The Customer Relationship Management (CRM) system, also known as sales management software, is the number one tool many businesses and salespeople turn to for keeping track of their interactions with customers and prospects.
Among the many reasons why this system practically became the industry standard, including the ability for a company to increase its base of loyal consumers, one reason stands out in particular – the average return on investment.
As Nucleus Research reports, the returns for every dollar invested in CRM have increased from $5.60 to $8.71 between 2011 and 2014. Such stunning progress is expected to continue this year as well, since Gartner anticipates that the CRM market will be worth more than $40 billion. It already broke the record back in 2015 with a 12.3% growth.
However, we live in a digital world where 125 million US consumers now own smartphones, which 62% of them use to make purchases online. So it’s no wonder that more marketers turn to personalized marketing email strategies. Given that this is yet another benefit CRM provides, sales reps can expect an additional and consistent email marketing ROI of a $40 for every $1 spent.
Having said that, not all CRM software systems are the same. This is why it’s important to know your options when it comes to selecting the sales management software for your business. Here is the list of essential features to look for in CRM that will support your company by providing only the best sales management practices.
Process-Driven Sales Management Software Features
- User-friendly dashboard – Simplified access and system navigation.
- 360-degree customer view – A complete view of the customer interactions with an organization.
- Sales forecasting – An intuitive interface that offers potent analytic tools for accurate sales analysis.
- Lead management – Tracking and storing all customer information collected from various sources (including social media) for increasing lead conversion.
- Geo-tag capabilities – Tracking and evaluating the efficiency of both sale reps and the entire department.
- Invoice management – Full control over the order/invoice processes and payment.
- Sales pipeline view – Leverage opportunities by following, customizing, and optimizing the entire sales pipeline.
- Contact management – A single database and document flow automation for utilizing information in real-time.
- Product management – Relevant and up-to-date product catalogue management.
- Mobile integration – Access sales at any moment from a remote location.
For more information about sales management software, just follow the link.