B2B CRM refers to Business to Business Customer Relationship Management, a combination of technology, systems, processes, and strategies that are designed to help companies carrying out B2B processes manage their long-term relationships with their potential customers and clients.
The systems and processes carried out by the businesses allow them to collect data individually from all their customers and maintain a central depository that can be accessed by all their employees. Since the sales and marketing team have access to the same data; thus, both the departments can get a better understanding of the customers’ needs.
The complex nature of the customer relationships in the B2B field requires a comprehensive understanding of the customer’s needs to turn the conversations into sales. Here are some of the most common ways in which B2B CRM can help you achieve sales growth.
#1 Qualified Leads
Your CRM keeps a record of the activity on your website by each visitor. Using the data stored on your CRM, such as the time spent on your website, the number of clicks made, and products or services checked out by the customers, you can create quality leads that can help you optimize your paid ads to increase your conversion rate.
#2 Optimized Calling
Your CRM probably is linked to the call tracking tool that you have in place. Whenever you make a call or receive a call, the data will automatically be uploaded on the CRM. You can track the history of your customers’ inbound calls and use the data to close deals faster by getting a prompt understanding of your customer’s requirements.
#3 Customer Referral Programs
Your loyal customers can become your biggest allies when it comes to reaching out to similar customers. Referrals have been known to be the best sales strategy for achieving sales growth. Use your CRM to launch a customer referral program. Monitor all your customers’ activity, track their referral activities, and reward them with discounts and freebies to turn them into revenue drivers.
#4 Leveraging Email Marketing
To increase your sales, you need to focus on the demand for your product and service in the market. Without an increase in demand, sales growth would be impossible. Email marketing is the best way to generate demand for your products in the market.
Use your email marketing CRM and gather the collected data on the specific customer or group of individuals to understand your customer’s needs better. Focusing on your analyses made, come up with tailored email marketing campaign that will help you generate leads, and create demand for your product or service.
#5 Create a Persona for Customers
Your CRM contains a ton of information on every customer that you have. Using the information available such as the lifetime value, acquisition cost, payback period, and buying habits, you can figure out the minimum amount that your customer is willing to pay for a specific product.
Using all the information present such as behavior, needs, buying habits, and budget, you can create specific personalized personas for your customers, which will benefit both the sales and the marketing team when approaching the customers.
Using the B2B CRM model, you can track all your data and observations made over the period regarding your clients and customers and make better and more personalized decisions when targeting your potential customers. Highlighting your customer’s needs and approaching them will allow them to communicate and connect with the customer directly and lure them into making a purchase. If used right, B2B CRM can help you achieve your sales goal for the period.