Categories
Sales CRM Delivery Fulfillment Management Marketing Production Selling

The CRM Sales Funnel is not just for the Sales Team

Recently I was called in to meet with the business owner of a manufacturing company interested in using a new CRM system.  He had been using a CRM software system but felt it didn’t give him enough information on what each sales person was doing daily and weekly. 

I asked what is your sales process/funnel?  I was not surprised when he told me it’s up to them to close the deals and we don’t feel a sales funnel matters. 

Working with other B2B companies that do not have a sales funnel I knew there was another common problem I found very often.  I asked if production had problems after a sales person closes a deal because they don’t have production time scheduled and parts/materials in stock to produce the product for delivery.  Sure enough production wasn’t aware in advance of new potential sales and deliveries were late on special orders. 

These are just couple of the key issues that a Sales Funnel can solve.  If we start with a basic sales funnel of 5 levels to winning or losing a sale then management has the knowledge to help close the sale and forecast ahead what is needed in the next 1-6 months for production.

Typical Sales Stage Funnel:

  1. Qualification – sales has spoken with the lead and determined that it can provide product they need.
  2. Product Demo and/or lead has submitted technical requirements for the product.
  3. Quote/Offer – Working with manufacturing and inside technical team a quote is prepared and sent.
  4. Follow-up and negotiation of quote. Prospect turns down offer go to Close Loss.
  5. Commitment – Prospect commits to take the offer.

Closed Won
Closed Loss

Optional:

  • Fulfillment/Delivery
  • Follow-up of delivery and satisfaction
  • Repeat sale – ask for another order.

Here is where management should to be involved in a Sales Funnel.
 
At stage 3 management is involved in quoting by reviewing requirements for the sale.  At that time they should be looking at their manufacturing schedule and forecasting the time required to fulfill a possible new sale.  They should also take into consideration based on the quote what other assets are needed such as parts, finished goods and delivery scheduling.

Now sales can add to the quote a commitment that if the prospect agrees by a certain date a delivery can be completed on time. 

At stage 4 the sales team should be communicating with management on any questions, problems or possible delays by the prospect in accepting the quote.   Management should be involved to help sales with better pricing or added value to the offer to close the deal.  All along management and production are in communication planning, forecasting and rescheduling for the potential production job if necessary so they are ready.

At stage 5 if the prospect accepts the offer then management is prepared to start production and deliver on time. 

Sales, management and production are now working together as a team.  Everyone is aware of the deals in the sales funnel.  Management and production are always up to date on what sales is projecting and any challenges to closing a deal. 

A Sales Funnel with the right stages in the sales process to track winning more deals will grow your business.  This is a Win…Win for sales, management, production and most important the pocket of the owner!

In upcoming articles, we’ll help you understand more about a CRM, see if it’s right for you, and show you what to look for in one. You’ll also learn what to expect and plan for if you decide to implement a CRM.

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Joseph Norcott
Business Sales and Marketing Automation Strategist

Categories
ACT! CRM CRM Marketing Repeat Sales Sales Selling Upselling Zoho CRM

Why should my Marketing Team use our CRM?

That’s a question I hear many times.  Usually the owner thinks all they need to do is send emails out of Microsoft Outlook.  Marketing’s main purpose is to get the company’s message out to the targeted groups of potential leads.  It can involve monthly newsletter emails, sales promotions, posting to groups and other resources to encourage potential leads to fill in a landing pages.

When marketing is working outside the CRM system they may not respond quickly to new lead inquiries and worse lose new leads.  The sales team has no idea what they are doing to generate new leads and until someone tells them there is a new lead they are losing valuable time to follow up and engage the new lead and close a sale.

Envision if you will an example of how they can work with the sales team in a CRM together.

A business sells red, blue and green widgets.  The business owner asks marketing to put together a new promotion next month of 10% off green widgets for new customer only pricing.  They open up the CRM’s integrated email campaign and marketing module to create an email campaign along with web forms for a new landing page promoting the new customer offer.

A landing page is created and the web form from the CRM is inserted.  They promote the landing page through Google Ad and keywords.  When a lead that fills out the web form they are automatically created in the CRM and a sales person is automatically assigned a task to follow up.  The new lead also gets a follow up email thanking them for their interest and additional information about the green widget product and the new customer offer.

Existing leads in the CRM system are assigned to a weekly email campaign for the month with the 10% off offer for new customers.  If a leads clicks on a link (call to action) then a sales person is immediately assigned a tack to call and they follow up to closed the new customer sale.

Based on the response rate to the landing page and emails sent they can generate a report to review with the owner and the sales team the new lead response rate and the increase percentage of new deals form the promotion.

Since the sales team and marketing are interacting in the CRM they can coordinate the responsiveness to the new leads together.

The sales team is expecting new leads to take advantage of the offer and are immediately responsive to the CRM system notifying them of the new leads.

