How To Increase Employee Productivity

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Many factors contribute to the overall growth of a business. An important yet unseen factor being employee productivity. When employee potential is hindered, the performance of the workplace slows down. Managers should hence continually deploy practices that increase employee productivity in the workplace. Efficient employees manage their time judiciously and complete tasks at a faster rate than their unmotivated peers. This increases the overall output of the business, eventually leading to high returns.

Managers can boost employee productivity by offering employees clear goals, well-managed schedules, proper training and organising various Employee Engagement activities.  According to Bussines2community.com, an engaged team can lead to a 202% higher cumulative performance. Read more

How Important is a CRM Today?

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Imagine you run a successful business- your product is excellent, your supply chain is perfectly functional, and you have secured the most viable accounts in the industry. Now, you might think that merely having an establishment like that is enough to survive in the corporate sector, but that is not true.

Customer retention is more important and profitable than customer acquisition in the long run. Acquiring new business costs as much as five times more than investing in returning accounts. In a nutshell, you have to build a system that ensures recurring business from existing customers to be able to sustain.

A Customer Relationship Management solution or a CRM helps you retain your existing customers while also pursuing and acquiring new leads. CRM platforms are responsible for fostering strong service support for the customers that forges the clients’ loyalty towards your brand. This affects the business’ growth in terms of revenue and size and eventually elevates the company’s status in its industry.

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What Does Closing Mean In Sales?

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Nothing is more important than revenue to a business. Active profit generation builds a stronger organization, employs and maintains a workforce and helps improve the product through research investment. However, the secret code to closing sales deals, the one activity that generates this profit, is still a mystery to many salesmen.

Closing a sale is considered to be the most important step of the overall sales process. A sale is closed when both the buyer and the seller of a product or service agree to the particular business transaction conditions. However, studies have shown that 36% of salespeople felt that closing a sale was the most challenging part of the sales process. Nonetheless, your business can use numerous strategies and tactics to close a sales transaction successfully. Read more

How Do You Engage a Customer?

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Every successful business owner should know that the key ingredient to an organization’s growth and survival is customer engagement. Studies have shown that fully engaged customers represent a 23% increase in share value in terms of profitability, revenue, and growth of relationships.

Customer engagement is any interaction between a consumer and an organization while using a variety of different channels. Therefore, it is vital to engage with your current and prospective customers efficiently.

To engage a customer, you must have a detailed and comprehensive customer engagement strategy and plan. A customer engagement strategy can help foster organizational growth and encourage customer loyalty. Read more

What are Battle Cards?

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With the surge of globalization and increasing competition in all industries, the sales sector is no less than a battlefield. Creating leads and closing deals is more challenging than ever. Salespeople hence need a systematic, scientific approach towards sales pitches.

Sales battle cards are a particular type of internal organizational documents that provide the sales agents with the information they need to close sales. They are a concise compilation of high-value data and information that can help your company’s sales and marketing representatives understand competing products and services. Studies show that 89.5% of consumers want an assisted purchase experience and usually conduct their research before making purchasing decisions.

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How do you create a Sales Strategy?

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An effective sales strategy is the trap you lay down to capture sales that propel your business forward. Sure, execution is important, but there is nothing more unproductive than a wishful action without a plan. This is why over 50% of all successful sales team devise a 12-month view of their plans while 10% map out plans for the coming three years. Therefore, putting sales strategies in place before executing sales plans is crucial if you want to have successful returns.

You can create a sales strategy by studying your position in the market, your human resource, and your client needs. This allows you to capitalise on your strengths by focusing on selling your best-performing products. CRM software can aid sales strategy formulation by facilitating data-driven decisions, accurate sales forecasts, and building good customer relationships. Read more

Does My Small Business Need a CRM?

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In the extremely competitive business environment, larger businesses may appear to have a competitive advantage in terms of financial capital and access to more resources than smaller firms. However, as a small business, your organization still holds an added advantage over larger businesses. What makes them stand out in the crowd is their ability to provide customizable, personable and unique customer service support to your current and prospective client base.

Customer Relationship Management or CRM is a type of software that allows your business to record and display customer data, information, and analytics meticulously and efficiently. So, logically, it’s an enormously popular tool. For this reason, about 91% of businesses with ten employees or more use CRM software to manage customer data and relationships. Read more

What does a CRM Manager do?

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In a world where customers rule the growth narrative of a business, every company needs a person who can understand, satisfy, placate and engage the clients efficiently. Understanding every client’s value and allocating adequate resources to each customer is also a crucial part of client management. This is why CRM Managers are indisputably becoming a crucial part of upper management business layers.

A CRM Manager is responsible for maintaining customers’ relationships with the organization. Their job is to ensure enhanced client satisfaction, conceptualizing customer retention campaigns, overseeing and assisting the marketing teams with lead management and setting feedback channels. They manage CRM platforms that have been found to boost conversion rates by as much as 300%. CRM Managers often use CRM solutions to carry out these subjective tasks and execute multiple strategies every day. Read more

What is cross-selling and up-selling?

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The most fundamental tenet of human behaviour is unending desires. This serves as the biggest strength of a business. As and when new needs emerge, new sales opportunities arise. All the right salesperson has to do is identify these evolving client desires and mould the sales strategy according to them.

The customization of sales processes takes two popular forms: cross-selling and up-selling. While cross-selling dominates the selling patterns of the most successful eCommerce giants contributing to a total of 35% of Amazon revenues, up-selling has been found to increase revenue by as much as 30%.

Cross-selling and up-selling are the methods of increasing customer value by selling them more products in connection to existing products. Cross-selling occurs when you sell the customer pieces that complement their choice items, while up-selling occurs when you convince customers to buy a newer or better version of the product they are looking for. Read more

What is customer retention?

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Every company wants to grow, and an important aspect of business growth is customer retention. Just a 5% boost in customer retention can increase a company’s profits by 25% to 95%. With such high returns of investment, it is no wonder that companies are investing in the best customer retention tools and strategies they can find.

Customer retention, by definition, refers to how much power a company has over retaining its customers, i.e. making the customers come back to do business with it. A company with a high customer retention rate continues to grow and get bigger as they take in more customers. Read more