What Is The Salesforce Importance Of A CRM System To The Business?

Question 5 - CRM strategies. On average, it costs an org six times more to sell to a new customer than to sell to an existing customer. For a mid-size sports equipment distributor, sales for the past 3 months have dropped by an average of 20% due possibly to a poor economy and some negative publicity regarding a defective product line. The co-owner wonders how implementing a CRM can help one understand and combat the decline in sales.

What is CRM? CRM software started as a collection of simple interactive address books of business contact, with useful conversation notes, and evolved to include features for generating lead, managing accounts and sales, and tracking marketing leads and opportunities (“Best CRM Software of 2017,” n.d.). Salesforce

A research describes CRM as an approach to manage a company’s interaction with current and potential customers, to analyze data about customers’ history with a company, and to improve customer relationships, focusing on retention and sales growth (“Social customer relationship management,” 2017). Ross, Beath, and Sebastian (2017) argue that in implementing a customer engagement strategy that develops customer loyalty, trust, and passion, companies need an integrated platform of distinctive capabilities to offer efficient and seamless multi-channel customer experiences, as well as responding rapidly to new customer demands, and personalizing relationships based on customer insights. CRM provides such an operational backbone which centralizes sources of financial, customer, and product information, and provide reliable back office shared services and end-to-end global supply chain

Salesforce believes technology can help small businesses to compete effectively. Salesforce is cloud-based, scalable, easy to add features and to maintain without costly infrastructure. It provides single version of truth with centralized storage of customer, sales, and leads information, and is fully mobile access enabled. Its intelligent marketing automation helps to focus resources on the value-added tasks, while a common data platform helps to build strong relationships across social, web, and email channels, as well as customer call centers (“Run and grow,” n.d.). Its customers include Amazon Web Services and T-Mobile. Salesforce has helped AWS scale its operations through a decade of rapid growth, from inception to millions of active customers and T-Mobile achieved a 70% reduction in work effort in order placement by its