CRM system can also notify your salespeople when get notified about deals that are stalled or at risk to help increase closure rates and ensure your sales team stays on top of the game.
Your sales team must focus on high-velocity selling. The sellers who are part of these sales teams spend valuable time identifying the best customer in their customer list, navigating across multiple sources to identify who they need to engage with, when, and how.
And CRM systems can help overcome this challenge by providing intelligent notification and tailored experience using AI and machine learning technologies.
6. Standardize Your Data and Processes
Have you ever tried to create a report from data scattered across different systems, only to find out that data doesn’t match, it needs to be reprocessed and you actually don’t have any idea what data the other departments just sent you?
Data standardization is an important part of your reporting and forecasting and a lack of standardization results in low-quality data. Companies lose 12% of their potential revenue, on average, due to bad data.
However modern CRM system allows companies to organize all the data in a systematic and standardized way that the system, so the people will understand the data.
It helps you to sorts raw, non-uniform data and transform it into a consistent, predictable, and unified format used by AI and humans to make predictions, reports, etc.
This enables you to share data across departments and be sure that they can understand and use the data immediately without coming back and forth explaining what each column in excel means.
On top of that, CRM allows users to standardize common processes such as lead management and lead qualification, follows-up and closing deals, providing customer service and so much more.
CRM system helps you to standardize your data and processes which results in better collaboration, easier to scale and onboard new people and keep company standards high.
7. Scale Your Processes as Company Grows
Another great benefit of a CRM system is it allows you to scale your processes as your company grows.
As your company grows, hiring more people, targeting across more channels and increasing campaign budgets there needs to be a way for your workforce to effectively work and do more with less.
The goal of a modern CRM system is to be your process management tool that allows you to create workflows and automate tedious and repetitive tasks while keeping consistency in delivery and quality.
It also works as a centralized database and allows you to integrate your CRM system with second and third-party tools to streamline data across the tools.
And as already mentioned, the CRM system reduces some of the administrative tasks so your employees can focus on what they do the best.
Lastly, I want to mention, the CRM system helps you to effectively manage your growing list of customers by allowing you to effectively manage multiple channels at once, respond to your customers’ inquiries faster, and provide the tools so your employees can live up to the expectations.
And of course, there are many more ways how CRM systems can help your growing business to scale some of your processes and if you want to learn more about how Dynamics 365 CRM Apps can help your Malaysian business, please contact us.
8. Improve Your Customer Satisfaction
Customer satisfaction has been arguably one of the most important topics in every business industry. Almost all businesses have acknowledged the importance of happy customers, happy business.
At times, when customers are having plenty of choices to choose from, we are living in a world, where a customer is in charge of our business success. Therefore customer satisfaction has become ever more important.
A CRM system with the right strategies will help you to unlock more customer-centric, streamlined processes and insights that lead to higher customer satisfaction.
It helps you to respond faster to customer inquiries, create a more personalized approach, keep customer service standards high in a friendly manner, and even helps employees to better manage their workload in busy times.
CRM system helps boost team efficiency by eliminating repetitive tasks, letting your team focus on high-impact activities.
It also includes features to help you track engagement across various customer touchpoints and Insight into behavior throughout the customer journey helps surface opportunities for optimization—and lets you know what’s working well.
CRM system also helps you to connect with your customer wherever they are, whether it is live chat, calls, email, or social media, CRM system helps you to connect across platforms.
Lastly, I want to mention, CRM solutions help you offer great customer service—helping build the trust and loyalty that keeps your customers coming back.
9. Protect Your Data & Business from Hackers and Regulation
The next great benefit of using a CRM system is that it helps you to protect your data against hackers and data breaches.
A report from IBM shows that Data breach costs rose from USD 3.86 million to USD 4.24 million, the highest average total cost in the 17-year history of this report.
And the main factor of increased data breaches was due to COVID-19 and remote work. The average cost was USD 1.07 million higher in breaches where remote work was a factor in causing the breach, compared to those where remote work was not a factor.
Modern CRM systems like Microsoft Dynamics 365 provide robust enterprise-level security for all their customers ensuring your data are well-protected.
Microsoft invests over $1B each year into cybersecurity research and development and with over 3,500 cybersecurity experts who work 24x7x365, they protect, detect, and respond to threats in real-time.
