CRM (Customer Relationship Management) software is nothing new but there are still many financial service firms out there that do not have one. The benefits of CRM is nothing to be ignored.
A CRM software helps to store your contacts’ data such as interactions, personal information and sales status in order to track the relationship that is being built with each person.
Without a proper CRM software available for your business, it can be quite difficult for the sales team to keep track of their contacts. Even if they are able to do so, a tremendous amount of time is spent on their own system and does not provide anywhere close to the same value as what a CRM software can offer.
There are still salespeople who are using outdated Excel sheets to organize their contacts. But to truly optimize the storage and tracking of your contacts’ information and to help you sell better and faster, it may be time for a change.
CRMs are so powerful that once you start using one that is suitable for your financial service firm, you will wonder why you never took advantage of one in the first place.
Here are 4 benefits of CRM for your Salespeople
1. It decrease mundane tasks and provides insights
The greatest asset of an excellent CRM is the capability to record all interactions with every single contact. Less time is spent trying to gather all the information about your contacts as everything is centralized in one location. You can log all of your activities such as emails sent and phone calls.
A CRM also goes beyond recording your daily activities. It can collect your contacts’ online activities data such as webpage visits, email opens and clicks, form submissions and many more. By knowing their interaction with your online content, advisors are better equipped to sell as they know what is important to their potential customers.
2. It provides a collaboration platform between co-workers
It is unfortunately common to see businesses not having the most up-to-date information about their contacts. We clearly see this when a company works with several files such as an Excel sheet. They may work with one common Excel file at first, but once someone makes a copy on their computer and decides to make changes and upload an update later on, we lose track of which version is the most accurate.
Imagine 5 sales staff making their own copy of the file on their computer and deciding to upload the file when they are done updating. It would be a huge hassle to figure out which is the right one that includes the most recent changes.
With a CRM, everything is in one location and everyone could access the CRM simultaneously. No more multiple versions and working with old data. This will tremendously help improve the collaborative work as anyone can simply go into the centralized CRM Database to find the information they need.
3. It helps with organization & personalization
It is important for everyone to be organized when it comes to dealing with prospects, leads and customers. Having a CRM software in place will ensure that all information about your contacts are stored into one centralized location. No more digging through documents, emails and files to find the information you are looking for about a specific contact.
A CRM software will also ensure that your data is well organized that is personalized to you. Contrary to creating your own Excel sheet or equivalent, the view may not be optimized for everyone. Not all data is relevant to everyone. A good CRM software will allow you to decide what data you want to display whenever it is accessed.
4. It provides accountability
The sakes team have multiple tasks that they need to fulfill with their contacts. As you could guess, keeping track of each task could become quite difficult. Imagine having 30 leads that you need to follow up with on different days at different times and also with different means of communication? It would be next to impossible for an Excel sheet or email calendar to help ensure you complete each task.
In a CRM software, you can set as many tasks as you want for each contact. You can set reminders, categorize tasks in different lists and even assign them to the appropriate people to make sure that all your contacts are taken care of in a timely manner.