What Is CRM And How It Can Unlock Massive Sales Enablement Benefits For Your Business

You may know by now what is CRM software, but are you aware of the term ‘Sales Enablement’ and what it means to your business? Well, in general, sales enablement refers to a process of providing your sales teams with the most effective tools they need to sell your offerings successfully. Therefore, sales enablement provides your sales teams with the right technology and content to better engage their prospects in the buying cycle. It is a tool that can unlock significant benefits that in turn will increase your sales and drive more revenue.

You may know by now what is CRM software, but are you aware of the term ‘Sales Enablement’ and what it means to your business?

Well, in general, sales enablement refers to a process of providing your sales teams with the most effective tools they need to sell your offerings successfully. Therefore, sales enablement provides your sales teams with the right technology and content to better engage their prospects in the buying cycle. It is a tool that can unlock significant benefits that in turn will increase your sales and drive more revenue.

Leads that are nurtured in the CRM system convert 47% of the time- Annuitas Group Click To Tweet

For example, ConvergeHub small business CRM software is a sales enablement tool that can empower your sales teams to convert more leads and prospects into customers in a much lesser time.

Therefore, with a small business sales enablement tool like a CRM in place, your business has the potential to provide more ROI rapidly.

However, what are these benefits that you can unlock with a best small business CRM like ConvergeHub?

Now that we know what is CRM software, let us dive in see!

Automating manual tasks

A sales enablement CRM for small and medium business drastically increases the efficiency of your sales teams by automating their day-to-day tasks. Therefore, when you use a Converged CRM that includes sales, marketing, customer support, and also accounts (if you are using a QuickBooks CRM), your efficiency increases dramatically.

Here are a few examples:

  1. Data Entry

Lead data is captured successfully when you leverage lead-generation forms. That means, your sales reps do not need to enter data manually, and they can use that time to focus on more important issues.

  1. Appointment scheduling

CRM helps to automate the process of scheduling the appointment process. This allows prospects and customers to schedule meeting with reps with their convenience, freeing them from having to conduct the actions manually.

  1. Lead Scoring

This process helps sales reps to take actions by viewing the propensity of the buyers. Lead scoring methods help in improving the quality of the leads. Hence, small business CRM software that includes lead scoring capabilities helps reps to focus on other things and at the same time have an insight into, leads, which are sales-ready, and those leads that need more nurturing.

  1. Telephony

If you easy to use CRM provides telephony integrations, like Ring Central and others, it helps your sales reps make more calls in less time. Using telephony integration you can select a group of leads to call and let the software call them in sequence without your sales reps having to call up each of the dialed numbers manually, resulting in increased productivity.

  1. Voicemail Drop

Another great benefit of using telephony integrations with your small business CRM software is the ability to leave pre-recorded voice mail drops. Hence, when your sales reps call someone and get sent to the prospect’s voicemail, they click the voicemail drop they want to leave, which thereafter gets delivered automatically.

  1. More Insight Into Customers And Prospects

A CRM software that provides sales enablement stores extensive data on customer and prospects, which includes demographic and personal data of the prospects and the customers. For users who know what is CRM software and its capabilities, can easily track such data for finding behaviors such as clicking on an email, attending a webinar, or viewing a content, which can help sales reps to leverage sales enablement software to maintain more insights into who the customers are and what they need.

  1. Understanding past buying behavior

Sales enablement software like ConvergeHub software helps to track all deals that have been created by your reps.
Once you are using a QuickBooks CRM for sales teams, which offers QuickBooks CRM integration free, your reps can easily open a contact’s records in the CRM database to see which product has been bought by the customer in the past. It can also show which products the prospects and customers have been interested but did not purchase, which allows reps to understand which types of offerings the customers are interested in that in turn drastically increases up-selling opportunities.

  1. Knowing customer’s pain points

When you use a Converged CRM like ConvergeHub, you can track all the customer support tickets, and easily see which problems a customer has faced with your offerings by reviewing their ticket history in the CRM database. Therefore, before up-selling to any customer, using a CRM you can see if the customer is having an issue, and up-sell until the customer is satisfied again.

