Measuring CRM effectiveness and ROI

One of the biggest investments your business can make is software and hardware, so it is critical that the decisions made are not on a whim but made with the correct information to hand. As an investment, there's no doubting the fact that CRM software can represent excellent value for money. However, being able to measure exactly how effective it's being is a key part of working out exactly how valuable it's being. That's why a new piece on Investment News is worth looking at: it details some of the key attributes to look at in order to work out CRM software's ROI. Engagement How pro-active is the software in terms of actually creating engagement with customers. Yes, it sends out e-mails, but does it receive them back? How many people have engaged with the brand that otherwise wouldn't have if the CRM software was not in place. Key things to consider is the configuration of the system and how metrics can be gathered and used for business purposes.  As an example CRM with email marketing from MyCRM has an average cost of £50 per user per month and enables an organisation to send unlimited emails and track responses.  If those responses are not then used for sales and further engagement where is the ROI?  Well it might be an ROI in driving more traffic to your web sites, but predominantly real ROI in anything is dictated by the number of returning sales and profit generated. Percentage of clients The chances are that before the CRM software was installed, your firm already had a number of clients in place. The key, then, is to work out how many of the clients you now have were brought in through the software. Are there clients there that probably wouldn't have bought a product or service had it not been for the software? But as you wil know the software is just the enabler so the strategy for your CRM is how you can drive more business and record and react on the information you have.  Many organisation will start small and define a single process.  Some define the whole business, either way at MyCRM we can help you work towards a goal of successful customer management and sales generation. Client turnover This is another key factor. Removing client turnover full stop is virtually impossible for any business. However, it should be possible to measure whether or not this figure has gone up or down since the software was installed. Remember, CRM stands for Customer Relationship Management: the software is there to help you improve the ways that you engage with your clients. It's important for statistics to bear out the fact that it's doing that. Source: Investment News If you are looking for some help with the implementation of development of your Microsoft Dynamics CRM then you can contact me here http://www.mycrmgroup.com About MyCRM MyCRM has over 20 years’ experience in understanding how CRM as a technology and CRM as a process can work in business and has therefore developed a number of off-the-shelf extensions to enhance CRM productivity. We offer from our own fully managed datacentre, with a licence per user Microsoft Dynamics CRM platform, you can see more about using MyCRM as a managed service here: http://hosted.mycrmgroup.com/   As an Independent Software Vendor (ISV) we offer a range of pre-built application extensions for your Microsoft CRM Solution. You can get access to a range of products for Microsoft Dynamics CRM from the MyCRM download centre here: http://downloads.mycrmgroup.com after registering for an account.

5 Steps to migrate to new CRM software

If you've made the decision to move to a new and more productive CRM system, then it's important to be able to justify the migration. A new piece in the Business 2 community website has highlighted some of the ways in which this can be justified. Through research Anyone who's made use of CRM software before knows how vital it is for the software to be fully compatible with the needs of the team. If you're able to highlight some of the ways that the new CRM system will blend in with company processes, then you're halfway towards selling it. Discuss the idea with everyone It's important to discuss every aspect of the CRM process with the sales team. Try and glean from them information regarding how they would improve the tools that they're currently using, and what suggestions they might have in terms of software used in the future. Being able to combine relevant software with the needs that the team have specified is a strong factor in making changes. Analyse the opportunity costs When choosing between different CRM software, it's vital to ensure that the one you go with offers the best opportunity for improving sales. One of the keys to this is making sure that it offers the latest in mobile compatibility, and includes aspects such as phone integration and report generation. The better results the CRM software can produce, the more favourably it will be looked on as a good investment. Any data evidence to support this can only help the case. Rally the team involved. Once you’ve done the research and chosen a solution to propose, speak to others about switching CRMs and get them onboard, too. Start with your team and branch out to others in the company – tell them why they should want to switch, too. If management hears the suggestion that it’s time to switch to a new platform from multiple sources, it will be an easier message to digest. Get management buy-in. You made it to the final step. Congratulations! You’ve done your research, analyzed costs and gathered support from around your business. Now, write it all down and present your findings to management. Tell your boss why switching CRMs matters to you, your team, other teams, and last but not least – them. Source: Business 2 Community   If you are looking for some help with the implementation of development of your Microsoft Dynamics CRM then you can contact me here http://www.mycrmgroup.com About MyCRM MyCRM has over 20 years’ experience in understanding how CRM as a technology and CRM as a process can work in business and has therefore developed a number of off-the-shelf extensions to enhance CRM productivity. We offer from our own fully managed datacentre, with a licence per user Microsoft Dynamics CRM platform, you can see more about using MyCRM as a managed service here: http://hosted.mycrmgroup.com/ As an Independent Software Vendor (ISV) we offer a range of pre-built application extensions for your Microsoft CRM Solution. You can get access to a range of products for Microsoft Dynamics CRM from the MyCRM download centre here: http://downloads.mycrmgroup.com after registering for an account.

