1. Better customer relationships. The more you know and interact with clients (or customers) the more your clients know your quality service & care about them. This enables you to build a much stronger connection and a deeper relationship with your clients.
2. Improved ability to cross-sell. The more you know about your clients’ requirements and needs, the better able you are to provide the solution to their future problems.
3. Increased team collaboration. This is where many firms fail to train their executives to use the CRM, so they fail to reap the benefits of the CRM.
They know the benefits of CRM implementation, but will not practice or use the tool themselves.
4. Improved efficiency in serving clients. Again, the more you know about the client’s interaction, the better you can serve them. If everyone using the CRM to record their customer interactions, it will help their subordinates are able to serve the clients better with the knowledge of what has been previously discussed.
5. Greater staff satisfaction. Having an accurate and up-to-date CRM that everyone uses and has access to helps employees solve client problems. Doing so makes employees and clients happy and it helps to grow business.
6. Increased revenue and profitability. Once everyone learns and uses, the CRM productivity increases, sales workflow cycles decrease, you could provide additional products and services to your clients and client satisfaction increases.
7. Cost savings. While the start-up of CRM software is expensive and time-consuming, over time the benefits far outweigh the costs. Your sales team will be able to schedule better meetings, phone calls with prospective customers in the same geographic area. Client-service reps are better able to resolve a client’s concern. You now have a central client and prospect database that everyone can access rather than everyone keeping a separate spreadsheet or contact database on their individual computer.
8. Less client attrition. When a client is engaged with only one member of a professional services firm, the risk of attrition is 50%. When five or more partners are involved in a client relationship, the risk of attrition falls to less than 5%.