Don’t waste time with details when you can drive for new revenue
When considering the return on investment of a CRM – customer relationship management system – think about how the system can save you time and money.
A study by Pace Productivity suggests a sales rep spends only 23% of their time “selling.” That’s time working on the actual sales. That means, according to Pace, 77% of the time they’re not selling.
We all know the major complaints of sales reps. Too much time on administration. Too little time for lead sourcing. Inability to research data on demand to support a sales call. The inability to quickly get back to a client or prospect with an appropriate quote.
Administration (21%) order processing (14%) service (13%) and planning (5%) all contribute to the sales rep taking time away from the function they do best – selling.
That’s 53% of a sales person’s time, mired in activities far removed from their expertise.
What better reason to adopt a repeatable sales cycle. What better tool than a CRM system to keep the sales process on track and provide easy access to all required information.
With a CRM system like Microsoft Dynamics CRM set to the requirements of your business, you can have all the customer information from contact history, to financial transactions to planned correspondence set within your customer’s profile. By severely limiting the necessity to reach out to other internal departments for customer data, it will save administrative, planning and processing time.
Add the benefits of marketing automation and timely customized customer messaging sent from within your CRM and before you know it you’re right on top of customer relationship.
Now think about how saving this time can impact your bottom line.
Simply put, if a sales rep spends 23 % of their time selling, and generates $1 million a year in sales revenue, then one per cent of their time is worth $43,478.26.
Again, that’s just 1% of added time to selling.
Now your business has different metrics. You may sell smaller products but more of them. You may sell larger products but only one or two a year. In either case, time spent on physically managing your customer paperwork, your service and processing is time away from directly chasing the sale.
And that time could be used for engaging new prospects or leads, customer-facing activities or building smaller accounts into larger ones with closer, customer-directed follow-up.
Jibe Cloud Services (Jibe365) is a Microsoft Partner and a Cynergies Solutions Group company focused on helping our customers achieve a world-class business solution that can help reduce costs and increase profitability by organizing and automating business processes that nurture customer satisfaction, loyalty and retention. For more on Jibe365 or Microsoft Dynamics CRM please email info@Jibe365.com