Australia has been a major adopter of CRM in recent years and the trend is evident from the amount of money businesses invest annually in CRMs.
In fact, in 2018 alone, Australian businesses invested approximately 2 billion dollars on CRM software, resulting in a 19.4% increase in revenue for CRM vendors.
To better understand why a CRM system is crucial for business growth, see how Australian businesses leveraged it for growth.
Sample the success story of the Australian Institute of Fitness. Like many other Australian businesses, when they implemented a CRM system, they witnessed:
- 9% Increase in Leads in the First 3 Months
- Enhanced Team Productivity
- A $200K Monthly Revenue Increase in 3 Months
- Significant Reduction in Marketing Budget
- Improved Customer Retention Rates
The Australian Institute of Fitness is one of the growing enterprises that moved past its archaic methods of handling customer data and are managing it efficiently with the help of a CRM.
And that’s just one example of a business in Australia that achieved business growth by leveraging a CRM system.
In addition to large and mid-sized companies, even small businesses and start-ups are implementing some of the best CRM systems in Australia to improve their marketing and sales performance.
But how do businesses benefit through CRM systems? Here’s a quick look at the key benefits of a CRM system.
Key Benefits of a CRM System
Improve Customer Service
By using a CRM system, you can manage your contacts and gather significant customer information such as demographics, purchase records, interaction history, and make it readily accessible to anyone in your company.
Having all the customer information at their fingertips enables the support team to provide better customer service, which in turn improves customer satisfaction.
Get Detailed Analytics and Better Insights
Analytical capabilities are found built-in in a CRM software, enabling you to break down data into easily understandable metrics.
You can assess the success of your marketing campaigns and optimize it based on metrics such as click-through rates and bounce rates.
Get Central Database of Information
Your team can easily access all customer data with CRM software.
For example, a sales representative can see what products a particular customer is interested in. In the event that the customer has previously interacted with the company, the CRM will include records of that interaction.
These records can be utilized for future marketing campaigns and sales pitches. It will save your employees the time and effort of searching through old files and records.
In addition, it will allow them to provide customers with a better and more productive experience.
Improve Sales Forecasting
With automated sales reports, you can identify key trends and gauge what to expect in the future. You can then adjust your sales goals and establish sales metrics accordingly.
At What Point Should Your Business Invest in a CRM System?
Is your company affected by any of these issues?
- Slow Sales Cycle
- Trouble Finding Customer Data
- Challenges in Reporting and Forecasting
- Incomplete or Inaccurate Customer Data
- Lack of Visibility into Sales Performance
- Disconnect between Marketing and Sales Departments
If you answered yes to any of these questions, your business needs a CRM system.
The Top 5 CRMs for Businesses in Australia
As one of the top CRM software solutions, Salesforce offers a ton of customization and integration opportunities and is regarded as the industry leader in the world of CRM. While large businesses usually opt for Salesforce Enterprise Edition, Salesforce Essentials is popular with small and medium-sized Australian businesses.
Key Features of Salesforce CRM
- Contact management
- Quote management (quote to cash)
- Insightful and powerful analytics (Einstein Analytics)
- Comprehensive lead management
- Capabilities across multiple channels
- Accurate and predictive sales forecasting
- Top-of-the-line security
Apart from that, as one of the leading CRM systems, Salesforce has the following advantages that set it apart from the rest:
- Built-in Artificial Intelligence algorithms
- Real-time data access anywhere with a mobile-first approach
- A community where anyone can learn and share their knowledge
With an average annual growth rate of 15%, there are currently 360,000 customers and more than 60 million Zoho CRM users worldwide. Known for improving communication with customers via social channels, it also provides crucial customer insights in real-time.
Key Features of Zoho CRM
- Managing contact information
- Lead management
- Automating daily workflows
- Building advanced sales processes
- Customization opportunities
- Robust marketing automation tools
How Zoho CRM Can Benefit Your Business
- Enhances your sales performance with Artificial Intelligence algorithms
- Provides visually appealing and insightful dashboards, reports, and analytics
- Enables real-time communication with leads and customers
It is a CRM platform used by both large enterprises and small businesses. The best part about HubSpot CRM is the automation layer that it adds to the sales and marketing processes. Its user-friendliness is also one of its biggest advantages. It can be easily integrated with popular platforms such as Gmail, Google Suite, and Microsoft Office for Windows.
Key Features of HubSpot CRM
- Automating the sales process
- Contact and prospect management
- Real-time email notifications and tracking
- Live chat for customers
Released to the public in 2003 with the name Microsoft CRM 1.0, it has been renamed to Microsoft Dynamics 365 after the ‘October Update’ in 2018. The best part about it is that it enables businesses to rapidly respond to change – new business priorities, market conditions, and customer opportunities. It also leverages Microsoft AI to deliver insights and create better customer experiences.
Key Features of Microsoft Dynamics 365
- Comprehensive integration between Business Central and Business Intelligence (BI) to provide visual insights into sales, marketing, and financial data
- Integration with Outlook, which allows you to take advantage of D365 benefits directly from Outlook
- AI-based features powered by Azure and Cortana
- A mobile-first and cloud-first approach to providing client data access anywhere at any time
Designed for businesses with long sales cycles, Freshsales is a fully featured and customizable CRM, offering contact and lead management.
Key Features of Freshsales
- Real-time chatbots powered by AI
- Customize web forms to collect visitor information
- Connect seamlessly across channels – phone, email, chat, SMS
- Real-time collaboration across teams with Slack integration
The Bottom Line
While each of these CRM systems is suitable for companies, depending on their budgets and business needs, the key is to get them implemented for better business performance. So, whether your business in Australia is small or large, implementing a CRM system can put you in a win-win.
Want to Know Which CRM Software to Choose for Your Business? Talk to Us!
Need consultation for implementing or customizing a CRM system? Our CRM experts will be happy to pitch in. For more questions, just write to us at [email protected] and we will take it from there.
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