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4 Ways a CRM Helps in Planning your Sales Strategy

Companies need a great roadmap to secure dependable, long-term revenue by acquiring and retaining customers. 

Management Software Customer Relationship is a great way to improve and build a better roadmap or sales strategy plan. Here’s how!

CRMs provide valuable data and insight to create a strategy that is idealistic, achievable, efficient, and offers you the best results for your sales team. 

Here are some ways you can use a CRM to plan your sales strategy – 

1. Identify goals

 A CRM records and stores lead information to make intelligent decisions while structuring the company’s sales strategy. 

Building a sales strategy becomes easier when you have clear goals in mind. But how do you identify these goals? The simplest way would be to understand your business’ pain points. CRMs can help show where your business is slipping up by offering essential information such as the customer churn rate,  length of your sales cycle,  conversion rate, effective  sales channels , and feedback on churn and shorter customer lifetimes.  

Identifying these pain points can boost your sales and even allow you to audit current processes.

Once you have a clear idea of the scope of improvement, you can set effective targets and forecast your sales.  

CRMs can use past data and predict your revenue for the year, which in turn can show you how much income you should expect from your sales strategy. 

2. Gain customer information

 A great sales strategy can only help you as long as you understand your customers.

  • Are your customers more responsive on social media?
  • Are they more likely to be available in the afternoon?
  • Or are they from a particular geographic area?

Information on your customers can be incorporated into your sales strategy to improve its effectiveness and reduce customer acquisition costs. One way to obtain this information is with the help of CRMs, which track and make a note of all client information. 

CRMs also can track the existing customer journeys, highlight important  touchpoints, and identify the leaks in your sales pipeline.

3. Help you in your SWOT analysis

One of the critical foundations of creating a good sales strategy is knowing what your Strengths, Weaknesses, Opportunities, and Threats are. A CRM makes it easier to identify each aspect. Using the reports and analytics from CRMs, you can easily see what parts your business is excelling and struggling in. 

A CRM can also show you new opportunities or threats in different ways. It does so by recording the most frequently asked questions and feedback shared by customers.  You can use this information to identify the competitors you are losing business to or the potential scope of improvements in your product and sales approach.  If you have a chatbot, or even if people write you lots of emails asking about a feature in the product that they really want, your CRM can record that information and let you know. CRMs give great opportunities for you to upsell and cross-sell by  identifying your prospects’ needs.   

4. Leverage technology to build an effective plan

CRMs provide automation to your business, thus giving you more options while planning your sales strategy. Automation gets rid of mundane, repetitive tasks and speeds up the process, thus giving you more room to devise a more comprehensive strategy.

A CRM also can provide you various other options, like automated email responses, engagement through different media while tracking all that information on one platform. Lead scoring is a great feature you must utilize to prioritize leads and  create different outbound and inbound strategies for different sales scenarios. 

Furthermore, a CRM ensures that this plan is executed without any break in steps and ensures none of the prospect’s leak through the pipeline.   

Well, we hope that these tips help you use your CRM to plan your sales strategy. CRMs can save a lot of time by automating manual tasks and tracking all sales activities.  With all the time saved, and insight derived from a CRM, you can improve your sales approach and boost your   profits.

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