5 Reasons Why CRMs are Vital to Your Business

In the fast-paced world of sales and distribution, staying organized and efficient is paramount. Enter the CRM system – a tool that has transformed the way businesses operate. We know there’s a lot of debate on the power of the CRM, in fact many don't necessarily believe in the leverage a salesperson can get out of a CRM.

Dakota has been in the investment sales business since 2006 and raised over $30 billion, and we are here to tell you that CRM’s absolutely vital to your success. They are more than just digital Rolodexes; they are powerful tools that drive efficiency, improve client experiences, and enable strategic decision-making.  

A CRM allows your team to play at the highest professional level. You’d be doing your team a disservice if you don't hold them to account to manage the business out of the CRM. Whether you're a small firm questioning the need for a CRM or a large enterprise looking to optimize your current system, understanding the profound impact of a CRM is crucial. 

In this article we are reviewing five key leverage points a CRM offers your team, as well as the benefits all taken from investment sales leaders in the industry. By the end of this, you’ll have a better understanding of the necessities to a CRM and why they are non-negotiable.

1. Prioritization and efficiency

A CRM system is a powerful tool that significantly enhances prioritization and efficiency in investment sales. CRMs enable sales professionals to manage their daily tasks and goals more effectively, ensuring they focus on high-priority activities that drive success.

More specifically, CRMs help salespeople prioritize their efforts by providing a structured approach to managing client interactions and tracking progress. With a detailed and thoughtful CRM system, salespeople can easily access their to-do lists, client histories, and upcoming meetings, allowing them to allocate their time and resources more efficiently.

In addition, CRMs provide one click access to all contact information, meeting notes, and sales activities in a centralized system. This consolidation eliminates the chaos of juggling multiple spreadsheets and sticky notes, streamlining the sales process and reducing the risk of missed opportunities. By leveraging CRM data, sales teams can identify high-potential leads, track their progress, and ensure timely follow-ups.

2. Comprehensive operational insight 

A CRM system is invaluable for providing comprehensive operational insight in investment sales. They offer a holistic view of a firm's operations, allowing for better decision-making and strategic planning.

Your CRM should enable sales leaders to understand what is happening across their entire organization. By aggregating data on sales activities, client interactions, and market trends, a CRM system provides a clear picture of overall performance. With the support of detailed reporting and analysis, regular activity and pipeline reports can be generated by CRMs. This assists sales teams to stay on top of their goals, identify trends, and make data-driven decisions.

Ultimately, CRMs are providing complete transparency to sales operations. With all data centralized, it becomes easier to track key metrics, monitor the sales pipeline, and evaluate the effectiveness of different strategies. This visibility ensures that everyone, from individual salespeople to senior executives, has access to the same accurate information and are held accountable.

3. Accountability and transparency

Building off of the point above, CRMs ensure that sales teams are operating with great accountability and transparency. In the words of many industry leaders, "if it's not in the CRM, it didn’t happen." This principle ensures that every interaction, meeting note, and sales activity is recorded, leaving no room for oversight. Salespeople are held accountable for their actions, and managers can easily track performance and follow up on pending tasks.

With all data centralized, CRMs paint a clear view of the sales pipeline, allowing everyone in the organization to see the status of various deals and activities. This visibility helps identify bottlenecks, monitor progress, and ensure that everyone is aligned with the company's goals. Regular activity reports generated by CRMs keep all team members informed about each other’s work, promoting a culture of openness and collaboration.

Furthermore, CRMs support better communication between sales teams and management. Detailed reports and dashboards offer executives real-time insights into sales performance, enabling informed decision-making and strategic planning. This level of transparency ensures that all team members are on the same page and working towards common objectives, ultimately driving success in investment sales.

4. Data integration and accessibility

A CRM system plays a pivotal role in enhancing data integration and accessibility in investment sales by centralizing data. Sales teams can quickly retrieve contact information, track the history of interactions, and monitor the progress of deals. This enables salespeople to respond to client inquiries promptly and accurately, fostering stronger client relationships and increasing the likelihood of closing deals. 

Throw in the fact that many individuals track data in various sources, integrating all this data into your CRM consolidates all information. Trying to recall where you wrote something down or what excel sheet you marked something down on is completely eliminated. Consolidating client interactions, meeting notes, sales activities, and external data, CRMs provide a comprehensive view of each client and prospect.

In addition, CRMs support real-time data updates and sharing. Whether a salesperson is in the office or on the go, they can access the latest information from the CRM, ensuring they always have the most current data at their fingertips. This capability is especially valuable in dynamic sales environments where timely and accurate information is crucial for making informed decisions.

5. Continuity and seamless transition 

Lastly, a CRM system is essential for ensuring continuity and seamless transitions in investment sales. When a salesperson leaves, all their interactions, notes, and activities are preserved within the CRM. This comprehensive record allows the new salesperson to quickly get up to speed, understanding the history and current status of each client relationship. This continuity is vital for maintaining client trust and ensuring that sales efforts are not disrupted by staff changes.

In addition, CRMs enhance internal communication and coordination. Detailed records and regular updates within the CRM ensure that all team members are informed about ongoing activities and client interactions. This transparency means that even if a team member is unavailable, others can step in and provide consistent service to clients, maintaining the quality and continuity of client relationships.

Why a CRM is a non-negotiable

A CRM holds the key to unlocking the potential of your sales team, but only if leveraged correctly. It's not simply about adoption; it's about integration and using the system to its full advantage. By focusing on productivity and making your CRM an indispensable part of your sales strategy, you're not just keeping up with the times; you're setting the pace for success.

Overall, a CRM system transforms how investment sales teams operate, providing them with the tools they need to stay organized, prioritize their tasks, and ultimately, achieve greater efficiency and success in their sales efforts. All of these key points combined will allow you and your team to run a smooth, effective sales process. 

Whether you’re getting started with a CRM today, or already have a CRM and want to enhance your data, the power of a well-integrated CRM system cannot be overstated. As demonstrated by the insights above, CRMs are indispensable tools for enhancing efficiency, accountability, and overall business success.

With our Marketplace for Salesforce integration, we take the painstaking custom development away from the initial implementation. With our Salesforce App Integration, our members are able to access our curated Dakota Marketplace data directly within their Salesforce instance, providing them more incentive to use their CRM and work through fresh data. Don't use Salesforce as your CRM? No problem! We also provide integrations for other CRM systems such as Dynamo, Hubspot, Satuit, and Dynamics to ensure you can benefit from our expertise no matter what platform you use.

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Increase CRM adoption across your firm, eliminate the need to login to multiple platforms to view data, maintain data integrity with a single reliable source within your CRM instance, and most importantly – streamline fundraising day one. Learn more about our integrations here.

Written By: Morgan Holycross, Marketing Manager

Morgan Holycross is a Marketing Manager at Dakota.