Customer Relationship Management software, or CRM software, are quite popular among businesses out there. They help all sorts of businesses to enhance customer interactions and streamline processes. On top of that, it can also help the businesses to drive revenue growth as well. Even though CRMs are a powerful and serious tool, it is always a fun to discover some interesting and quirky facts about the role in sales management. In this article, we will share some fun facts about CRM and help you understand more about them.
- The very first CRM in the world
The very first CRM was created back in the year 1986. It was named as ACT. Although it started out as a contact management program, it gradually became a complete CRM system. This pioneering system set the path for the expansion of the CRM sector and the subsequent creation of more sophisticated CRM platforms.
- CRM can boost both sales and productivity
Independent research found that using CRM software can boost sales productivity by 14.6% on average. CRM solutions free up time for salespeople to concentrate on forming connections and completing transactions by giving sales teams a single platform for storing client information, monitoring prospects, and automating repetitive chores.
- CRM and Customer Retention
CRM is not only about bringing in new clients. It also has a big impact on keeping existing ones. According to research, a 5% improvement in client retention rates can result in earnings that rise by 25% to 95%. CRM systems assist companies in maintaining ongoing client connections, personalizing communications, and providing excellent customer experiences, eventually increasing client retention and loyalty.
- Popularity of mobile CRMs
Adoption of mobile CRM has increased along with the development of mobile technologies. Sales professionals can update data, access client information, and handle projects while on the road thanks to mobile CRM. A survey by Innoppl Technologies found that just 22% of sales representatives who do not utilize mobile CRM meet their sales targets, compared to 65% of those who do.
- CRMs and Social Media integrations
Social media integration has been added to CRM, which has progressed beyond conventional customer data management. CRM systems now come with tools that let companies assess consumer sentiment on social media, watch social media channels, and interact with customers there. Through this connectivity, sales teams are better able to understand consumer preferences, quickly address inquiries, and take advantage of sales possibilities on social media.
- Gamification in CRM
Gamification is a method for motivating and energizing people by using game elements. To motivate sales teams and boost performance, several CRM systems have added gamification components like leaderboards, badges, and awards. Gamified CRM solutions can improve motivation, encourage healthy competition, and raise sales team engagement by turning sales operations into games.
- CRM with artificial intelligence (AI)
CRM systems are progressively incorporating AI-powered capabilities. Lead scoring, predictive analytics, and chatbots for customer service are just a few of the duties that AI can automate. CRM solutions can increase the productivity and effectiveness of sales teams by giving them useful information, tailored suggestions, and intelligent automation by using AI capabilities.
- CRM and Sales Forecasting
Sales forecasting is a crucial part of CRM that enables companies to properly anticipate future sales income. CRM systems use consumer behavior, market trends, and previous sales data to estimate future sales. CRM can provide companies useful information for strategic planning and decision-making by applying sophisticated analytics and machine learning algorithms.
Final words
Make sure to get hold of the right CRM that resonates with your business objectives. Then you can end up with securing the most returns that a CRM can deliver on the way of your business.
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