B2B CRM is a software that makes managing business interactions and relationships efficient. These relationships cover both prospective customers as well as the existing ones.
Selling to a business entity requires a different approach than in B2C business. As a result of this, the decision whether to make a purchase is not based on personal relationship and in many cases will require various levels of approval within the customer organization.
Understanding B2B CRM?
There are key decision makers within every organization who have a direct influence on the buyer decision. A B2B CRM solution therefore provides tools that will help a business manage its leads and prospects, in the process identifying the key players within a customer organization who have the power to make the decision to buy or not to buy a product or service.
Once identified, the right B2B CRM solution will help you nurture these prospects in the best way possible, thereby increasing your chances of handing off to sales more leads, which in this case are other businesses. Using the B2B CRM, you will also be able to retain your relationships with these leads even after they have become customers.
Benefits of Using B2B CRM
There are a lot of benefits that a B2B company will derive from using a B2B CRM solution. Some of these include:
With the alignment of your marketing and sales efforts, not only the company’s revenue goals will be clear, but also the number of MQLs needed to achieve this goal. Furthermore, as a lead progresses from being just a prospect to an MQL (Marketing Qualified Lead) and then to SQL (sales qualified lead), the marketing and sales departments should be perfectly synchronized. This allows the sales department to immediately follow up the lead once this lead becomes “hot” or sales qualified
According to a study carried out by Harvard Business Review (hbr.org), businesses that responded to a lead within an hour were 7 times more likely to qualify the lead than a business that responded just an hour later. They were also 60 times more successful at lead qualification than businesses that waited for 24 hours or more before contacting the lead.The efficiency that B2B CRM brings to your marketing and sales processes increases your chances of qualifying more leads as your team can respond to leads faster and more efficiently.
Any serious business organization understands the importance of customer retention, which stems from customer loyalty. Since your existing customers are 60% to 70% more open to buying your product or service (scnsoft.com), it makes sense to stay in touch with them even after they have made a purchase.The right B2B CRM solution will provide customer relationship management tools that will make your customer service processes efficient and result-oriented. This will enable you to build and maintain relationships with your existing customers, thereby increasing your ROI on each lead that becomes a customer.
A B2B CRM solution totally helps you to manage the marketing, sales and service processes taking them on a new level. With its strong smart data collection capabilities, and with these data aggregated at a point and accessible to team members, the processes can be properly analysed. This will help you easily identify areas of strength and areas of weakness.You will be able to know exactly what is working and what is not. This will reduce instances of efforts being wasted on unprofitable processes. Your resources – both human and financial – can be focused on the things that are really effective. This will include where your best leads are coming from, what contacts within a company are key to decision-making as it concerns your offer, how well your teams are doing and more.
This is one of the most important benefits that the right B2B CRM solution should offer. The effectiveness of other features of a B2B CRM solution depends largely on this feature. Once processes are automated, it not only speeds up the entire process, it also eliminates, or at least drastically reduces cases of human errors.
Some Questions to Ask Before Getting A B2B CRM Solution
Before deciding on any B2B CRM solution, there are a few questions that will help you determine which is right for you. Some of these questions are:
Is It Customizable?
Every business is different from the other. The ability to customize a B2B CRM solution is therefore very important. This should cover simple customizations like the addition of a company logo, changing colors to more critical customization capabilities that will enable you to meet your organization specific business needs and will allow you to use the platform in a way that best suits your company.
Is It Scalable?
As not all businesses are the same, they also are not all of the same size. Rather than getting a B2B CRM solution that is only right for the current size of your company, it is best to get one that is scalable, so it can grow with your company.
Does It Offer Process Automation?
We already noted above that process automation is fundamentally a key to the success for quick business growth and effective workflow management. You should therefore consider solutions that offer complete process automation.
Does It Support Integration with Other Apps?
Integration with other applications is another important feature to look for. You may want to use your CRM solution with another application that is important to your company’s business processes. If the CRM solution you have chosen does not support any integrations or is difficult to integrate it with other apps, it will essentially limit the capabilities of the system or will make you use many different apps, which complicates all the processes. So, go for a CRM solution that supports integration with other apps.
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The bpm’online B2B CRM Solution
Bpm’online is a global leader in the CRM software industry. With its deep understanding of business processes, customer relationship management and modern technologies these processes require to function optimally, it offers a robust B2B CRM solution that is comprehensive in design and functionality.
Offering a bundle of three CRM products for sales, marketing on a single platform, the bpm’online CRM solution provides midsize and large enterprises with the tools they need to improve their marketing, sales and service processes.
While these three products (bpm’online marketing, bpm’online sales and bpm’online service) can be used as stand-alone products, they are combined on the single bpm’online CRM platform to deliver unparalleled CRM solutions.
Some of the features of bpm’online CRM include:
- 360° customer view
- Business process management
- Collaboration tools
- Lead management
- Opportunity management
- Document flow automation
- Mobile CRM
- Contact center
- Case management
- Service catalogue
- Knowledge management
If you are ready to accelerate your marketing, sales and service processes, get the bpm’online B2B CRM solution and watch your business grow exponentially. If you’re still unsure, try it free for 14 days and experience how it works.