However, a year or two on, the founders are often working even more hours than they were when they started, they don’t have a full sales team in place, and they have several new leads coming in per month, with more than one sale and multiple ongoing customers. This is when lead loss starts to occur. Someone in the organization meets a contact who would possibly buy, and either forgets to follow up or share that information, waits to long to reach out, misses an email, or doesn’t continue the sales process for a long enough period to get the sale closed. This lead effectively becomes lost, and the business owners have given up a sale they otherwise could have closed. A similar process happens with leads being lost even when they come in as existing customer referrals, cold new inquiries, or from a marketing campaign the business has undertaken.
Here is where CRM instantly adds value. Every new lead is added either automatically, or if need be manually to the CRM, as soon as it comes in. This becomes a fundamental part of your business, with everyone committed to it. The CRM then delegates this lead to the right person, who receives automatic reminders to follow up regularly, they get added to your mailing list, and the management can track this lead through the process to make sure every effort has been made to get a sale. Leads stop getting lost, the business grows. Potential Customers see that the business wants them, and is organized enough to keep following up with them. They commit.
2. Ensuring Closing – Many established and new businesses have a serious problem with creating a sales-driven culture. There is no set process for finding new customers and getting them sold. People are more concerned with servicing the existing customer base and getting their day-to-day duties completed than they are about chasing that next sale. This is where CRM can help.