Exact Online CRM IN THE CLOUD. The New Selling.

Transcription

1 Exact Online CRM IN THE CLOUD The New Selling

2 TABLE OF CONTENTS Introduction 01 Management summary 5 02 The importance of CRM 6 03 CRM in everyday practice 8 04 CRM and the sales process The sales pipeline and results The Effectiveness of marketing CRM success factors 15

3 CRM IN THE CLOUD 3 INTRODUCTION The New Selling is becoming increasingly popular, the collective term for a whole new trend as companies move their Customer Relationship Management (CRM) into the cloud. What exactly does that all entail? Why are people doing it? And what s the best way to succeed? Whether you re in the process of selecting a CRM package, already rolling 1 out, or just think you should find out more about it, this white paper contains practical info and detailed explanations for beginners of CRM in relation to The New Selling. If you still have any questions or would like to find out more, just get in touch with the experts at Exact.

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5 CRM IN THE CLOUD 5 01 MANAGEMENT SUMMARY What does CRM stand for? CRM stands for Customer Relationship Management. It helps you to maintain a good relationship with your customers more easily. Giving you a better chance of contacting them at the right time with all the info you need to make your pitch. As you probably already know, that s easier said than done. Good CRM, an effective CRM system and a new way of dealing with customers can make all the difference. Introducing The New Selling So what is The New Selling all about? Well, it simply comes down to 2 simple facts: 1. Customers have an ever-decreasing amount of time for face-to-face appointments with sales reps. 2. All the info they are likely to need is often a click or 2 away on the Internet. In short, online is taking the place of in-person. How do we respond? Depending on the type of product and the sector, this new way of selling typically develops by: undertaking more business online and via social media. reflecting this in mobile-focused communications. linking sales to a CRM system. The impact of CRM on sales roles So what does CRM actually mean in everyday practice for the various roles in sales? It offers sales staff access to customer info. It provides managers with clear insights into the results and developments taking place in the sales field. The importance of insight into customers CRM puts customer relationships onto centre stage. In collecting as much info about customers, agreements, products and services as possible, CRM helps companies know their customers better and respond to their needs more effectively. Defining the sales process A clear sales process will deliver greater efficiency and enhance returns. So before you start working with CRM software, it s a good idea to define the context in which it will sit: the different steps of the sales process. the people responsible for them. how the end result, turnover and profit are all measured. Setting up a CRM system in the cloud Collecting, segmenting and storing CRM data is increasingly being done in the cloud. That means the software is online, secure, and accessible from anywhere, rather than being physically installed and maintained locally. Besides being flexible and cost-efficient, the cloud offers far-reaching benefits to a saledriven organisation. Online marketing, analysis and success factors Finally, this white paper will provide an insight into the way online marketing, analysis and success factors influence the implementation and use of CRM software.

6 6 CRM IN THE CLOUD 02 THE IMPORTANCE OF CRM Nowadays, the Internet and ever better hardware and software provide instant access to vast amounts of info info that can be looked up and used at any time, from anywhere. CRM can harness this power to control your customer data. 2.1 CUSTOMER CONTACT AND CRM Despite the exponential rise of digital media and communications, it s still important to meet customers face to face as we cruise down the information superhighway. It s also crucial that this contact occurs at the right time, with the right info to hand. 2.2 THE CUSTOMER RELATIONSHIP TAKES CENTRE STAGE CRM puts customer relationships onto centre stage. In collecting as much info about customers, agreements, products and services as possible, CRM helps companies know their customers better and respond to their needs more effectively. 2.3 FROM SPREADSHEETS TO CRM For some strange reason, many companies continue to attach a great deal of importance to spreadsheets. Yet using a spreadsheet program such as Microsoft Excel to share and process customer info with colleagues is far from ideal. Mistakes are copied, updates are missed, latest versions are lost At the same time, CRM in the cloud makes it a breeze to save data in a structured and straightforward way for use in sales and marketing. 2.4 WHICH CRM SOFTWARE WORKS FOR YOU? CRM software come in any number of shapes and sizes. Choosing the 1 most suitable for your company will depend on a number of factors: The size of your organisation. The number of customers. The complexity of your products and/or services. The sector in which you operate. The features you require.

