The true value of a CRM system or changing software can only truly be judged on a company’s ability to integrate the software into current ways of working and culture. As Gartner clearly states “Organisations that believe that only a technology investment is needed to solve their problems are likely to fail.”

It is similar to an ill-advised strategic decision, a poorly selected CRM system or inadequate investment of resource will often then see the adoption of a CRM system struggle to on-board users and ultimately not deliver the anticipated results.    

However, when the necessary due diligence and research are executed correctly, CRM has the potential to deliver on a diverse range of initiatives, including: acquisition, retention, on-boarding and cross-selling or up-selling. As Alexa Bridges identifies, CRM (when implemented and used correctly) can help to assist with the following points:

• The odds of selling to a new prospect is only 5 to 20%, but the probability of selling to an existing customer is 60 to 70%.
• It cost 10 times more to sell a new customer compared to cross-sellingor up-selling to an existing customer.
• Most companies don’t have a process for re-engaging and nurturing leads once a sale is complete.
• Retaining 1% of your best customers can improve your bottom line by 17%.
• CRM can offer an average return of £5.60 for every £1.00 spent.

All of the points have a direct correlation with the best practice CRM use and the delivery of tangible results that impact the bottom-line. With correct use, CRM can transform your business.

If you would like a conversation with one of our trusted consultants to evaluate the options available to you today – please contact Marketing Answers on 0844 7454 588 or join us for a CRM Clinic Webinar on Friday 23rd October