Think five years’ back to what customers required. Digital and social media were just starting to make their impact. The recession hit. Customers began to look for diverse ways of developing business through innovative channels. It’s highly likely that their behaviours have changed significantly since then with prospects managing more and more of the process themselves. Now customers can travel through the sales funnel with savvy use of brand websites and social media reviews with no human interaction.
Here are five signs your business is potentially stagnating because it doesn’t work with other service and applications to listen to the digital voice of your prospects.
1. Look out for a system which integrates with
Email marketing – Capture the response rate of your recipients, track the most successful communications, and have the data fed by in the CRM. This can then be used to create behavioural marketing lists for highly targeted campaigns, boosting the ROI of your e-marketing activity.
Web tracking – Connecting your web tracking service with your CRM allows your sales and marketing team to immediately identify hot prospects based on the time they’ve spent on your website and even the specific pages they’ve visited.
Another benefit to this integration is the increase in return from other marketing activity such as SEO, PPC and social media; sales and marketing teams are able to proactively follow up the targets that have yet to enquire.
Surveys – Integrate with websites and survey tools to collect and analyse feedback in your CRM that measures customer sentiment and highlights problem areas.
2. A bad case of ‘information overload’
For most businesses, lack of information is no longer an issue since they work in the Information Age. It’s essential sales and marketing teams process the often overwhelming information available to them somehow translating it into ammunition for closing a sale.If it takes longer than a few seconds to get an accurate and in-depth picture of a customer’s history, or a source of Information from multiple sources then manually piece it together, it’s likely that the CRM system has seen better days and it’s wise to consider a cloud-based CRM which provides centralised, secure access to masses of information in an easily digestible way.
Choose a well-designed application and the sales team can sift, sort and use the data they need, when they need it.
3. Is it a team player?
The Harvard Business Review recently found if a business was able to increase its customer retention rates from as little as 10-15%, the profits it generated could be doubled, productivity, efficiency and consistency in your business is more crucial than ever. As customer satisfaction and retention grows increasingly important the ability to integrate with other business applications such as finance and email is essential for understanding the full picture of a customer or prospect. Without it, there can be a massively negative impact on those three key elements; productivity, efficiency and consistency.
The solution is to opt for a CRM solution that works with your other applications, not against them.
4. Reliance on memory
Could your CRM step up if a key team member leaves taking valuable knowledge? If your CRM system is not process-driven and instead relies on the memory of others this is a key gap in your ability to deliver on business as usual. The answer here is to run a solution with a process-driven solution which guide users through tasks including lead qualification, service cases and sales opportunities by following pre-defined steps and best practices.
There are systems on the market to enable this such as Microsoft Dynamics, Maximizer, Salesforce.com and Zoho.com.
5. Your CRM isn’t your first visit for analytics
It is, of course, essential to know the results of your efforts – whether that’s as amarketer or a salesperson. It allows you to understand what worked and what didn’t, where your targets currently sit within the sales funnel and how your pipeline is shaping up. Does your system tell you what you need to know?
If you find yourself having to ask other members of your team – or even having to go through the hassle of speaking with other departments – just to find out how your campaign is running, you run the risk of not seeing the whole picture, focusing your time on the wrong leads or even losing leads entirely
Best get an update-to-date and accurate CRM system to match your activity and your targets.