Sales Forecasts are Inaccurate
CRM can play a critical role in building accurate sales forecast, which is important for sound financial planning and profitability. The best CRM system for small business and large organizationwill allow you to organize and track your sales pipeline more efficiently. You are able to keep your eyes on your leads and opportunities as they move through your sales pipeline. The tool lets you know where prospects are in the sales process, which can help to forecast your potential sales value. Moreover, CRM dashboards provide charts, graphs and statistics in real time of your sales team’s activity. All this helps in improving forecast accuracy.
Unable to Identify Upsell to Increase Order Size
With CRM software for small business, you are able to store lead and client information at a centralized location. This centralized access has plenty of benefits, the most important being the ability to leverage data obtained by another department. This in turn helps to understand customers better. It helps to improve knowledge about customers, thereby enabling your sales team to serve them better.
CRM integrated with an accounting software will enable you to analyze order history of each account. This will give a good understanding of customers’ preferences, decisions and intentions when buying a product. Thus, you identify their purchasing behavior, thereby providing deeper insights to upsell/cross-sell strategies. In fact, by simply reviewing order history, you can identify the best potential upsell customers. In fact, integrating CRM and ERP software for small businessgives a 360 degree view of customers, which can make it easier to upsell and grow revenue.
Slow Sales Cycle
If speeding up the sales cycle is your top priority, make sure to use CRM software while running your business. The advantages of short cycle are plenty, the most important being you are able to close sales faster. This means, you are able to close more leads into sales. With CRM data available at your fingertips, you are able to target the right prospects and don’t waste time in chasing unpromising leads. Moreover, you also have access to their buying behavior. All this can help to identify the right strategies to shorten the sales cycle.