The results are a higher return obtaining new customers than compared to separate systems that ae now working together.  Marketing and sales will be less frustrated with each other because the new leads didn’t fall thru the cracks of depending on human involvement to notify sales.

If you would like to receive more articles about automating your business just sign up for our newsletter Bigger Slice of Business at: www.btne.com/bsobnewsletter

In upcoming articles, we’ll help you understand more about a CRM, see if it’s right for you, and know what to look for in one. You’ll also learn what to expect and plan for if you decide to implement a CRM.

Categories
Customer Service CRM Marketing Sales Selling Zoho CRM

Why use a CRM for Customer Service?

How many times as a business owner have you been surprised not to hear about a customer that has a complaint or problem with your product or service until its too late?

Is someone handling it in your company?  You hope so!  If not you just lost a new customer or an existing customer.

How about new customers automatically getting a follow up request by email or phone from the Customer Service Representative (CSR)?  Reaching out to assist the customer or check on the customer satisfaction of your product or service can help you increase sales.

Customer service is a valuable tool in growing your business. 

They are the people that can make customers happy with you and buy more.   They are your number one resource for retaining customers.

That’s where a CRM (Customer Relationship Management) tool can make the difference.

After the sale you should have an automated workflow in your CRM that assigns a call or email to the new customer as a follow up to the sale.  Once the CSR connects with the new customer have a script in the system to ask how satisfied they were with delivery, installation or activation of the product.  The customer’s response is recorded in the customer record for management and sales to review.  If there is problem the sales representative can be notified to follow up right away.  Better yet the sales representative is notified to go back and ask for a repeat sale from a happy customer.

As for answering customer questions, include a knowledge base in the CRM to quickly answer common questions from a customer.  Provide a link in the CRM for the CSR to send the customer how to resolve the problem or answer the question with further instructions.  This will save time for the CSR from repeating instructions and the customer has a better experience with your product.

Management can review a report generated in the CRM about the common issues.

If it is product quality related then management can flag it and review how to improve the product.  If it’s a matter of updating the help instructions included with the product then the customer experience will be more positive when they start to use it.

The CSR can get the sales team involved only when needed.  However, they can see in the system the history of activity between the sales person and the customer leading up to closing a sale.  Based on that information they are quickly informed on the sale and expectations of the customer.

The sales team will have more time to do what they do best and sell more instead of handling customer service requests.  However, the sales team is always aware of customer issues because they are recorded in the customer’s record for all to see.

Just think wouldn’t it be great to have a sales person on a return visit to a customer not get their head chewed off because they didn’t know about a problem.  Instead they get a repeat sale because the happy customer is satisfied with the knowledge and fast response from the CSR team!

The other key to using a CRM is they can ask for a testimonial and record it on the contact’s record for marketing to use in promoting happy customers using your product or service!

A CRM used together by the sales and customer service teams can increase more sales and profits in your business.

If you would like to receive more articles about automating your business just sign up for our newsletter Bigger Slice of Business at: www.btne.com/bsobnewsletter

In upcoming articles, we’ll help you understand more about a CRM, see if it’s right for you, and know what to look for in one. You’ll also learn what to expect and plan for if you decide to implement a CRM.

Categories
CRM ACT! CRM Marketing Sales Selling Zoho CRM

Why using a Customer Relationship Management System (CRM) is important!

Desktop email and calendar products like Microsoft Outlook TM were originally created as a standalone product.  Many businesses need a product that is built for sales, marketing and customer support teams. This where a CRM product meets those requirements.

In a corporate environment, single user designed applications lack the ability for a sales team to know what is going on with a lead or client.  Management doesn’t know what the sales people are doing at any time.  They must rely on each sales representative to spend time generating weekly and monthly sales reports instead of spending that time generating sales.

The marketing team doesn’t communicate back and forth effectively with sales.  You also lack the communication between sales and customer service as well.

When management embraces a process that includes a CRM to expand their business they will find growth is quicker, easier to forecast and track.

A CRM system setup properly based on your marketing, sales and customer service processes can help generate increase sales conversions.  Along with training all involved in the processes to be used, you will see a return in investment quickly.

Here are some benefits of a CRM that can help build a better relationship with your existing customers and convert new prospects:

• Being able to review past history of sales conversions to timely track closing new opportunities.
• More efficient understanding of specific customer needs by identifying them quickly.
• Upselling and cross-selling of related products to customers which increases profits.
• Tracking the profitable customers and targeting more of those prospects.
• Identifying and reactivating lost customers you can sell to again.
• Coordinating with marketing to get referrals (warm leads) from your satisfied customers.
• Staying in-touch with your customers on a timely and consistent schedule to increase repeat sales.
• Following up with new customers to provide customer service and retain them.

A CRM used to follow existing customer behaviors will assist a company to identify and find new customers as well as discovering potential new markets.  Knowing more about your customers leads to increased sales, profits and a bigger customer base to expand your business.

To learn more about finding and how to use the right CRM system in your business join our newsletter Bigger Slice of Business.