Hidden ROI: Leveraging CRM across Your Business
Scott Thomas - Idle Tools Corp
Overview
CRM – More than what most think Time Based ROI Hidden Dollars ROI Company Performance ROI
CRM – A Limiting Perception
Not just for sales Not a “glorified” Rolodex Not Big Brother Not just a relationship manager Not an I.T. driven product
CRMs are highly customizable platforms for building automated processes, building mobile apps, managing multiple aspects of a business, and providing insight to future revenue.
CRM + Cloud + Integrations = Solution
Centralized Information
Access or Contribute Information from
Anywhere
Integrate with additional systems
SOLVED MY RECURRING DATA QUESTIONS ISSUE
CRM - a multi-faceted solution
Take advantage of the cloud Centralize critical information and provide
mobile access Facilitate cross-departmental communication
and collaboration Reduce dependency on spreadsheets & other
temporary tracking methods
CRM - a multi-faceted solution, cont.
Improve all types of processes within the organization
Track hard to manage business costs Maximize financial opportunities Consolidate Databases Automate – Everything
TIME Based Time is Money……
Time Based ROI #1: Reduce Salary Leak
Decentralized Information
Its in my noggin!
Searching, Collecting, Waiting, Re-Doing
Time Based ROI #2: Eliminate The Spreadsheet Rodeo
One Time Use Wasted Time Not Sustainable Stored Inconsistently Versioning One User at a Time Time Consuming Consolidations Always Start from Scratch
Time Based ROI #3: Eliminate Patchwork Processes
Email Based Spreadsheet Based No Reporting Inconsistent User Unique Poor Documentation Time Consuming
Time ROI #4: Centralization of Databases
Email Marketing Services Survey Services “Marketing” Lists Market Intelligence Tools ERP/MRP systems
WHEN CORE DATA (ACCOUNTS/CONTACTS) VARIES, TIME WASTE IS INTRINSIC
Hidden Dollars ROI
Hidden Dollars ROI #1: Marketing Funds
Most Parts of the channel receive funds Poor Tracking leaves money on the table Track balances Track distribution of funds Track how they are used Limit based on criteria Create documented approval process Upload back up documentation from the field
At the mercy of others processes
Its not a focus of anyone….. Document times, conversations,
values, and promises Provide Reports, create alerts Ensure legal documentation Speed collections Documentation is king
Hidden Dollars ROI #2: Product Claims
Hidden Dollars ROI #3: Loyalty Programs
Lack of redemption is why they are popular
Manage for yourself Manage for your customers Take advantage of free
money The biggest issue is lack of
documentation or a system for documenting
Hidden Dollars ROI #4: Optimizing The channel – Shared Pipeline
Alignment is natural up the channel – i.e. Sell More Maximize “free” resources & multiply revenue
opportunity Manage sales opportunities up the channel
Dealers work with distributor reps Distributors work with manufacturer reps
Smart sales organizations formally share what they are working on and hold partners accountable to help drive revenue
Company Performance ROI
Company Performance ROI #1: Proactive vs. Reactive Sales Management
• Proactive Management – Managing a Pipeline– Calling reps to coach– Allocation of resources based
on known “in process revenue”
– Forecasting on known probability
– Focused on what could be made to happen
– Managing with documented field data
• Reactive Management– Managing from Sales Reports– Calling Reps for updates– Allocation of Resources as a
reaction to the past– Forecasting on history – Focused on what already
happened– Managing with anecdotal
data
Company Performance ROI #2: Lead Management
Optimize Tradeshows – get your money’s worth Make good on your marketing investments Provide value to customers
Company Performance ROI #3: Providing Value to Key Suppliers
Forward Looking Sales Pipeline by Product Project Tracking Sales Promotion Management & Results New Product Introduction Tracking Competitive Landscaping Training Documentation Lead Results Lost Sales Reports w/ Loss Reasons
To maximize ROI of a CRM system, you need to consider all aspects of your
business!
Rolling Out CRM – Quick tips
Getting Started & Rolling Out
Discovery Choose a CRM Create 2 Teams: Development & User Testing Design to Satisfy 2 Needs: User & Management Rollout:
Phase In Interactive Training Walk the Talk Listen to Feedback
Recipe for Success
Leadership Engagement Highlight Excellence Job Descriptions Tie to Metrics No “Free Passes” Adapt System to YOUR Business Embrace Mobility Culture Shift
Recipe for Failure
Inconsistent Leadership Engagement Wink Wink Sales Management Failure to live in the system (culture) "3rd Hat" ownership or I.T. Only
ownership Aversion to time and resource
investment Big Brother and counting data Failure to act on outputs Request things the old way Perfectionism
Driving User Adoption
Incorporate required processes into CRM Include in job description Accept information one way React and manage by the outputs Highlight documented successes – wins Include critical information in CRM customer records Dispel Myth One: You must be “techy” to succeed Dispel Myth Two: CRM is “Big Brother” Dispel Myth Three: CRM replaces interaction (it
enhances)
Thank You!
• Scott Thomas• CRM Implementation Services• (919) 455-5987• [email protected]
Hidden ROI: Leveraging CRM across Your Business
Scott Thomas - Idle Tools Corp