It’s imperative that a modern business should be aiming and planning for a faster growth. Unless you achieve the requisite growth velocity, you could unfortunately see your business in its due course to the starting point.
Let’s examine the challenges and optimal way of achieving a faster business growth.
There are different challenges in different growth stages. You can compare a growing business to a satellite being launched into the orbit. In-order to maintain a high velocity growth, you will require specific fuels suited for the different stages.
In this Info-graph, we will discuss how a CRM Software could be your growth platform to enlarge your customer base and generate consistent income. We will also address the multiple challenges that you need to overcome.
Without further delay, here’s the infographic.
In the infograph, you can see that we have focused on five different stages of growth. Below, we will examine each of the multiple stages on a one-on-one basis.
Stage – 1
Marketing automation improves Conversion for 80% of business
Commonly, most start ups struggle to build their initial pool of customers. A marketing automation platform can dramatically increase your rate of customer acquisition.
Here, let’s examine the stats for a min.
Marketing automation increase conversions by 77%
Marketing automation solution can increase your conversions by 77% for almost 80% of business.
According to research firm venture beat, marketing automation impacts 80% of the total business. It may even increase the conversion by 77%.
In retrospective, this means that the lack of automation may cause 80% of the businesses to lose 77% of their sales acquisition.
Stage – 2
In the 2nd stage, you should focus on leveraging the initial pool of customers to expand your prospect circle.
Again, let’s examine the underlying stats for a minute.
84% of B2B decision makers kick off their buying processes by getting referrals.
Only 11% of salespeople ask for referrals. [Source: Dale Carnegie]
89% of the sales People are not able to reach 84% of B2B decision makers due to lack of referrals.
An integrated referral program can dramatically spike-up the rate of acquisition among your target customers.
Stage – 3
The secret of success in modern marketing is appealing to individual audience taste.
Here’s the most important stat in this arena.
Marketers have a 760% increase in revenue from segmented campaigns. – Campaign Monitor
The CRM platform enables you to build customer and prospect database. It empowers you to run focused and segment campaigns that can generate a higher ROI.
Stage – 4
All successful sales people are known to establish long-term relationships with their prospects.
These are the critical facts that may help you make a positive difference.
1. Long-term opportunity management can increase your sales Acquisitions by 83%.
2. The purchase cycle of companies runs up-to an year.
3. Almost, 80% of Sales people need an average of 5 follow-up calls after the pitching.
4. Most sales people give up after two calls.
The common reason for this discrepancy is the lack of an efficient opportunity management system. The CRM could help you store, manage and retrieve each customer and prospect data on any device. It also helps you generate maximum result from your existing customer database.
Stage – 5
Customer Relationship Management
Today, the most critical part of running business is to retain the existing customers. It’s calculated that increasing customer retention by 5% can increase overall revenue by 95%.
A CRM platform delivers you a platform to manage consistent customer relationships.
With the right processes and insights, it’s absolutely possible to bootstrap your business from ground zero to the sales velocity. The CRM platform helps you organize and leverage the best use of your surrounding opportunities. It also helps you acquire and streamline your best opportunities.