Whether your alarm monitoring company is up and coming, or you’re a security dealer who has been established for a number of years, if your company isn’t using a CRM platform to manage and track your sales and help market your business, you’re most certainly leaving revenue on the table. A CRM system can be greatly beneficial for your business in terms of sales, marketing, and company organization.
What Is CRM?
CRM stands for customer relationship management. A CRM system is used for sales, marketing, and as an internal database for your company. First, let’s dive into the sales portion of a CRM platform.
Sales
Consider a few of these statistics:
- According to Nucleus Research, the average return on investment for CRM is $8.71 on 1$ spent.
- According to Harvard Business Review, reducing your attrition rate can increase profits anywhere between 25% to 85%.
- According to Pardot, 79% of marketing leads never convert to sales without a CRM platform.
- According to Salesforce, a CRM can improve lead volume by 28% and lead conversion by 30%.
For sales personnel, a CRM system can be an internal database where all current customer and potential lead information is stored. One of the biggest factors for security industry dealers losing out on sales: missing information. Something as simple as an employee forgetting about a contact sitting in their email inbox, or a spreadsheet that hasn’t been manually updated, can leave potential customers on the table.
A CRM platform can help your business properly maintain customer contact information. Information like email addresses, phone numbers and their businesses, can all be collected, stored and maintained within a CRM platform. It can track all the interactions with each customer with a detailed history of those interactions, so you can see who you should be reaching out to. The platform also maintains data on the length of your relationship with a customer and how they found your business.
When it comes to sales, not having to do so much manual data entry ultimately leads to your salespeople being able to do what they do best: sell your product or business. And for newcomers joining an experienced sales team, CRM platforms can be used to standardize the sales process to bring new employees up to speed quickly.
Marketing
A CRM platform can be just as an important tool for marketing as it is for sales. It can streamline the marketing process and make sure effort is being put forth in the areas that actually matter.
A CRM records all the conversion history from anybody that interacts with your company. This means marketers can see how customers are interacting and where they should focus their efforts on the company website to drive more conversions.
You can also segment your customers based on a number of different factors including form submission, geographical location, lifetime value, industry, etc. This allows your marketing team to focus on exactly who you want to target in your marketing campaigns.
Speaking of campaigns, you can use a CRM to automate email campaigns, so you don’t have to worry about gathering email recipients from a number of lists and then individually sending out emails. All of this can be automated right in your CRM reducing unnecessary labor for your marketing team.
Should Your Alarm Monitoring Company Use a CRM Platform?
If you want to maximize your potential leads, upsell your current customers and reduce attrition rates, then yes. There’s no need to keep massive spreadsheets that are seemingly impossible to maintain and lose potential sales because you’re busy laboring in Excel and Office. Let the CRM platform do that for you.
Companies that use CRM platforms, like AvantGuard, stay organized, and are able to provide customers and dealers with the best customer service possible. Your business should consider doing the same.
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