What is Product Catalogue in CRM and How Can It Help You?
Product Catalogue in CRM helps you quickly link product information directly to your deals and contact cards, without switching between platforms.
When customers are about to make a purchase, they are often faced with the need to ask more. They want to ask more questions about the product they are buying— its features, price, or even alternatives. And these questions can affect company productivity.
They can delay the closing of deals, wear out salespeople, and even affect conversion rates. To address these challenges, companies make use of product catalogues in CRMs. This feature helps expedite the buying process.
It can help sales reps glean needed information when engaging with customers and improve conversion rates. It can also enhance the user experience, as well as companies’ branding at the end of the day.
What is Product Catalogue?
Product catalogues contain all important information about your products and services to help buyers make a purchase decision. Details may include product descriptions, features, price, availability, customer reviews, and more.
Those who need product catalogues are:
Sales Representatives, Sales Teams
Sales reps need product catalogues the most. Their primary tasks often involve communicating with their prospects and customers about the benefits of using their products.
Using the product catalogue, they can glean the needed information to close deals with particular customers.
Buyers don’t want to waste their resources investing in products or services that don’t give them value at the end of the day. That’s why they look for more information to make a comparison between product options to make a decision.
With a product catalogue, they can be fully informed about the different products or services you (or other sellers) have and decide which one to get for their business.
Warehouse Managers, Inventory Managers
Warehouse and inventory managers use product catalogues to know more about the details of the inventory.
Marketers can conveniently use the information in product catalogues to demonstrate the use and benefits of their products and services.
It also helps them gain a better understanding of their products, what makes them unique, and what value they offer to target customers.
Third Parties (Partners, Resellers, etc)
Third parties, such as partners, suppliers, and resellers, can use the product catalogues to get more information about a product and service when engaging with end-users.
How is Product Catalogue Used in CRM?
CRMs can help you link products directly to your deals and contacts cards.
With Saphyte, for example, you can list your products in the product catalogue beforehand so that whenever a quote or invoice is needed for a client, you will not have to manually add each product information over and over again.
You can also attach visuals, and other media to demonstrate the benefits of your product or services. All in all, CRMs help eliminates the need to manually create quotes and invoices for each customer.
How Can Product Catalogue Help Your Business?
Product catalogues can help your business in these six ways:
1. Quickly get product information with ease
With product catalogues, sales and marketing teams can quickly access technical information and features about products— no matter how many they are.
They can be recorded on documents and published on websites so customers won’t have to repetitively ask sales reps about each product.
2. Achieve faster sales cycles
Sales cycles are sometimes delayed because customers spend time thinking and comparing products or services. With product catalogues, customers come in fully informed about your products, reducing the need to ask your sales reps about them.
They can also make comparisons beforehand, making prospects sales-ready, which results in faster sales cycles for the business.
3. Enhance user experience
Product catalogues are known to enhance user experience. They proactively inform customers about the products and services the business has to offer.
This allows customers to decide whether or not the product and service options match their needs and preferences. When all of this process go smoothly, it will enhance the user experience— as the needs of customers are served and their challenges are addressed quickly.
4. Improve brand image
When the user experience is great across all marketing channels, it will create an impression that your brand is reliable— improving its brand image.
This can further encourage customers to make repeat purchases in the future should a need arise.
5. Make sales without active marketing efforts
Product catalogues can themselves speak for the brand. They can effectively persuade customers to make a purchase by displaying all the necessary information. They can be displayed on websites, landing pages, or even linked on social media pages.
6. Helps train salespeople and third parties fast
Whenever you onboard sales people and third parties like retailers, resellers, and the like, you can provide them your product catalogues so they can quickly understand what your business does, what it provides, and what value it gives to customers.
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