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How a CRM software tool can help with your business strategy

Posted by Luke Russell
Luke Russell
Luke Russell has been CRM consultant since 1998. Luke has personally consulted
User is currently offline
on Friday, 15 April 2011
in Uncategorized

I am often asked for examples for how an integrated CRM software system can help with business strategy, this blog will hopefully serve as a starting point as you consider using CRM software as a tool.

As you probably know from reading my blogs, and from researching CRM on the internet, CRM is not about software.  CRM is a business strategy, and software is a tool that will help you with specific areas of your overall CRM business strategy.  Here is a short list that I have come up with on how an integrated CRM software system can aid a CRM Business Strategy:
 

CRM Sales Stragegy

Sales:
  • Provide greater visibility into the sales pipeline
  • More efficiently and accurately report on sales pipeline  
  • Better track probability of close, products, lead source, status and competitors
  • Eliminate the need to browse for exceptions by automating alerting users as to the exceptions (for example, quotes requiring follow-up and customers that have not ordered in xxx days)
  • Reduce attrition through fading customer alerts
  • Qualify prospects with a standard qualification process
  • Manage customer and prospect relationships from virtually anywhere via the web and wireless devices including BlackBerry and Pocket PCs
  • Increase average customer value by increasing the number of orders per year and the size of orders
 
Marketing:
  • Streamline marketing and sales campaigns 
  • Create customized marketing campaigns
  • Better analyze ROI of marketing campaigns
  • View campaign results in real time to better analyze performance of campaigns in progress
  • Evaluate forecasted vs. actual return for each lead source, region or media type
  • Automate distribution of leads
  • Automate lead follow-up
  • Coordinate between marketing and sales
  • Service:
  • Quickly resolve customer questions, issues and requests
  • Reduce cost of each customer transaction
  • Provide everybody in your company with access to the same customer data
  • Develop a knowledge base for future problem solving
 
Process:
  • Automate the sales cycle
  • Standardizes and automates processes (such as sales processes based on product line, deal size, territory or lead type)
  • Ensures that procedures and processes are being followed
  • Standardization of quoting practices
  • Increased quote conversion through automated follow-up and best practices
  • Reduce the amount of time spent to generate a quote
 
Efficiency:
  • Shorten new employee ramp-up time with data visibility in one place
  • Save time by eliminating multiple sources of data and auto populating all systems at the same time
  • Provide a single view of the customer that allows everyone to view all interactions with the customer and the customers purchasing behaviors
This by no means is an all-inclusive list (since I think that would be impossible to create).  This list was taken from our seminar "The secrets to customer acquisition, retention and increased profits."  If you would like to know more about implementing CRM software to coincide with your business strategy, you can request more information here.
 

Luke Russell 

Resolv, Inc.

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Luke Russell has been CRM consultant since 1998. Luke has personally consulted with hundreds of organizations, and has a strong success record for CRM implementation and results. During this consulting, he has worked with customers to achieve such lofty goals as higher quote win ratios, larger average order size, more effective trade-show follow-up, reduced cost of administration, increased customer retention, and expanded cross-sales into existing customers; to name a few.



Luke’s other business experience ranges from owning an advertising design and publishing company, to managing the state-wide marketing of loan products for a Wisconsin based bank. He also was the general manager of a national newspaper in Nicaragua for three years.
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Comments

Guest
Jae Monday, 24 October 2011

Interesting. My friend owns a company that has this.

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Guest Monday, 21 May 2012

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