Trade Show Measurement Tip #10 | Powered By Gateway
Customer Relationship Management Provides Substantial Return on Your Event Investments
Retention and growth of the 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. Below are 4 reasons why CRM are just as important to measure your ROI:
It allows you to register your leads and contacts
Think of a CRM like a digital contact book where all leads are stored and organize. 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 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 store emails sent, notes and important details relating the prospect. Add the ability to share the information between other departments and you will have efficiency and communication in all departments. This will allow you departments to work together with the correct information.
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.
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.
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.
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