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Why do Customers buy what they buy?

Have you ever asked your best customers why they bought from you. This is essential to position your product or service.

Some of the reasons why customers buy what they do:

  1. They perceive a value in the product or service.
  2. To improve their productivity.
  3. To increase ease of doing business.
  4. To improve their profits.
  5. To build their brand image in the market.
  6. To beat competition.
  7. To be ahead in technology adoption.
  8. To streamline business processes.
  9. To improve employee satisfaction and morale.
  10. To satisfy the investors.

Happy Selling!!

Contact: kannan@zignalytics.com for any help in #Sales #Marketing #CRM

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Questions to ask yourself about your Sales Function

What Sales methodologies do you use ?

  1. Situation, Problem, Implication, Need-Payoff, popularly known as SPIN
  2. Keeping it Simple, being iNvaluable, Aligning your activities with your Customer’s priorities or SNAP
  3. Conceptual / Solution Selling
  4. Consultative Selling

Do you have a proven Sales process ?

The steps right from leads / cold calling / known universe to various sales stages till closure including but not limited to Prospecting, Validating, Needs assessment, Budgeting, Mapping Customers Org Structure, Demonstrating, Proposing, Closing, Following-up is a Sales Process. The question is to ask is: Is your Sales Process proven? Has it delivered the desired results quarter after quarter?

Do you need a CRM [Customer Relationship Management] Software? Why?

  1. What problems are you trying to solve using a CRM ?
  2. How are you currently handling sales ?
  3. Where and how do you find your clients ?
  4. Why should customers buy from you ?
  5. What implication will CRM have on your organizational goals ?
  6. Why is it important for your Organization to think like your customers ?
  7. Do you know the things you should keep in mind while implementing a CRM ?
  8. Why is CRM Adoption more important than anything else ?
  9. Do you know that a CRM can be used for Field Service, Channel or Partner Management or even for Product Management ?
  10. And it can be used for Banking and Financial Services Sales ? Have you heard of Vertical CRMs ?

Do you understand the power of CRM Analytics or in other words Customer Analytics?

  1. Why do you think CRM Analytics important ?
  2. Lead stage to Close – how much time did the Prospect spend at each sales stage
  3. Activities Vs Deal size – is your salesforce spending time and effort on high value deals
  4. Weighted Vs Goal, Balanced Vs Goal, Pipeline Overview & Other snapshots
  5. Forecasting, Forecasting Vs Actuals
  6. Is 20% of your prospects giving you 80% of your revenue and vice-versa ?
  7. Have you invested on Customer Analytics ?
  8. How Dashboard Creation can help you and your Top management ?
  9. What is the purpose of Campaign Analysis & Customer Segmentation ?
  10. Why should anyone undertake Trend, What-if & Pipeline Analysis ?
  11. Are you getting actionable insights from your customer data ?

Sales Training and Motivation:

  1. When was the last time your Sales Force attended a Training program?
  2. How often do you train your Sales Force?
  3. Are they equipped to take your company to the next level?
  4. Are they motivated enough?
  5. Who fixes the compensation for your Sales Force?
  6. What incentives do you give them?
  7. Do you recognize your best sales persons?
  8. What plans do you have to continuously educate your Sales Force?
  9. Is your back end team [Product Management, Delivery Teams] taking regular feedback from your Sales Force?
  10. Are you occasionally involving your Product / Delivery people  to meet prospects and customers along with your Sales Force?

I am sure these questions will help you frame fresh Sales Strategies, Process and Methodology. Spruce-up is not just desired but mandatory for growth.

Happy Selling !!

 

 

Pic Courtesy: http://www.freepik.com/free-vector/businessman-agreement-cartoon_774932.htm

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I was asked “What is a CRM” and this is what I answered…..

CRM is not anymore a buzzword. It is not just another acronym that an IT Professional builds skills on to grow in his / her career. CRM, as you are aware, stands for Customer Relationship Management. When someone says CRM, they refer to an application software used by Sales, Marketing and Customer Service departments of a Business entity. Typically, CRM has these three modules – Sales, Marketing & Customer Service. Analytics is either offered as another module or as part of all these modules.

Coming to the Sales module, the App helps Sales people of a business close more deals. The Sales CRM application helps in Account Management, Activity Management, Lead Management, Contact Management, Opportunity Management, Pipeline Management.

