The State of CRMs in Today's Business World

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1 CRM for HUMANS A MODERN ALTERNATIVE - to drive - BETTER BUSINESS RELATIONSHIPS

2 Long-term personal relationships formed and nurtured with customers are your biggest competitive advantage in a service-based industry. Taking care of those relationships is hard work, and it s made even more challenging because today s customers expect fast turnaround and informed responses. If you ve looked at a customer relationship management system, you ve seen how it s traditionally designed for high-transaction businesses breaking down, capturing, and managing bits and bytes of data in order to run reports to tell you how your business is doing. But what has happened to the relationship component? Your relationships aren t made up of required fields or data points; they re connections with real people. Shouldn t managing customer relationships be a fundamentally human-to-human interaction, not a robotic one? And that s where CRM for Humans comes in. It s a human-centric alternative to traditional CRMs. The most important thing you can be in today s business world is human. CRMs need to provide insights and intelligence to make us more human in our relationships with customers, employees, partners, and suppliers. That information, and related processes, should work in the background to grow revenue and improve satisfaction, not dilute the customer experience. READ ON TO LEARN MORE ABOUT: The market challenges driving change for relationship-based businesses. Why sticking with the CRM status quo doesn t foster the human component or the relationships that drive business. How relationship management needs to be approached for business success. BULLHORN CRM for Humans bullhorn.com 2

3 HUMANS ARE UNDERRATED: MARKET SHIFT ONE Although machines make our lives easier, more efficient, and far more connected, they cannot replicate human empathy and collaboration. In an article based on his book Humans Are Underrated, Fortune editor Geoff Colvin says that even as technology advances into every aspect of our lives, the qualities that make us human are more valuable than ever. As Colvin argues, It is precisely because technology is playing an increasingly pervasive role in our lives that we must tap into our most fundamentally human skills and traits to succeed in the workplace. We are social beings, hardwired from our evolutionary past to equate personal relationships with survival. We want to work with other people in solving problems, tell them stories and hear stories from them, [and] create new ideas with them, Colvin writes. This desire to work alongside people not machines to solve problems or build relationships has contributed to a more human side of technology, one that allows us to better coexist and adapt together. The future s most valuable skills are not analytical or left-brained skills that computers or robots handle well. When Oxford Economics asked employers what skills will be needed most in the next five to ten years, employers top priorities included the most human skills: empathy, relationship building, collaborating, and problem solving. Human Skills Valued BULLHORN CRM for Humans bullhorn.com 3

4 THE MILLENNIAL MINDSET: MARKET SHIFT TWO More than one in three American workers today are Millennials, making that generation the largest in the workforce, according to new analysis from the Pew Research Center. Art Papas, Founder and CEO of Bullhorn, argues that Millennials are more than an age group Millennial has become a mindset. The Millennial mindset is a way of looking at the world and, regardless of age, declaring, there has to be a better way easier, faster, more flexible and efficient, says Papas. As the first generation that grew up almost entirely with modern technology, Millennials expect to be able to use technology in all aspects of their lives, including at home, in their community, and on the job. The Millennial mindset is driving a continuous improvement in technology for every user. In his Fortune article How Tech-Savvy Millennials Humanize Your Workplace, Papas describes how technologies borne of the Millennial mindset give us flexibility, agility, mobility, and a personal touch. These qualities improve life for all of us, regardless of our age or generation. New Technology Mindset BULLHORN CRM for Humans bullhorn.com 4

5 THE AGE OF THE CUSTOMER: MARKET SHIFT THREE This year, Forrester defined a new era: The Age of the Customer. Thanks to technology, today s customers know more about you and your company than any previous generation. It takes just a few quick Google searches to learn about your products and services, your pricing, and your reputation. Those same few clicks will locate the exact same information about your competition. Today, your company might have a lot of information, but your customers control it. Your customers now not only have opinions, but also a voice, says Danielle du Toit, SVP of Global Services at Bullhorn. This Age of the Customer brings heightened expectations. Customers want quick responses to questions or problems and up-to-the-minute knowledge about their preferences and relationship history. And thanks to this always-on mentality, that information needs to be accessible anywhere and at any time, by employees, partners, and suppliers. According to Cindy Elliott, Vice President of Product and Industry Marketing at Bullhorn, There is a continuous forward push. As general consumers interact with technology in their everyday lives, those same technology experiences will be expected in enterprise relationships too.. Increased Customer Expectations BULLHORN CRM for Humans bullhorn.com 5

