For any business to run successfully; two crucial assets must not be ignored at any cost:
With the presence of such assets, CRM software is gaining upper hand. How?
Some exciting statistics support the above-given fact:
- For a humble investment of $1, CRM implementation offers a profit of $8.7, which is more than a 9x return
- Lead nurture have a higher conversion rate of 47% in a CRM ecosystem
- With CRM, customer retention rate increase up to 27%
The given proofs demonstrate that CRM software is getting wider acceptance among different industries to boost their performance manifold. Out of it, Salesforce CRM is becoming most popular. Do you know what they are? Then go through it:
- Best CRM to collect and use customer information precisely
- It is user-friendly so that companies with the non-technical background can use it
- It offers a scalable and comprehensive CRM solution
- It provides user resources in the form of webinars and educational posts
After getting access to such benefits, the manufacturing industry is taking the help of Salesforce CRM consulting services to enhance their business fortune. How did it all start?
Let’s see the blog and find out results that will make Salesforce CRM an ‘apple pie’ in the eye of a business person.
Why is Manufacturing Eyeing for CRM Software?
In the first place, the main objective of designing CRM software was for customer-centric business only. It implies delivering personalized services to the customers to assist them in making their purchase decisions easily.
Manufacturing companies initially ignore CRM software as they have dealt primarily with suppliers and B2B business. But now onwards, they have started to adopt a customer-centric approach so to sustain themselves in the competitive world.
There has been continuous evolvement in the market of CRM systems, and many companies are opting for Salesforce CRM to vouch for better revenue.
Another factor why manufacturers are eyeing Salesforce CRM is COVID-19. Yes, it’s true!
The given pandemic came with a brute force that had nearly destabilized the manufacturing sector across the globe. It exposed several weaknesses that made the value chain look feeble. However, it led to the creation of numerous opportunities such as digitalizing operations that made manufacturers embrace CRM at a large scale.
Even numerous leading manufacturing organizations are now leading in taking the help of Salesforce consulting services in the USA to cope up with the current pandemic in a better prospect.
So, if you are the owner of a small business or yearning to develop your new startup; then these are nine reasons that will make great sense for you to invest in the Salesforce CRM software and reap fruitful results.
A. Lower Sales Costs to Increase Generation of More Revenues
As per the sources from Marketing Metrics, there are only 20% chances to convert a new prospect than re-selling the product back to the old customers (chance stand as high as 70%).
What does it imply? It shows that to make money, you also need to spend money! However, what happens if you get a magical stick to reduce spending more funds to earn money?
Yes, there is a mystic wand in the form of Salesforce CRM softwarethat reduces customer acquisition costs to offer manufacturers better visibility into:
What is the additional result? The outcome is that there are repeatable sales with more revenue generation that also led to surging in the retention rate among the customers.
Additionally, CRM software also offers automation that excessively helps manufacturers in:
- Closing deals at a faster pace
- Order processing and preparation of quotes easily
So, what is the end result? Low production cost and high sales revenue!
B. Customer Service Gets Ramps Up
It is a well-known fact that if there is a better customer experience with a product so, more than 50% of the clients will not mind paying more for the services.
With CRM implementation, the entire team gets centralized access to the complete interaction history of their customers. It will then help in offering better personalization to offer good customer service.
What’s more, it also helps garner smooth interaction with the customers so that they will come back again to avail services and repeat the procedure number of times. Therefore, if there is a proactive response from service providers to the queries of the customers, they can win their hearts and achieve notable success in their business.
C. Assist Manufacturer in Making their Business Ready for Future
CRM software is renowned for helping enterprises to adapt to the changing conditions and make them future-ready. So, manufacturing companies are taking the help of Salesforce consulting companies to make their business agile through:
- Identifying the gaps that hinder the progress of the organization through the following questions: Does the roadmap of your company align with the current industrial trend? If not, how to remove the given flaws? If you are successful in finding answers to these questions, it will be helpful for you to identify steps and make way for a more customer-centric environment
- Business differentiation is done through offering customer experience in a better perspective way. The entrepreneurs must think about their customers, get feedback from them and then craft a perfect customer strategy. It will help them to prioritize experiences to make their products live in the hearts of the customers forever
- Evaluate your current priories by accessing your investments in technology. It will help you deliver a good experience to the customers through an active CRM platform
Thankfully, manufacturers have a CRM platform in the form of Salesforce manufacturing cloud that helps in providing valuable data. It happens through collaboration with different teams and gets a secure view of the incentives and sales agreements successfully.
