CRM 1080

Time for electronic Document Management? -- CRM 1080

We have all been through it many many times…  

You know you kept that Agreement right there on the credenza in your office… among the other piles and piles of paper (conservatively estimated to be equivalent to 10 trees!  So much for saving the world.) 

The funny thing is that, as messy as everything looks to the untrained naked eye, you typically know exactly where every single document is kept…  the only problem is that you and only you know how to find the documents.   I guess the other way of looking at it is job security!  

But in this one particular case, you are not able to locate the Agreement.  The net result of not finding it in the next one minute would be devastating.   But not to worry…. there is hope.   Your assistant has rightly attached the document to your contact record in your CRM Software.   So, all you do is bring up the contact, and click on the attachment folder and magically, it is right there.   What could have potentially caused you your job…. or at minimum cost the company hours of wasted time and that promotion you were looking for turned around from a bad situation to a good one. 

Everyone is happy!   The reality is that on average a professional worker spends between 1 to 2 hours a day just dealing with paperwork.   So, imagine the amount of time savings if all documents were well organized and easily accessible.   Well, let’s just say that your organization would save approximately $10,000 to $20,000 per year per employee!  

So, what if: 

- We cut back on trees
- Increase Productivity
- Reduce Costs
- Reduce Clutter
- Find the top of the Credenza again so that a nice flower pot that grandma gave you can be prominently displayed
- Absolute improve your mental health as well as the financial health of your organization 

…. all of the above just by implementing a CRM software that allows for document management. 

Now… go take on your next challenge! 

Regards,
The CEO

CRM Solutions today offer many features and functionalities.  But core CRM feature are still the main reason for selecting a CRM system that can help you retain your customers while acquiring new ones.

So…. take the poll below and learn how the general public is using the system compared to how you use it.

Best Practices are necessary for a Successful CRM Initiative

Hello & Welcome to the Second Part of our two part series,   

For those who missed Part I, here is the Link:
Ensure CRM Success Part I   

This post is going to focus on the remaining best practices related to CRM Success that upper management may want to consider:   

1. Employee Buy In.  Design and implement employee buy-in programs that help your team understand the value of CRM.  Most employees do not care of change of any sort let alone when the change is about to track their every move.   But when employees realize that CRM systems are here to help them be more productive, increase customers, retain the best and improve overall efficiencies, they soon realize that this will only further help the company grow — which is in their best interest.
      
2. When did someone look at all your processes?  Before implementing your CRM solution, it is important to review and update all your business processes.    One of the strengths of CRM is automation.   So, it is important to understand the exact capability of CRM automation and how you can fully leverage these features to improve operations. 
    
3. Create a Flexible System.    Implement a system that is highly open, robust and scalable as the amount of information you gather and manage will grow with the organization and increase over time. Make sure your corporate IT is responsible for any integration strategy, maintenance and adherence to technology standards.  If you don’t have an internal IT staff, it is important to get sound advice from a reputable IT consultant.    
    
4. The 80-20 Rule.    We all know this golden rule but yet not much emphasis is given to it.  Does that sound like your organization?   Perhaps it is time to focus on the top 20% of your customers that bring in 80% of the revenue.  The first thing you need to do is to identify them.  Next, to automate the identification process and implement strategies that will continue to keep them satisfied.  CRM strategy and tools will help you retain the best of your customers while you attract new ones.
    
5. Metrics metrics metrics.  You will never know how well your new CRM initiative is working out if you don’t have a base to compare it with.   So, identify tangible and measurable links to business performance before implementing your CRM project.  Next track these measurable on an on-going basis to see exactly where the improvements are.   You will be surprised at the amazing ROI!     

Like any set of best practice, the above points are not the complete set of instructions for a CRM initiative but rather some of the key points.   Depending on your business, there may be other valid points of higher importance.   The best you can do is to make sure you hire or designate a person with project management experience to be your lead CRM Project Manager that has the time and resource focus on the project at hand.   Remember, your CRM initiative if not implemented correctly may be devastating to your operations.  So, you want to get it right the first time!   

Regards,
The CEO

Now that you know the importance of Integrating your CRM application to your back office application (see previous post), the following poll will provide insights to the most popular financial applications currently being used.

Regards,
The CEO

Hello There…. 

It is mid-month, your accounting department sends out past due notices and you realize that some of the notices come back because the address is bad.  A quick check reveals that the address information has been correctly updated in your CRM system but your financial application is still showing old address or typos.   This is just one small reason why CRM Integration to your back-office financial/ERP application can make a HUGE difference if they “talked.”     

