Marketing and Sales Technology
If one wants to know the need for marketing and sales technology, look no further than the customer experience and your customer investments. The customer needs to know you care through your personalized approach, unique value, and that you understand their issues. You cannot afford to scale the delivery of those items without marketing and sales technology.
From the moment a customer shows awareness or responds to a web page, you will want to know the source, their behavior, and their outcomes. The reason is you begin to attribute investments to ready-to-buy leads and leads that converted into sales. You can see where the most profitable leads come from. This allows you to alter future investments and set financial expectations. This kind of sharpening the saw thinking needs to pervade every part of your organization. An excuse-filled approach around marketing and sales' measurements need to end quickly for your company.
Your Growth Challenges Require CRM (Customer Relationship Management)
1. Who Do You Know? With all of the connections in your company, how strong is your ability to find someone? How can you leverage existing relationships?
2. Data Driven Metrics. You want to know what is in your pipeline, probability, and how that points to future revenue. Sure ERP (Enterprise Resource Planning) tells you what happened in the past (lagging indicators), but CRM can inform you about your future (leading indicators).
3. Collaboration/Productivity. A sophisticated system allows you to run a sales opportunity like a project. You want to know the steps needed by creating a CRM view where you know what needs to happen either from you or someone on the team for the opportunity to progress. In addition, you can see the activity and have a proactive account plan.
4. Mobile Device Access. Your customer-facing employees want 24x7 real time access to opportunities, major accounts, and market insight.
Keeping up with the changing expectations of sophisticated 21st century customers can be daunting. CRM helps store the good data allowing you to sell as a team. Most customers that have over $50m of revenues are buying as a team requiring a team selling approach from you.
Years ago, early CRM solutions received some bad press due to adoption failures of fledgling technology. But that was yesterday. Today, CRM solutions are a stronger bet to improve revenue efficiency if the organization has a mature mindset about the CRM journey for their organization. Growth Visions founders have been involved in major CRM success stories where visibility on pipeline opportunities grew by over 700%.
With access to the right people and process, Growth Visions can have most new enterprise CRM solutions up and running within 90 days. If the new CRM is replacing an old one, we can the new CRM launched in 180 days with data migration.
CRM is a change management, multi-year journey that requires executive sponsorship, training and communications. The technology expectations will be met early, but the commitment to change management is required to achieve CRM excellence.
The sales data coming out of CRM can be illuminating if the data is being cleansed. Sales managers can segment by a number variables to see where sales are coming from - to the strength of a pipeline - to win rates. This is informative when you are considering anything from sales investments to revenue probabilities.
CRM has many benefits. Perhaps none more important than helping an account manager grow an existing account. Companies tend to put emphasis on generating new customers, but it’s often the established customers that offer us a more profitable relationship.