- Satisfied customers are key to business and sales growth
- The sales funnel can be made more efficient with CRM software
- CRMs optimize your sales funnel
Customer satisfaction has a lot of impact on how well a company performs over time. Satisfied customers are less likely to switch to other brands and more likely to return for the same product or service and refer you to their friends and family. This implies more sales overall and growth of the business.
It is no surprise that most businesses try to ensure that their customer gets enough utility and is satisfied with their product or service. Companies employ various strategies to ensure this and stay ahead of the competition. One of the ways Businesses attempt to do this is to personalize their services to the consumer.
Almost every user today expects to get customized services offered to them; even when they don't explicitly expect it, they appreciate it. The world has gotten to where customers are more willing to provide some of their data for personalized services. E-commerce services and entertainment apps thrive on these features to keep their customer base.
Sales And CRM Funnel
The business of sales cannot be discussed without a sales funnel. The sales funnel summarizes the path taken by a customer to buy your product. The sales funnel usually has several stages. The stages of the sales funnel differ according to the business model.
A CRM, short for Customer Relationship Management, utilizes software to track and store customer data through the sales funnel. CRM also has a funnel that reflects that of the sales funnel. The CRM funnel can speed up accessing prospects in a sales funnel. The CRM funnel generally has four stages.
Awareness is the beginning of the process. This is where potential clients will learn about the product or service offered. There are several ways through which prospective clients can learn about your product: online marketing and Ad campaigns as offline advertising and referrals.
Interest is the next phase. An interested prospective customer will most likely contact you on social media or visit your website. If you offer free ebooks or a newsletter, interested parties may sign up with their email.
The decision is the second to the final stage. In this stage, the potential customer will decide if they are willing to purchase your product. For most people, the next logical step will be to compare the value you offer and the pricing with those in the same business with you. At this stage, the sales reps may also want to interact with the potential buyer to gauge willingness.
Action is the final step. The potential client may decide to buy your product at this point or might choose not to take up your offer at all. The preferred outcome, of course, will be our business making a sale.
How CRM Helps Customer Satisfaction
The difference between these stages with a CRM and a regular sales funnel is collected and interpreted data. The collected data reveals trends and interests of the customers and those that interact with our brand, allowing the business to create targeted offers for them. These targeted offers can enable the users to get more utility, as it appeals more to what they want, increasing satisfaction as a result.
The CRM can also help improve the overall customer experience through the sales funnel. Information obtained with the CRM can hint at issues potential customers are experiencing. The better the user experience, the better their satisfaction, no matter how good a product is; if the service is terrible or delayed, the consumer may consider other options.
The CRM also improves the efficiency of the sales funnel; the right CRM can help you automate specific processes. Automation reduces manual effort, increases output, and saves needed time. As we expressed in the introduction, if a business can keep its customers happy, it is certain to keep thriving in the long run.
Selecting The Right CRM
There are a lot of CRMs out there; selecting the right one can be a hassle. On the other hand, choosing the wrong one can also be catastrophic. There are many factors to consider. The most important thing is to know what your business needs.
HubSpot, Freshworks, and Pipedrive, for example, offer excellent CRM for businesses and their varied needs. Pipedrive offers very flexible prices good for startups. The flexibility of pricing brings true power to SMBs. In addition, Pipedrive helps better the sales funnel with its sales management software.