We explain the benefits of CRM systems in a series of interesting and surprising statistics
While many business owners are aware of CRM platforms and maybe even some features, they’re not necessarily aware of the benefits of CRM systems in contributing to their company’s growth. In a series of statistics, we explain how a CRM system – and specifically Microsoft Dynamics 365 – serves a business through its growth.
Growth: Over 60% of businesses adopt a CRM in their first five years
It’s tough running a new business. The simplicity of managing operations, finances and sales from one central point means it’s often not long into the life of a business before most owners see the benefit of a CRM system.
Microsoft Dynamics 365 out of the box will be close to the needs of most companies. It can then be tailored to meet more specific requirements. And with a wealth of specific silos available, Dynamics 365 can grow in the same direction as your business.
Success: 65% of sales reps using a mobile CRM achieve target
Whether dealing with fresh enquiries or helping existing customers with new products and services, there’s always something for sales team member to do and plenty of pressure to keep on top of all opportunities.
The benefits of CRM systems for sales teams is the work flow and automation systems offer. A CRM is designed to ensure that all leads are pursued and revisited on a scheduled basis, so no lead should ever be forgotten. Information is instantly available against each lead, so matter who is following up they have the information they need. This alone can increase the amount of opportunities that convert to a sale.
When sales are won, Dynamics 365 allows for orders to be processed with the click of a button, ensuring a sales person is not tied up in admin when they could be chasing the next lead. And once a business becomes a customer, platforms such as Dynamics 365 can also monitor accounts to check that customers continue to spend, alerting account owners or marketing if sales drop.
There's often little training to do for Microsoft Dynamics 365. Most experienced sales people are familiar with it. And such is its usefulness for sales, it’s our experience that it’s the solution they ask for when given a choice.
Market share: Companies that are digital leaders take between 40-70% of market share
Using the right technology doesn’t guarantee business success but it certainly makes the task a lot easier. There’s a reason why big brands are always on the lookout for the latest innovation or social media platform to market with or on – it’s what that may give them the edge over their competitors.
But how can Microsoft Dynamics 365 give you an edge if so many other companies are already aware of it? The trick is to personalise it to the way your business works. With a custom CRM solution that works the way you work and that embraces the latest relevant features for your business (such as PowerApps or social media monitoring), you’ll be working at your smartest. And this can be enough of a digital edge to help you outperform your competition.
Retention: Companies offering a good customer service experience generate 60% higher profits than competitors
Ever contacted a large company on more than one occasion and found yourself having to explain the same issue twice? It’s infuriating. It can also be fatal for business relationships. Over half of people will stop doing business with a company where they’ve had a bad customer experience.
It costs five times as much to attract new customers as to retain old ones. Investing in solutions that deliver better customer service can therefore help a business to both retain customers and save money.
A CRM system can allow for the delivery of personal customer service even when a company is operating at scale. Key customer account details and communications can be brought up in moments. This allows staff to become instantly familiar with accounts or outstanding issues, even if they’ve not worked with before.
With integrations possible within Microsoft Dynamics 365, staff can deal with requests however they come in, whether that’s via telephone, email or social media. In this way, your company is always represented wherever your customers are and how ever they want to contact you.
Hopefully these statistics have explained the benefits of CRM systems for helping a business to grow. If you’re interested in discussing the specifics of a solution in Microsoft Dynamics 365, please get in touch.