  1. Arming representatives with the right resources

Sales enablement is also about sending the right resources and content to the leads, prospects, and customers at the right time. Therefore using easy to use CRM software platform, your reps can check where each lead are in the sales funnel, and provide them contents that correctly aligns with the sales process, which can be leveraged by using marketing automation functionalities of the CRM software.

  1. Automated tasks and alerts

You can use small business CRM software to send alerts to sales reps instantaneously when leads become sales qualified that help to remind reps that they need to reach out immediately and start a conversation with the prospect. It is like striking when the iron is hot.

Moreover, using CRM software when speaking to a lead that would benefit from a particular resource, sales reps can simply open the saved email and hit send, which lets them quickly provide the resources and content that leads need at each stage of the sales funnel.

  1. Understanding results

Sales and marketing teams need constant insight into their efforts to improve their results. With a robust sales enablement software like ConvergeHub CRM , you can use its powerful reporting functionalities to view how they are performing against their goals. Sales CRM software helps in checking the health of your sales pipeline, see growth reports, check your rep’s call rates and much more, to identify areas that need improvement or fix broken processes and make data-driven decisions they need to improve to close more deals.

 Conclusion

Now that you know what is CRM software and how it can help you as one of the most efficient sales enablement tools, use ConvergeHub the award winning CRM platform for small businesses, to unlock the benefits described above to make your reps work faster, smarter, and convert more leads into customers in less time.

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Do You Think A Cloud Based CRM Solution Will Future-Proof Your Small Business?

It is unnecessary to say that in order to thrive in 2018, all small businesses must remain prepared to utilize the latest technology in hand. Whether it is sales forecasting with the help of a cloud based CRM solution, big data analysis, or even digital marketing and social media, it is technology that holds the key to communicating with the consumers on their individual terms. At that too possibly, in the least intrusive way, so that it provides the consumers a convenient and clear path that eventually leads to a sale.

It is unnecessary to say that in order to thrive in 2018, all small businesses must remain prepared to utilize the latest technology in hand. Whether it is sales forecasting with the help of a cloud based CRM systems , big data analysis, or even digital marketing and social media, it is technology that holds the key to communicating with the consumers on their individual terms.  At that too possibly, in the least intrusive way, so that it provides the consumers a convenient and clear path that eventually leads to a sale.

CRM software returns an average of $5.60 for every dollar spent. Click To Tweet

As modern technology is advancing at a breakneck speed, businesses can often find themselves unable to stay on trend or keep themselves updated on the latest technological developments.

It is true, that it takes a significant amount of money and time to implement a new solution across a company and this is the exact reason we cannot blame small businesses for being so skeptical of adopting smart business solutions when they remain unsure if this technology will stand the test of time. A critical problem that plagues prospective users of CRM solution systems in particular, since Customer Relationship Management has evolved a lot since its inception when the term was coined in 1995.

The Customer Relationship Management Paradox

A CRM implementation is perhaps one of the most complex yet at the same instance most transforming product adoption that a small business organization can undergo. Requiring all departments in the company to cleanse the data before migrating it, train the employees in getting used to the new software, and then most necessarily catch up with the backlogs of the works that have been delayed by the change in the organizational process.

Therefore, it might take some time before small businesses can really start to benefit from the new CRM solution, although it is well worth the sacrifice, especially if they understand that the product adoption is future-proofed.

Once a small and medium business has identified that it needs a CRM system, the primary obstacle it may encounter is whether its CRM solution should be an on-premise or a cloud based CRM system. Now, we know all businesses are different and so it would be an irresponsible act to advise either way. Since businesses should always adopt a product that best suits their individual needs.

Nevertheless, there are clear advantages and disadvantages of both these CRM systems as illustrated below:

Should You Adopt An On-Premise Or A Cloud-Based CRM Solution?

Those businesses having a long history in trade and commerce will surely be familiar with on-premise CRM solutions, which can be installed on local networks and is most commonly developed or administered by a permanent member of IT staffs, employed by the organization. On-premise CRM software platforms are generally unreachable for anyone out of the network, which makes it an ideal CRM solution for small business employees that do not need remote access to the software.

