ERP systems are used by many businesses to eliminate waste, manage inventories, oversee production processes, and perform other back-office tasks. While these features are critical for enhancing operations, many companies are unaware that their ERP systems may help improve sales and marketing strategies. This article is about how an ERP can help boost sales.
The most forward-thinking companies are rethinking electronic configuration, mapping ERP systems to become more profit efficient. ERP systems are only now being used strategically to boost sales and marketing tactics by businesses. We’ll go over how firms can use this ERP functionalities to improve front-office operations.
For sales and marketing strategies, the Odoo ERP software is a main data source (primarily pricing and customer service). However, many people are still not using this software with front-office processes in mind, and transactions made through inbound channels aren’t profitable. Rather of waiting for demand to arise, many forward-thinking businesses are investigating how their ERP system might generate new business prospects. Here’s what might operate in practice: A manufacturer examines the system and discovers that a returning customer has placed purchase orders every three months for the past year. It’s getting close to the period when the manufacturer should presume this order, along with many others, will be placed and make changes to scheduling and capacity. The existing customer, on the other hand, has yet to place an order.
Your variations in the customized Odoo ERP data can be utilized to determine market elasticity and lead sales teams to establish price floors. This method gives salespeople more flexibility when it comes to pricing for different customer situations. Similarly, this method helps the corporation to maintain its competitiveness while pushing higher costs. The added benefit allows for a healthy negotiation in sales. This pricing policy boosts sales teams’ ability to respond to the customer’s present needs, which aligns with the company’s overarching objective. The utilization of your customized Odoo ERP data to speed same-day shipping and procurement is another popular pricing method that is becoming more prevalent in modern business. To react to rapid changes in the marketplace, remote users need have access to inventory, shipment information, and compliance certificates. Sales can place orders in real time after this feature is added. Account data accessibility creates an environment conducive to suggestive selling of additional products, services, and warranties. Price contracts can also be moved through the approval process in real time, allowing for same-day signature.
On a case-by-case basis, ERP data can be used to give sales people with proposals for new price structures. While your sales team’s primary responsibility is not to establish prices for items and services, access to ERP data variations can be utilized to adjust pricing for specific client situations. This method, on the other hand, allows enterprises to charge higher prices while remaining competitive. It is, of course, critical to ensure that price variance limits are established in order to protect any margins. Pricing groups and price break values give your sales staff a quick and easy view of the greatest value offerings for your customer base, making them a vital tool in their toolbox. We’ve already emphasized the benefit of being able to access off-site shipping data in order to provide clients with faster and more cost-effective delivery. The same idea applies across all industries, from retail to manufacturing, to a wide range of characteristics such as supply, demand, location, and client history. When remote users have access to data via the cloud, sales may react in real time to national and global market shifts.
Marketing and sales are two departments that should collaborate closely. However, in many businesses, these divisions function mostly autonomously, pursuing separate goals and often even competing with one another. By providing a single software to bring the two together. The Odoo ERP system allows improved communication between numerous divisions. Sales and marketing can use an integrated resource planning system to draw stronger links between specific marketing efforts and closed sales by starting with shared goals. Not only do both departments have easy access to product and service information, but also to lead and customer information. This provides sales teams with trustworthy information on the company’s offerings and current campaigns, as well as marketing with a better understanding of the techniques and vocabulary that will assist them engage new prospects. More deals will be closed as a result of the improved teamwork, resulting in more revenue for the company.
Another way a resource planning system boosts revenue is by improving client interactions. When it comes to boosting income, buyers are a natural priority, and delighted consumers are more likely to be loyal as well as evangelists for a company. The Odoo ERP system makes it easier to access client information and history, allowing sales and customer service representatives to provide better experiences for their consumers, resulting in increased trust and passion for the brand. These client characteristics can also help the marketing team, which can utilize the data to create stronger buyer personas for marketing initiatives, offer more relevant products and services, and employ marketing language that is more relevant to their target market.
“A stack is a set of tools that work together to achieve a specific result. Many teams have an entire stack of tools they use to market, sell, and communicate with their customers. The answer to this is called a Growth Stack.” HubSpot