Lead generation has become the most significant part of business growth today. You will need a proven lead management strategy to generate leads; this is where a CRM system can help. A report shows that over 85% of CRM users have found an improved customer experience.
Looking at the figure, you will know the importance of using a real estate CRM system for client management. For lead generation, you will need a client management system.
An efficient CRM system can store information about leads and track their journey through the pipeline. Concisely, a CRM system can help you build better relationships with your leads and contacts.
Let’s discuss how a CRM system can improve a Company’s lead management process.
Better Client Relationship
Using a CRM system can help build better client relationships with customers. The system can impact many client relationship aspects like customer satisfaction & retention and cross-selling.
According to a study, CRM systems can improve customer retention by 47% and customer satisfaction by 47%. It also impacts cross-selling, which can improve by 39%.
A CRM system can take your relationship with customers to another level. It makes the demanding task of streamlining communications with potential and existing customers a breeze.Moreover, the system can benefit your business by optimizing and centralizing your client communications.
Better Segmentation
Do you know what is the most complex part of a customer database? It is customer segmentation. Segmenting contacts into target audiences is something you will need to work on. However, the good news is that CRM can help you with customer segmentation.
You can breakdown data by criteria and categories, making it simple to create a segmented list. If you want to use the segmented list in specific customer marketing campaigns, you can do it without effort.
Plus, when you know whom you are addressing, you can customize your tactics, sales offer, and sales pitch. In short, a CRM system can help you understand who is being ambivalent and cold as ice.
Improved Lead Distribution
Lead distribution is a significant stage of lead management, and CRMs can be beneficial here as they involve getting the information quickly. Through the process, you can break or make relationships with potential clients.
A CRM system can simplify this stage of lead management. Apart from automating processes, your sales team has all the information they need regarding leads at any time.
Moreover, you can use your marketing data to pair it up with a suitable sales rep. Even if you have an efficient system, you might spend time finding leads lost in the shuffle. CRM system enhances multi-territory sales processes, which saves time.
Improved Customer Retention
Customer retention is significant in keeping your customers engaged and loyal to your business. Integrating with a CRM system can boost customer satisfaction and retention levels.
According to a report about, a 5% increase in customer retention can boost profits to 90-95%. CRM brings agility to data management and keeps data organized.
With the help of CRM, you can identify which platforms produce the best results and use those platforms to connect with customers.
Moreover, it optimizes your customer retention strategy and gives you a clear understanding of what works and what doesn’t. You can learn about repeat purchases and develop a marketing plan by tracking metrics through CRM.
Improved Internal Communication
How can your company handle leads efficiently? Well, when there is communication between the marketing and sales teams. It is when CRM can come into play.
CRM system enables seamless communication between marketing and sales teams. You can handle all the leads duly by using a CRM system for lead management.
For instance, your sales rep can see a lead status at any time, allowing them to classify those leads that need attention. Collaborative efforts can make a difference in how you handle leads, and CRM can help with internal communication.
Improved Data Privacy
Data privacy has become the internet buzzword today and a must to GDPR’s (General Data Protection Regulation Standards). If you have a CRM that does not comply with this function, you will waste time and effort.
A CRM with GDPR functionality can send auto notifications to new contacts about data storage. Plus, you can document and obtain your contacts’ permission to use their data.
You can set up rules for updating personal details for different contact groups. Ideally, the system can help you manage customer subscription and email communication preferences. A GDPR-enabled CRM can build trust as you handle sensitive customer data.
Transparent Sales Process
Consolidating customer data is vital for quick access. CRM consolidates customer data in a single place so that multiple people can access the data.
More so, each person involved in the sales process can see contacts as soon as they are updated. The best part is that this transparency helps improve lead management, allowing you to see who’s working on what.
With access to customer data, you can ask any co-worker about customer information – if need be. The scenario prevents people from getting lost in their tasks or forgetting about team members. CRM system keeps you in the loop regarding customer information.
Analyse Data
If your company leverages customer data to drive decision-making, you can gain a competitive advantage and reduce business costs. According to research, businesses that use data can experience a profit increase of 9-10%.
Also, 90% of companies say data-driven decisions are significant for business growth. With the CRM data analysis tool, you can gather sales, marketing, customer, and product data and use it for your business growth. Further, you can access data from any device, so you don’t miss out on anything.
CRM is the way forward
Lead management is vital in turning prospects into customers, and CRM can increase customer retention and sales. Apart from streamlining your sales cycle, it provides valuable customer insights. With the right CRM system, you can scale the trajectory of your business. Thanks to CRM systems, organizing leads and contacts is no longer a task. If you are wondering what will be the best CRM for your brokerage business? Try mymagnet.io