Retention and growth of your current revenue base is an important part of nearly every business strategy. After all, existing customers (and the revenue they provide) is the most profitable of all. Existing customers are the easiest to sell in the future. That is why Customer Relationship Management (referred to as CRM) is such an important function in virtually every organization. As everyone is starting to get back to the trade show circuit, it is more important now than ever that you have a solid CRM tool or flowchart for your company. Below are 4 reasons why CRM are just as important to measure your ROI:
It allows you to register your leads and contacts
Your CRM IS your digital contact book – a place where all of your leads are stored and organized. At any point in time, you are able to update and make changes to your contacts information. You can also create groups or categories to place your contacts such as lead, hot lead and inactive customer. You can place leads into lists which help with automating messaging to them in the future and for follow-up. This is especially useful if you have several product lines and know your lead wants a specific product. You will also be able to place notes or anything that was discussed between you and the prospect. No more losing that sticky note with your contacts information!
Communication efficiency for teams
The CRM allows you to store emails sent, notes and important details relating to the prospect. Add the ability to share the information between other departments and you have efficiency and communication across all departments. When departments work together with the correct information, your company looks more professional and you let less leads slip through the cracks.
One of the great features of CRM is the beauty of automation. You are able to set up forms, send custom emails and more. The CRM allows you to build custom emails and forms that will go out automatically according to the task you assigned. This means that the CRM system will take care of all the details for you on a personalized level!
Measuring and Reporting
We know measuring results is important. CRM systems allow you to track emails sent to your prospects. It provides reporting data of opening email rate, bounce rate and more. With better reporting data and analytics, you will be able to measure the outcome of all emails being sent out to inform decisions moving forward
All of these accomplishments have a direct and measurable impact on revenue retention and profitability. That is why CRM is such an important function in virtually every organization. Consider making CRM one of your most important event marketing goals. Hold discussions internally to understand the value your company is willing to place on retaining and growing existing customers and revenue through CRM.
Our lead capture software can make managing a CRM at trade shows super simple. Gone are the days of multiple excel spreadsheets from different attendees and combining them at the end of the show! Just scan their badge and they are entered into your marketing funnel. Interested? Find out more here.
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