CRM Success Catalyst

CRM Success Catalyst - Gill Walker

 

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Five ways that successful CRM will make more money for your business

CRM waters the Money Tree

It is not a secret – a CRM solution makes your business better.  Successful CRM systemises and adds processes for transparency, consistency, and enhanced collaboration within your business. The more you and your team members use your CRM solution, the stronger your business becomes.  Successful CRM waters the Money Tree of your business.

A successful CRM solution gives your businesses many strategic advantages.  One of these is the capability to improve existing relationships between the business and the customers by adding a personal touch.

The top five ways that successful CRM will make more money for your business are:

  • A more consistent sales process so all your team members keep leads from falling through the cracks
  • Lead scoring so you know, who is hot and who’s not
  • Accurate data, so you don’t look silly
  • Automated and personalized emails so you talk to your prospects with no effort!
  • And finally - CRM is not just for sales - successful CRM will ensure that you do not drop the ball on any customer service issues.

It is not a secret and it is also not rocket science.

However, to ensure that your CRM solution delivers these business benefits to you and your colleagues, you need to:

  1. Design a solution that really takes advantage of your chosen technology
  2. Keep the ownership and understanding of your solution within your organisation
  3. Ensure that all your team members receive thorough training

A more consistent sales process so all your team members keep leads from falling through the cracks

Leads should be followed up from the moment they stray into your awareness until they either buy or die.  A consistent sales process shows all your team members how this should be done.

A client of mine realised that if all their web enquiries were followed up correctly, they would have 14 times more prospects coming into their business – probably more than the current team could handle!

Your consistent sales process can make it easy for your sales team to cross sell and upsell, as your salespeople can see which products are suitable to sell with the current enquiry and their availability so the resulting order has higher value – leading to greater customer revenue and bigger profits.

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When leads are let fall into the cracks, your business's revenue is also falling into the cracks – not a good situation to find yourself in.

  Lead scoring so you know, who is hot and who’s not

Not everyone who makes an enquiry to you will be hot – now. But that does not mean that they will not be hot in a few weeks or months (or even years) – depending on your market. Successful CRM will enable you to identify those leads that should be followed up now, and the best way to follow them up.

Lead scoring tells you which of your leads are interested in your product or service now. It gives you a score based on lead activity and demographic information. Your salespeople can then focus their time on the leads that are actively engaging with your organisation. They are empowered to take control of that low hanging fruit and understand which leads are hot and which need more nurturing – and leave that to marketing automation.

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Automated and personalized emails so you talk to your prospects with no effort!

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And those leads that are not hot now, need to be followed up so they are kept warm.  This is where the campaign automation of successful CRM is your friend.  With campaign automation you can ‘write once and use many’ – on autopilot, ie you design your correspondence sequence and CRM ensures that everyone receives the right communication at the right time. 

Successful CRM also allows you personalise your communications – and not just with a name and email address, but using any of the data in your CRM.  You work out what communication needs to go out to whom and when, then your successful CRM just does it all for you– on autopilot.  With these increased touch points, you avoid letting your leads slip through the cracks, while providing them with useful information to guide them down the sales funnel.

All of this without complicated exporting and importing, or manipulating spreadsheets.

Accurate data, so you don’t look silly!

Accurate data is the mainstay of your CRM solution. Accurate data about your leads and customers lets you learn more about them and so build better relationships.

Once you know your customers' pain points, and other demographic information, you gain ammunition for personalizing your follow up and sales pitch. If you have the wrong data, you run the risk of embarrassing yourself and your customers.

Once you have this accurate data, you can use your CRM solution to identify more new potential clients. Analysing the profiles of existing clients, you can use them to determine the people to target for maximum returns.

When you show the customer that you know them, they begin to trust you, which give you a better relationship and more closed deals.

With accurate data you can make the right decisions for your organisation. 

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With succesful CRM, reports flow directly from your CRM, so your staff save time and see the value in using CRM. Some of our clients now run their weekly meetings directly from their CRM dashboard.

Successful CRM will also make creating those reports much easier – the data appears to just morph from inside the computer to the people who need it, in forms that they can use!

Our Business Intelligence with Dynamics 365 training taches you how to maximise on that data with interrogation and visualising skills.

Another of our clients found that after our implementation of CRM for them, reports were much quicker and more accurate. He said ‘Reports happen in the background: Staff simply focus on their jobs. We love the reports and the ease with which they were configured – almost before our eyes’.

And finally - CRM is not just for sales.  Successful CRM will ensure that you do not drop the ball on any customer service issues.

Successful CRM makes call centres more efficient by delivering accurate order histories and customer details.

Once your technical support people are also using the same CRM as the sales and marketing team, you gain these benefits for them. Their issues resolution efficiency is improved because they have an easy connection to field service and other team members. Issues can be resolved more quickly by enabling research using similar issues and a knowledgebase – inside their CRM. No balls are dropped.

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Once your successful CRM is delivering these benefits, you will see some overall benefits as you are able to treat your clients and prospects as individuals rather than a mass market. You will also see economies of scale – you find yourself able to look after more customers at lower costs. This improves the profits from increasingly tight margins. Even within these increased customer numbers you will keep the flexibility demanded by the digital economy.

The digital economy moves at a pace that is orders of magnitude faster than traditional business, and things will accelerate as we move further into the era of the Internet of Things (IoT) and intelligent machine-to-machine (M2M) communications. In this modern world, product and service searches, as well as actual purchases, happen in the blink of an eye. This means that only a fully digitized marketing and sales platform can capitalize on them. By switching to a streamlined, and increasingly automated, approach to customer service, even large organizations can maintain the personal touch that many consumers demand.

So, if you want to make more money for your business, successful CRM is the way to go. With successful CRM, you will see increased profits from more, happier customers and requiring less work so creating less stress for your team members.  And, of course, like anything else, you get out of it what you put into it.

Successful CRM really does water the Money Tree of your Business

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