Tuesday, September 2, 2014
Study Measures CRM Solution Effectiveness
When you invest in customer relationship management (
CRM) software for your business, you have a list of
objectives that you are trying to meet. You may be seeking to measure and
identify weak links in your sales process. Your sales team may be complaining
that they need better communication tools with the customer service department.
In many cases, pipeline management and driving new business are two of the main factors influencing the implementation of a CRM solution. Connecting leads with the appropriate sales rep and converting that lead into a sale or contract can be a process filled with pitfalls and opportunities for dropping the ball. A
solution is designed to help you manage those leads that come in and convert
them to buying customers.
An inquiry from sales software provider Velocify led to a study to explore whether
aid in businesses converting leads into sales. In order to find out, Velocify
led secret shoppers to submitting a contact form through the websites of CRM vendors.
Some important insights resulted from the exercise that may help you identify whether your company is experiencing similar response patterns:
Even companies using a
CRM solution need improvement:
A mere 20 percent of the businesses using a CRM
solution optimized the contact opportunity by calling the prospect within one
hour of the inquiry. Thirty-five percent sent an email within the same time
Many opportunities are missed: Less than 60 percent of the inquiries received, at minimum, one phone call and one email. The average time for an inquiring buyer to receive a call was sluggish, at two full days.
Tech companies excel at lead management: Tech companies were 40 percent more likely to follow optimal contact strategies when compared with other types of businesses.
will certainly help your company better manage leads, but it is important to
measure the response time to leads and the method of response. Losing a lead
that has inquired into purchasing from your business is a major gap that can be
While many companies purchase a
solution in order to better manage their existing customer base, it is
important to make sure your company is also making a good first impression. An
inquiry that is met with a slow, disinterested response is not likely to excite
a potential customer about their relationship with your company.
If you are looking for a way to optimize your company’s response time to potential buyer inquiries, talk with Front Row Solutions. With mobile
CRM tools that manage not only current customer
relationships, but also new opportunities, we can help you turn leads into