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A CRM can be the backbone of a B2B organization. When the capabilities of their CRM are maximized, it’s hard to see how strategies and process would work without one; what they can offer to every department is invaluable, and for B2B marketing and sales departments, a CRM can easily revolutionize day-to-day life and overall results. But we’re ahead of ourselves already- we haven’t even said what CRM stands for! Here’s everything you need to know on CRMs, and how to implement them into your marketing and sales to produce incredible results.
What is a CRM?
CRM stands for Customer Relationship Management. This is the approach by which you manage your organizations interaction with current and potential customers. When we use the term “CRM” as a noun, such as we are now, it most often refers to a specific software or system used to track and manage this initiative.
A good CRM allows you to import and categorize data, creating an individual account for each specific organization. These accounts can then be assigned to members of your team to manage and regularly updated with new details and notes. Some CRMs can be integrated with other softwares you use, to make certain initiatives easier- such as automated emailing.
How can a CRM help B2B marketing?
We now know what a CRM is and its basic functionality, but it can do so much more than just act as a data library for your team. There are plenty of ways a CRM can benefit a B2B marketing department, here are some of our favorites…
- It can reduce mistakes made- It’s so easy in marketing to accidentally target a customer, someone already in conversation with your sales team or someone who’s asked to be unsubscribed. When working hard to share your message with the world, a few discrepancies can slip through the gaps, especially when different marketing channels crossover the same data. A CRM can prevent this; it can keep track of who your clients are, who’s in play and who has requested no contact. This stops you sending multiple marketing messages to the wrong people. This in turn improves your reputation, as you always appear competent and fully in control of your data and how each department uses it. This perception of competence is crucial for word of mouth recommendations and referrals, not just for prospective customers but for your current clients too.
- It can segment data for targeted marketing- A CRM lets you sort your data by factors such as industry, location, seniority, and many more, so you can achieve a stronger marketing initiative by easily personalizing communications to suit the business needs of your audiences. If your product has varying use cases that adhere to differing industries, then you can use your CRM to easily tailor messaging to heighten product value. You’ll see more interest in your product, for little extra effort.
- You’ll have better quality data- Good data is crucial to any marketing department. Whether it’s for prospecting new leads or nurturing warm ones, you need the data to be valid and up to date. A CRM system makes it easy to keep track of all the data you have, and ensure you regularly check and update data where appropriate. Especially when organizations chop and change so often- people move job titles, they marry and change names, or the business goes through a re-brand. In the B2B world, your marketing is only as good as the data you hold- so use your CRM to ensure they’re both at the top of their game, and you’ll not only increase the leads you generate, you’ll also improve their quality (meaning they’re more likely to sell!).
- You can get modern with automation- Automation in B2B marketing is starting to take off, but the idea of automating processes can be a huge step many are scared to embrace with a fear of getting it wrong and losing their marketing success. But with a CRM, it’s all made much easier. Automation is often based on workflows, when someone completes an action- they open a specific email or download an asset, a new action is then automated- they’re sent a follow up email, or another resource to look at. This keeps their interest piqued and continues to engage them with your brand, so they’ll be more inclined to inquire about your services. Most CRMs allow you to tag customer records based on certain behaviors, which in turn can trigger your automated responses. Many automation software’s and marketing systems offer integrations with popular CRMs, allowing you to see personalized, behavior based marketing happen without regular human intervention. If you play your cards right, you can be marketing 24/7, even when no-one is in the office!
- Marketing and sales can become one- There’s no doubt B2B marketing and sales teams are best at producing results when they’re teamed up as one. Aligned teams are 67% better at closing deals- simple as that! With lead generation, response time is everything. If B2B organizations can respond to an inquiry in less than 5 minutes, they’re 4000% more likely to qualify that lead. A CRM allows data to be transferred in real time. When marketing receives a lead, they can get it assigned instantly to a sales rep with all the data and information neatly organised for that follow up call before the 5 minutes are up. This can have a hugely positive impact on your conversion rate of lead to sale- getting there first is paramount!
What about in B2B sales?
- It prevents prospects stagnating- Salespeople often want to work their hottest prospects and leads, the ones they deem most likely to end in a sale. However this can leave other hard earned leads out to dry up, they receive no further contact from your salesperson, so your product falls off their radar. A CRM allows you to set time sensitive notifications for every lead’s account, so you never let any leads sit still for too long. In sales, you can leave no stone unturned- the same goes for leads- you need to chase them all!
- Data is easily shared- The beauty of a CRM lies in the ease of keeping everyone in the loop. For example, if a member of your sales team goes on holiday for 2 weeks, what happens to all the calls and meetings they need to arrange? You can’t put sales off because they’re away, but you don’t want leads sitting stagnant and losing interest. A CRM elevates this problem. In seconds you can transfer active accounts to different team members, complete with all the notes and details of what’s happened before, what topics they want to discuss and any vital information the salesperson has entered. All you team need to do is pick up the phone!
- Sales diary management is easy- Most CRMs have a diary function, so you’re able to plan your whole day out linked to the precise leads and prospects you’re working on. This not only boosts efficiency- as your team know exactly who needs calling and where their details are, it also allows sales managers to easily see what they’re team are working on, and how close they are to target.
- Better KPI reporting- All this boosted organization leads to a better grasp on KPI reporting. Sales targets are crucial to business growth- you don’t gain revenue, and you can’t progress. Key performance indicators are what drives a B2B sales team to improve, so a better grip on KPIs, means a stronger sales team, therefore- more sales closed! All thanks to your CRM.
The world of B2B is difficult. A CRM is the secret to making it easier. Cutting corners is dangerous, so don’t do it- just get some help. Lead Forensics is a lead generation software for B2B marketing and sales experts that integrates with all mainstream CRMs, and even comes with one of its own! Our ground-breaking software identifies anonymous business website traffic, and provides contact details and a breakdown of each visitor journey, so you can generate plenty of hot, sales-ready leads and follow up with a tailored approach instantly. It also comes ready equipped with Lead Manager- an inbuilt CRM so you can assign new leads to team members and keep track of their progress, from start to sale. Book your free demo today to find out more!
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