can track lead source and combine that with statuses to see which lead sources bring in the most leads and the most leads that actually close.
Then, you can focus your resources by honing in on the sources that matter most to your bottom line.
No truer words were spoken than these: A CRM that goes unused is a gold mine left un-mined.
Really, can you imagine going to the grocery store and seeing that CRM machine? If the machine is there, why not use it?
If you’ve got a CRM, you have to just use it. You’ve gotta trudge through that first time where you’re stumbling a bit in order to get to the part where you’re jumping and shouting for joy.
The CRM ROI is ripe for the taking; a vending machine beckoning you ever closer.
Just get through the initial investment, jump the first few hurdles, and persevere and you’ll find the return on your investment will be very rewarding.