Home > Insights > Top 20 CRM Transformation Benefits

Top 20 CRM Transformation Benefits

Top 20 CRM Transformation Benefits

By: Ciopages Staff Writer

Updated on: Feb 25, 2023

CRM Transformation Benefits

Before we get excited about the top 20 CRM Transformation Benefits, let us stipulate that not every company will derive all or most of the benefits outlined below. The volume and the value of the CRM transformation benefits vary by size of the company, the competitive factors, customer expectations, sales and service model. However, the key determinant is what has been the CRM Transformation Strategy and the areas of focus. So please do not be miffed if you are only seeing 2 or 3 or 5 of the CRM transformation benefits.

Before you derive the benefits of the CRM transformation, you must have an approach, a well-defined strategy and a roadmap to get there.

Top 20 CRM Transformation Benefits:

    1. 360-degree view of the customer: A full spectrum view of the customer, their profile, purchasing patterns and any other attributes will be of immense value to a company. This is one of the greatest benefits of a success CRM transformation.
    2. Data-driven sales and service interactions: When data can alert a salesperson – like a CD (certificate of Deposit) coming due in a week; or a milestone birthday of the spouse of a key client – it can lead to better relationships and better sales and client satisfaction.
    3. Optimal handoffs across digital, physical and mobile channels: A customer may work on a transaction at work and leave it midway and then pick it up on the train on his/her mobile device, and complete on a home laptop at night. A seamless transition and data sharing/saving, and context passing could be extremely valuable. Imagine, if a transition can be made to a physical channel (such as a retail store or a branch).
    4. Decision support: Which deal to chase or not to chase is left to just gut feel. While intuition and experience are awesome to have, supplementing and complementing it with hard data can drive better decisions.

The volume and the value of the CRM transformation benefits vary by size of the company, the competitive factors, customer expectations, sales and service model.

  1. Personalized Experiences: Ability to provide a personal experience to a client based on his/her preferences when they interact with the sales and service teams. Things as trivial as how to address them (Ms. Austin or just Jane) or what language they wish to speak or what time should you call to more serious things like content customization, price customization could lead to the superior client experience.
  2. Reducing churn and attritionBetter customer relationship lead to lower attrition and churn, thus saving the company a lot of time and effort in finding replacement customers.
  3. Increasing wallet share thru cross selling and up selling: A good CRM system should allow for cross selling and up selling thus resulting in profitable sales and a better share of client wallet.
  4. Acceleration of the sales process and support process: Shaving a few days or weeks of a long sales process or a customer incident resolution can yield higher revenue throughput and lower costs.
  5. Cross-functional team collaboration to facilitate sales and service: Today, serving customers is not just a sales or service person’s job. A well-designed CRM system can improve team collaboration.
  6. Customer delight in every interaction: The aspirational goal of customer delight in every interaction is a signature CRM transformation benefit.
  7. Better customer segmentation: Segmenting customers by several attributes and grouping them helps create campaigns and serve them better.
  8. Customer account profitability analysis: A salesperson focusing on a profitable customer is worth more than wasting time on an account that is dollars down the drain. “No profit zones” could be avoided.
  9. Effective Sales Forecasting: Modern CRM systems allow for more streamlined sales forecasting.
  10. Visibility and transparency into the prospect to customer value stream: One of the benefits of CRM transformation is visibility and transparency, from the hitherto opaqueness of the sales process.
  11. Developing customer champions and advocates to increase net promoter score: Helping transform customers into evangelists is possible thru better relationships.
  12. Higher productivity for sales and service teams: All the tools, templates, techniques and training offered as a part of the CRM transformation will help improve productivity.
  13. Data mining for intelligence, insight, and actions: CRM transactions and interactions can be improved by crunching past data combined with external data feeds.
  14. Access anywhere and anytime with mobile and offline modes: Sales people can be more productive – for example on a call in a remote location – if they can access the product catalog offline and submit a price quote and sync with the system when they are connected.
  15. Lower operational cost: By reducing friction in interactions and transactions, a CRM transformation helps lower operational costs.
  16. Higher potential customer close ratio: Imagine if instead of 2 customers converted out of 10 prospects, the ratio increases to just 2.5 customers out of 10 prospects.

CIOPages.com can help you with your CRM transformation journey with a variety of resources.

Licensing Options:

We keep the licensing options – clean and straightforward.

Individual License: Where we offer an individual license, you can use the deliverable for personal use. You pay only once for using the deliverable forever. You are entitled any new updates within 12 months.

Enterprise License: If you are representing a company, irrespective of size, and intend to use the deliverables as a part of your enterprise transformation, the enterprise license is applicable in your situation. You pay only once for using the deliverable forever. You are entitled any new updates within 12 months.

Consultancy License: A consulting or professional services or IT services company that intends to use the deliverables for their client work need to pay the consultancy license fee. You pay only once for using the deliverable forever. You are entitled any new updates within 12 months.

Product FAQs:

Can I see a Sample Deliverable?

We are sorry, but we cannot send or show sample deliverables. There are two reasons: A) The deliverables are our intellectual property, and we cannot share the same. B) While you may be a genuine buyer, our experience in the past has not been great with too many browsers and not many buyers. We believe the depth of the information in the product description and the snippets we provide are sufficient to understand the scope and quality of our products.

When can I access my deliverables?

We process each transaction manually and hence, processing a deliverable may take anywhere from a few minutes to up to a day. The reason is to ensure appropriate licensing and also validating the deliverables.

Where can I access my deliverables?

Your best bet is to log in to the portal and download the products from the included links. The links do not expire.

Are there any restrictions on Downloads?

Yes. You can only download the products three times. We believe that is sufficient for any genuine usage situation. Of course, once you download, you can save electronic copies to your computer or a cloud drive.

Can I share or sell the deliverables with anyone?

You can share the deliverables within a company for proper use. You cannot share the deliverables outside your company. Selling or giving away free is prohibited, as well.

Can we talk to you on the phone?

Not generally. Compared to our professional services fee, the price of our products is a fraction of what we charge for custom work. Hence, our business model does not support pre-sales support.

Do you offer orientation or support to understand and use your deliverables?

Yes, for a separate fee. You can hire our consultants for remote help and in some cases for onsite assistance. Please Contact Us.

error: Content is protected !!