6 HUMAN-CENTERED TECHNOLOGIES These three market shifts the increasing importance of human qualities in a technology-dominated world, the Millennial mindset, and the Age of the Customer are bringing about what Papas calls human-centered technologies. Unlike the technology that was born in the 1990s and the earliest days of the 21st century, we are now seeing the emergence of technology that adapts to humans, rather than forcing humans to adapt to it. Think smart thermostats that allow you to save energy by monitoring your house s heating and cooling from your phone, online music platforms that know which song you want to hear based on prior listening, client relationship management systems that know what your clients want before they do. Papas goes on to explain that, at its best, technology should make us more human by channeling the incredible intellectual power we naturally and intuitively possess, and allowing us to live and work more efficiently, collaboratively, and creatively. Unlike the technology that was born in the 1990s and earliest days of the 21st century, we are now seeing the emergence of technology that adapts to humans - Art Papas BULLHORN CRM for Humans bullhorn.com 6

7 THE STATE OF CRM TODAY To understand what these market shifts mean for managing customer relationships, let s review the history of CRMs. The first systems were designed purely as contact management databases they were essentially electronic Rolodexes. They weren t even officially called CRMs. Their primary purpose was storing and organizing basic customer contact information, a core tenet still present in systems today. As time passed, contact management systems continued to evolve and CRM R for that important word, relationship became the proper name. Large vendors entered the market and began including more features, applications, and automation. But the focus remained on requiring users to enter data in a set path and in static fields (many of which were required). Even though relationship made it into the technology s name, there wasn t a focus on how users could utilize the information to build relationships. And while the launch of cloud-based CRM systems brought big changes in accessibility and usability, the robotic component of data entry and reporting didn t change. But that s not how people work today. We re now entering a new era of CRMs that aren t transaction-focused. Service-based businesses still depending on CRMs that require their relationship managers to act like robots and enter fields of data might survive, but they will most likely struggle to grow and create long-term profitable relationships. Business success today is tied to managing and understanding the best customer relationships, which requires time and hard work by humans, not a database. BULLHORN CRM for Humans bullhorn.com 7

8 WHY ROBOTIC CRMS ARE UNDERUTILIZED CRMs have become big business. According to Gartner, in 2014, the worldwide CRM market was $23.2 billion, up 13.3 percent over Bullhorn customer research shows that, in regards to their CRM usage: More than 80 percent of users said My CRM keeps me organized. 59 percent said saves me time. 54 percent said gives me insights. And yet 63 percent of CRM initiatives fail meaning they re underutilized. Why? CRMs have been built for robots, not humans. Many CRM systems are just glorified databases, engineered with only reporting in mind. With no easy way to capture unstructured data, legacy CRM systems marginalize key information that s vital to maintaining and growing relationships. If your process doesn t fit a pre-programmed (and frankly, outdated) data model, you re forced to change to fit a CRM s discrete data fields. According to direct Bullhorn customer research, manual data entry is the most common frustration for 34 percent of CRM users. Reducing complex relationships to simple data records forces employees to act like data robots, and that process doesn t capture the essence of information needed to build relationships with real people. Human relationships are built through unstructured data points like s, phone calls, and texts. Most robotic systems were designed without the ability to programmatically handle unstructured data. BULLHORN CRM for Humans bullhorn.com 8