7 CRM IN THE CLOUD THE BENEFITS OF CRM IN THE CLOUD Cost-efficient With software in the cloud, there is no longer any need to install or maintain it on your premises. No big upfront investment in new software or hardware is required. In fact, there s no need to run your own servers anymore. You just pay a fixed monthly fee. That s all there is to it. More mobile Thanks to the cloud, info is becoming increasingly mobile. Everyone has instant access to the same data from anywhere and in realtime, from Macs and PCs as well as smartphones, tablets and laptops. That offers obvious benefits to people like sales representatives, who spend a lot of time either on the way to or on the premises of their customers (and even sometimes in restaurants). Fast and flexible Customer relationship managers, project managers and service engineers also increasingly need remote access to key info while travelling, on site or even from home. The cloud allows them to act more quickly and work more flexibly, without having to hunt down the latest version and then remember to back it up. Connected business By integrating financial and project/logistics systems into the cloud alongside your CRM, you ll seamlessly connect all operational processes. That opens a world of benefits, such as centralising data so that info only needs to be entered once. Improved productivity, better results CRM supports employees in their day-today work, helping them to work smarter and offer a better service to customers. That can significantly raise levels of customer satisfaction, which more often than not will be shown in your sales figures not to mention your bonus. EXAMPLES OF CRM APPLICATIONS A good CRM system will play an invaluable part in any customer-centric approach. The benefits reach across every aspect of your business to streamline your process, improve efficiency, and save you time and money (and probably a lot of headaches too). Gain instant access to customer contact info. Document contact reports and agreements directly onto your system. Record quotes and ensure they are followed up on time. Gain insight into historic sales data. Analyse turnover by market segment. Forecast future turnover more accurately.

8 8 CRM IN THE CLOUD 03 CRM IN EVERYDAY PRACTICE Sales opportunity > Quote > Project > Invoice > Finance In today s dynamic 24-hour economy, more info is available than ever before. Managing and using data in the right way provides you with a competitive edge, helps you to quickly adapt to the changing dynamics of the market and leave the competition behind. USE LINKEDIN FOR ACQUISITION LinkedIn can really help with your acquisition. Company profiles generally list employee names and their roles. You ll often find the person you want to get in touch with is 1 of your 2nd or 3rd line contacts. By asking your 1st line contact to formally introduce you, you quickly and easily create a warm lead. 3.1 THE NEW SELLING So what s this The New Selling all about? Well, it simply comes down to 2 simple facts: 1. Customers have an ever-decreasing amount of time for face-to-face appointments with sales reps. 2. All the info they are likely to need is often a click or 2 away on the Internet. In short, online is taking the place of in-person. How do we respond? Depending on the type of product and the sector, a new way of selling typically develops by: undertaking more business online and via social media. reflecting this in mobile-focused communications. linking sales to a CRM system. 3.2 PUT THE WIND IN YOUR SALES Social media are great tools for your sales reps. Take cold acquisition, for example. You can waste a lot of hours or even days ringing contacts or visiting them, mainly because you never know whether they need your product at that particular time if ever. But what if your website receives a number of hits from visitors, directed there from an online advertisement, or say a Tweet that got their attention or a blog that raised their interest? By definition, these visitors may well be interested in what you have to offer right now and you haven t even had to pick up a phone. Knowing how to use social media can help to generate a lot more warm contacts than not so good old-fashioned cold calling, in the same amount of time. In short, it represents a different way of selling. The New Selling. 3.3 THE IMPORTANCE OF CRM AND SOCIAL MEDIA The Internet is becoming an increasingly valuable tool for identifying and interacting with prospects and customers. When it comes to social media, your online visitors will largely determine the content of your posts, Tweets, blogs and updates, as well as strongly influencing whatever happens to be trending at any given time. The benefits of CRM in social media: Modern CRM systems incorporate social media platforms, so you can stay up to the minute with customers via their profiles, Tweets, status and other public online activity. Social media platforms are not only up-todate but also easily shared. That makes