Typically sales people get leads from Marketing department and start validating those leads. Sales people also generate their own leads as well. Starting from a cold call, qualifying a contact as a lead or validating the leads passed to them and then finding an opportunity with that lead and converting that lead to an opportunity and taking that opportunity through various Sales Stages – for example from Needs Assessment to Closing and beyond, the Sales CRM helps sales people perform their job more efficiently.

CRM is unlike traditional applications used in an enterprise. By traditional applications, I am referring to the transaction oriented applications – say for ex, Financial Applications [that is used to track the finance from order to pay or purchase to pay etc] or Enterprise Resource Planning [ERP] application that helps in the back office business processes. These applications capture limited customer information – order and payment details of customers and cannot satisfy the requirements of the sales people.

Sales people are the face of any business. They occupy and run the front office. They are the point of contact when a customer walks into a business. They handle all the customer inquiries that are received through various channel. This is inbound traffic. Customers get in touch on their own and express interest in a product or a service. While sales people handle this inbound traffic, they also run outbound sales to identify customers who may be a good fit for their products or services and can benefit from them. The sales people do a number of activities to acquire new clients.

“Get closer than ever to your customers. So close that you tell them what they need well before they realize it themselves.” – Steve Jobs, Apple

Coming to Sales CRM, it captures customer data in detail and it is mapped to the Sales Process of an Organization. The sales process of an Organization is the process followed from the first contact with a prospective customer till the order closure. It starts with the sales person contacting a lead, understanding the needs and evaluating the needs, checking product fit or service fit, budgeting, Mapping Customers Organization Structure, Identifying Decision Makers / Budget holders / Influencers, Demonstrating, Proposal submission, PoC [Proof of Concept], Closing, Following-up.

The Sales CRM captures all the data through this entire process. It is a complete salesforce automation. Contact management is the basic feature that helps sales people to keep all customer contact details in one place. They can map social media accounts of their contacts as well. They can even create a field to capture the news feed about the customer’s organization from the web.

Sales CRM captures all the leads. Allows one to convert those leads into opportunities as they get qualified. The opportunities then follow a predefined sales process through various sales stages. And sales people can then visually see which opportunity is in what stage. A series of opportunities in various sales stages is a pipeline. And sales people can have multiple pipelines – one each for a specific product or a business entity or a division or a geography.

Sales pipeline management is critical to success of any organization. The low hanging fruits will be taken care of. But it is those warm leads that needs to be nurtured for long term success of an organization.

We sell Pipeliner CRM. It is a Pure play Sales CRM. You can visit this link to download a trial: http://www.pipelinersales.com/crm/free-trial/?referral=926.

Pipeliner CRM is a visual CRM. That is, at any given point, the sales people will be able to see which opportunity is in what stage and the app has a Sales Navigator that intuitively tells where the sales people should focus their energies and what should be done with all the other opportunities and other leads as well.

CRM is useful for any business with either one sales person or 200 sales people. Whether it is a B2B or a B2C. Regardless of whether it sells a capital intensive product or everyday use product. Whether they sell directly or through the distribution channel. Whether they sell online or offline. Whether their sales cycle is long or short. As long as they sell and want to grow by selling more, they need a CRM. CRM is an essential tool in today’s competitive world. Without that, businesses will be doomed.

It is not anymore a buzzword.

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How to choose the right CRM for your Organization

GetApp-CRM-Ranks

A thoroughbred CRM Consultant will ask you a number of questions before suggesting the best CRM that would suit your organization. From your organizations perspective, you may start documenting your requirements.

  1. List down the features that you cannot live without [Must Haves or Mandatory]. These are the core problems you are trying to solve.
  2. Then list down the Should Have category of requirements. These are High Priority items.
  3. Then list down the Nice to Have features. These are low priority items. These may become the deal clincher if all other things remain same with your final list of vendors.
  4. Then list down the features you are NOT interested in right now.
  5. Skills required for implementing such a solution. Is it available in-house or have to be hired ? Skills availability and/or training duration to get up to speed.
  6. Duration of the implementation cycle.
  7. Total Cost of Ownership including License Costs/SAAS Subscription Costs, Integration Tools Cost, Implementation Costs, Training Costs and Support/AMC Costs.
  8. Feature upgrades: Frequency, impact on business.
  9. Ease of use.
  10. Adoption Rates.
  11. Customer References, Industry Case Studies, Reviews.
  12. Road map, Profitability, Financial Standing of the vendor.

For Q1 2015, GetApp ranked Pipeliner Sales CRM as No.1 in the overall ranking. Feature-wise [User reviews, Integrations, Mobile App, Media Presence, Security] ranking [out of 20] is also listed above.

Get in touch with us to know more.