Driving Revenue through CRM Integration
by Nitin Gupta, on Jul 3, 2017 9:04 AM
There’s ample evidence that CRM (Customer Relationship Management) integration can boost the marketing function by improving lead generation, increasing sales, enhancing customer experience and measuring end-to-end results. However, despite the possibility of significant gains, businesses often face resistance when they are in the process of integrating a CRM system. What is also true is that this resistance has to be overcome since CRM integration is no longer a choice; rather, it’s an urgent need for most businesses. Here’s how CRM integration can help businesses to drive revenue.
Unlocking possibilities beyond lead generation: The traditional marketing process is focused exclusively on lead generation. The marketing team finds marketing qualified leads (MQLs), hands them over to the sales team, and the search begins all over again for new leads. This closed loop continues in a never ending cycle, preventing the marketing team from exploring new opportunities. Lead generation may be important, but in today’s highly competitive marketplace, every revenue opportunity needs to be identified and pursued. This is where CRM integration can prove useful. With CRM integration, the marketing team can improve customer engagement, keep track of the sales lifecycle and make the best possible use of branding opportunities. For example, relevant emails, product brochures, or landing pages can be presented at the right time to clients and prospects. This can be done at any stage of the sales lifecycle. It will help unlock new revenue opportunities as well as improve customer engagement and brand awareness.
Data-driven approach: Individual inputs and feedback can be biased, but data does not have such limitations. Smart marketers follow a data-driven approach and helping them do that most effectively is CRM integration. The top-to-bottom story would present a true picture only if it is backed by accurate, updated and relevant data. This is the key to the success of marketing strategies, campaigns and initiatives. CRM integration helps by enabling real-time data sharing as well as in-depth data analysis, which enables leaders to make critical approximations and predictions. CRM integration channels data from all phases of the client engagement lifecycle, which allows for improved decision making. It also helps achieve a better understanding of customer needs, which can be used to create and launch new campaigns and initiatives.
Increasing accountability for the sales team: Consider the scenario wherein a prospect has downloaded the corporate brochure after entering their contact details. However, the sales team does not follow up in time and the lead goes cold. These things may have gone unnoticed in the traditional system, but with CRM integration, the responsibility of the specific sales rep can be clearly identified. Even if a lead has a minimal chance of success, sales reps cannot use it as an excuse to justify their delay in contacting the prospect. With CRM integration in place, the sales team could be made more accountable for every potential revenue generation opportunity.
Improving customer engagement: CRM integration can be useful in improving customer engagement. It’s common knowledge that retaining existing customers is more cost-effective as compared to making new customers. CRM integration can help track conversations beyond the handoff and even the win stage, allowing marketers to strengthen the relationship and explore new opportunities to drive revenue.
For most businesses, CRM integration has become a necessity. Businesses that ignore this need are likely to find themselves at a disadvantage. On the other hand, businesses that devise smart CRM integration strategies will secure varied benefits such as improved synergy between sales and support teams, improved customer engagement, greater brand awareness, and increased revenue powered by rising sales.