9 In today s fast-paced business environment, who has time to remember to go back and enter information? If you were to ask any salesperson what he or she would do with one extra hour each day, would that time be spent providing value to customers or entering CRM data? Hands down, interacting with customers would always win, Bullhorn s Elliott says. Sadly, Bullhorn s direct customer research found that 59 percent of CRM users combat these issues by using an Excel spreadsheet to supplement their CRM. THE HIDDEN COST OF STICKING WITH THE STATUS QUO Customers demand that interactions be more personal. Companies face pressure to grow and innovate. Employees want to be more human in their relationships. Robotic data fields alone don t deliver quick responses and superior customer service. Traditional CRM systems don t give insights into profitable relationships or general account sentiment. Manually entering information turns salespeople and customer service into data robots. Relationships waver and crack, and fed up customers eventually leave. New opportunities stagnate or, worse, decline. Employees quickly burn out or quit. BULLHORN CRM for Humans bullhorn.com 9

10 CRM FOR HUMANS IS MOBILE-FIRST The more human-friendly your CRM is, the more people will actually use it. Unlike CRMs built around transactional sales models, CRM for Humans is built through a relationship lens. Instead of just showing all of the contacts at a company, CRM for Humans translates captured information into intuitive insights organized into simple, straightforward visuals, showing things like your top engaged contacts and the best time to connect.. CRM FOR HUMANS Build Better Relationships Radical Ease of Use Relationship Insight Proactive Intelligence BULLHORN CRM for Humans bullhorn.com 10

11 CRM FOR HUMANS MANAGES RELATIONSHIPS BETTER For relationship-driven organizations, what are the guiding principles needed today to make us more human in our relationships with customers, employees, partners, and suppliers? 1. Radical Ease of Use Improves Sales Productivity CRM for Humans is radically easy to use and built for today s high-volume, multitasking business environments, keeping your employees focused on customer interactions and not on database management. Solutions built on a single infrastructure (rather than a combination of platforms pieced together ad hoc) fluidly manage the entire customer lifecycle. CRM for Humans is built for mobile first. Users can be productive anywhere and at any time by working seamlessly across smartphones, tablets, and desktops. CRM for Humans is also completely automated to capture customer interactions. Instead of requiring you to tell your CRM what you ve done already, CRM for Humans improves staff efficiency by scanning and recording interactions for you. No more brow-beating users to enter data. While they re off focusing on being human with customers, the CRM does the work for them. 2. Relationship Insight Improves Customer Satisfaction Unlike CRMs built around transactional sales models, CRM for Humans is built through a relationship lens. Instead of just showing all of the contacts at a company, CRM for Humans translates captured information into intuitive insights organized into simple, straightforward visuals. More importantly, CRM for Humans captures customer sentiment to flag issues that need immediate attention before they escalate. Robotic, data-driven systems only record an issue after it s happened. Rather than using historical data to analyze the present, CRM for Humans provides insight into what s happening right now and gives you a true picture of your real-time customer satisfaction. BULLHORN CRM for Humans bullhorn.com 11

12 3. Proactive Intelligence Helps Grow Revenue What do your employees need most? Recaps of s sent or calls made? Or maybe they need intelligence about what to do next, what call to make, and what relationship requires their direct efforts? Rather than just serving as a repository for data that lives in the past, CRM for Humans is predictive and enlightening, telling you what to do next. As customer interactions unfold in real-time, CRM for Humans reprioritizes and proactively anticipates new opportunities to help you close the next deal more quickly and easily. DON T LET THE ROBOTS RUN YOUR BUSINESS Your business relationships are your most critical business assets. Don t let them fall victim to the robots. To retain customers and win high-value new business in today s competitive marketplace, a new approach to managing customer relationships is needed: a CRM for Humans. Contact us or learn more by visiting BULLHORN CRM for Humans bullhorn.com 12

13 ABOUT BULLHORN Bullhorn provides cloud-based, human-friendly CRM solutions for companies in service-based industries. Bullhorn CRM is built for the way businesses work now. Its data capture and customer insight technology puts the most up-todate and powerful information at users fingertips to give them everything they need to win customers and keep them happy. Today, Bullhorn serves more than 10,000 clients and 350,000 users, and its software solutions are used by some of the world s most prominent services enterprises to help increase sales, improve service delivery, and streamline operations. Headquartered in Boston, the company has offices in St. Louis, London, and Sydney, with 500 employees globally. The company is founder-led and backed by Vista Equity Partners Farnsworth Street, 5th Floor, Boston, MA (617) BULLHORN CRM for Humans bullhorn.com 13

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