Integration

Welcome to the world of CRM Integration.   I have often advocated that it is a must for a 360 degree view of the customer because it completes the picture of the customer when information is not located in your CRM application. 

What are some of the most common reasons for having CRM integration to back-office financial applications?  
Here is just a sample of what can be integrated: 

• Seamless and updated Customer, Vendor  Contact Information
• Ability to View Back Office Information in your CRM such as:
  • Purchase Orders
  • Invoice History
  • Credit Status
  • Account Balance
• Automatically Convert Quotes from your CRM into Orders in your Financial System
• Keep updated Inventory Information between your CRM and Financial System

In addition to viewing the above information, automated data updates to and from financial applications greatly reduce unnecessary duplicate data entry and facilitate data consistency throughout your business. The tight integration and real-time access to information has many benefits, from reducing user account management and end-user training on multiple applications to increasing data integrity and improving efficiency, plus decreased usage licensing costs for integrated applications like QuickBooks, PeachTree, Macola, MAS, Great Plains and so on. 

Just how does integration benefit your organization?
Well…  here is just a sample of the benefits: 

• Get a true 360-degree view of your customer on one screen
• Quickly identify cross-sell and up-sell opportunities
• Easily access account balance information
• Identify additional purchasing power — or lack thereof
• Identify availability of products for sales
• Quickly assist customers with order status
• Generate more accurate quotes and proposals
• Avoid redundant data entry
• Maintain data integrity through automatic updates between systems
• Reduce the need to login and learn financial application interface by accessing information directly from your CRM Solution.

Buyer Beware?
Hopefully, I have been able to whet your appetite with relations to CRM integration to Financial applications.   There are many solutions out there, just make sure that it is the right kind of integration.  So, often the word “seamless” is well intended but because of the various variables, it may not be.   What works for one company may not work for yours.  At the end of the day, integration must improve efficiencies to your organization.  

Most vendors provide a good solution that works…  
Click Here for Integration to QuickBooks.
Click Here for Integration to Financial applications. 

May CRM Integration complete the 360 degree view of your Customer! 

Regards,
The CEO 

Hello There CEO, 

CEO to CEO -- CRM 1080

As we all know, a new initiative is not only financially costly but also sucks tremendous energy out of our team — especially if success is a must.   So, if we can minimize any failure points… or better still completely avoid them, we would be in great shape.  

There is a reason why “best practices” are so commonly used in organizations… they work because they have been tested by organizations and teams over and over again.   So… here are some best practices that upper management may want to consider: 

1. Own the Project.  Don’t just direct the initiative…  your 100% buy-in and leadership is completely critical.  One CEO made it very clear to her employees, If it is not in the CRM system, it does not exist and your performance review will be based on it.
      
2. Governance not Command-Control.  Get input from all major areas of your organization to help recognize the dynamics and interdepartmental nature of your organization that makes it tick.
    
3. Customer Focused Culture.   Leadership is action, not position… I read somewhere…  So, if you do not embrace a customer focused culture… your team and your employees will most certainly not.  Put your customers in the center of your organization — where it is clear to your employees that they exist because of your customers.
    
4. Ensure Seamless Integration.  How many times have we heard the word “seamless” and there is absolutely nothing seamless about it? Let’s just say more than our share.   However, if your CRM implementation does not have a seamless integration to other front and back office applications, that quick 360-degree view will not be available to your employees when providing any service — and you may miss the ultimate goal of providing any system to your employees… efficiency!
    
5. The Expert Advice.  Nothing like going to a Guru when you need to be enlighten.  Get the expert advice from SMEs who have mastered the art of successful CRM implementation.  You may just learn a thing or two that could propel your implementation by a notch or two.

I will let you ponder on the above 5 points before we take a look at the next five best practices that make up our list later this week.  In the meantime, have a great week — because without us, the economic engine of the world would come to a grinding halt! 

Regards,
The CEO

A friend of mine said “I no longer buy from companies that don’t use a CRM solution.“  Curious, I asked why?  The answer surprised me.  ”Well, I want to be sure I will get the best service — and if they don’t have a CRM solution, how are they going to do that!”, he replied.   Over the last couple of years, my friend realized that the companies that  provided the best services more often than not, utilized a CRM solution.  

"I no longer buy from companies that don't use a CRM solution."

