Monday, March 31, 2014

Need of CRM software for Sales Force

You have worked very hard to build your business, most lovingly and painfully, and you naturally aspire to grow at faster pace each day. You are aware that the business is all about Acquire - Service - Retain! The goal of most of the businesses is to make a profit by Acquiring, Servicing and Retaining customers (A-S-R).

Worried About?
  • Lead Generation
  • Lost Revenue due to Employee Attrition
  • Follow up Missed-Opportunity Lost
  • Effective Allocation of Complaints
  • Increased Competition
  • Non Viable Service Contracts
  • AMC / Warranty / Consumable Tracking ...
Give us a chance to explain you:
Why do you need SalesMantra - CRM ?
What priority you should give to CRM? Let’s explain what you need to know, and know if CRM is needed at your company.
These questions can determine your CRM needs:
  • How many prospecting follow-ups do your sales reps make each day?
  • Does everyone who communicates with a customer knows what their coworkers said to them or did for them?
  • Is all customer information kept in one area or program for easy customer service reference or everybody maintains their own database?
  • Do have a complete track of all the opportunities, if your sales person quits his job?
  • Are you able to manage the top 20% of accounts that give you 80% or your revenue?
  • Do you know how many customer service issues each customer has had and why?
  • Do you know which customers consume most of your CSR Rep’s time?
  • What is your revenue per sales representative?
  • What are your win, loss and no-decision rates?
  • How many sales calls are completed per rep?
  • What are the numbers of existing customer contacts and repeat business orders?
  • How do you rate your marketing or lead generation program effectiveness?
The chances are most of the answers to the above will be in negative, thereby clearly demonstrating the utmost need of CRM implementation in your company.




Friday, March 28, 2014

Key Benefits of Sales Mantra CRM

INCREASE YOUR SALES AND PROFITS WITH EXISTING SALES TEAM” 
WITHIN A VERY SHORT PERIOD OF IMPLEMENTATION THROUGH OUR UNIQUE SOFTWARE CALLED
  “SALES MANTRA”.


The results happen through your close interaction with the sales people, fully knowing what he is doing and giving your valuables inputs, wherever necessary, to bring him on course, through the software:

  • Ready to use Software, available on web, anytime-anywhere-with no additional hardware, software
  • User based nominal charges
  • Real time reporting

Some key reports which can be generated with “SalesMantra” which you can view on daily weekly or monthly basis are:

Sales Followup Report: To know what your sales person has done (phones, visits, mails etc)

Sales Funnel report: To know the status of the sales call of the sales person (location-wise, branch-wise)

Sales Projection: To project the sales on a monthly basis

Quotation Report: To know how many quotations have been sent.

Neglected Sales Call: To know the status of the calls on which the follow-up has been missed.

Sales Lead Generated Report: To know how many new sales inquiries have been generated.


Expense Report: To know the branch-wise and employee-wise expense details.



Thursday, March 27, 2014

Challenges in Sales Management

The length of the sales cycle and difficulty closing the pipeline were pinpointed as the biggest challenges for sales:

S. No.
Challenges
Solution
1
High turnover of sales people: Loss of sales opportunities if Sales Rep quits his job
Attrition in sales force can be managed without loss of business as system having track of each and every sales opportunities including the status of each call and could conveniently switch responsibilities to someone else to take them forward
2
No of days spent by a sales recruit to get into the sales process.
Sales rep could get into the sales process day 1
3
Multiple approach to a prospect by different divisions/ sales teams within the organization. Person / location specific way of maintaining sales data
Multiple approach to a prospect by different divisions/ sales teams within the organization are highlighted and controlled, as Sales data being maintained and available centrally and as a standard process/format across the organization
4

Focused and effective management of valuable leads to analyze : Lead to order conversions/ failure
Record conversion of lead into sales call and tracks their position in the sale. Alerts/ feedback features facilities faster decision making /closure of deals
Enables the management to analyze the whole sales process :
Suspect -> Prospect -> Follow-up -> Quotation -> Order -> Post Sales Support
5