On-premise CRM also aids with security, as only permanent staffs working in the organization gets access to the CRM system.

Many businesses also prefer Capital Expenditure (CapEx) versus the modern day subscription-based model (OpEx) of the software for accounting purposes.

Therefore the decision to implement an On-Premise CRM or a Cloud Based CRM solution, not only lies in the hands of the marketing and sales, or IT and Ops, but also with Finance.

Moreover, on-premise CRM solutions can often be left behind with technological upgrades, since many small businesses may not choose to periodically upgrade their CRM platform due to lack of compatibility with their customized solution, as well as the fear of losing data or the disruption it will cause to the routine use of the software.

Additionally, with the CRM data stored in the local server, which is not accessible from outside the network, this can also create a bigger data risk than cloud based CRM solutions that can be accessed from online portals.

This is because, there are several instances when users are forced to share their customer data in CRM via external communicational platforms or emails for the purpose of networking or sales calls, thoughtless of the alarming fact that this data being sent could be compromised.

This where the real benefits of a cloud based CRM system come into play. Since a cloud based CRM solution is inherently future proof.

With live updates released on a regular basis, online cloud based CRM platforms are constantly optimized, as well as well guarded against all latest cyber threats.

Whether it is an improvement to be done on the user interface, an adherence to be made to the latest General Data Protection Regulation (EU) law, or even for a major product update, cloud based CRM platforms like ConvergeHub and others use regular and subtle updates. Therefore, unburdening the CRM users by guaranteeing them minimal disruption to their work.

Integrations are also made much simpler when the data is stored in the cloud, with several web-based systems making product integration as easy as ‘drag and drop’ functionalities, which is becoming increasingly useful given the value of marketing products and solutions via social media platforms.

Easy to use CRM platforms, especially those that boast of their marketing automation features, should always embrace the cutting-edge modern communication technology for the CRM users to get the most out of sales and marketing. Therefore, small businesses that still use on-premise CRM software that predate the advent of modern social media platforms, often find themselves stuck with outdated marketing strategies, as popular integrations are almost impossible to implement without a major product update.

Is future proofing CRM technology ever truly possible?

While adopting cloud based CRM platforms like ConvergeHub can help to future-proof your small business endeavors, honestly speaking, there is really no way to predict the direction in which technology will go.

However, as of date, cloud based CRM system merely offers us the option of constantly staying up-to-date, providing us with every possible advantage as CRM technology advances with time.

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Nevertheless, to sum up, small businesses that are capable enough to justify the time investment and financial outlay and benefit from the limitless product integration of a SaaS-based software should seriously consider using a cloud based CRM solution, which is also easy to use.
Since implementing a cloud based CRM for small businesses in the modern times will at least ensure future proofing your CRM solution until the next breakthrough in technology- as for what that will be, your guess is as good as mine.

5 Unsurpassable Benefits of Using Cloud Based CRM Systems

A cloud-based Customer Relationship Management (CRM) solution is a vital tool for any contemporary sales stack. As your business grows, so does the number of customers and contacts you have to keep track of – which is where a robust cloud based CRM system comes into play. If you have not yet made the switch to a cloud based CRM system (or you have just not made the leap from spreadsheet to using an easy to use CRM at all). You could be letting down your sales teams and slowing down your businesses. Let us now explore the reason why more than 87% of modern businesses function better, with the help of a cloud based CRM system in their organization.

A cloud-based Customer Relationship Management (CRM) solution is a vital tool for any contemporary sales stack.
As your business grows, so does the number of customers and contacts you have to keep track of – which is where a robust cloud based CRM system comes into play.

87% of modern businesses function better, with the help of a cloud based CRM system in their organization- Marketo Click To Tweet

If you have not yet made the switch to a cloud based CRM system (or you have just not made the leap from spreadsheet to using an easy to use CRM at all). You could be letting down your sales teams and slowing down your businesses.

What is a Cloud Based CRM system?

