Any person in the business of selling needs a way to track and manage relationships.
CRM, or customer relationship management, is what begins to transform selling from an art to a science by distilling it into a set of calculated and repeatable actions, all set to reach the ultimate goal of making more money.
Some teams will opt for the do-it-yourself approach and manage relationships through basic Excel spreadsheets, while others will take a more progressive approach and lean on a cloud-based CRM tool such as the one we provide here at Apto.
But have you ever wondered what more your technology can do, but aren’t quite sure what that more might be or where to find it? Here are some considerations for what technology can do for you.
Three questions to ask
Research has revealed that for every dollar spent on CRM software, businesses can expect an average of $8.71 back—a staggering 771% ROI. This is according to a report from Nucleus Research, a firm that specializes in case-based technology research. And returns on your investment don’t diminish over time, in fact, they tend to increase thanks to design improvements and price drops brought on by the intense competition.
If the potential ROI isn’t enough to sway you, ask yourself these questions:
- Do I have the goal of selling more in the future?
- Do I need an organized way to manage and nurture existing and future sales relationships?
- Do I spend a significant amount of time toggling back and forth between tools in an effort to manage relationships?
If you answered “yes” to any of these questions, then you owe it to yourself and your team to investigate some more sophisticated tools.
You need more than simple organization of your data
A CRM is the right place to start, but if you really want to up your game, you need more than a way to just organize your data. The ideal is to automate your tasks and reminders as much as possible, so you can focus on high value tasks that need a human touch.
Consider finding tools to help with the following processes:
- Prospecting and building relationships: This process requires conversation and in-person time, which means you need to focus on the workflow that allows those conversations if you want to be more efficient. Technology can help you prioritize and organize your outreach so that you get reminders to call a group of people on a certain timeline. The more information is in one place, the less time you spend digging around for background on any given person.
- Analyzing your market to support prospecting and marketing efforts: To be a successful broker, you need to be a master of your market. You need expertise on each region and neighborhood to effectively advise your clients. There are tools out there to help you visualize and hone in on only on the criteria you need. Interactive, dynamic maps that are integrated with a CRM can be a gamechanger.
- Transaction and deal management: On any given deal, there are a million moving parts. You need to know how to manage each part and prioritize appropriately. Make sure your CRM has ways to manage your deals throughout the whole process, from winning business to sealing the deal, so you know what to focus on at any given moment.
These tools should either be built in or integrated with your CRM. The idea is to keep all your information on your network in one place, and then use technology to manage and prioritize your business so you can get to work on the things that matter.