You might think that Sales Automation and Customer Relationship Management are two separate terminologies but to tell you the core truth, they are the axle of the same wheel. This is an innovative technology that automates sales and gathers important customer interaction data to upsurge the sales process.
Sales Automation – Defining the Concept
Sales automation is an empowering technique that not only focuses on maximizing the sales process but also an effective strategy to improve the productivity of your employee. Sales automation streamlines time-consuming activities by automating repetitive tasks of sales documentation and offering a seamless platform to go easy with work. Sales representatives can handle the tasks of inventory control, regular price listings and sending email reminders hassle-free, concentrating more on lead generation.
Frost & Sullivan recently conducted research which revealed that the Salesforce Automation market is expected to grow to $4.13 billion by 2018.
Another stat from Lenskold Group informs that 63% of the business enterprises are successful in outsmarting their competitors with the implementation of the sales automation process.
With the passage of time, business priorities are also changing. Gone are the days when entrepreneurs focused only on improving ROI with tactical marketing strategies. But today most businesses are looking forward to generating more leads and converting those leads into potential customers.
Are you ready to take down the important digital ingredients that will help you implement the correct sales automation technique in your business? If yes, then let’s move ahead and discuss the first secret.
Integrating Artificial Intelligence Related Salesbot
If you are already a big fan of futuristic technology, then I’m sure that Artificial Intelligence is no longer an alien term in your dictionary. The business competition has traveled beyond traditional methods and is pitched in the digital landscape. With AI becoming the next generation of automated tools, business enterprises are quick to pounce on the opportunity to integrate this future-based technology. Taking from the stats point of view about 38% organizations have already started to use Artificial Intelligence. This number will exceed 62% by 2018.
Use of Chatbot
Artificial Intelligence has paved the way forward for the implementation of the chatbot. This has transformed the customer management and interaction process, enhancing the experience to a higher degree.
According to a survey, about 60% of the respondents say that they have used a chatbot to interact with business during the last year. Chatbot offers you the scope to interact with the customers in real-time without employing any physical customer service representative.
Adopting the Sales Funnel Technique
In the next step, you can adopt the Sales Funnel Technique where you need to analyze, narrow and follow the sales leads. This helps to create a brand awareness, which would increase the lead and then you can take up actions based on the results.
At the very outset, you have to create awareness about the product, which would develop a strong foundation for the entire funnel. If you fail to create awareness, the funnel will collapse. Therefore, you need to hire an adept sales team. According to Slideshare, 90% of the customers will come across your business when they are ready to buy the product. So, your aim is to keep on generating leads at the top of the funnel so that you can convince your buyers.
Major Gains in Sales Automation
Now that we have become familiar with the key elements of sales automation, let’s get into its major benefits.
- Enhanced Productivity of Sales
- Offers the business a competitive advantage over others
- Real-time data access with respect to lead generation and sales report
- Managing proper customer-based records with easy traceability
- Preparing a foreground strategy for future sales generation
- Optimal Utilization of Available Resources
- Increased Efficiency of Staff Members
What is Customer Relationship Management
Customer Relationship Management or CRM is advanced software, which helps to improve the interaction with current potential customers using data analytics and getting acquainted with the consumer’s buying habits. The primary aim of the business organization is to enhance customer experience and undeniably, the CRM software can play an indomitable role to achieve that end.
According to a report, the CRM software has turned out to become the largest software market globally with the prediction that its revenue would reach around $80 billion by 2025.
Similarly, Digital Trends states that the CRM software can augment the customer experience with one year of implementation.
Research by SlideShare reveals that 65% of the sales reps who have incorporated the CRM software saw an increase in their sales quota, whereas 78% of the non-adopters failed to reach their target.
Besides being the biggest software market worldwide, one of the other interesting facts that are enticing business enterprises to invest in CRM software is alluring ROI. According to Nucleus Research, the average ROI for every dollar spent on CRM is $8.71.
How CRM Can Get Me into the Zone of Profit
Helps to Centralize All Customer Data in One Place
Are you still using the spreadsheet method to update the customer’s data, finding it a hard nut to crack? Well, CRM is the perfect answer to resolve your problems. It helps to centralize and consolidate all customer data in one place, which makes it easier for everyone to access the information. This may include all contact information such as emails, phone numbers, mailing address, and social media communication, and purchasing history.
According to Software Advice, 74% of firms agree that CRM software has given them better access to customer data.
- Accelerate the Selling Process
Since the CRM software has reduced the manual work of typing data entries, it enables the sales reps to focus more on selling the products. You can create a standard sales process with the support of CRM so that you can inch into a closer deal with the customers.
CRM being an automated software will offer you the scope to think innovatively to flourish your sales and derive at more or less an accurate estimate regarding the future of the sales market.
It also accelerates the process of accurate decision making according to market trends. You get an insight into real-time on-location data.
- Allows to Remain Focused On Customers
Customer Relationship Management has been a vital tool that lets business organizations pay on customers. This is because you almost have information on customer purchasing habits and behavior. You can coordinate with the marketing department and deliver the best content, which can allure the customers. This also allows delivering a more personalized experience to potential consumers.
With the CRM software, you can anticipate the customer’s requirements in advance before they can visit the site.
According to Capterra, 47% of the CRM adopters have expressed their happiness that the software has given them the scope to improve customer satisfaction.
Offering Robust Data Security
Since you are storing sensitive and confidential customer data to upscale your sales and business profit, you have to equally focus attentively on providing bolstering data security. CRM software is a centralized system. This allows only authorized people to have access to important data and keep a close tab on a single channel. This will increase the trust factor of the customers that their data won’t be leaked.
Sales Automation and CRM – Two Business Boosters of the Future
Both sales automation and CRM have witnessed staggering growth in recent years. If you read the blog, you would come to know that they are the major forerunners of your business offering almost similar features and advantages. Remember, you are doing business in the age of technology where 80% of the customers search for the products and services online and where the margin or error is very narrow. Both CRM and sales automation are potent vehicles that will help you get a 360-degree overview of your potential customers.