CRM is mostly promoted as a sales tool that can increase close rate and revenue - and it does. However what many organizations don't realize is that CRM can be leveraged across the entire organization to save time, "find" money, and improve all around company performance which translates into the Hidden ROI potential behind CRM
2. Overview
CRM – More than what most think
Time Based ROI
Hidden Dollars ROI
Company Performance ROI
3. 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.
4. CRM + Cloud + Integrations = Solution
Centralized
Information
Access or Contribute
Information from
Anywhere
SOLVED MY RECURRING DATA
QUESTIONS ISSUE
Integrate with
additional systems
5. 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
6. 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
8. Time Based ROI #1: Reduce Salary Leak
Searching, Collecting, Waiting, Re-Doing
Decentralized
Information
Its in my
noggin!
9. 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
10. Time Based ROI #3: Eliminate Patchwork
Processes
Email Based
Spreadsheet Based
No Reporting
Inconsistent
User Unique
Poor Documentation
Time Consuming
11. 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
13. 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
14. Hidden Dollars ROI #2: Product Claims
At the mercy of others
processes
Its not a focus of anyone…..
Document
times, conversations, values, an
d promises
Provide Reports, create alerts
Ensure legal documentation
Speed collections
Documentation is king
15. 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
16. 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
17. Smart sales organizations formally share what they are working
on and hold partners accountable to help drive revenue
19. 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
20. Company Performance ROI #2: Lead Management
Optimize Tradeshows – get your money’s worth
Make good on your marketing investments
Provide value to customers
21. 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
22. To maximize ROI of a CRM system, you
need to consider all aspects of your
business!
24. 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
25. Recipe for Success
Leadership Engagement
Highlight Excellence
Job Descriptions
Tie to Metrics
No “Free Passes”
Adapt System to YOUR Business
Embrace Mobility
Culture Shift
26. 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
27. 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)