Overhauling Your Sales Opportunity Management Engine for CRM Best Practices Powered by: CONTACT MANAGEMENT WELCOME!

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1 Overhauling Your Sales Opportunity Management Engine for 2011 CRM Best Practices Powered by: CONTACT MANAGEMENT WELCOME! 2011

2 Overhauling Your Sales Opportunity Management Engine for 2011 CRM Best Practices Powered by: CONTACT MANAGEMENT Presented by: Christina Runions Reynolds Consulting Services 2011

3 Overall Webinar Series Approach Calendar for 2011 February: Overhauling Your Sales Opportunity Management for 2011 April: Showroom Opportunity Management June: Internet Opportunity Management August: Inbound Phone Opportunity Management October: Database Opportunity Management December: The 3 Most Effective Follow-Up Techniques You re Not Using 2011

4 Roadmap for Today Opportunity Management Trends/Issues Overhauling Your Sales Opportunity Management Engine for The 6 Ps for Opportunity Management 2. Overhauling the Engine 3. Measures, Reports & Coaching What s New in CM 7.1 Q & A For More Information + Special Offers 2011

5 Opportunity Management Trends/Issues Does this sound like your dealership? Random chaos Reinventing the wheel Role confusion or task overlap Inconsistent or no follow up Stress and frustration Prospects lost Inaccurate traffic counts Inability to measure or understand sales process effectiveness Lost revenue and commission 2011

6 The 6 Ps for Sales Opportunity Management 1. Purpose 2. Principles & Posture 3. Process 4. People 5. Performance Management 6. Pay Plans As we proceed watch for: Process Technology Benefit

7 The 6 Ps for Sales Opportunity Management P #1: Purpose 1. Where can I find it in the dealership? 2. How do new associates learn it? 3. Does everyone believe it? 4. Does everyone act like it? 5. Would your customers believe it if you told them? 4 characteristics: Specific & precise Concise Clear Goal-oriented

8 The 6 Ps for Sales Opportunity Management P #2 - Principles & Posture Business Rules Definition o How things will be run Thresholds Quantities Quality levels Incentives Management Principles o Philosophies Aggressive vs. soft sale Approaches Policies

9 The 6 Ps for Sales Opportunity Management P #3 Process 1. Do we have? Standard Operating Procedure 2. How does everyone learn it? 3. Does everyone follow it? 4. Can we handle the load? 5. When something s not working, how do we address it?

10 The 6 Ps for Sales Opportunity Management P #4 People 1. Do we have enough people doing that? 2. Do we have too many? 3. Do they all know what to do? 4. How are they trained? To diagnose D K D E

11 The 6 Ps for Sales Opportunity Management P #5 - Performance Management 1. Are standards set? 2. Are they SMART? Specific Measurable Attainable Realistic Time-Bound 3. How often are they reviewed? 4. Is the team bought-in to the goals and are there +/- impacts?

12 The 6 Ps for Sales Opportunity Management P #6 - Pay Plans 1. Support SMART goals 2. Key #1= Attainable 3. Key #2 = Timely Payout

13 How to Use Contact Management to Do It: Overall Mindset: o Pre-program your business logic and personality YOU inform what happens in CM How CM directs traffic is what your customers experience with you Better customer experience = more effective opportunity management Create Pull vs. Push Overhauling the Engine

14 How to Use Set-up options: Overhauling the Engine

15 How to Use Contact Management to Do It: Written Correspondence o o Letters o Direct mail o Private offers Timelines Good events Don t waste your time contacts Overhauling the Engine

16 How to Use Contact Management to Do It: Verbal Scripts Inbound Good ones Don t try it on Outbound Good ones Don t try it on Often overlooked & underused Surveys Why are they effective? Overhauling the Engine

17 Sources vs. Types what s the difference?? Overhauling the Engine Catching new Prospect sources Lead Types: Why do they matter? Setting up new lead sources Best practices on types

18 Internet Leads: Best practice: Setting up Internet leads What CM does automatically o AutoResponse send automatic 1 st response message o Lead Notification forwards lead to BlackBerry or other address o Lead Escalation sends to someone else if not responded to quickly enough (can allocate amount of time) Scheduled follow-up Best Practices: o The most effective current practice I see today is Overhauling the Engine

19 Phone: Best practice: How phone leads handled o What is it? o Phone Lead Treatment Who s Calling, CallBright o Rep Codes automatically feed leads to the correct salesperson once Rep code is entered o Ability to review calls Scheduled follow-up Best Practices: o The most effective current practice I see today is Overhauling the Engine

20 Measure & Manage for Best Results: 1. Accountability techniques 2. CM reports you should use 3. Benefits you can expect Results Coaching Opportunities Measures, Reports & Coaching

21 Accountability:

22 Prospect Source Measurements o What to look for o How to coach from it Measures, Reports & Coaching Log and Activity Report o What to look for o How to coach from it

23 Salesperson Prospect Performance Report o What to look for o How to coach from it Measures, Reports & Coaching

24 Coaching Know where to coach Performance culture expectation Healthy competition and positive motivation Plugged profit leaks Improved sales revenues and commissions

25 Benefits for Measures, Reports & Coaching Avoided or reduced chaos & role confusion Stop re-inventing the wheel Stop duplicate work More efficient customer communication Aggregated & large pool of leads Better control through centralization More accurate traffic counts Valuation of Prospect sources Valid close rates Less stress Hopefully!

26 Wrapping Up Overhauling Your Sales Opportunity Management Engine for Remember The 6 Ps 2. You Might Need to Overhaul the Engine 3. Measures, Reports & Coaching

27 What s New in Contact Management Reporting: a. Six Standard Reports Added 2. Lead and Opportunity Management: a. Manage Invalid Addresses More Efficiently b. New Prospect Distribution Criteria c. Add Permission for the View/Modify Social Security Num Task d. View Detailed Prospect Information in Forwarded e. Enhanced Chrysler and Volvo Lead Originators 3. New Owned Vehicle Collection Criteria 4. Additional Home Page Options

28 What s New in Contact Management Enhanced Service Functionality: a. Activate Schedules Based on Service Appointment Creation Date b. New Service Appointment Collection Criteria c. Easily Enter Vehicle Mileage for New Service Appointments d. Automatically Enter Complaint Statement for Service Items 6. Enhanced Criteria for the Activity Audit Report 7. Support discontinued for Internet Explorer 6.0

29 More Information 1. For Technical Assistance: : How to contact Reynolds Consulting Services consulting@reyrey.com 3. Reynolds Consulting Services Special Offers 4. Short esurvey coming from Gail Doherty, Reynolds Research Consultant 5. Follow-up from Reynolds Consulting and FAQs 2011

30 Overhauling Your Sales Opportunity Management for 2011 CRM Best Practices Powered by: CONTACT MANAGEMENT THANK YOU FOR ATTENDING! 2011