CRM ROI
The installation of CRM software and the implementation of the system can often involve daunting financial responsibilities; however, like most things in business, it is the return on investment and the overall benefits to the company that makes investment worthy. There are several ways that you can gain valuable returns on investment from Microsoft CRM from Splash Solutions; some are listed below:
1. Revenue Enhancements
• Improved customer retention (measure reduction in lost customers, or increase in re-order percentages)
• Increased cross-selling (measure number of products sold across product lines per customer)
• Reduced lost sales due to stock-outs (due to immediate ordering vs. lag time of x days)
2. Margin Enhancements
Sales personnel will be able to up sell customers to more profitable items because the new CRM system can take syndicated demographic data sources for the local-store area and, using analytics, suggest specific items that appeal to the local consumer – this can be especially useful for franchised business models.
3. Cost Reductions
• Reduced customer acquisition costs (e.g. measure number of calls required to generate/qualify a lead)
• Decrease in cost of sales (by increase in sales team productivity, reduction in proposal generation time, improvement in order configuration accuracy etc… – measure these individual elements to assess decrease in cost of sales)
• Decreased cost to retain and serve customers