How do you increase ROI from CRM?

Defining clear goals and metrics for your CRM is like setting the GPS for your business journey – it guides your strategy and keeps you on track. As a leader in Business Intelligence, I've seen firsthand how crucial it is to align CRM objectives with overall business goals. Whether it's boosting sales conversions or enhancing customer loyalty, identifying the right KPIs is essential for measuring success and making data-driven decisions. Remember, a CRM is not just a tool, it's a growth enabler. 🚀 #CRMStrategy #DataDrivenSuccess #BusinessGoals

Setting clear CRM goals and KPIs is crucial. It guides your strategy, measures success, and ensures CRM aligns with business objectives. Define, track, and thrive.

Increasing ROI from a CRM system involves a multifaceted approach. One can start by setting clear objectives, ensuring data accuracy, and segmenting the customer base for targeted marketing. Automate repetitive tasks, integrate with other systems, and prioritize user training and adoption. Using CRM for superior customer support and service while regularly analyzing data for insights. Collecting and acting on customer feedback, nurturing leads, and identifying cross-selling opportunities. Measure ROI by comparing benefits to costs and continuously refine CRM strategy. It's an ongoing process that, when done right, can significantly boost revenue and profitability.

Investing in a CRM without a clear understanding of what you hope to achieve is like setting sail without a compass. By defining clear goals, like enhancing sales conversions or bolstering customer loyalty, and then anchoring them with measurable KPIs, biz's can harness the full potential of their CRM. Having established metrics allows for ongoing assessment, ensuring the CRM strategy remains aligned with evolving business objectives. It is also key to understand the resources available within the organization, and company size. I.e. If you are in a large complex org with lots of resources, Salesforce might be best. But if you are in a SME, something like Hubspot is probably going to work better because it is easier to get up and running

Definir suas metas de CRM, sejam da própria frente (como CTR, CTOR) e de negócio são fundamentais. Isso vai lhe auxiliar e lhe guiar em um objetivo mais claro, mensurável e com mais clareza caso algum ajuste de rota seja necessário na estratégia ou execução.

To evaluate a ideal CRM, start with research. Evaluate features, scalability, security, and support. Prioritize user-friendliness, customization, and training. Make an informed choice to avoid costly mismatches with your business needs and budget.

This is a great start to choosing your CRM. Another approach to look at this is to look at what your company needs now, vs what you need in the future. Do you want a CRM that you can continue to develop and scale together with you, or do you prefer going ahead with a more fit for purpose CRM for the present and don't mind migrating to another in the future. Looking at your current tech stack would also help your decision. If you have been going with the best of breed, you might also want to choose a CRM platform of the same as well.

Do not underestimate the maturity and agility of the vendor to support you in the journey. Is their innovation roadmap providing you with new exciting features that will make your company stand out from the competition? Is the vendor investing enough in AI/ML to uncover new use cases? And what are the reference customers they have?

Many things to consider when making sure the CRM you choose is right for your business. Start by understanding your business objectives. What do you want to achieve with your CRM? Improved customer service, sales growth? Choose a user friendly CRM. Nothing is more frustrating to a user then having to learn a new tool that can be too complex. Make sure the CRM can grow with your business. Scalability is essential as your customer base. Your CRM should be able to adapt to your needs. Custom fields, workflows, and internal reports capabilities are nice. Protecting customer data is a must. Choose a CRM with strong security measures and compliance standards. Ensure the CRM provider offers training and excellent customer support.

Primeiramente é necessário criar uma estrutura de funil e informações importantes que deveriam ser preenchidas no CRM. A partir disso é necessário criar automações para agilizar o processo e a integração com o ERP é fundamental para isso. O RD CRM da RD STATION By TOTVS atende a todas as necessidades.

A CRM should never live in a silo. CRM without your precious customer data is just a glorified database with certain automation tools involved. Once your CRM is enriched with information, and this ranges to billing all the way to individual product asset information that the customer owns. Ever wondered how some companies just know who you are at the point that they call you? That's because all of these information enriched their CRM, providing highly personalised information, and importantly, making you feel like a valued customer.

CRM is not just for the sales team; it should be a central hub for all customer-related activities. Encourage cross-departmental collaboration and communication by integrating your CRM with other business systems. This integration eliminates silos, enables shared customer insights, and enhances the overall customer experience.

A successful tech stack at a company is like a thriving ecosystem. Without certain parts, others cannot exist. You should strive to have rich, clean data flowing in from multiple sources. Alongside great processes this ecosystem of data will allow you an advantage in not only serving your customers, but fostering new growth within your business.

Sales navigator and Salesforce are a powerful combination to both stay organized and efficient. Leveraging the proper prospecting techniques in sales navigator will make it so you hardly need to live in Salesforce when you’re in a prospecting sprint.

ROI can be increased by embedding the right tools with the CRM depending on your business and industry. The goal is to offer value to the customer and differentiate yourself from the competitors. Before deciding on which CRM to get, research on the CRM features and the integration which will benefit your business the most.

Consider gamification in the training to make and keep your users engaged. Use bite-sized training materials that users can quickly pick up and digest. Also ensure you develop a community of champions who are passionate about the tool and are keen to train other groups of users in the community.

