Why Customer Relationship Management (CRM) is a Smart Investment

Why CRM is a Smart Investment

I'm happy to introduce Bob Sullivan, CEO of InfoGrow, to the SyncShow blog. SyncShow strategically leverages partners with complimentary service offerings in efforts to bring measurable results throughout all stages of the sales process. Inbound Marketing is the science of qualified lead generation; so it made sense that we find an established partner to help manage leads once they have been generated. SyncShow and InfoGrow are able to work together to provide the highest level of sales growth opportunity to our clients. Thank you again, Bob, for guest posting today! 

Gartner, an information technology research and advisory company, reported that CRM software will be the top priority for additional spending on enterprise applications around the world this year. So, with all of the negative sentiment towards CRM Systems, the question is why would there be this level of growth?

Three realizations have been made by organizations and this drives the continued use and expansion of CRM system. First, there remains a continuing need of organizations to focus on customer retention and satisfaction. One must ask how is maintaining a higher level relationship with a customer possible without shared information across the organization?

Second, for growth, an organization must attract new customers. Sales are no longer just the responsibility of the sales team. Today, everyone in the business plays an increasingly greater role. The integration of marketing for lead generation and service for resolution of an issue with feedback to the account manager is not a nice-to-have, but essential.  

Third, growth of social media and marketing automation tools to manage the e-marketing and inbound lead generation requires data.  More importantly it requires the management of incoming questions and results. Getting and keeping sales and marketing on the same page is essential not just for lead generation but during the entire sales process.

None of the above initiatives will be effective without a shared database – CRM. It is safe to assume that your competitors know this and that they are talking to your customers. A CRM system is helping them grow and keep their client base.

By making an investment in CRM you are putting yourself on par or ahead of your competitors. CRM should be thought of as an asset that is leveraged for sustainable growth.

Oftentimes when CRM fails it is because individuals lost sight of their goals either due to lack of understanding of the CRM System or a lack of acceptance. CRM is expensive, but the return achieved from a fully functioning, effective CRM is much greater than the initial investment. Effectively managing customer relationships is a journey, not an end game, because customers' needs change and competitors adapt. The need to stay in front of key customers is not going away, it is growing.

The true value of CRM derives from enabling users to take the CRM information and turn it into knowledge, which can then be used to make better decisions. Marketing users will be able to know how to make better decisions regarding who to target. Sales reps will be able to make better decisions about where they spend their limited time. Customer service users will be able to make sure that the information they learn about a customer is effectively being shared with both sales and marketing.

If you are interested in learning more about investing in CRM, please call 800-897-9807 ext 224.