A cloud CRM or a SaaS based CRM system, as the very name suggests, resides in that elusive place, which we in the technical term call the ‘Cloud’. Although we cannot view where a cloud CRM dwells, however, we can indeed see and experience the benefits it provides over the traditional On-Premise CRM software platforms.

This is mostly because the positive impact of a cloud based CRM system makes you feel the CRM solution palpable, real, and substantial in its appearance.

For instance, there are several sales teams that rely on ConvergeHub Cloud based CRM solution to streamline their workflow, that includes email outreach, cold calling, managing their contact lists, tracking sales opportunities and activities, as well as optimizing their process of sales.

Let us now explore the reason why more than 87% of modern businesses function better, with the help of a cloud based CRM system in their organization.

5 Benefits of adopting Cloud based CRM systems

  1. Hassle-Free Installation Process

For a small business or a startup to successfully adopt any new robust software, the primary thing is to get it started easily. After all, software that works seamlessly and moves quickly does not make you invest more time or efforts and resource on that application.

One of the greatest causes a business might fence sit and try not to use a CRM, is the imbibed fear that the installation of the software will be complicated and the onboarding of the business solution will be more of a trouble than it is worth its rewards.

Luckily, with a cloud based CRM system, installing the software is a procedure, which is as smooth as a breeze. As in a SaaS-based CRM software, there is no hardware involved in the installation process, you need not even set up your own server, and there is zero maintenance required for upholding the system.

This means you simply do not require an IT team to supervise the installation or data migration procedures since the CRM vendor will take care of all these aspects remotely.

In fact, as long as you have an internet access, getting started with a cloud based CRM system is an easy affair.

Sales teams admire and love cloud CRM solutions, as SaaS-based CRM is accessible from anywhere.

Most cloud CRM software like ConvergeHub and others are easy to use CRM software platforms that are mobile ready, which makes the sales reps access their important information they need about their contracts and deals on the go.

To access mobile cloud based CRM software, all you need is a Wi-Fi connection and the login credentials to connect with the software’s cloud base.

Moreover, since the CRM is hosted in the cloud, it also acts as a lifesaver on many instances, as the customer database in CRM is available 24/7- not just when you are at the office.

Per say, information stored in the CRM database is organized and accessible to everyone on the sales team from anywhere across the globe. Which implies your in-house sales reps can review the same data and information, as the sales reps meeting their clients on the road.

A cloud CRM is also a boon to the sales teams when anyone needs to make a last minute sales call while working remotely. Using this CRM platform, sales reps can quickly get the details they need for an important sales call or check up on a client whether they are on their tablet, phone, laptop or even borrowing someone else’s device.

  1. Ease of Use

Not only does a cloud based CRM system ensures that your customer data in CRM is always there at your fingertips, but is also extremely easy to use.

The process of onboarding is a different experience for every CRM platform, but ConvergeHub easy to use CRM solution, does not involve a steep learning curve. Thanks to our extremely simple onboarding process, our CRM is designed to be up and running within minutes.

Businesses can upload and seamlessly synchronize existing customer data residing in their previously used online lead management software, edit the details whenever they want, and customize fields and reports in the CRM software to fit into their sales processes.

ConvergeHub cloud based CRM system also allows you to easily generate new leads, send cold email campaigns, keep track of existing customer data in CRM and their communications, as well as send follow-up emails for lead nurturing.

  1. Scalability and Flexibility

Cloud based CRM software applications have the ability to keep up with any small and medium-sized business as it grows and thereby support your expanding team.

This agile and flexible nature of any SaaS CRM solution makes it perfect for businesses of any size, including startups looking for a software solution that can match their budget, size, and most importantly goals.

Because cloud CRM platforms can provide unlimited storage space and bandwidth without upgrading the system, cloud based CRM systems are more flexible than those On-Premise CRM software platforms that reside in the local servers.

This increased flexibility of cloud based CRM systems leads to a greater productivity and efficiency across the board.

  1. Integration With Other Apps

Any reputed cloud CRM in the market can be easily integrated into your businesses’ existing workflow. This is a great news, since adopting a cloud based CRM solution, you do not have to invest in software applications that do not cooperate with the services and tools your employees rely on, to do their job well at the office.

