Small businesses 'must use' CRM processes
Leading small and medium enterprises (SMEs) in Wales and the rest of the UK have to implement customer relationship management (CRM) processes and technologies in order to overcome the
fragmented view of their customers that the sales team would otherwise be left with.
That is according to a new report from Aberdeen, which suggests that best-in-class SMEs were able to use CRM to increases average deal
sizes, increase average annual customer revenue, reduce sales cycle times and reduce administrative time relating to sales.
The research company noted that average deal size increased by 27 per cent year-on-year among best-in-class enterprises, while there was a 16 per cent reduction in sales time.
Over the same period industry average companies increased deal sizes by eight per cent and were unable to improve sales time, while laggards saw sales time increase by 10 per cent.
"Best-in-class companies must conduct win-loss analysis on a regular basis," said Peter Ostrow, vice president of customer management at Aberdeen. "They need to know why proposals
are or are not accepted in order to identify areas for improvement in pricing strategy… and sales processes."
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