The Top 9 CRM Benefits You Should Know

The modern business collects a lot of data from many different channels.

But unless that data is organised, easy to analyse, and made actionable, it’s next to useless.

That’s where CRM comes in.

The benefits of CRM systems are far-reaching and vary depending on the business, department, and use case.  

Let’s have a look at why CRM adoption for European businesses is set to reach 90% in the next five years.

Benefits of CRM

1. Keep a unified, holistic view of your data

Centralised data collection and management is the basis for all CRM benefits, from improving customer relationships to streamlining core business processes and beyond.

CRM collates all of your customer information and cross-functional data, making it simple to visualise, act on, report, and optimise.

Your business can keep a high-level view of its performance, organised via lists, charts, graphs, kanban, and beyond. For example, you can populate displays for how many leads you’re bringing in, opportunities won, or team activity.

Each team can work smarter with insights from the CRM, too, like knowing which leads are worthwhile, sales forecasting, and beyond.

2. Gain a better understanding of your customers

CRM empowers your business around a single source of truth, providing a 360-degree of every customer with profile information (their name, email address...), demographics, business information, interaction history, and beyond.  

With this information readily in sight, customer-facing teams can make informed, confident decisions to improve the customer experience at each step.

As the CRM tracks each time a customer interacts with your company across channels, it uncovers customer trends, preferences, and habits, ensuring proactive communications across the board (think: marketing campaigns with more impact or support materials that anticipate needs).

In the effort to create lasting relationships with our customers, getting to know them first is one of the top pros of CRM.

3. Improve customer retention and loyalty  

Remember that acquiring new customers is anywhere from 5-25 times more expensive than retaining existing ones.

To get there, seamless, personalised, and empathetic customer experiences are key differentiators — and the foundation for customer loyalty.  

In fact, Twilio’s State of Personalization report tells us that more than half (56%) of consumers say they will become repeat buyers after a personalised experience, with this number increasing by 7% year-over-year.

Improved personalisation leads to improved customer satisfaction, increased retention and advocacy rates, and positive word-of-mouth referrals.

As many as 74% of businesses see an increase in customer satisfaction with a CRM, and 47% say their retention rates have improved since implementation.

With comprehensive customer information and your teams on the same page, your business can create delightful, tailored customer experiences that increase retention and loyalty.

4. Enhance internal collaboration  

Picture this: your sales, marketing, and customer support teams seamlessly working together. With centralised data, metrics, documents, notes, and tasks — CRM makes better collaboration simple.

Sales can tap into marketing's latest campaign data, support can anticipate customer needs based on past interactions, and everyone can be on the same page.  

No more siloed information or missed opportunities; instead, every team can move faster around shared insights, acting in sync to improve the customer experience.

5. Attract and convert more quality leads

You likely have more than one strategy in place to generate leads — maybe you’re producing blog content, running ad campaigns, or hosting digital and in-person events to grab attention.  

But maybe you’re not quite sure who to target or what actually interests them.

With CRM insights into who they are, their preferences, and engagement history, you can create targeted campaigns that actually resonate with the right people and guide them toward conversion.

As you collect more leads, the CRM system then serves to help you identify which leads are promising — giving them a score based on how well they fit into your target customer. This helps make sure that sales teams invest time and resources on only the most promising leads.

6. Make more sales

Customer Relationship Management software also has a notable impact on businesses’ bottom line.  

By providing insights on which leads are most worth it and how to improve interactions at each stage of the funnel, your sales team can effectively guide prospects to conversion faster — and at a higher value.  

In fact, CRMs can increase revenue by 41% per sales rep, and 81% of businesses see an improvement in sales.

Plus, by helping businesses better understand their customers, CRM makes it easier to uncover new opportunities for upselling and cross-selling.  

7. Generate reports to guide decision-making

With cross-functional data organised in CRM dashboards, you can easily generate in-depth and at-a-glance reports to ensure informed, staller customer experiences.

You can create reports on which channels you’re bringing in the most leads, marketing conversion rates and ROI, number of opportunities in the pipeline, revenue generated customer service trends, and beyond — guiding your decisions at each step.

Users can track their individual performance to see how they’re faring with their goals, and managers can use these reports to track quotas and keep a clear understanding of overall performance.  

8. Improve efficiency with automation

Automating your processes is another of the best advantages of CRM. In fact, our State of CRM survey identified it as the top answer (42%) that businesses of all sizes look for in terms of CRM outputs.

Your team faces a lot of time-consuming, error-prone, repetitive tasks — from data entry to emails to opportunity follow-ups. CRM frees up users’ time by automating all that.

CRM enables marketing teams can trigger timely, personalised marketing campaigns from a visitor’s actions and reps can skip email and call logging to focus on more high-value tasks.  

The software further boosts up efficiency with automatic notifications, scheduling, reminders, and reporting, too.

9. Increase your business’ scalability  

The best CRM systems are designed to scale with businesses, accommodating an increasing volume of data and user interactions. So, as you grow, your CRM grows with you.

This scalability ensures that CRM remains a valuable asset in the long term — adapting to your evolving business needs and technological advancements.

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Build better relationships with a CRM  

So, there you have it, the top 9 benefits of Customer Relationship Management.

At the heart of it all, centralised and organised CRM data helps businesses build more impactful relationships — internally and externally — and take their growth to new heights.

See what CRM can do to help your business connect and grow better — try out a free demo of efficy’s CRM today!  

Learn more:

• How to implement a CRM in an insurance brokerage?
• Why should you use a CRM insurance for your company?
• What is it and why do you need a CRM for business?
• CRM applications in a company’s day-to-day business