Sales Reports are not up-to-date : Unable to analyze the sales data as quantum of data is huge and enormous time and efforts requires in compilation and preparation of regular review papers in excel
Real time reporting system : Employee performance can be maintained on day to day, weekly ,monthly or yearly on a click of mouse. The real time reports generated by the software such as sales call report, Product Order Report, Employee Target Report, Expense Report etc to analyze product & employee performance
6
Facing difficulties in monitoring and reviewing day-to-day sales & service activities
Creates and manages daily schedule of sales rep activities with alerts for pending work


Some points to know,
• 67% of sales managers have their own individual sales target to achieve.
• 49% of sales directors felt that, although deals are closing, it takes a very long time to do so.
• 22% reporting lost pipeline as their biggest challenge.
• 49% of sales managers have had no more than two days training in the last two years.
• 82% of sales directors may not be accurately measuring the performance of the sales force.
• 60% of sales directors find that traditional training courses do not change the behaviour of the sales
force in a sustainable, long-term way.
• 96% of sales directors stating that they want their sales force to sell solutions, not products.
• Only 16% of companies use accredited coaches.
• 91% of internal coaches have been found to have had no more than 4 hours training.


Thursday, March 20, 2014

WHY CRM IS NECESSARY FOR BUSINESS?

If you wonder why CRM is necessary for any business in developed or seed stage, the answer is really simple. Whatever business you are into, it will be difficult for you to grow it economically unless you have a group of happy customers and for any business to succeed customer's satisfaction is a must. As Mahatma Gandhi quoted "Customer is not dependent on us. We are dependent on him. He is not an interruption in our work. He is the purpose of it." As it reflects from his saying that keeping the Customer's satisfied and happy should be the main purpose for any Business, yet CRM is not a priority task for many companies today. But why is it so?
First all we should understand the true meaning of CRM. So what is CRM?
Customer Relationship Management (CRM) is a procedure of understanding their niche Customer's group and to respond to them more effectively and most important quickly and also fulfilling their desires at times instantly.
Like all other modern day useful technologies CRM is a technology that allows the companies to collect and manages their vast amount of customer's database and carry out their business strategies accordingly based on the information collected by them. CRM is must for the companies who want to grow their business globally and also increase their market share by having long term relationship with their Customers. Although opportunities for CRM market are strong there are speculations by many people as what is the conclusive advantage to companies and customer's? The answer is very simple every company whether small, medium or large has their own ideas but moreover a common goal. They want to keep on adding their existing customer's volume and expand globally. This will not be possible unless you have a strong and loyal group of customers otherwise those ideas will be difficult to execute in current competitive world. By using CRM you can be sure that you already have a strong group of loyal customer's database to be built on.
In recent times many circumstances have lead to success of CRM. One of the important factors can be the increased interaction between companies and customers with use of more advanced technologies. CRM database gives the companies the effective tool for analyzing their marketing tool for effectively implementing their ideas. Now day's customer's demands are changing on daily basis due to new technologies and availability of more improved product and services. You can use CRM as a business tool to measure customer satisfaction and to analyze your new competitor's. It can be also used for improved customer's retention and to design more productive customer's service programs. As CRM is about keeping and managing your entire customer's database it can be used in other ways, like forecasting your sales more authentically.
CRM has endless benefits apart from some stated above which you can enjoy with help of CRM. Unless your customer's are happy and are not buying more it directly affects the employees. When you will see both your customers and employees are satisfied, you will know the real answer of why CRM is important for your business.


Monday, March 10, 2014

Why CRM software is required ?