9 CRM IN THE CLOUD 9 them extremely useful in reaching niche markets, as well as getting feedback from customers on products and services at minimal cost. In turn, the info CRM helps you obtain can make a valuable contribution to improving your processes, products, and services - and ultimately increasing your turnover. 3.4 IT S TIME FOR INTEGRATED BUSINESS SOFTWARE Companies that grow to a certain size will generally require financial and/or Enterprise Resource Planning (ERP) software. This will incorporate any or all of the accounting, invoicing, project management, logistics and manufacturing processes in addition to your CRM. As part of an integrated ERP system, CRM lets you: enter customer data just the once, avoiding mistakes and duplication. instantly apply data to sales activities. generate a quote as soon as a sales opportunity has been entered. automatically change quotes into an order or project. view project, logistics and financial data, such as outstanding items, on the customer card. build a complete picture of the customer. integrate CRM with word processing, spreadsheets and . link to cloud services such as Office365 and Google apps for smarter sharing of sales info, anytime, anywhere. reduce IT costs with less hardware, fewer licences and reduced management. spot pain points and take action more quickly and flexibly. increase efficiency through time savings. 3.5 IMPROVE YOUR SALES SUPPORT When dealing with customers, office sales staff need fast access to the right info, such as details about a previous order or price agreements. CRM software can provide everything they need to know instantly. CRM software lets sales staff: register quotes automatically containing customer references and internal serial numbers. provide up-to-date overviews of outstanding quotes for sales. representatives, with date and time of follow-up. enter contact reports into the central system quickly and easily. pass on follow-up steps to the sales representatives - and vice versa. 3.6 GET RELIABLE MANAGEMENT INFO Sales manager and directors need a comprehensive overview of the entire organisation, from the number of orders likely to be received in the coming period to the overall status of the company. CRM software provides this insight to let management: gain holistic insight of the entire business. spot problems and take corrective action sooner. quickly identify trends in customer activity and turnover. improve sales through insight into customer sales behaviour. 3.7 TURNING RAW DATA INTO USEFUL INFO The more complete and accurate customer info a CRM system contains, the better. Theoretically speaking, there is a difference between data (i.e. the data you enter into your system) and information. Info is a product of data that has been compiled, compared and processed over time to identify useful insights such as trends and opportunities. Examples of insights from CRM data analysis: Sales activities per type of customer. Sector trends. Size or number of employees. CRM data analysis lets you: use relevant info to support sales, make better decisions etc. combine data fields with segmentation or classification variables. sort relationships on the basis of type, size, sector, sub-sector, region etc. generate relevant contacts on the basis of historic sales transactions ideal for crossselling and upselling. make faster decisions based on realtime info and reports. DID YOU KNOW As of million new Twitter accounts are created every day? LinkedIn has over 225 million members worldwide?

10 10 CRM IN THE CLOUD 04 CRM AND THE SALES PROCESS A well-defined sales process will help you to manage your workflow and lay the foundation for an effective CRM system. Just like any other aspect of your business operations, sales can be divided into a number of phases. You re undoubtedly well aware of this, but let s go over the basics just in case.

