CustomerTRAX - November Edition

CustomerTRAX - November Edition

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November 2017

www.CustomerTrax.com

How to Ensure CRM Meets Your Needs ADOPTION GAP

W hen an

already happened and typically only discuss what was not done. Their teams don’t buy in because they see it as a punitive, reactive measure based on untested assumptions. Developers, on the other hand, use software to improve practices and systems going forward, by using them as a tool to learn and confirmwhat’s happening This forward thinking comes from a clearly defined purpose. It puts everyone on the same page and lets them know why behind what they are doing. Knowing some results you want to achieve through CRM is a good starting point, but it’s more important to understand your purpose. If you don’t want to suffer from the adoption gap, you need to bring more to the table than an abstract goal. You need to understand how the software will help you investigate the inner workings of your company. Use it to prove theories and gain perspective on questions you cannot answer today. Most importantly, do not make assumptions. If you“think”you know, you likely do not actually know what is happening. The majority of system implementation failures are due to relying on assumptions. If you do not discover new things you were not aware of while implementing a system you are likely missing on the biggest benefit. – Gordon Hilleque

Over the course of the coming months, beginning with this issue, we’ll be diving into each of these goals in more detail inside the newsletter. We’ll discuss how Handle can help address these issues with specific functionality, and how to make sure you’re getting the most out of CRM toward your desired ends. In this space, though, I want to talk something we call the“adoption gap.”The seven items listed above are all desired results, but they are not the same thing as a plan of action. While all of these results are achievable, none of them can be accomplished without one critical thing: a clearly defined purpose. Think of your purpose as the“why”for targeting specific results. Youmay want to“Minimize Risk,”but answering why truly explains what it will do. Inmany cases this may seem like an obvious answer. However, we find the more obvious it seems to you, the more likely it isn’t clear to your teammembers. Everyone has different roles and perspectives in a company. Don’t assume everyone else knows what you do. The adoption gap also arises when companies focus too much on the past. CRM should be about finding holes in your process, targeting these areas for improvement, and creating a stronger future for your organization. You often hear us talk about the difference between companies that are“trackers”and those that are“developers.”Trackers adopt CRMwith an eye toward measuring what

organization adopts CRM,

they usually do so with an outcome in mind. How they’re going to use the software to get that outcome, though, is usually a lot murkier. Over the years, we’ve talked to company after company, and some of the same desired results pop up regularly. As we’ve mentioned before, you need to approach CRM adoption with a clearly defined purpose if you want to be successful. With that in mind, we wanted to address the seven most common outcomes we hear about from companies. 1. Easy Access —Having relevant information available at your fingertips. 2. Market Coverage — Ensuring that you’re reaching all possible customers in your market. 3. Repeatable Processes —Consistent processes across the organization. 4. Customer Loyalty —Building long-term relationships with dedicated follow-up and support. 5. Minimized Risk —Making strategic educated decisions to maximize profits. 6. Shortened Salescycle —Minimizing time between first contact and a sale. 7. Continuous Growth —Growing your business at a sustainable, steady rate.

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THE IMPORTANCE OF of Following Up on Leads

If you’re a business owner seeking to climb your way to the next level of success, there are three questions youmust ask yourself. The answers will determine whether your company grows dramatically over the next few years— resulting in a pool of hundred-dollar bills —or whether you’ll still be sitting in a dinky office, wondering why the phone isn’t ringing. Consider these questions as if they were a bridge troll standing between you and the glories of success. First, howmany prospects did your business generate last month? Second, howmany of these prospects made a purchase, converting them from a prospect to a customer? Third, howmany times did you contact the prospects that didn’t buy?

That means that 85 percent of the future value of all your leads is at least 90 days out. When it comes to nurturing leads, you need to follow up relentlessly. That doesn’t mean badgering your prospects to the point of insanity, but it does mean following up regularly. Your first call shouldn’t be the be-all and end-all contact. Just because a lead isn’t ready to buy now doesn’t mean they won’t be later. Instead, it should be an assessment call, for segmenting them into different branches and timelines for future selling. There may be no exact way to predict when a customer will make the decision to purchase, but the more motivated they are to buy, the more frequent and personal the communication will become.

the concept of single entry, the concept of a single screen for information entry, ideally using a single screen to input information. With this approach, you cut down on the team’s back-and-forth communication. You also allow for a central place to not only bring >Page 1 Page 2 Page 3 Page 4

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