Top CRM buyer trends in 2013 by Software Advice

An interesting set of research results has been highlighted by Software Advice an organisation that typically helps buys of software pick the right solutions You can see the full article here http://www.softwareadvice.com/crm/buyerview/report-2013/ The research was conducted with 5,279 software buyers between January and August this year and uncovers the top deployment model, features and motivation for evaluating new technology. Here are some of the key findings:  · Of companies who indicated a deployment model preference, 96 percent requested a cloud-based solution · Seventy five percent of integrated suite buyers requested sales force automation · Seventy six percent of best-of-breed buyers requested sales force automation · Nearly 90 percent of buyers requested contact management, note-taking capabilities and/or reporting and analytics As we move into 2014 and 2015 the software industry will continue to change and those vendors that are ready with download one use apps will likely prosper along with the solution providers that offer easy access to functionality for download or from within the cloud as a servers also known as Software As A Service. The research goes on to show the views of CRM buyers, and below the commentary from leading analyst Paul Greenberg discusses the points raised. Implications for CRM Vendors  In discussing our results with leading CRM industry analyst Paul Greenberg, we discovered a few implications of this report for software vendors. For one, CRM vendors need to ensure they focus on their products' reporting and analytics features -- companies increasingly expect these features to deliver real-time insights that enable them to personalize the customer experience and not just report on productivity. Additionally, vendors need to make social an integral part of their product; both in reporting capabilities as well as in the information included in contact profiles. In addition to Greenberg’s insights, our analysts see another implication for software vendors in this data. While 91 percent of buyers were interested in a standalone, best-of-breed solution, 25 percent still asked for integration with other critical systems. Vendors need to invest in making solutions capable of integrating with a variety of business programs, including those within the CRM industry, as well as other critical enterprise systems. Analyst Commentary  “In its early days, CRM systems were really good at creating operational efficiencies,” said Paul Greenberg, president of The 56 Group, LLC. “They still do this today, but now it's also about how effective they can make each interaction in terms of actually growing revenue - not just cutting costs.”  “CRM vendors should focus on adding or improving capabilities that will increase the efficiency of CRM’s bread and butter, sales force automation,” said Ashley Verrill, CRM analyst at Software Advice. “While many buyers are still looking for standalone functionality, there is a significant demand for CRM that works with social and other forms of data to streamline customer service efforts and take action when it matters most.” Methodology  The data presented in this research was obtained through Software Advice’s interactions with 5,279 CRM software buyers between January and August 2013. In these conversations, buyers were asked which functionalities, integrations and applications were crucial in their new system, as well as which deployment model would work best for their organization. Of the buyers included in the sample, 68 percent were currently using non industry-specific software or manual methods to manage customer relationships. About Software Advice Software Advice is a trusted resource for software buyers. The company's website, www.softwareadvice.com, provides detailed reviews, comparisons and research to help organizations choose the right software. Meanwhile, the company’s team of software analysts provide free telephone consultations to help each software buyer identify systems that best fit their needs. In the process, Software Advice connects software buyers and sellers, generating high-quality opportunities for software vendors. Since its founding in 2005, the company has assisted more than 150,000 software buyers. Software Advice is headquartered in Austin, Texas where it employs a team of ~80 (and growing). It has been recognized as one of the fastest-growing companies in the United States by Inc. Magazine. If you are looking for some help with the implementation of development of your Microsoft Dynamics CRM then you can contact me here http://www.mycrmgroup.com About MyCRM MyCRM has over 20 years’ experience in understanding how CRM as a technology and CRM as a process can work in business and has therefore developed a number of off-the-shelf extensions to enhance CRM productivity. We offer from our own fully managed datacentre, with a licence per user Microsoft Dynamics CRM platform, you can see more about using MyCRM as a managed service here: http://hosted.mycrmgroup.com/ As an Independent Software Vendor (ISV) we offer a range of pre-built application extensions for your Microsoft CRM Solution. You can get access to a range of products for Microsoft Dynamics CRM from the MyCRM download centre here: http://downloads.mycrmgroup.com after registering for an account.   

