Assignment 2: Benefits of CRM in Sales, Service

and BI
GROUP No. 2 :
A002 - Awanish Kumar
A010 - Siddharth Mahajan
A018 - Soumya Ranjan Nayak
A026 - Prateek Gadhiya
A034 - Karthik Kannan
A042 - Vishal Sinha
A050 - Ankit Maurya

Benefits of CRM in Sales

1. Enjoy safe storage-Using CRM, salespeople are able to keep all of their contacts, sales
possibilities, activities, and scheduled projects in a single area that is both safe and conveniently
located, and they are also able to access the database easily from numerous places. You shouldn't
worry because none of the information you've provided will be lost.

2. Plan and manage time efficiently-CRM enables salespeople to optimize their daily schedules and
prioritize their to-do lists, ensuring that customers are not forgotten and that key leads are followed
up with in a timely manner. Actually, CRM makes it possible for salespeople to spend more time with
clients, which in turn results in a greater number of deals being successfully concluded and a more
robust customer base.

3. Staying up to date -Sharing calendars, document templates, and providing email connectivity are
some of the features that the CRM offers to members of the team so that they may discuss updates.
When salespeople get together to discuss their methods and approaches to selling, they can figure
out which ones are the most successful. Through the use of CRM, communication between sales
managers and field staff can be improved.

4. Be on time for new sales - CRM helps sales people determine the optimal time to get in touch
with clients by recording all of the contacts they have with customers. For example, product swaps,
contract extensions, and the resale of freshly produced goods and services are all examples of this.
Because of all that has been said, your odds of making a sale have increased.

5. Streamline sales-Your sales system will be able to close more deals thanks to the increased
efficiency that CRM brings to the whole sales cycle, and everyone on the team will be able to meet
their goals more rapidly as a result. Automating order processing and fulfillment with CRM allows
sales teams to reduce production costs while simultaneously increasing sales.

6. Know what customers really want-The fact that all data pertaining to customers is saved in the
CRM makes it easier for salespeople to analyse customer wants and predict difficulties — and do so
in a timely manner. All of this contributes to a rise in both consumer satisfaction and brand loyalty,
as well as margins of higher profit.
 Assignment 2: Benefits of CRM in Sales, Service
and BI

7. Reduction of administrative duties-CRM relieves sales teams of the majority of administrative

responsibilities and cuts down on or eliminates certain processes that are repetitive but less
profitable. The customer relationship management system (CRM) maintains product and pricing
information, generates action reminders, and guides salespeople through the sales process step by
step.

8. Save Money-Even though CRM systems aren't exactly inexpensive, they can end up saving you a
lot of cash. CRM has the potential to assist eliminate errors made by salespeople (for example, in
orders or prices). The amount of time and money required to fix these errors might be significant. In
the end, it comes down to the insignificant details, such as saving money on clutter and frequently
losing notes, which are made possible by the fact that every new piece of information may be stored
securely on the computer.

Benefits of CRM in Service

1.Improve Relationship with Customer-One of the main benefits of CRM is improved relationships
with your customers. A CRM system manages all your business contacts and stores important
information about them across all channels, including demographics, purchase history, and previous
communications.

Additionally, a CRM system makes it easy for anyone in your company to access this information.
Each interaction between a team member from your company and a customer is an opportunity to
boost customer satisfaction. A CRM system makes it all possible.

2.Cultivating new Customers-Customer relationships thrive when they are nurtured. Nurturing
requires good communication. There can be many steps in the communication process along with
many opportunities. CRM provides a holistic view of the customer journey. They let you see every
piece of communication with your customers and potential customers. From this viewpoint, you can
easily determine the next move—an essential capability when cultivating new leads and nurturing
existing customers.

3.Better Customer Retention-Apart from being a great asset in finding and nurturing your potential
and new customers, CRM is also a great tool for keeping your existing customers happy. A CRM
system comes up with a handful of “customer retention” benefits: it will help you keep your
promises by reminding you about appointments or when to send follow up emails.
 Assignment 2: Benefits of CRM in Sales, Service
and BI

Benefits of CRM in Business Intelligence

1.Detailed Analysis-It’s one thing to have plenty of data about your customers, but you need to
know what it means and how to use it. CRM software typically has built-in analytic capabilities to
contextualize data, breaking it down into actionable items and easily understood metrics. Metrics
such as click-through rates, bounce rates, and demographic information allow you to judge the
success of a marketing campaign and optimize accordingly.

2.Centralized Database-Another thing CRM software does best is providing a centralized

database with all information on your customers, making it easily accessible to anyone in your
company who needs it. This makes it easy for a sales representative to see what products a certain
customer is interested in, for example. If the customer has previously interacted with the company,
the CRM will include records of that interaction, which can inform future marketing efforts and sales
pitches. This saves your employees the time of digging through old files and records, and it makes for
a better and more productive experience for the customer. 

3.Automated Sales Reports-Your team can easily collect and organize data about prospective and
current customers using the CRM software’s dashboard and reporting features, which allow
employees to automate and manage their pipelines and processes. The CRM can also help your team
members evaluate their performance, track their quotas and goals, and check their progress on each
of their projects at a glance.