Are you maximizing the potential of your CRM? Or do you feel like you’re not getting the return on investment you expected? Well, you only get as much as you put into it, so you must communicate with your CRM. Remember, you can’t expect your CRM to fix your bad habits. Your CRM will ask you the right questions and give you prompts to nail down your sales process, but first you must teach it what data you’d like it to track, what actions you want automated and the frequency of each.


Map Out Your Sales Initiative

A sound plan starts with integrating your CRM initiatives with your business goals and objectives. Before you get started, you must define what it is you’e trying to achieve with your CRM. What is the goal? Increasing customer retention, productivity, revenue, average sale size, etc.? Defining your goals and outlining appropriate strategies and tactics to support your goals will help you define what measures and metrics to put into place to track progress.

A goal is a dream with a deadline. —Napoleon Hill


Establish Appropriate Metrics

Having a screenshot of your organization will show where you currently stand, but also push you to where you want to be. Through the use of metrics, the collected data and information will allow you to track the success of your efforts and empower you to make informed decisions pointing you in the right direction to make improvements or changes.

Sales/Prospecting Metrics

# Prospects
# Leads
# New Clients
# Open Opportunities
Close Ratio
# Sales Calls

Marketing Metrics

# Campaigns
Open Rate
# Referrals
# Responses/Shares
# Purchases
Conversion Rate/Click Thru

Customer Service Metrics

Hold Time
# Calls Handled
Call Time/Duration
Service Renewal Rate
Resolution Time
# Complaints
Satisfaction Level[/one_third_last]


Quantify Sales Performance Goals

Now that you know what you’re tracking, you should set a baseline for performance goals. This will help your team understand what success looks like and will lower the need to micromanage or babysit your team members. Not only are these performance metrics a good way to motivate your team to reach their goals, but they will also help you identify any problem areas. The numbers don’t lie and they will provide good insights into who may need more mentoring or training and also diagnose recurring issues that may need to be addressed and adopted into your training process. For example, if Henry is great at setting appointments and has a lot of sales activity, but is having a hard time closing prospects, then pair him up with Susan who has a 90% close ratio and have Henry sit in some sales calls or appointments to get training.


The Shift from the R(elationship) to the (e)X(perience)

Both managing the “relation” with the customer and managing the “experience” of the customer is vital to your business success, but you can’t have one without the other. The data-driven CRM supports the CXM strategy into a customer-centric culture increasing customer satisfaction, loyalty and acquisition rates. Am I getting ahead of myself? Ok, ok. So what is CXM and what does it mean for your business? Let’s take a step back for a second. CRM initiatives are generally used to collect data to improve internal efficiencies in an organization’s’ operations, marketing, sales or client service efforts. However, CXM initiatives are outward-looking towards the client and focused on how to improve interactions with your customer. Essentially, you have all this information you’ve collected about your customers ranging from their birth date all the way to their inseam measurements, but now what do you do with it and what’s next?

“The data-driven CRM supports the CXM strategy to increase customer satisfaction, loyalty and acquisition rates.” Tweet This!


CXM Initiatives & Strategies

Engage and keep customers with a dedicated CXM approach. Gone are the times where you could market to the masses. Your efforts and campaigns need to be targeted and personalized through every stage in the sales cycle—you’re marketing to individuals, not demographics. And in order to stay relevant, you need to provide value. But how?

Well, first you should define what your key “value propositions” are. A good place to start, is to launch surveys or polls to your existing clients. Focus on your A clients because those are the people you’ll want to continue to target and attract. Gaining insight into their personality, behavior, buyer habits and learning about how they view your business is a great starting point. Trust me, you may be surprised by the feedback.

Next, use this client-centric information to help you to deliver a good experience. If your clients prefer communication via text messages, then start an SMS campaign that sends them updates, special promotions for their birthday or reminders confirming their upcoming appointment. Or if your clients are active on social media, launch interactive campaigns such as Google Hangouts to increase engagement with your brand on a human level. And if you’re an eCommerce site, analyze the shopping cart abandonment rate, launch a poll to get your subscriber’s feedback on their experience and conduct A/B testing. Perhaps, it was the user interface or something in the checkout process that was prompting them to abandon. You’ll never know until you ask.

Get some insights:

  • Client Satisfaction Questionnaire
  • Surveys on a new product launch
  • Quizzes – Personality, Preferences, Style
  • Secret Shopper Feedback
  • Polls or Focus Groups

If there is one thing you takeaway from this, the key to increasing engagement is to be responsive and adapt to the way your audience best interacts with you and your product or services. Remember to track and input any new information, feedback or insight received into your CRM, which will continue to help your sales force and customer service reps to manage the relationship. It’s a cycle. CRM and CXM initiatives are co-dependent and each are crucial to achieving your business and sales goals. So please don’t give up on your CRM too soon! It is a powerful resource and tool.

[icon color=”Accent-Color” size=”small” image=”icon-arrow-right”] If you’d like to learn more about how to maximize the ROI on your CRM, please reach out and start the conversation. Be sure to tune back in for our last CRM series blog post discussing analytics. See ya soon!