In this blog,You will have an insight about salesforce cloud CRM and the return on investment using Salesforce CRM.
ROI with Salesforce CRM
What is the return on investment (ROI) following the implementation of Salesforce?
Salesforce cloud CRM
- “What benefits can I gain from acquiring a CRM tool? “
- “What will this change in my business?” “
- “Am I right to invest in this solution? “
So many recurring questions that entrepreneurs face before committing to a CRM solution …
Here are some ways to evaluate the return on investment of your CRM project.
Your CRM solution is a good investment if it affects the following parameters:
– The generation of productivity gains
– Improving business performance
– Increased customer satisfaction
Salesforce, number 1 of CRM solutions, is able to positively impact the above three points. What exactly does it allow?
Salesforce cloud CRM increases productivity
It saves you time, minimizes your costs and optimizes your resources. All this is possible thanks to the automation and streamlining of your processes.
The best news is there is far more evidence of return on investment using salesforce CRM as an incentive than even cost savings thanks to an in-depth survey conducted by Confirmit of 295 users in 2015 that have made the switch. The results are not surprising and while there are many positive increases reported I will stick to some highlights by type of customer facing functions.
Using Sales Cloud (the most mature product) respondents report average increases in sales productivity by 41%, conversion rates by 44% and sales of 39%! This can easily be attributed to the increased adoption and much friendlier user interface. With mobile capabilities and anytime, anywhere access Sales can enter, check and follow-up on opportunities on a virtual basis. Adoption leads to usage and more productivity which bumps up the converted opportunities as well. Increased conversions provide the numbers to attain more sales. Is it any wonder sales executives have been willing to jump at the chance to bypass their IT organization and leave their on-premises system behind?
Results for Marketing Cloud are similar with average increases in marketing ROI of 50% according to respondents. Campaign deployment times increased by an average of 51%, a good explanation of the increased return on investment using salesforce CRM. Any marketer will tell you if they improve campaign efficiency they can run more of them and generate more leads which is exactly what the respondents reported with by an average increase in leads by 49%. Could these increased lead numbers have impacted the increase is opportunities mentioned earlier? Of course! Hence the benefit of an integrated sales and marketing system working in tandem in the cloud that nurtures simplicity and adoption.
What is the promise that a company can handle the increased sales volume with satisfied customers? Respondents report overall customer satisfaction rates increased by 45% using Service Cloud. Backing up this number is the average increase in customer retention rate, agent productivity and case resolution were also up over 50%.
What the survey does not tell us whether respondents were using all 3 products so that we can understand more cause and effect. In fact, the results are even more impressive if they didn’t, as each function is left to their own devices to improve performance without any leverage from another customer facing group.
The benefits don’t stop here. What if users put the Analytics cloud wrapper around the data from one or even two of the apps in the organization? How many improved decisions could managers make if they could build and track campaigns based on real service data or even opportunity conversion rates for instance? Respondents actually reported that using analytics allowed them to cut decision making time in half.
Want to learn more on return on return on investment using salesforce CRM? Visit our CRM Modernization page to understand how a migration to salesforce cloud CRM can improve your business metrics.