Being able to understand Customer Relationship Management (CRM) better, will help inform your sales strategy and make better sales decisions, and should form part of any sales management training.
To find out how you can use CRM as a sales technique to boost your revenue, watch the video below from Gareth Cotten, the Head Tutor on the University of Cape Town Sales Management online short course.
Here’s an example of what the use of CRM in the sales funnel could look like:
- CRM allows you to know information about your customers’ past purchases, such as how much they spent, when they bought it and how long it was between purchases.
- Once you have this information you will be able to forecast and establish trends about your customer’s buying habits and actions.
- You can then use these forecasts to proactively contact them or prompt them to make a similar purchase decision, encouraging them to re-enter the sales cycle.
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Customer Relationship Management increases sales because it allows you to track past history and use that to make better sales decisions and better sales judgements going forward. So using Customer Relationship Management you are going to know what people bought in the past, for example: how much they spent, when they bought it and how long it was between purchases. You can use that to create trends and forecasts and build in an idea of how your customers are reacting. You can then use that idea to create more sales by projecting that if somebody has bought something once they are probably going to buy something else at a given time. You can then proactively contact them and then nudge them or prompt them to begin the sales cycle to actual sell them something else as well. So this is how you can use Customer Relationship Management to actually increase your overall sales.