Surviving Recessions with CRM

Survive Recessions with CRM

The world is going through a phase of economic turbulence and many reports suggest that a recession is on the horizon. You might be thinking ‘But how can a CRM help me survive a recession?’. On average, selling your products or services to an existing customer is three times less expensive than selling them to a new customer. And a CRM is just what you need to run targeted campaigns to your loyal customer base in order to get you through the waters when the tide is low.

Track and Trade

Track sales, customer interactions

A CRM enables you to track every interaction you or any member of your organization has with a contact. It means you won’t be bothering any customer with redundant questions about their requirements and will be keeping the conversation to the point. And in case a customer happens to have an incomplete conversation with you and then reaches out to another member of your team, your coworker will be able to pick up the conversation right where you left off. This allows your business to make the most of your time and your customer’s time without wasting a single minute. And since time is money, you save a ton of money in the process.

Smarter Selling

performance insights, sales crm

Many companies resort to layoffs as a result of recessions. Thankfully, a CRM can help you evaluate the workload and manage leads, even with less manpower. This empowers your organization to crush sales targets with a handful of talented salespeople. Combined with powerful performance insights, a CRM can give you a clear perspective of your sales team, their activities and overall pipeline to help you spot opportunities that can be closed quickly. While a CRM can not replace a sales representative, it can equip your sales team with the right tools to move the needle further towards smarter selling.

Value for Money

global platform

CRM is packed with features that can help you scale your organization and reach a wider audience without burning a hole in your pocket. Contact management, pipeline management, quote builder, meeting scheduling, task management, smart notifications, group inbox, SLAs, internal tickets and email campaigns are part of a powerful CRM solution. And instead of working on forty different tools to get your job done, you can use a single, unified platform without hidden costs. A few CRMs even go the extent of providing mixed pricing to help startups and SMBs kickstart their business.

Automate Workflows

cogs, automation

From lead capturing to shooting out important emails, you can automate your entire sales cycle with the click of a button on a CRM. It encourages your team to spend less time on repetitive tasks and more time on closing deals. In fact, when a case or a contact calls for automation, a CRM can automatically create an assigned task and alert the assignee to get the job done at the earliest.

Connect the Dots

team work, collaboration

A CRM can centralize all your customer information in one place and make it accessible to your team members. Furthermore, it provides an interactive avenue to exchange ideas and notes on sales opportunities on a whim. Collaborative features such as group chat and @mentions can come in handy when you have more than one person working on a project or task. You can get opinions from coworkers and senior team members in a jiffy without explicitly explaining the context every time you need help.

While cutting costs is a no-brainer during recessions, a CRM isn’t a cost to your company. It’s an investment. A CRM generates leads from your website, social media, phone calls and events effortlessly, making it an invaluable resource at your disposal during turbulent times.

Sales Dip, bounce back, trampoline, vtiger crm
Calculus Deal Score

AI-based Deal Scoring with Vtiger Calculus

Does your organization use a deal scoring process where you manually assign a probability to forecast deal closures? Then you know the process can be ...
SaaS Sales Funnel

SaaS Lead Qualification 101: Part 1 – Why does it matter?

Recurring revenue growth is an outcome of effective lead qualification, not the driver - employee and customer happiness are. This is the first of a ...
Tiger tales Banner Image

Tiger Tales – Meet Mithun, Our Sr. Enterprise Solutions Consultant

Welcome to the second chapter of Tiger Tales, our new blog series that highlights how our employees and clients have transitioned to working from home ...
Five growing trends in the CRM Technology

Five growing trends in the CRM Technology Space

I can remember my first time reviewing CRM software. It was a little over a year ago and I was thrown into the deep-end with ...
CRM and Retail Industries

Why Do Retail Industries Need CRM?

Thanks to technology, our lives have evolved in more ways than one. It has changed the way we eat, shop, communicate, and learn. From buying ...
Tiger tales Banner Image

Tiger Tales – Meet Krishna, Our PLM Head Who Wears Many Hats

When the pandemic hit, many companies including Vtiger had to make the transition to having all of their employees work remotely, virtually overnight. Working from ...
How to increase traffic through proper SEO practices

Four SEO Best Practices to Increase Your Organic Traffic

Search engine optimization (SEO) is a powerful marketing tool that many companies overlook when first creating their website and content. An ideal scenario for many ...
Copy of Jan 10th Conceptual Images for Blog

The tale of a developer, a periscope, and Vtiger’s One View

It is not every day that a light bulb goes on, and we experience a eureka moment, but then not everyone is as brilliant as ...
Whatsup integration

WhatsApp + Vtiger Integration Makes it Easy for Prospects and Customers to Connect with your Business

The professional methods for communication continue to evolve alongside technology. Over the last few years, companies and individuals have been finding more streamlined methods of ...
CRM helps maintain and boost productivity while WFH

Delight Customers While Juggling Work and Kids at Home

Parents around the globe have found themselves working from a brand new office (their home) and sometimes they have some unexpected but incredibly cute new ...
loading
Copyright 2020 Vtiger | Privacy