Why You Need a CRM to Succeed in Investment Sales

In the realm of investment management, the role of a CRM system cannot be overstated. Traditional CRM systems, while beneficial, often fall short in meeting the niche demands of the industry. This gap has led to myths surrounding CRM effectiveness and adoption. 

In reality CRMs do not fall short at all, rather, it is the failed implementation of CRM adoption. 

In this article we are reviewing the myths to CRMs and why they are vital for your organization and sales team. By the end of this, you’ll have a better understanding of the benefits to adopting a CRM properly, and your solution to this common problem.

Debunking CRM Myths

CRM systems have often been critiqued for being generic and not catering to specific industry needs. In the investment sales sector, the primary need is for a system that meticulously tracks and manages client interactions.

CRMs have a bad reputation for being useless, too difficult to use, or containing stale data. While some CRMs may in fact be universally the same and ineffectively generic, Dakota Marketplace for Salesforce is not. 

Our innovative solution is designed specifically for investment sales professionals who are out fundraising, ensuring that every feature is relevant, useful, and actually being implemented. We’ll get more into the Dakota Marketplace for Salesforce product later in this article.

With that, let’s dive into the main benefits of a CRM for a company and their sales people.

Benefits of a CRM: the company

A CRM offers multifaceted benefits to a company, primarily in two key areas: capturing scheduled meetings and documentation of meeting notes, and secondly, fostering overall organizational success.

The capability to systematically record scheduled meetings along with detailed notes is invaluable. It enables the company to effectively monitor and evaluate the productivity and engagement of its workforce. By capturing the essence of each meeting - who was present, the topics discussed, decisions made, and action items assigned - the organization gains a clear and accountable record of its business interactions.

Benefits of a CRM: the sales person

For sales professionals, a CRM system is a powerful tool that extends beyond mere record-keeping. It allows them to generate detailed reports on past activities and meetings, offering a comprehensive view of customer engagement and sales progress. This feature is particularly beneficial for identifying trends, understanding customer needs, and tailoring follow-up actions accordingly.

The ability to access and analyze this data empowers salespeople to execute timely follow-ups. It ensures that no opportunity is missed and that every customer interaction is maximized for potential sales. 

The integration of these functionalities within a CRM system is not just a convenience; it is a critical component in driving sales efficiency, enhancing customer relationships, and ultimately contributing to the success and growth of both the individual salesperson and the organization as a whole.

The problem with your CRM: custom configuration

Up until this point in time, the cost of custom programming and fields is expensive and time consuming. You hire an outside developer to help build out your Salesforce, but they lack any form of industry knowledge specifically tailored to your firm. It’s like putting a cat in a swimming pool competing with fish. 

This ends in frustration, and ultimately leads to a failed CRM adoption.

The solution to this is Dakota's Salesforce App. Our App takes 100% of the features, functionality, and data of Dakota Marketplace, and puts it directly inside of your Salesforce instance. Dakota’s Salesforce App brings all relevant information that an investment sales person needs to do their job while up keeping all contact data up to date in real time.

The Dakota Salesforce App stands as a testament to how industry-specific CRM solutions can transform business processes. By addressing the unique needs of the investment sales professional, Dakota’s app not only debunks common CRM myths, but also sets a new standard for how CRM systems should cater to industry-specific requirements. 

Dakota’s Salesforce App is not just an option; it’s a necessity for any investment management firm aiming to excel in fundraising.

The Dakota Salesforce App is powered by Dakota Marketplace data. Request a demo here for more information.

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Written By: Morgan Holycross, Marketing Manager

Morgan Holycross is a Marketing Manager at Dakota.


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