D. Successful Forecasting of Demand and Plan Promotion via Sales Data
What is the most crucial aspect that defines CRM software? It allows cutting and slashing sales data to bring out the best products for your customers! There are certain customer insights that Salesforce CRM software helps the manufacturer to extract out:
- What products are immensely popular among the customers?
- Who can sell them in a better way, and why?
Moreover, reports from reputed authorities have revealed that they can also assist manufacturers to forecast demand, evaluate trends about decrease and increase in year-wise sales, and also identify low and peak seasons with great accuracy.
Now with the support of Salesforce Einstein, making a forecast is easier than before due to adding AI into the stake. With more companies getting knowledge of the given technology, the inclusion of AI-based Salesforce forecasting strategy is getting momentum.
E. Salesforce Helps in Setting ‘Service-as-a-Revenue’ Mindset
Today’s manufacturers are future-ready and so have more concern about products, software, and services. So, they are focusing on a single revenue model known by the name called servitization. With the help of it, manufacturers are integrating support and spare part services to make it an irreplaceable part of their value proposition.
What does it indicate? It shows that manufacturers, with the help of CRM software, are now demonstrating the new mindset: ‘service as revenue’. It is a new servitization business model that helps enterprises in the manufacturing industry to convert customer services into a new center of revenue. Thus it results in the creation of additional revenue for growth.
So, adopting the new business models gives manufacturers an upper hand to migrate their systems on the cloud infrastructure. It will, in turn, help them to prepare for decades and always remain ahead of their peers.
F. Foster Agility by Integrating Sales and Operations into Cloud Platform
If there are sudden changes due to an increase in demand, manufacturers must take the futuristic approach. For more than 80% of manufacturers, effective reaction to the rapid changes in the market is made possible due to CRM software.
With the help of Salesforce CRM, moving data from sales and operations to the cloud is possible now. There is no need to store data on multiple systems, and thus, manufacturers can save them from and get easy access to recent trends and insights to make smarter buying decisions.
In addition, the manufacturer must focus on becoming a data-driven organization by unlocking data using silos for making it readily available whenever the need arises. The given integration then helps in focusing on smarter interactions all over the system.
One notable example is the enhancement in automation that allows manufacturers to emphasize more on the strategic works such as nurturing upsell and cross-sell opportunities and even identifying new and potential leads to increase business fortune.
G. Retaining Customers is Much Easier Than Before
Manufacturing CRM software is now a hub for global customer data whether it has been collected from the customer support center or service team. The data includes purchase history, service subscriptions, and even interaction between customers and manufacturers.
Ideally, all Salesforce consultants provide CRM software services that assist departments such as, sales, marketing, technicians, etc. to collaborate to offer the best customer services. It is becoming a new norm as many studies have shown that a better alignment between service, sales, and marketing is leading every manufacturing brand across the globe.
The satisfaction rate among the customers is high when the repetition of complaints is low. When technical specialists present in the company collect all the details about warranty status and purchasing of the product, the sales team collects the data and makes them equipped with all the sound selling arguments.
In such a manner, responding to irritating customers is easy and faster that helps in delivering the outstanding experience they will never forget in their lifetime. Besides, it also contributes more towards greater customer loyalty.
At a Glance
CRM is a whole technical world, and residing it to just a software upgrade is maligning its image. When you talk about organizational transformation, Salesforce is one of the leading CRM solutions. From enhanced productivity to smarter collaboration, the implementation of Salesforce is an indispensable investment your business will always remain indebted for!
For any sector (whether it is manufacturing), customers are vital to remaining successful. So, the manufacturer must put lots of effort to satisfy their requirements in the best possible way. Therefore, applying Salesforce CRM will help you achieve the given feat and start adding all-around value to improve your business efficiency.