How to Get the Most ROI from Your CRM Software

Put Down the Phone and Hit the Streets

Photo by Kaleidico for Unsplash

We usually think of “buyer’s remorse” as related to a car or home purchase. However, in some cases, there are cases of buyer’s remorse when a company takes the leap and buys a customer relationship management (CRM) package.

According to Gartner’s research, the global CRM market is expanding dramatically. Businesses are spending $18 billion a year on CRM implementations and the industry expects a major return on investment (ROI) to be very high.

CRM And Your Customers

Most likely you will have settled on a strategy for your customers and look for a CRM software program to complement how you want to integrate the two.

While you are working this out, at the same time you want to be considering how you will get the ROI from using CRM software.

There are several things you need to do first before you can start counting up your ROI, suggests Forrester Research:

• Define your objectives-Are you looking to acquire more of your current customers’ spending history for the product category?

• How can you improve sales? Are there ways to discount packages with certain customers?

• Is there a way to use your categories to attract new customers?

Reduce Expenditures

Save your salespeople for the most profitable of your customers. The place for them to be is in the field, knocking on doors and talking to your customers. There is nothing better than the old face-to-face. That is how they are going to generate revenue and build your ROI.

Another important piece of beginning to estimate your ROI is knowing how to calculate your expenditures. What is your exposure to customers whose profits are marginal? Consider reducing unproductive time with marketing and sales. Instead of face time for those customers, you can service them via the Web.

Utilizing your CRM, you can deploy a part of your team to spend a few minutes each day finding leads for your salespeople by using the “automatic lead capture functionality of CRM.”

What Are Your Efficiency Goals?