The sales activities of a company are generally associated with all the processes that start with prospective lead generation right up to closing the deal with the customer. Along the path to this conversion are various barriers that must be tackled head-on and with a clear view, in order to convince the customer to believe in the utility of the offerings and purchase a product or service.
Some of these barriers include lack of product awareness, not enough trust for the company, hesitance for purchasing, etc. This is where a sales team comes into picture – they must track all the prospective leads and filter out the hot leads, then work diligently to inform the customers about their offerings and finally deliver on a sale.
Taking it a step further, a sales team isn’t traditionally equipped to handle all these activities and do it efficiently. To help them manage the processes more effectively, a Customer Relationship Management (CRM) system can be adopted. This pre-sales CRM software provides productivity to the sales activities and takes a huge load off the sales team by allowing automation of most, if not all, menial tasks in the organization. This results in a more focused sales team, who can better allocate their resources to schedule meetings with any investors and customers who are likely to get into business with them.
A company gathers all its leads or prospective customers from any marketing channel(s) that are setup for it. These may constitute people who’ve visited the company’s website, or expressed interest by contacting them through e-mail or phone, etc. A CRM software allows the sales team to store relevant information for all these leads, such as name, age, address, amongst others, allowing the team to assess them for quality and the chances of effecting a successful sale.
Not every customer who seems curious or interested in the company’s offerings is bound to end up conducting business with the company. This is why the sales team must work with the given information to ascertain which lead is more inclined to buy than the rest. Using a CRM software, leads can be sub-divided on the basis of potential, such as hot leads, warm leads or cold leads. Doing this lets the sales team focus on the hot and warm leads, and work behind-the-scenes, although with lower priority, to improve the status of cold leads.
Facilitate Business Transactions:
Once a potential lead is locked on for business, a sales executive must punch in the order to confirm the purchase. Instead of using unnecessary documents that must be then submitted to the higher authorities for approval, the executive can simply record the order in the CRM database and obtain approval on the spot. This method also improves customer satisfaction and paves the way for repeat purchases.
Create and Study a Sales Funnel:
When a marketing campaign has been initiated and completed, a company can collect all the data for the purposes of investigating the success and potential flaws of the system. This is generally represented by a sales funnel, whose parameters are set on the basis of the sales model used. The sales funnel is usually tiered to represent the stages of a sales process and the progress of a lead at every stage. Wherever the fallout of leads is the largest, it is the most problematic area of the cycle. Hence, a company can utilize a sales funnel to cyclically improve their sales and marketing activities.