New Age Summit 2006 Presentation

Using Customer Relationship Management Using Customer Relationship Management (CRM) to Find, Catch and Keep Great (CRM) to Find, Catch and Keep Great

CustomersCustomers

2006 Call Center, Marketing and Contact 2006 Call Center, Marketing and Contact Management Training SummitManagement Training Summit

Presented by: Presented by:

Brent Leary, CRM EssentialsBrent Leary, CRM Essentials

CRM Basics

Defining CRM Marketing Automation Salesforce Automation Conclusion

A Customer…A Customer…

A Customer is the most important visitor on our premises. He is not dependent on us. We are dependent on him. He is not an interruption in our work. He is the purpose of it. He is not an outsider in our business. He is a part of it. We are not doing him a favor by serving him. He is doing us a

favor by giving us an opportunity to do so.

The customer has all the answers……

... and all the money…

Sam Walton

C. Sam WaltonB. GandhiA. JC Penney D. Fred Sanford

Do these questions hit home?

Having trouble finding customer information quickly?

Any issues sharing customerInformation across the company?

Are you having problems responding to customer requests?

Are your customers happy with you?

Are you winning deals against your competition?

Are your sales folks always in the office?

Are you finding enough good leads?

Are you closing enough deals?

Are you closing deals fast enough?

Burning too much time on dead-end leads?

Is the pipeline full?

A lot of turnover in your sales team?

Adding sales people?

How’d that email campaign work for you?

Lost any good customers lately?

What Is CRM?What Is CRM?

Defining CRM

Defining CRM – Building Blocks

Customer Customer ProfilingProfiling

Campaign Campaign ManagementManagement

Lead ManagementLead Management Opportunity ManagementOpportunity Management

Contact Contact ManagementManagement

Activity Activity ManagementManagement

Web Self Web Self ServiceService

Field ServiceField Service

Call CenterCall Center

Customer Acquisition ProcessCustomer Acquisition Process

Campaigns LeadsGenerates Convertsinto

Opportunities

Contacts

Account

ForecastFeedsInto

Analyzed to determine success

CRM Basics


Marketing Automation: Find

Campaign Management – Build customer profiles

– Determine best way to reach target: Email, Trade show…

– Determine who should handle responses

– Determine how to measure success

• Open rates

• Response

• Cost per lead

Sales & Marketing Challenges

The Problem* Avg. Business has 7% awarenessAvg. Business has 7% awareness 90%+ of market not ready to buy90%+ of market not ready to buy Awareness = 6-7 touches per yr 80% of new sales take 8-15 contacts to gain interest Avg. salesperson abandons after 1-2 calls 50% of all leads buy – in 6-18 months Result

– Huge numbers of missed opportunitiesHuge numbers of missed opportunities

* Source: Cargill Consulting Group, Inc., Griffin Consulting Group, Sales & Marketing Mgmt Magazine, Harvard Business Review, Dartnell Institute

Lead Generation: Road to the Final FourLead Generation: Road to the Final Four

Pareto’s Principle – Hindsight is 80/20:

100 Sales Leads100 Sales Leads 20 Qualified Leads

4 Converted Leads4 Converted Leads

How much time and money are spent with How much time and money are spent with the 96 before reaching the Final Four?the 96 before reaching the Final Four?

Marketing Automation Example: Leads ManagementMarketing Automation Example: Leads Management

Leads Management should

– Help identify dead ends quickly

– Set guidelines for qualifying leads

– Identify “next steps” to take

– Identify reasons for not converting leads

Initial lead information is basic information usually found on a business card

CRM SOFTWARE helps answer the question…

Are we willing to spend the time Are we willing to spend the time and money needed to win the sale?and money needed to win the sale?

The Hunter: Old School Lead GenerationThe Hunter: Old School Lead Generation

You spend thousands every year to develop relationships• Sales calls and meetings• Trade shows and seminars• Conferences, social events, etc.

New business development efforts are costly but critical• Advertising and marketing• Lead generation• Networking, partnering, etc.

Business cards often represent the most qualified contacts• They result from face to face interaction• Include complete contact information• Your contact’s heard your story. He knows about you!

The trend is being driven by your customersThe trend is being driven by your customers … the … the Internet is THE place they go to find products & Internet is THE place they go to find products & services and more importantly YOU!services and more importantly YOU!

The Internet continues to grow in popularity among consumers searching for information about products & services … as preference for yellow pages and newspapers declines

More and more, the Internet is where YOUR customers areMore and more, the Internet is where YOUR customers are

Small Business Continues to Move Small Business Continues to Move OnlineOnline

Small business is evolving from just being online to doing business onlinedoing business online

Increasingly, customers expectexpect small businesses to respond quickly!quickly!

Social Computing – Web 2.0 – Business WebSocial Computing – Web 2.0 – Business Web

► Social computing is a social structure in which technology puts power in communities, not institutions.

Search: From Hunted to Hunter – What’s Your GQ?GQ?

5.3 billion internet searches were performed in February 2006 Average web user performed 43.1 searches Businesses of all sizes are expected to spend $5 billion dollars

advertising on search engines

When your site is shown in both organic and paid results for a search, searchers click one of your listings more than 90 percent of the time

43% of search engine users are seeking local merchants to buy something offline

AAaaa

SEO + SEM + SMO = CRM!SEO + SEM + SMO = CRM!

del.icio.usdel.icio.us

Blogging + Podcasts + RSS = REACH!Blogging + Podcasts + RSS = REACH!