Once you adopt a cloud CRM, just make sure that your CRM software is fully compatible with the services your marketing, sales, accounts and support teams use, such as email client, accounting software, telephony applications and others.

Compatibility is a matter of such importance to any startup’s sales stack that we built ConvergeHub specifically to help you integrate our customer relationship management software seamlessly with other applications you use every day, which includes Gmail, Google Drive, DocuSign, Zapier, QuickBooks accounting, RingCentral, MailChimp and several others.

For viewing the full list of all our integrations, you can visit our Integrations webpage. We are sure with our exhaustive list of integrations you will be seeking nothing further anymore.

  1. Cost Savings

Small businesses and startups do not need to invest a lot to get started with a cloud based CRM system. Therefore, switching to a SaaS CRM is a low-risk business venture, with very high rewards.

The services offered by a cloud CRM software can save your sales team’s time and efforts by taking care of data management so that your sales and marketing reps can focus on selling and bringing in more revenue.

Additionally, a cloud CRM like ConvergeHub also requires fewer resources to maintain, so you do not need to hire a big IT team to manage your show.

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Endnote

Therefore, now that you are aware of the benefits of what is a CRM on the cloud, try ConvergeHub the award-winning cloud CRM for small business that helps you to take control of your enterprise.

5 Ways to Tell If Your Alternative Lending Business Needs a Merchant Cash Advance CRM

Any good easy to use CRM software can alleviate many of the persistent headaches that come with managing alternative funding business that is poised for fast growth. However, how do you know if your MCA business needs a Merchant Cash Advance CRM software solution? If you know what is a CRM solution, well then CRM or Customer Relationship Management has been around for quite some time and more to say has in the recent times made a booming comeback, with social CRM technology, with applications focusing more on interactions than on just transactional feedbacks. Here in this article let us look into the 5 keys areas that suggest any alternative financing MCA business, just like other industries, need a Merchant Cash Advance CRM.
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Any good easy to use CRM software can alleviate many of the persistent headaches that come with managing alternative funding business that is poised for fast growth.
However, how do you know if your MCA business needs a Merchant Cash Advance CRM software solution?

If you know what is a CRM solution, well then CRM or Customer Relationship Management has been around for quite some time and more to say has in the recent times made a booming comeback, with social CRM technology, with applications focusing more on interactions than on just transactional feedbacks.

Without an easy to use CRM, 79% of leads fail to convert- Pardot Click To Tweet

With Cloud-based and SaaS CRM solutions integrating even more features, CRM in all industries and businesses is gaining popularity, that too with easy installation and low initial costs, which can also be accessed through handheld mobile device.

Here in this article let us look into the 5 keys areas that suggest any alternative financing MCA business, just like other industries, need a Merchant Cash Advance CRM .

  1. DO YOU- Wish You Had More Time?

Does it seem to you that you had more time to concentrate on selling your financial products and services to prospective new customers? Or just simply wish that you could have spent less time dealing with admin tasks, such as managing your sales rep’s progress, or locating information and past communications with your customers. An efficient MCA CRM software solution will allow you to store and access all your customer data in CRM, as well as provide you with in-depth analysis on your sales team’s progress- thereby allowing you to focus on other important tasks and manage your office hours more efficiently.

  1. DO YOU- Want More Revenue?

To increase their revenue, all businesses typically invest in improving their sales, and support teams. With the help of a thorough easy to use MCA CRM like ConvergeHub, alternative funding companies can easily afford an insight into their customer information stored in the CRM database.

MCA organizations can view where their best leads and sales are coming from, or which marketing campaign proved successful that in turn enables companies to invest more money and time, in the right areas to maximize growth.

  1. DO YOU- Want To Grow Your Customer Base?

It is natural that in the present times your customers will communicate with you company in a multitude of ways. Now, if they have to deal with different representatives of your organization, every time they contact your MCA firm, having an accurate record of each and every dialogue, in the CRM database, ensures that your debtors do not have to provide details of their contact information, loan history, complaints and other documents needed for establishing their credibility.

