4 amazing CRM facts
CRM’s have been helping various businesses achieve higher results for many years. The Forex industry is no exception. It’s hard to imagine any big Forex broker without this software today. In many ways thanks to its accessibility, CRM software has become the biggest software market in the world and is expected to reach more than 80 billion dollars in revenue by 2025.
However, there are still many myths and misconceptions about it. That’s why we decided to gather some of the most amazing facts on the subject, that will help to set the record straight on the software’s value and are bound to impress any CEO.
Fact 1 – CRMs bring in a higher ROI
According to Forrester, a properly implemented CRM can generate a 245% ROI for your business. Impressive, right? More than that, you will see the first results just after 4 months! To do this you simply need to have clearly defined goals, a strong project team and the right software type for your business.
Because CRMs have no language barriers and are customisable, you are able to reach out to a bigger global audience. This allows you to significantly increase the number of your potential sales opportunities and personalise the software to fit your company’s business needs.
On the other hand, thanks to multiple integration possibilities, CRM owners can offer a bigger portfolio of features to their clients, providing them with all the tools required. Forex brokers, for example, can easily offer their traders access to both MT4 and MT5 platforms, as well as various payment gateways, which can all easily be integrated inside one Forex CRM.
Fact 2 – CRMs help you to form better Customer relationships
Software Advice discovered that 74% of businesses using CRM software were able to form better relationships with their customers, while Ready Cloud found out that it can also lead to a 26% increase in customer retention.
This is mostly thanks to the fact, that a CRM software allows you to gain a 360-degree view of your customer and a better understanding of what their needs are. All of your customers’ data is stored inside your system, it is easy-to-access and can be formed into reports. Because of this, your team can easily manage it and use it for forecasting to create a more personalised approach for each client.
The centralised data approach also guarantees that the response time will be quicker and won’t be duplicated, which will help raise the client satisfaction level and increase customer loyalty. Forex companies can create full customer profiles for each trader, with all their documents and can verify, manage and monitor them, without the need to constantly contact the traders themselves.
Fact 3 – A lot of sales managers are still wasting time by dealing with administrative tasks manually
In their State of Inbound 2018 report, Hubspot discovered that 22% of salespeople still don’t know what CRM is, and 40% still use informal methods like spreadsheets and email programs to store customer data. This shows us that managers simply don’t understand what they are missing.
A CRM software helps raise productivity, saves time and allows managers to prioritise tasks more efficiently. It also allows them to turn their focus on their customers, rather than on unneeded paperwork. It collects all business crucial data 24/7 and helps to generate different analytical reports that can help your company make better strategic decisions.
So, basically, it’s your key strategic hub that lays out the foundation for better internal communication and budgeting and defines the type of relationship you will have with your clients.
Fact 4 – CRM is the key to more sale
Salesforce’s research revealed that businesses that leverage CRM software see sales increase by 29%, sales productivity increase by 34%, and sales forecast accuracy increase by 42%. This is mostly because a CRM software allows you to identify potential leads easier, helps you to track their full life cycle and improves forecasting and opportunity management.
Your sales team no longer needs hours to gather data on the customer’s buying history, demographics or preferences. They can easily view which campaigns brought results and which didn’t, for more effective future targeting. Everything they might need to make their customer’s experience with your company better, can be found in the CRM.