A good simple CRM and sales pipeline management tool like Base can help you diversify your income sources and bring in more clients.
A lot of small businesses start to really succeed once they get a few high volume customers that regularly buy their product or use their services. But what would you do if your biggest client jumped ship tomorrow? How hard would it hit your cash flow if today’s biggest client suddenly disappeared?
No one wants to lose their biggest client. But if the idea of losing that one client would be crippling to your business, it’s time to diversify now so that you don’t have to fight your way out of a tight spot.
Here are some tips that will help you diversify your client base and win more deals.
Are you capturing sales leads in a way that helps you measure and follow up to increase the likelihood of a lead turning into a customer? Monitoring a deal’s touch-points with a lead tracking tool is a great way to get more deals from the prospect stage to having a purchase order in hand. Many small businesses manually manage sales leads, which causes problems, such as:
- Missed opportunities
- Indispensable salespeople (if your best sales rep left the company tomorrow, would you have the information needed to hang onto and continue to serve his or her accounts?)
Capturing leads with a lead management tool can help you effectively manage them and run your business smoother. A lead management tool gives you the ability to collaborate and look after customers and prospects. It can also give you valuable reports that you can use to improve and grow your business.
Create a Sales Funnel
Using your CRM you can inserts prospects into your sales funnel. If you are qualifying and managing your leads properly, by the time they leave the funnel, a number should become customers. Your sales funnel be used to manage existing customers. Just because you won a deal with a client on one occasion doesn’t mean they don’t go back into your sales funnel for the next deal. There are a lot of sales funnel automation areas you can take advantage of, such as: email or autoresponder marketing on your website. Even adding a simple lead tracking contact form, such as the one offered in Base Small Business CRM, to your webpage can make a big difference and help you track things better so that you can develop new and profitable relationships.
Track & Follow Up
Every qualified lead should be tracked and followed up with along the way. Each customer that buys from you once has the potential to become a repeat customer. Customers that feel well looked after are less likely to be wooed by a competitor. And if you’re managing multiple accounts, it’s not always easy to make everyone feel valued. Automate some of your sales follow up with tasks in your CRM.
Examine Lost Deals
If you quoted 100 leads last month and only won 20 orders, do you know why you lost the lion’s share of 80? A good CRM tool can help you learn from lost sales. It can help you examine lost deals so you can figure out why it’s happening and measure your ongoing progress to see if new policies, procedures, and tools are helping you win more deals.
A CRM can help you manage your existing customers and bring in new ones. Using a simple CRM and sales tracking app is a great first step in a diversification strategy that will help you protect your business and grow it, too. Your first step to finding this simple CRM is to evaluate certain CRM vendors, such as Highrise vs Insightly.