All customers want to deal with organizations that understand and is capable of responding to their needs, preferable even anticipate them in advance.

Using a Merchant Cash Advance software helps in treating your customers as individuals, provide them with personal attention, acknowledge their requirements individually, and therefore give the respect they need for doing business with your MCA firm.

Invariably, earning the trust of your customers will also lead to growth in your alternative lending businesses’ revenue.

Using an MCA CRM software solution you can make your customers feel special by targeting personalized messages to your present and would be consumers, helping to better connect with them across multiple communication platforms.

  1. DO YOU- Want To Increase Your Customer Retention Rates?

Over the last few years, customers and prospects have become much more tech-dependent and tech-savvy than they were ever before.

As a result, consumers expect a seamless user experience across every channels and device, whilst at the same instance, they also expect the best possible standards of customer support.

With countless customer choices, building up loyalty among your highest value customers for your organizing is crucial for your alternative lending business.

A Merchant Cash Advance software platform can help in communicating with the existing clients at the right moment, through the right channels, and with the most appropriate message to ensure that your customers come back and better yet become a ‘brand advocate’ of your MCA firm.

  1. DO YOU- Want Better Insight into Your Cash Advance Business?

Not be able to precisely forecast your incoming revenue can cause a lot of stress. Can you predict which of your sales reps is going to close your biggest deals? Alternatively, which of your marketing email campaigns delivered the best returns on your investments?

An MCA CRM software platform should not only allow your business to gather and track that data from its CRM database whenever you choose, but also provide substantial information to help you in making decisions and correct your course of actions and strategies as and when it is needed.

Takeaway

If one or more of this five enlisted areas resonates with you, then for sure you need a Merchant Cash Advance CRM software like ConvergeHub to manage your growing Merchant Cash Alternative Lending business.

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To test the effectiveness of any proposed CRM initiative, primarily use a small-scale working model of the software.
So why wait!
Try ConvergeHub’s 14-Day Free Trial– The most awarded Merchant Cash Advance CRM for alternative funding businesses.

What Is CRM ROI? How To Get Paid For Your Investments Using Cloud Based CRM Systems

According to a study done by Nucleus Research, it was found that for every single dollar spent on a cloud based CRM platform, the return is between $5.60 and $8.71. According to another research done by HubSpot, it was established that 40% of sales reps do not even use this online lead management tool to manage leads and prospects but instead relies on Rolodex cards and Excel spreadsheets to manage their sales funnel and cultivate customer relationship. Now, how can this be possible when statistically 47% of the sales teams that use a cloud based CRM say that they registered a positive impact on customer retention by using CRM for their businesses? Part of the problem in this long-standing self-contradicting confusing statement lays in the horror stories we hear about companies that did unsuccessfully spend thousands of dollars on the promise of improving productivity with the help of a CRM for their sales teams.

According to a study done by Nucleus Research, it was found that for every single dollar spent on a cloud based CRM system , the return is between $5.60 and $8.71.

Nevertheless, there is also a bad news.

According to another research done by HubSpot, it was established that 40% of sales reps do not even use this online lead management software to manage leads and prospects but instead relies on Rolodex cards and Excel spreadsheets to manage their sales funnel and cultivate customer relationship.

Every single dollar spent on a cloud based CRM system, the return is between $5.60 and $8.71. - Nucleus Research Click To Tweet

Now, how can this be possible when statistically 47% of the sales teams that use a cloud based CRM say that they registered a positive impact on customer retention by using CRM for their businesses?

Part of the problem in this long-standing self-contradicting confusing statement lays in the horror stories we hear about companies that did unsuccessfully spend thousands of dollars on the promise of improving productivity with the help of a CRM for their sales teams.

We all know any CRM is more than just a sales tool.

This means a CRM database serves as a data warehouse that centers on client interactions, so that marketing, customer support, billing, and other departments should be able to use its centralized repository for collecting and retrieving information.

Cloud based CRM software should also offer automation that effectively improves workflow and permits a seamless connection to all the front and back-end systems in an organization.

