Sr. Content Marketing Manager
You’re here, so we’re assuming you’re probably already somewhat familiar with CRM software.
Just in case, as a refresher, CRM stands for customer relationship management. CRM software is a type of system that manages your customer data and sales funnel (such as an automated sales funnel) and serves as a hub for your customer relationships.
A customer relationship management system, aka CRM platform, can be an indispensable tool for lead generation management. Generating leads isn’t easy, so having a CRM tool to help make the process more manageable is incredibly valuable.
But a CRM system is more than just a lead generation tool. CRMs are integrative platforms that really help with the whole process from start to finish.
They help you get more leads, convert more leads, and create exceptional customer experiences. And since 84% of customers agree that customer experience is just as important as the services and products a company offers, that’s not something you want to ignore.
There are lots of CRM benefits. But one of the most significant advantages, in our humble opinion, is the relationships part. It’s the “R” in CRM, after all. CRM technology can help make sure your customer relationships are consistent and strong throughout the entire customer lifetime, and that’s pretty spectacular.
Here at Copper, relationships are sort of our thing. We believe relationships are what matter the most in lead generation and developing long-lasting, loyal customers. That’s why we created our CRM solution around the notion of relationships being central to thriving organizations.
When you choose a CRM application like Copper, you can really take charge of your lead generation management and address customer needs. Let’s chat about 7 other benefits of using CRM software for lead generation management.
1. Improve and simplify lead nurturing.
Lead nurturing is the process of engaging with a lead (or an existing customer) with relevant content at each stage of the buying journey. Lead nurturing is essential because you can’t just get a lead and expect to pitch and close them right away. Most of the time, it takes a strategic approach full of personalized emails to nurture a lead to the finish line.
A CRM application makes lead nurturing a breeze by keeping track of prospective customers’ details and recording the entire sales journey, so you know exactly when a lead needs more engagement.
For instance, with Copper CRM, you can use tools like lead scoring to help identify the leads who are ready to purchase and those who need more nurturing. You can also tag, filter, and sort your leads by any criteria and see the whole history of your relationship with any given contact at any time—making it easy to nurture your leads and existing customer relationships.
2. Easily track the sales process.
Some people like to think of CRM software as a piece of sales technology. It’s easy to see why. A CRM system lets you track the entire sales funnel from beginning to end. With CRMs like Copper, you can even create a sales pipeline and see your entire sales cycle from a birds-eye view.
Using reports, you can easily track important sales metrics, conduct a win-loss analysis and more. With Copper reports, you can immediately look at your opportunity pipeline and sales performance data and generate a source performance report showing which lead generation metrics are working and which aren’t.
You can also do some pretty in-depth sales forecasting with our Forecasting KPIs report. Simply using a CRM system can improve your sales forecasting accuracy by 42%. With a forecasting report at your fingertips, the accuracy is even higher.
3. Enhance internal communication.
If your in-house relationships are struggling, then your customer relationships will be, too. CRM software enhances internal communication and makes it easy for your marketing and sales professionals to communicate with each other—no marketing and sales couple’s counseling required.
It’s easy to keep everyone on the same page when all team members have access to the same customer data. With Copper, we take in-house communication a step further by being the only CRM built for Google Workspaces.
This CRM integration makes it simple for your in-house team to communicate about leads and see tasks inside a suite they’re already familiar with. There’s no lengthy learning curve. Whether you’re a sales rep or a marketing exec working on a marketing campaign, you can jump right in and communicate with the team about customer needs and current lead generation efforts.
4. Boost workflow automation.
One of the most critical CRM benefits is the automation and time-saving possibilities. In fact, just using an operational CRM increases business efficiency by 73%.
With Copper, you can easily set triggers, actions and conditions to eliminate time-consuming, regular tasks (no coding required). For instance, you can have a salesperson automatically alerted and assigned a task to follow up with a lead every time a lead is moved into a specific part of the pipeline.
CRMs are built for workflow automation, marketing automation, and automating the entire lead nurturing and business process. Workflow automations really just take the manual labor and time out of generating leads and building customer relationships.
5. Improve lead conversion rates.
The goal of lead generation and building meaningful customer relationships is to increase conversion rates, and just having a CRM can boost conversion rates by up to 300%. That’s an incredible increase. It’s more potent than reinventing your company’s social media strategy yet again, that’s for sure.
With lead nurturing, automation, access to in-depth customer information, detailed reports and better in-house communication, it’s clear why CRM software can increase conversion rates so dramatically.
We know conversion is central to ROI and CRM efficacy, which is where using a product analytics platform like Correlated can be useful. Paired with our reports, our customers have the power to use CRM data analysis to increase conversions and add value to their business. This approach is especially valuable for companies following a product-led growth strategy.
6. Increase customer retention.
What’s the point of lead generation if the leads don’t stick around? Generating leads without focusing on customer retention is a lot like trying to fill up a bucket with holes in it. CRM software can increase customer retention by up to 27%.
And a 5% increase in customer retention can boost profitability by 25-95%! So, CRMs are valuable in this arena. With constant access to customer data, it’s easy to improve customer support and increase customer satisfaction, which inevitably impacts retention rates.
In fact, having and using a CRM platform can increase customer satisfaction by an average of 74%. Who doesn’t love happy customers?
7. Provide better customer service and strengthen the customer relationship.
The customer relationship really begins with that first customer interaction, right at the start when they’re just a potential customer or a new lead. CRMs allow you to personalize interactions and increase customer service from that very first touch.
When email sequences and follow-up calls happen automatically, and your sales manager can address issues right away, your customers will inevitably get better support. Improved customer service and enhanced customer experience are the keys to increasing customer loyalty and strengthening the customer relationship.
At Copper, we’re obsessed with customer loyalty and building more meaningful relationships. We’re all about embracing the “old-school” approach to connecting with leads and customers. It’s why we created a CRM software that eliminates unwieldy databases and focuses on purposeful collaboration and connection.
All CRMs have the potential to make managing customer data and improving customer service easy. Copper CRM makes sure it’s easy from the outset.
CRMs turn lead management into relationship management
From prospect to loyal customer, CRMs’ primary function is to help you manage your contacts better. With reports, segmentation and a complete history of a prospect at your fingertips, CRMs are like supercharged Rolodexes – complete with automation.
These 7 CRM benefits are just some ways a CRM system can benefit your lead generation management. Ultimately, going with a cloud based CRM like Copper is a fantastic way to power up your lead management and improve customer relationships.
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