When clients talk about training, I often use the quote "I can build your team an F1 car, but do you or any of your team know how to drive one?". Touching back on the point of "clean, flowing data", not much matters unless your team knows the expectations, and processes aligned with that data. Training is a crucial component of success, and often adoption relies heavily on the one teaching.

Ever thought of trying to make a iPhone user switch to Android and vice versa? Does it take a while for the user to learn how to use the device? This is the same of CRM. Change management is often neglected in most CRMs implementations. It fails because the system integrator is only concerned with a strong technical implementation, but they overlook or are incapable of providing the needed organizational change management. Companies may not be entirely faultless here, as many would only want to pay for the technical implementation but not want to pay additional for the associated change management costs. However, without proper training, rollout plans, and communications, adoption will be an uphill task.

User adoption is indeed the backbone of a successful CRM implementation and usage. I'd encourage you to have a high volume user on your team be part of the decision making process. If your system is not easy to use, or creates more work than it alleviates, chances are it is not going to catch on. Instead of taking the "use it or else..." approach with your team, make it fun, and create small benchmarks/goals. Data entry is going to be painful on the front end, but try doing it as a team, or provide small incentives for the initial start up work that will go into getting it set correctly. If you can get users interested and engaged from the jump, it makes the transition so much smoother in the long run.

Change control is critical! I love Simon Sinek and his 'Why'- change control has to include the why! Why are we implementing, why will it improve our business, why will it make our people's jobs easier etc. Get people behind the program and they will support, engage and adopt and, however good your planning was, things will go wrong.... good quality change management (upfront and not a last minute after thought) will help control the ney sayers and get people behind positive feedback and adoption.

Like any strategy, a CRM approach must evolve in response to the ever-changing business landscape. Regularly reviewing and refining based on data-driven insights ensures the system remains aligned with both customer expectations and organizational goals. Feedback mechanisms, such as surveys or focus groups, provide invaluable perspectives from the frontlines, ensuring the CRM remains not only efficient but also resonant with its users. Continuous improvement in the CRM strategy is akin to fine-tuning a musical instrument; it ensures harmony with the broader business orchestra and maintains peak performance.

Your CRM is a living and breathing database. It is not a sprint to do the initial implementation and then leave it as that. It is an ongoing transformation to constantly make it the source of truth of your customer information, such that every team can rely on that to do their daily tasks better. I agree that the constant evaluation to see what works and not is important. Most CRM softwares have multiple upgrades every year. Make sure that you maximise the use of the platform by incorporating the latest upgrades to boost your productivity and increase the overall ROI of the solution.

Junk in, junk out. If you have half researched data, missing contact info, not regularly updating the database, and not learning everything the CRM offers that can be leveraged to do work FOR you, you will end up with a part-time job constantly shuffling through data and playing clean up. "Does your CRM work for you, or do you work for your CRM?" - Vernon Harrison CRMs databases get neglected for years and can get to a point where you might as well nuke the whole thing and start over. Both client and prospective client data should be held to an equal standard as far as data hygiene goes. If you have thousands of "leads" in your CRM that just reach out to only when you can, you also likely have a deeper problem with your sales approach.

Regularly assessing the effectiveness of your CRM implementation against predefined goals and metrics is crucial for driving continuous improvement. Think of it as conducting a performance evaluation to identify strengths, weaknesses, and opportunities for growth. Analyze key performance indicators (KPIs), user feedback, and market trends to identify areas where adjustments or enhancements are needed. By iterating on your CRM strategy based on these insights, you ensure that it remains aligned with evolving business needs and industry dynamics.

STAY UPDATED with CRM ADVANCEMENTS: CRM systems often roll out updates or new features. Stay informed about these changes and adapt them to your business needs.

Elevate CRM ROI with these steps: 1. Clear Goals: Define aligned objectives and KPIs. 2. Smart Selection: Choose the right CRM platform. 3. Seamless Integration: Integrate with key tools. 4. Engage Users: Ensure user commitment through training and incentives. 5. Continuous Enhancement: Regularly adapt based on data and feedback. 6. Customer Experience Focus: Prioritize improving customer experience and relationships with CRM insights. Always seek ways to improve customer experience and relationships, leveraging CRM insights!

Take advantage of the reporting and analytics features in your CRM to gain insights into your sales and marketing efforts. Use this data to refine your strategies continually.

AUTOMATE MUNDANE TASKS Use the CRM to automate repetitive tasks such as data entry, follow-up emails, and reminders. This saves time and ensures consistency in customer interactions.

Reviewing and improving your CRM strategy is like fine-tuning a musical performance—you listen carefully, identify areas for enhancement, and strive for perfection. Regularly assessing the effectiveness of your CRM implementation against predefined goals and metrics is crucial for driving continuous improvement. Analyze key performance indicators (KPIs), user feedback, and market trends to identify areas where adjustments or enhancements are needed. By iterating on your CRM strategy based on these insights, you ensure that it remains aligned with evolving business needs and industry dynamics. Stay updated of technological advancements and best practices in CRM to capitalize on new opportunities for innovation and optimization.

CRM not only helps one know the customer but track the changing behavior and pattern, customer delight is one aspects but wining and gains the Loyalty is rare phenomenon so keeping constant watch in competitions and customer, and changing scenario is helpful to improve the customise offering help company to increase RPU( revenue per user) and track the performance ROI, ROMI(Revenue on Marketing investments), ROI replace be Return on Customer Life cycle.( ROCL).