Integrated CRM supports business development activities so that more revenue is achieved.  

Two common drivers of business development for accountants are: 

  •  Referrals from clients  
  • Introductions from strategic partners.  

A referral from an existing client is more likely to convert into a client because people are four times more likely to buy when referred by a friend. And, referrals have a higher lifetime value.  

However, even though 83% of people are willing to refer, only 29% of people do. This is where processes and tools, like Integrated CRM help.  

Reminders to thank clients, and ask for more referrals, can be triggered when a new client joins the firm. Integrated CRM can also trigger reminders to request testimonials, case studies and referrals when a client completes a project or assignment. Identifying and collating the income values of top referrers segmented by partner or industry sector can provide a firm with deeper insight and help identify who to reward and incentivise.  

Reports using data inside CRM give visibility on which strategic partners the practice is referring business to and, more importantly, what’s coming back. This data is key to ensure the relationships are working for both parties.  

Integrated CRM helps support your business strategy by providing:  

  • Structured & unified approach to business development  
  • Ability to execute a better referral management strategy 
  • Increased source of untapped revenue 
  • Insight & knowledge to identify the right type of client 

Integrating CRM with a firm’s billing system enables reporting on which services clients are buying, so the up and cross selling gaps can be identified.  

It also enables the firm to better manage all new business opportunities more effectively, by seeing what stage each prospect is at and ensuring valuable new business doesn’t fall through the cracks.  

Business development is also made more efficient; for example, scheduling meetings within an Integrated CRM will update diaries (e.g. in MS Outlook).  

For the most progressive firms, Integrated CRM also supports the developing of a positive sales culture. Performance targets can be set for individuals, teams and across each client. 

For further information please download our Accounting CPA White Paper – The Integrated Practice

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