11 CRM IN THE CLOUD 11 Advantages of dividing your sales process into phases: The working method becomes clear to everyone. The process becomes transparent and measurable. Sales can be streamlined and efficiency improved. Turnover can be increased. 4.1 THE 3 MAIN PHASES IN THE SALES PROCESS Phase 1 From marketing to sales opportunity Without marketing, there are no sales. Marketing activities prepare the ground, plant the idea, and produce this awareness within the target market. Phase 2 From suspect to prospect A potential customer is referred to as a suspect. Suspects aren t necessarily interested in the company, service or product. After a call or a meeting you ll know if there s interest, in which case the suspect becomes a prospect. The New Selling has a clear impact on this phase, with social media and online tools helping you to identify prospects more quickly and easily - by bringing them to you. Worth noting: Value the customer! It takes far more effort to win a new customer than retain an existing 1. Make sure you always meet your customer commitments. Actively maintain your relationship with the customer after delivery, not only to make sure you keep the account but to develop and grow it too. Consider how you can turn the customer into an enthusiastic ambassador for your company. Marketing materials that are more effective than word-of-mouth referrals have yet to be invented. 4.2 HOW TO APPLY THE 3 PHASES TO CRM As we ve just seen, the status of relationships changes during the sales process from suspect to prospect to customer. Ensure every relationship is updated to show the correct status within the process to accurately segment your CRM database. This is essential to planning relevant marketing and sales activities. Try to avoid creating too many sub-phases on the sales process (e.g. identification of needs, quote and negotiations) to keep it all clear, transparent, and manageable. Monitor the sales process regularly to keep on top of sales opportunities as they progress through the different phases. Phase 3 From prospect to customer Assuming the follow-up goes well, you can now start working towards producing a quote, or better still - an order. That s when the prospect can be added to your CRM database as a fully-fledged customer.

12 12 CRM IN THE CLOUD 05 THE SALES PIPELINE AND RESULTS Regular analysis of the sales pipeline, an up-to-date overview of the activities and developments in a sales process, provides an accurate picture of how well a company is doing in terms of future business. It essentially works by plotting leads against the different phases of the sales process, then measuring their progress through the pipeline from prospect to satisfied customer allowing you to estimate incoming cash flow. 5.1 THE VALUE OF INSIGHT INTO SALES OPPORTUNITIES This knowledge is relevant and valuable to every aspect of the sales process, reaching far beyond the ability to estimate future earnings. For example, it can help you to identify weak points in your sales operation and reduce the leaking of customers. It also gives you the power to: plan follow-up steps more efficiently. gain greater insight into opportunities. serve customers more quickly. understand the competition. monitor the progress of sales processes. steer and coach sales staff more effectively. identify bottlenecks in the sales pipeline. increased chances of success. manage projects more efficiently. estimate workload, production and stock control more accurately. 5.2 WHERE CRM IN THE CLOUD COMES IN A CRM system is an excellent way of gaining better insight into the sales pipeline. You don t need to invest in a heavy, complex CRM package when a straightforward, more streamlined CRM in the cloud will do the job just as well and in a more flexible, userfriendly and cost-effective way. Online CRM software will provide you with the regular, realtime and instant insight you need into: turnover per period. the sales pipeline. sales estimates. quotes. At a later stage you can refine or extend the info you want. Just bear in mind that to make the most of a CRM system, you want to focus on the most relevant info such as: results per member of the sales team. results per sector/subsector. results per source or campaign. orders won and lost. reasons why orders were lost. competition analysis. most successful products or services. In short, cloud-based CRM gives you all the info you need to define, refine and make the most of your sales process.

13 CRM IN THE CLOUD RETURN AND RELEVANCE These new levels of knowledge can empower a company to take highly targeted action at any point in the sales pipeline and improve conversion ratios. Ways to improve the conversion ratio include: adopting an alternative sales strategy. improving specific skills of sales staff (e.g. opening a dialogue, closing a sale). changing the product and/or service portfolio. improving products or services. Consequences of these improvements: More sales staff successfully completing a greater number of sales. Greater insight into the tools required to help sales staff succeed. Sales staff and management working together towards the same, clear goal: the optimisation of sales results. Improved sales results that are also measurable, providing a set of metrics to help optimise them even further. 5.4 SEGMENTATION OF DATA For optimal impact, CRM info should be structured in such a way as to be easy to find and easy to view. This can be done by categorising data by customer, salesperson or sales opportunity, for example. Segment by customer: classify customers by size to help sales staff to identify the accounts that require most attention. Segment by salesperson: sort sales info by customer relationship manager. It can also be useful to subdivide by sector or by size. Segment by sales opportunity: depends on the sector in which you operate. A professional services provider may want to classify sales opportunities by type of project or service, while a wholesale distributor might classify by product group. Visualise it Presenting sales info in a more graphic format also makes it easier to understand quickly. So CRM in the cloud will usually have a sales dashboard that allows everyone to see key business info at a glance. 100,000 80,000 60,000 40,000 20,000 0 August September October Identify need Negotiations Quote Won November December January Identify needs Quote Negotiations