BloggingBlogging PodcastingPodcastingRSRSSS

Blogs give companies a human face

Only the Beginning….Only the Beginning….

53%53% surveyed have downloaded or listened todownloaded or listened to a podcast at least once, with 41% claiming to have listened to podcasts on more than one occasion

65%65% said they listen to podcasts for BOTH personal AND business interest

60%60% of respondents said info on business or technology topics currently delivered as traditional white paperstraditional white papers or analyst reports would be more interestingwould be more interesting as podcasts as podcasts. And 55%55% of them would be more likely to consumemore likely to consume white papers if they were delivered in this manner

27%27% said podcasts already influence work-related already influence work-related purchase decisionspurchase decisions

Knowledgestorm survey of 3,900 B2B purchasers

CRM Basics


Salesforce Automation: Catch

Managing Opportunities in the Sales Cycle

– Identify sales stages and milestones

– Define what each sales stage means

– Identify what tasks are performed (and by whom)

– Identify how sales opportunities should be valued

What are your sales challenges? • Not responding quickly enough

• User Adoption is low due to input process

• Not getting information in timely fashion

• Not sharing information effectively

• Too much time spent in the office Too much time spent in the office doing paperwork and not with doing paperwork and not with customers and prospects!customers and prospects!

Common Challenges – CRM & Common Challenges – CRM & ContactsContacts

Example of a Small Business Sales CycleExample of a Small Business Sales Cycle

MarketingCollateral

10% Likelihood of winning

NeedsAnalysis


Presentation40% Likelihood of winning

Proposal60% Likelihood of winning

ContractSubmitted


ClosedLost

Negotiation90% Likelihood of winning

ClosedWon

Managing Sales Opps: Standardized ReportsManaging Sales Opps: Standardized Reports

Before – Too much time spent:

• Determining stage of sales opportunities

• Value of sales opportunities

• Generating sales reports

After – Sales opportunities are defined and updated in real-time for all users to see

CASH FLOW

Sales Pipeline: Estimating When Sales Opportunities Sales Pipeline: Estimating When Sales Opportunities Turn into CashTurn into Cash

CRM applications provide:– Better handle on expected cash

flows

– Better analysis capabilities• Expected vs. Actual

– Realtime updates• As sales opportunities are updated,

forecasts are updated

– Automatic roll-up• Individual forecasts are rolled-up

and included in management forecasts

Did I get everyone’s forecast spreadsheet? All opportunities updated?

CRM application with realtime sales opportunity updates

CASH FLOW

CRM Basics


In generalIn general

IdentifyIdentify (and document) issues/challenges People make it happen Learn the Metric SystemMetric System ReviewReview your customer facing processes (Strategy

firstfirst, technology secondsecond) RespondRespond to all inquiries appropriately (Silence isn’t

golden)

In general – cont’dIn general – cont’d

FunctionalizeFunctionalize your website (lead gen, lead qual, self service, etc.)

IdentifyIdentify routine tasks associated with processes IdentifyIdentify milestones in your sales process (forecasting) ReviewReview your use of data services Get Help!Get Help!

CRM Timelime….CRM Timelime….

Contact Contact ManagementManagementIndividual usage

PC based

Mobile CRMMobile CRMHandheld

Accessible from anywhere

CRM SuitesCRM SuitesSFA, MA, CSS:

Workgroup Server based

Early 1990s

Mid 1990s

Today

CRM On-demandCRM On-demand Browser based

Early 2000s

Revenue Enhancements Cost Reductions

Sales Force AutomationSales Force Automation Inc. avg. revenue/sale Inc. customer retention rate Inc. close rate/win rateInc. close rate/win rate Inc. # sales opportunities Improved new rep performance

Sales Force AutomationSales Force Automation Reduced training cost Reduced administration costsReduced administration costs Reduced communication costs Reduced rep turnover Reduced order errors

Marketing AutomationMarketing Automation Inc. conversion rateInc. conversion rate Inc. number of campaigns Inc. customer loyalty

Marketing AutomationMarketing Automation Reduced customer acquisition costReduced customer acquisition cost Reduced advertising cost

Customer Service/SupportCustomer Service/Support Inc. customer retention rate Improved new agent performance

Customer Service/SupportCustomer Service/Support Reduced cost of providing service Reduced training costs Reduced average call time

KPI’s: Key Performance Indicators

New tools of the tradeNew tools of the trade

del.icio.usdel.icio.us

Pyramid Of Customer Loyalty

Thank You!

Brent Leary [email protected] Corporate Website

– WWW.CRM-ESSENTIALS.COM Blog

– WWW.BRENTLEARY.COM

Sundays @11AM on 1160AM WCFO AtlantaSundays @11AM on 1160AM WCFO AtlantaOR

www.BusinessRadio1160.comwww.BusinessRadio1160.com

For More Show Info: www.BusinessTechnologyRadio.comFor More Show Info: www.BusinessTechnologyRadio.com

New Age Summit 2006 Presentation

Business

Transcript of New Age Summit 2006 Presentation