CRM as the term itself indicates Customer Relationship Management Or We say “Customer Remains Mine” always.
In today challenging world the market trends are changing herculean pace, markets are becoming more and more customer oriented and competitive.
Question: Have we ever noticed the fact why customers are important to us?
Answer can be, because customers pay for our food, our living and existence of our business.
Question: Ever noticed, why customers switch to other option if not taken care properly?
“Not taken care properly, in this competitive market there are enormous options available. They can switch to some of our competitors.
Customers are like fission reaction one good customer opens the path to several customers and opportunities are only converted into healthy business, better the relationship much better path to growth. Same applies either way also, an irate customer takes few more with them, so making a customer rejoiced should be our main aim in today market place.
Key to stabilize our business relationship with customer and earn their regular requirement, is to provide them “WOW” effect and give them environment which makes them feel “We care for them”. Lack in timely conversation to customer may raise chances to lose an opportunity. Here is where CRM solution makes to achieve relationship which will bond them with us forever.
This can be achieved if we have a team which is focused, planned and aware of customer requirement, issues, and provides the solution in time rather them making them wait till they get irritated and start building a negative impact upon us.
In earlier time emperors having best army in the world ruled, however, no one noticed that what made them unbeatable was there artillery, swords and weapons’, tool, strategy. Our Sales and service teams are also, the army or the front line for our organization which brings us business, they are the people who first point of contact for a customer, we should also; make them equipped with a tool through which they can work quickly, efficiently and strategically.
Why CRM is important for our team?
  • More we help our sales team in maintaining their leads more strategically and efficiently, more are the time we are giving them for closure, more customers they can reach rather than preparing their report which manager wish to have on their table.
  • Regularly approaching customers help us to grow our relationship with them, deeper we can reach to get there requirements and serve them better.
  • Customer issues are well answered and kept a track of same, moreover issue once notified remains which helps keeping track of future same issue and there resolution.
  • Customer’s segregation according to their requirements, buying nature, industry can be tracked.
  • More, strategic and analytically reports generated helps management to maintain customers and keep a track of their team.
  • A quick service team leads to much more satisfied customers; customers need not run various departments for resolution of query. If not resolved management can have look for the reason.
A good analysis of business helps you to find out the areas where we are having a gap and gives us a path to reinvent or rebuild the gap with more focused approach.
Moreover, the benefit part is that more we speak to customer and help them in focused way, better the foundation we are building for healthy relation, better the relation, more business from clients which directly proportionate with growth of employees and our organization.

Thursday, March 6, 2014

What is Customer Relationship Management or CRM?

Customer Relationship Management concerns the relationship between the organization and its customers. Customers are the lifeblood of any organization and CRM help to manage them in an effective way.

Why manage customers?

Customers are the usual source of income for an organization. Customers are also an exceptional source of information - information which is vital to enable a business to succeed; i.e. giving customers what they want.
Pareto's Law is commonly known as the 80:20 rules.
Typically in any organization:
  • 20% of customers account for 80% of your turnover
  • 20% of customers account for 80% of your profits
  • 20% of customers account for 80% of your service and supply problems
It is important to know is which customers fit into which category and then to manage them accordingly.

Managing customers entails:

  • knowing what customers want and need - which enables you to focus your production and service efforts
  • knowing which products or customers have most growth potential - which enables you to focus on developing highest potential
  • knowing which products or customers are most or least profitable - which enables you to focus on maximizing profit
  • knowing which customers will be advocates and supporters - which enables you to provide references, case studies, and to safely test new products and services
  • Knowing Which Customers or product kill most of time of service engineer : which enables you to analyzing you product performance

What is the most common sales problem which can be solved through a CRM?

  • No idea whom to sell: Most of the time sales person consume their sales time with non-productive customer because they didn’t know who is out target audience is.
  • Never Plan for a day or Week: Most of the time sales person don’t have plan for his daily or weekly activity and because of this organization sales and employee performance gets down.
  • High attrition rate: In today era where employee switches his job in every year or 2 year time’s all relevant information gets misplaced.
  • Customer history: As we use different communication mode and account manager get change so it’s difficult to know customer history.
  • Real time information sharing: Some time it takes more than require time to share information with-in a organization or team.
  • Return on investment done on marketing Activity : We spend a big amount of our budget on Marketing activity like Advertisement, participation in exhibition but never get a track or analysis that how much business we had generated through these activity or where to spend more or where to cut the budget but a CRM will help in this.
  • No repeat Orders: Once Sales Person gets order he forget his customer and organization didn’t get repeat orders and as steady shows that getting a order from new customer taken 80% efforts but same time with help of 20% efforts we get orders from existing customers.
A CRM not help us to manage our relations with customers it also help us to analyzing customer requirement and our product performance. A good CRM helps management to get over different sales hurdle and enable to sales team to give their best performance every time.