The fast-moving high-tech sector is constantly dealing with exponential growth, new entrants, mergers and acquisitions. For these businesses to thrive, they need to build a great relationship with their customers and also provide a better experience for their future prospects. All of this is possible with the implementation of a powerful Customer Relationship Management (CRM) system, like Salesforce.
A next-generation CRM system provides businesses with all the data necessary to keep customers happy and engaged. Not only do CRM systems make sales representatives’ lives easier, but it also allows the business to create result-oriented strategies.Not only do #CRM systems make sales representatives’ lives easier, but it also allows the business to create result-oriented strategies @nuvemconsulting. Click To Tweet
Let’s dive into 5 ways high-tech companies can improve their sales:
First and foremost, you need to invest in a CRM.
Your prospect and customer data is one of the most valuable assets in your business, and that’s why you should invest in a top-notch CRM system. Implemented properly, a great CRM will help sales reps identify prospects who are more likely to convert. By accumulating all the data regarding the prospect within the CRM, the sales rep can communicate in a more effective manner, resulting in a reduced sales cycle. Even better, pair your CRM with a fully integrated marketing automation solution, such as Pardot, to provide insights into website activity and email engagement.
Second, use the CRM to provide a better experience to your customers.
Companies can use a CRM system to give them valuable insights into their customers and prospects. Along with marketing automation, a CRM can be customized to send notifications to sales reps as soon as someone has clicked onto your website, providing as much information as possible for your pitch to them. This data guides sales reps towards well-informed evaluations and provides a better experience to the customer.
Third, use CRM data points to define sales processes.
Organizations with clearly defined sales processes and stages experience shorter sales cycles and higher close rates. Using a CRM system to define sales stages as data points can help sales executives identify flaws in your methods and make tweaks to improve. Customizing your CRM to guide sales reps through every step in the process, as well as data they need to validate in order to proceed, will help build a more effective sales process.Check out this post on how #HighTech companies can improve their #sales by @nuvemconsulting. Click To Tweet
Fourth, work to reduce costs by upselling, cross-selling and signing renewals.
Creating strategies and initializing marketing campaigns to capture new prospects requires a significant investment and human effort. However, selling to your existing customers with data from the CRM allows you to better upsell, cross-sell and provide renewal options. Instead of relying on a manual approach, use a CRM system where all the necessary information is just a click away. Build automation into your renewals process so you can better forecast future recurring revenue and ensure sales stay on top of new opportunities at existing accounts.
Fifth, retain high-performing employees.
Research from Accenture finds that the top 20% of sales reps bring in 62% of business revenue. To retain them, companies should invest more time and money to ensure that these employees are appropriately compensated, trained and engaged because the cost of losing one of them is high. Providing them with a top-rate CRM to track their pipeline, goals, commission and expenses is yet another way to keep them happy.
If you’re looking to improve your sales processes, implement Salesforce or even to train employees on how to properly use Salesforce, Nuvem Consulting is here to help. Let us simplify the way you generate leads, manage your sales pipeline and connect with customers for a streamlined experience. Start building your foundation for growth today with Nuvem Consulting. Let’s get started!