From buying a car to a hands free Bluetooth headset, companies that utilize CRM provide its users with preferences on how they would like to be contacted, marketing materials that actually are of interest to you, complementary products that you may have never known about and the list goes on and on.  This and the many other customer facing functionalities of CRM allow an organization to work more efficiently and ultimately results in higher levels of service.  

Companies that utilize CRM also allow its customers to communicate by using Self-Service Options — you know, like online banking or looking up the programming codes for your TV remote.  The ultimate goal is to provide the customer with as many options as possible to solve and/or learn more about the organizations, its products and services.   And if you can do it 24/7 with a self-service, option and consumers are more likely to use these services.  

Of-course I live CRM day in and day out.  So, my friend’s comments did not surprise me at all.   It just reminded me how integral CRM has become for business success.  And apparently not only businesses but consumers are catching on how they are going to be treated based on the tools a company utilizes to serve its customers.  

So, the next time you are about to make a purchase, ask the organization if they use CRM.  If you see a blank face (or there is a pause on the phone for more than 3 seconds), it is time to bail and get out of there as fast as possible.  

It’s only time that CRM strategy and solutions will be a way of life in every business.  I don’t think that is too far away because consumers are going to demand it.  

Now, Get back to your CRM,
The CEO

If you have been using CRM for sales, this is your chance to compare your return on investment to the averages.  Simply answer the poll below and see where you stand.

Hello there Marketing Enthusiast,      

By now, you must have heard about email marketing… and if you have not, there is a good chance that you have received mail from an email marketing campaign. eMail marketing is one of the fastest growing marketing strategies right now.     

Email Marketing — CRM 1080

  E-mail’s ROI in 2008 was $45.06 for every dollar spent on it, according to the Direct Marketing Association’s Power of Direct economic impact study. This compares to $48.34 in 2007, and a projected $43.52 for every dollar spent in 2009.   

 So, its about time that your business realized its full revenue potential using email marketing campaigns.  Still not sure why it may be right for you?    Here you go…. my Top 10 Reasons why Email Marketing may be the right for your Business:   

1.  Cost Less than Traditional Marketing.   Let’s face it, mailers and other forms of advertising can put a real dent in your pocket.  With email marketing, you reach thousands of prospects at minimal costs.   

2.  One Marketing Campaign Does NOT fit all. Consumers tend to respond to communication that they can relate to.  With email marketing, you can do just that — Target and Personalize your communication with your audience.   

3.  Schedule your Delivery. Unlike traditional advertising, with email marketing you can make sure that prospects get the message when you want them to get it.   

4.  Ability to Get Consumers to Act. One of the unique power of email marketing campaign is that you can provide a link or a button that allows your consumer to act immediately.  We all know how we have bought things on an impulse.  The right solution with the right incentive and easy means to purchase always works for the business.   

5.  Know the Truth Immediately. Because email marketing is as Real Time as it gets, you will be able to see results within hours and sometime even minutes of sending email.  The truth sometime hurts, but there is even some good news even if your campaign is failing — you can quickly change it (message, time-sensitive discounts, target, etc.)   

6.  Provide Opt-In/Opt-Out Options. Today’s consumers want to control when and how they want to communicate with you.  By providing personalized opt-in and opt-out options, consumers are more likely to engage in receiving marketing content because they are in control of what they want to receive and when they want to receive.  And with Online solutions, the entire management of who gets what is managed by your audience — so you don’t have to worry about it.   

7.  Easily create Drip Marketing.   If you have been in business long enough, you know that it takes at least 6 touches before consumers are comfortable with a particular product line.   

8.  Know which Marketing Campaign works! By that I mean, brings the best ROI.  So, that you can continually improve your delivery for the campaigns that don’t work as well.   

9.  It’s more than just a Sales & Marketing Tool. eMail marketing is fast becoming the method of choice for both business and consumers to communicate… whether it is Upcoming Events, Tips & Tricks, Business Update, Guides and more!   

10.  It’s Integrated with your Customer Database.  An Online CRM Solution (there are plenty of them out there) that supports email marketing with easy to use templates will manage not just your email marketing activities but also all your other communications including sales and customer service tracking.   So, one great solution that integrates all key components for success.   

Now, it’s time for you to act — start using an email marketing solution that is part of a broader CRM solution to help you achieve all your marketing needs.  In just a few steps and a few days, you can reap the many benefits thousands of companies are already experiencing…  Btw, here is a video on YouTube that may provide further clarity on the subject:      

Email Marketing Overview.       

On your side,
Zeynep