Tips to increase ROI of your CRM
By Amer Wilson
For many companies, the Customer Relationship Management system has become their nightmare – a little-understood, complicated system used to improve customer experience and nothing more.
CRM (Customer Relationship Management) is one of the most popular software solutions in companies of all industries. So when you implement a new CRM system, you are committed to investing time, money and personnel. But it is also important that you get a return on this investment. Let’s be honest; you don’t want to be spending bucket loads on a CRM software, which then won’t be utilized to the fullest and not offer you any financial benefit.
So, if your system’s current ROI is below average. Here are a few ways which can help increase the return of your CRM:
User adoption is a frequent challenge when it comes to CRM deployments. Low user adoption has been noted as one of the top contributor to the list of things, due to which CRM engagements become a fail.
One of the best ways to achieve successful CRM user adoption is by defining roles for each team and its members within the project. Involve your team early, from the start till the end of the implementation process.
Also, do not skip on the training part. Make sure that the users are taught how to use every part of the system, that they will be required to utilize in the CRM.
Do make sure that user adoption is encouraged at all levels of management. From the CEO to the occasional members of a team, everyone should know how to use the system. This further encourages other personnel of the organization to learn the system as well.
Choose features wisely
Focus your efforts on utilizing more features that actually matter to your business, and less on the features that you don’t need. Many CRM systems aren’t tailored to fit your business needs. Investing in additional features, integrations or customizations, automating critical workflows and business processes within your system can take it to the next level. All this will further help increase productivity and thus an increase in your ROI.
Focus on transparency
Enabling transparency should be a priority for your company. Transparency helps saves time, and reduces errors by allowing everyone in your organization to have access to the same information. For example, in many cases the marketing team has no access to the sales related work. So do make sure that every team has a decent access to data within your CRM, so they can adjust their lead nurturing strategy accordingly.
Upgrade your CRM application
It is a good step to keep in use the latest CRM software version available, else you probably might be missing out on some ROI-enhancing features. Newer versions tend to have updated functionality, more integration hooks and customizations for mobile and social networking technologies, which can easily translate into higher productivity. An upgrade can lead to CRM business process improvements in areas like lead management, campaign marketing and an overall access to a greater variety of customer data.