There are many reasons why your current CRM may not produce revenue:
- It’s an electronic rolodex with limited capabilities.
- You can’t get help from the online provider.
- You are not aware of the best ways to use a CRM.
With so many CRMs in the marketplace, how do you know what is available? How do you know what CRM is right for you?
CRMs Come in All Shapes
CRMs offer 3 levels of functionality: Electronic rolodex with tasks; Mail Management; and Automation. CRMs that help produce revenue use built-in automation, sales processes, and segmentation.
An electronic rolodex for under $20/user/month won’t cut it. Define your needs and budget as your first steps.
A CRM’s Power
How many times do you touch a prospect before they become a customer? How long does it take to move through your sales cycle? The answers depend on what you sell.
Some consultants say it takes 8 to 12 touches to close 80% of America’s sales. Imagine if:
- 50% were automated, driving recipients to a demo site or landing page.
- Different messaging went to different groups based on your criteria.
- Sales reps received tasks to follow up on emails sent the day before.
- Clients received promotions based on buying volume.
- Reports showed you what clients had not been touched in X days.
A CRM’s impact can be found at each stage of the sales funnel and is limited only by our creativity!
How Do I Know If My CRM is Helping?
Many businesspeople don’t know the answer because their CRM is limited. So how do you know?
Fred Morgan owns a plumbing supply company and manages 6 sales reps. For years, they used a CRM that was a fancy rolodex. Sales were steady but Fred questioned why they were not growing. What could they do differently?
With their marketing consultant, they focused on:
- Strategies to reach a new set of buyers based on product type and geography.
- Measures to track closing rates, average deal size, and length of sales cycle.
They set goals for each and knew their current CRM would not work.
Did Fred’s New CRM Impact Sales?
With its new, robust CRM, the consultant had Fred’s team up and running in 45 days. On their go live date:
- Clients were characterized by type, buying behavior, and geography.
- New prospects received personalized, automated messaging with discounts.
- Clients received promotions based on sales volume.
- Prospects were added to the sales funnel and sales reps were assigned to them.
The increased outreach, personal attention of the reps, and the messaging were successful. “Our CRM draws prospects into and through our sales funnel, helping me make money.” Said Fred.
Does Your CRM Produce Revenue?
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