However, the golden key for this cutting-edge tool is that you have to use it right to garner your ROI.

In this article, we will look into CRM ROI and provide the readers with certain pointers on why investing in cloud based CRM software like ConvergeHub can make all the difference for your team.

Top Considerations for CRM ROI

Creating a business case for your cloud based CRM software got you this far. However, after go-live of the CRM users must find the impact this new online lead management software has on all the departments that use this platform.

Forrester (the global research firm) is one organization that has provided us a framework of how we can do this. Their methodology, which is known as ‘Total Economic Impact’ views on the sales outcomes as weighted against money and time spent on the CRM.

Forrester’s TEI methodology typically looks at whether sales increased or closed faster via improved lead generation strategies.

Forrester also evaluates the user-friendliness of the cloud based CRM software and how scalable is the CRM as the company changes and registers growth in employment over time.

Here are some of the questions Forrester use to measure their CRM ROI, which includes:

  • Did the CRM platform increase wallet share by capturing more customer income and consumers on your offerings?
  • Did the cloud based CRM software help sales reps match the services that your client needs?
  • Are the customer relationships lasting longer than before?
  • Did the cloud based CRM software provide marketing, sales, support, and the management teams with automated functions that improve business efficiency?
  • Have the management team in your organization been able to capture data that shows reduced direct selling costs?
  • Is the CRM platform, easy to use and intuitive enough to eliminate the time required for IT to pull reports from the CRM database?

CRM implementations are never identical. Therefore, as you can only see an ROI from your CRM if your employees use the platform, this human variable has a direct impact on CRM ROI. Hence, if you take two organizations with competing offerings from the same industry and provide them with identical CRM platforms, it is highly likely that the experiences of these two companies will never be similar. Consequentially, so shall be the differences in their ROI.

With that being said, let us quantify some of the steps that are necessary to set up a new cloud based CRM system for success in any organization, that include:

  • Making certain that the information silo housed in the different departments in the organization are abolished. It has been found that there will always be certain departments that will be more unwilling than others to comply with the CRM software, where all data is collected and stored in one place. However, it is important that each department in your organization agree to enter information in one place to reap the benefits of CRM ROI.
  • Create a means to measure the different metrics by departments and develop a reporting structure that can follow these benchmarks effectively. Therefore, select an online lead management software that is able to handle the deviating goals of marketing, sales, operations, billing, customer support, and others.
  • Accept workflow changes that will completely leverage the software. This may be a conflicting situation for most employees that are set in their ways. Setting the expectation upfront that CRM ROI is based on each team member’s acceptance of the software, is an important part of finding employee buy-in. Each of the employees must be aware that they will receive proper training to utilize the cloud based CRM software, which will make them grow individually and as a department.
  • Customize the CRM software to reduce the busy works, which is holding your organization back for generating CRM ROI, as you are likely to find a host of redundant tasks baked into many of the departments in your business.

Recovering what you pay for your cloud based CRM software means choosing the right CRM software and optimizing the platform to fit your business.

Recently we hired a research agency to conduct an analysis of CRM ROI for ConvergeHub CRM. Let us look at what they discovered about ConvergeHub online lead management software, which is a FinanceOnline award-winning CRM for small businesses:

According to the research study, the potential ROI of ConvergeHub cloud based CRM saw a number of business benefits, like reduced CRM maintenance and infrastructure costs, and quicker time-to-market.

The report further elaborated that:

  • The time-to-implement and deploy was much faster with ConvergeHub cloud based CRM solution than an on-site CRM implementation.
  • Organizational efficiency in the processes was improved as sales and customer support departments were able to automate several basic and redundant works.
  • The online model of ConvergeHub CRM software allowed customers to avail a fixed monthly subscription, which nullified overhead costs.
  • ConvergeHub helped businesses save money in the long term.
  • Businesses began to see an ROI within 3 months after installation of the small business CRM software.

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Ultimately, the research stated that ConvergeHub has an overall 63% CRM ROI rate, a figure that places ConvergeHub as a highly rated SaaS-based online lead management software , which is worth considering, as it helps you to get the most for your investments.