14 14 CRM IN THE CLOUD 06 THE EFFECTIVENESS OF MARKETING We ve already touched upon the role of marketing in generating new leads. Social media in particular can drive significant numbers to your website to look at specifications, watch demos, ask questions and submit requests and create contacts. 6.1 THE ROLE OF CRM IN YOUR MARKETING CRM can be effectively used to support marketing campaigns in a number of ways: Segmenting customers into distinct categories helps to market the right products and services to the right people. Linking your CRM software to an existing database (e.g. from the Chamber of Commerce) makes it extremely fast to enter customer addresses and ensure your database remains up-to-date. By entering activities, documents and contact lists into the CRM system per campaign, you can produce a cold calling list for several contacts at a time. 6.2 WHY USE MARKETING? Things to bear in mind: Make sure your mailing list is accurate and up-to-date. Ensure recipients have given their permission. Make it easy for recipients to unsubscribe. Actively manage your campaigns using online software like MailChimp ( which shows the number of s that are read and opened, helping you to optimise future campaigns. Linking CRM and marketing Integrating marketing management into your CRM will allow the 2 systems to automatically exchange customer data and campaign results. This provides you with a clear overview and goes a long way in preventing double entries. 6.3 MEASURING THE EFFECTIVENESS OF YOUR MARKETING How do you know which lead comes in via which channel? When dealing with different marketing campaigns across a range of channels, each requiring a certain level of investment, it pays to know which is the most effective method of attracting new customers. A CRM system gives you that info by plotting orders received against the original source of the first contact. marketing has become the most frequent form of direct marketing, allowing companies to send highly targeted messages quickly and cost-effectively. CRM and e-commerce In addition to marketing activities, an increasing number of companies are using e-commerce to collect leads. Linking e-commerce to your CRM system leads to the ideal scenario of customer and sales data being directly entered into the system by the customers themselves.

15 CRM IN THE CLOUD CRM SUCCESS FACTORS Successfully implementing CRM in the cloud relies first and foremost on solid preparation. Involving your employees plays an important role: after all, they re the ones who will be using it every day. 7.1 SUCCESSFULLY IMPLEMENTING YOUR CRM Remember: the customer is key. Keep your strategy clear. Focus strategy on customer satisfaction, loyalty and retention. Encourage management to support and promote the implementation as much as possible (among other things, by making sure the people who need to get involved are free to do so). Implement the rollout in phases. Use a step-by-step plan to divide and manage tasks. Involve customers in the process wherever possible to ensure a smooth transition for everyone. 7.2 THE IMPORTANCE OF DATA QUALITY Keeping data up to date, accurate and clean is a challenge even when it comes from a single source, never mind several different ones. Speed of access to the right decision makers can make or break success in sales, so always bear in mind the following: Accurate entry and proper maintenance of data on customers is vitally important. Data should be processed on a daily basis to prevent the workload piling up and the CRM system used less effectively or not at all. Input and maintenance of variables for optional fields such as sales staff, phases, classifications, categories, etc. should be managed by 1 person to safeguard quality. There s nowhere for incomplete or incorrect data to hide in a CRM system. Keep it (automatically) corrected so customer info remains up-to-date. 7.3 AND FINALLY A good CRM system offers business-wide benefits. It makes it easy to put the customer at the heart of your operations. Lets you connect your different operations for seamless oversight. And by moving sales data to the cloud, provides secure access anytime, anywhere, from any Internet-enabled device mobile. But like any process of change, CRM shouldn t be rushed into and needs to be widely supported within the company. Be careful not to lose sight of your CRM goals: to offer the best customer service possible, maximise customer satisfaction, and increase sales. In the case of sales you could say that, The New Selling or not, the buck still stops with good sales staff - and always will. But with an efficient CRM system in the cloud, you can can add impact to your marketing, identify and categorise leads more quickly, and ultimately increase your sales. And who s going to argue with that?

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