white paper Spotting Opportunities With Your CRM 3 Must-Fix Issues To Boost Lead Conversion & Accelerate Deals In today s competitive environment, companies are both increasing their investments in lead generation to stay ahead early in the sales funnel and amping up the pressure to create opportunities in the late-stage sourcing pipeline. That means both marketing and sales are under the gun to prove that leads convert and deals accelerate into revenue. No longer is sales alone in its revenuegenerating efforts, and marketing doesn t simply send leads over the wall to sales. While marketing remains on the front end of the lead cycle and the sales process, its contribution to the bottom line is more visible and its responsibility more expansive than it used to be. In fact, according to a recent Demand Gen Report survey, more than one third (33.7%) of respondents said their marketing organizations have lead- and revenue-based quotas in place. So what is the best way to help make the entire buying cycle more efficient and productive? Creating a central place where the marketing team can feed the sales team everything it needs to succeed. For many companies, customer relationship management (CRM) systems have emerged as that hub of revenue reporting but even though a company invested in a CRM system, it doesn t mean it is being fully leveraged. Many leading companies are building new tools and tactics within these systems to help ensure the right resources and messaging are provided to buyers at key stages in the decision-making process. To that end, there are three critical areas both marketing and sales should focus on that will not only help businesses leverage and optimize their CRM systems, but make sure salespeople don t get tripped up on the way to a close. While marketing remains on the front end of the lead cycle and the sales process, its contribution to the bottom line is more visible and its responsibility more expansive than it used to be. Spotting Opportunities With Your CRM 1
Must-Fix 1 Feed The Right Resources For Lead Conversion To succeed, the sales team must have the information it needs to properly align with a prospect as soon as possible. That means providing salespeople with relevant, prescriptive and situational resources, as well as coaching tools that actually move toward lead conversion not just lead generation. Traditionally, lead conversion happened on the sales side, while marketing generated the lead. But today, marketers are tasked with better qualifying and converting leads earlier in the sales cycle. Therefore, they must know what salespeople will need to reference on a phone call, including relevant documents and a call script, and also provide background materials and coaching. It s important to note that studies have proven there is a small window of opportunity for sales to make a connection with a prospect and move it to the next stage. And then, it s not just about a phone call it s about aligning with the prospect and having a quality conversation. Marketing can have a major impact in the sales process by feeding sales reps the right information at the right time in the right context. Studies have proven there is a small window of opportunity for sales to make a connection with a prospect and move it to the next stage. Spotting Opportunities With Your CRM 2
Must-Fix 2 Identify Where Deals Hit Speed Bumps There is no one way to sell something. Deals can hit speed bumps at every stage of the buying cycle competition rises, products are adjusted, buying requirements shift and the context of a purchase can change. Everything is fluid, from where the prospect operates and what their industry is to the situations they are trying to resolve. In addition, more buyers are self-navigating through the early stages of the buying cycle. More than one third of respondents to Demand Gen Report s B2B Buyer Behavior Survey (35%) reported at least four contacts (via sales calls, email or other methods) with the winning vendor, and 31% said they had eight or more contacts. What this means is that sales teams must adapt their conversations to any situation with the appropriate messaging that moves a deal along quickly. The more a company can identify the stages where deals tend to hit speed bumps, the more it can proactively build processes and resources to make sure things progress smoothly. For example, perhaps the legal process surrounding a non-disclosure agreement (NDA) signing causes deals to lag and makes sales forecasts questionable. Can the signing of the NDA be introduced earlier into the sales cycle to take into account turnaround time? Or, perhaps searching for information creates a significant speed bump. Companies can help keep their salespeople moving by building specific resources into automated tools within the CRM program, so they have access to the people and information they need when they need it. The more a company can identify the stages where deals tend to hit speed bumps, the more it can proactively build processes and resources to make sure things progress smoothly. Spotting Opportunities With Your CRM 3
Must-Fix 3 Develop Repeatable Processes To Accelerate Opportunities Once the sales team has secured a lead and keeps moving it toward revenue, there are always transitions. Suddenly, the rep needs to provide proof points and demonstrations, different experts are required to answer questions, or new resources, such as analyst reports and competitive intelligence, are suddenly must-haves. All of these resources go beyond the standard sales playbook and operating procedures found in most companies. So under these circumstances, it s not surprising when salespeople don t know what to do, who to call or what to show because a situation doesn t fit into the standard procedures. They slow down because they don t know how to react, or they take it upon themselves to move in an undefined, unpredictable way that yields poor results. That s why structured, repeatable processes targeted to a specific prospect, based on best practices and accessible right from a company s CRM screen can help accelerate important opportunities. When a company can pinpoint with greater accuracy and relevancy the resources its sales team will need in a variety of changeable circumstances, it creates more velocity for salespeople to close deals faster. When a company can pinpoint with greater accuracy and relevancy the resources its sales team will need in a variety of changeable circumstances, it creates more velocity for salespeople to close deals faster. Spotting Opportunities With Your CRM 4
Bringing Marketing & Sales Together Buyers Charting Their Own Educational Journey With both marketing and sales responsible for revenue, it is more important than ever to ensure the two groups are aligned. The best way to do that is to build decisionmaking resources into the central hub you already have: your CRM system. You can optimize and leverage your CRM investment by providing salespeople with the processes that control deals and the tools that allow them to access everything they need to succeed in every sales situation. By using your CRM system to identify the speed bumps and replacing them with automated sales processes and relevant resources both marketing and sales will benefit. Marketers will feel more confident handing over expensive leads to the sales reps, and sales reps will feel more confident knowing that they are getting the support and access they need, when they need it, in the situation they need it most. The result? A revenue-boosting win-win that takes your CRM investment to the next level. Remember, your CRM solution is not your sales process. In order to boost revenue, you need the right foundation, the right tools and the right technology. With these elements in place, you take the speed bumps out of the sales process and enable your sales reps to reach their greatest potential. With both marketing and sales responsible for revenue, it is more important than ever to ensure the two groups are aligned. Spotting Opportunities With Your CRM 5
About SAVO SAVO is the market leader in sales enablement. Our SaaS solution uses the power of content management, team selling, RFP/proposal automation, mobility and insight to harness companywide knowledge to deliver professional selling. Smarter Selling methods align sales, marketing and operations to prescribe materials, coaching, tools and experts at the right time in the buying process. SAVO is helping customers close the performance gaps in their business. Driving higher profits, volume and market share goals. Corporate Headquarters 155 N. Wacker Drive Suite 1000 Chicago, IL 60606 312.506.1700 877.542.7266 Spotting Opportunities With Your CRM 6