Managing the CRM process in your business

I recently came across an interesting new article in Forbes has explored some important points regarding the buyers journey, a number of which can be linked to the CRM software process. Use the software tactfully CRM software can be genuinely invaluable. However, it's important to ensure that it is presented to the sales staff in a way that isn't too threatening. Rather than presenting it as some sort of all seeing eye, it should be presented as exactly what it is: software that can make the lives of sales staff far easier. Buyers can channel-surf It is important to remember that in the digital age, buyers use the web at every single stage of the process. Previously, it was normal to estimate where they were in the sales process simply by viewing their engagement with different channels. Now, though, individual channel preferences for different buyer personas are vital in gauging the sales process. Good sales staff will already know what they're doing It is also important to remember that by their nature, good sales staff are already very intuitive, so the chances are that they'll know how invaluable the CRM software could be to them. Work with the outstanding members of the team to try and help implement the new process and share the exciting potential of the software. Plan, plan, plan As with all new integrations, it is important to plan everything out and to never be afraid of altering the sales and marketing process if new CRM data suggests that a change might be necessary. Source: Forbes If you are looking for some help with the implementation of development of your Microsoft Dynamics CRM then you can contact me here http://www.mycrmgroup.com About MyCRM MyCRM has over 20 years’ experience in understanding how CRM as a technology and CRM as a process can work in business and has therefore developed a number of off-the-shelf extensions to enhance CRM productivity. We offer from our own fully managed datacentre, with a licence per user Microsoft Dynamics CRM platform, you can see more about using MyCRM as a managed service here: http://hosted.mycrmgroup.com/ As an Independent Software Vendor (ISV) we offer a range of pre-built application extensions for your Microsoft CRM Solution. You can get access to a range of products for Microsoft Dynamics CRM from the MyCRM download centre here: http://downloads.mycrmgroup.com after registering for an account. 

When is the right time to invest in a CRM STRATEGY?

A new piece in the Business 2 Community website has explored a number of factors in terms of the right time to invest in a new CRM system. Some of the points are worth looking at further: Once a certain level of customers has been built up CRM is purpose built to assist your sales team in serving clients and customers in the best way. Essentially, it is therefore worth investing in the system as soon as you have enough customers. The likelihood is that the software will actually help you maintain their custom and grow with the needs of different organisation you work with.  Once you have a CRM system in place you can easily import data that you might have purchased and start marketing to those organisations and contacts to drive interest and sales. If you're starting to lose customers A customer base that starts to shrink is a serious problem for any company. So what, exactly is the cause of it? CRM software can be a very effective way to help a firm work out why customers have left: because it analyses every step of the sales process, and trends can be seen in the data and problems identified. With a system like Microsoft Dynamics from MyCRM you will be able to track key areas like Sales, Marketing and Support and if you have unhappy customers then you will soon be able to track those interactions. If communication is a problem Effective communication remains a key part of the sales process, and if the team isn't able to effectively and easily share information relevant to the sales process, then this will likely cause some problems. CRM software will enable a firm to store all useful data in one place. Collaboration is key to success and the last thing you want is individual sales people becoming silos and not sharing opportunity and success. When the business is uncertain If you're unsure where you're going, then a CRM system is a seriously worthwhile investment. By analysing the data it becomes possible to analyse it all and to forecast future patterns. As a result, the company can be better prepared for the future. Moving up from Start-up As your young business starts to grow and expand this is the key time to introduce affective tracking and monitoring systems Like CRM.  Key areas will be Marketing, Sales and Support, and at a glance you will need to understand what is happening in your business. Have the knowledge to understand customer interaction feedback and sales will help you to plan and realise growth. A CRM solution like Microsoft Dynamics CRM from MyCRM with eCampaign ePDF and eMap can help deliver these systems to your business.  Your organisation will then be able to see customers by region and understand what type of business and products are being sold to what type of customer in what areas and by who. Post-recession when growth returns. The past few years have been difficult for a number of business sectors but as we emerge from the global slowdown and the banking and financial readjustment, growth will return.  This is now a great time and opportunity to review your businesses Sales and Marketing strategy.  The global uplift over the next two years will cause business growth and market leads will emerge, those organisation that streamline and deliver customer excellence will lead the growth and upturn from the front. Working with MyCRM MyCRM has over 20 years’ experience in understanding how CRM as a technology and CRM as a process can work in business and has therefore developed a number of off-the-shelf extensions to enhance CRM productivity. We offer from our own fully managed datacentre, with a licence per user Microsoft Dynamics CRM platform, you can see more about using MyCRM as a managed service here: http://hosted.mycrmgroup.com    As an Independent Software Vendor (ISV) we offer a range of pre-built application extensions for your Microsoft CRM Solution. You can get access to a range of products for Microsoft Dynamics CRM from the MyCRM download centre here: http://downloads.mycrmgroup.com  after registering for an account. Article Source: Business 2 Community Site www.mycrmgroup.com

Getting ROI from CRM not just Like for Like

A new article in Business 2 Community has chosen to take a look at calculating ROI when using a CRM system.  Interestingly, within the piece are several tips highlighting the different mistakes that are typically made when using the system.  These are well worth further exploring: Information silos Businesses will often simply replace one set of information silos with another taken from the CRM silos.  There is no thought to the process, and often the new set of data is no more valuable. Understanding the business process and how this is implemented is key to the success of not only the implementation but giving your Customer the experience they deserve. No reconciliation Another very common error is the fact that there is often no reconciliation between the goals of sales and the goals of marketing.  These are two key departments within the CRM process, and it's vital for them to be able to co-exist. CRM can help join this departments and business processes together but thought needs to be given on the tools to be used and the implementation, using tools like eCampaign from MyCRM can help create follow-up phone calls for sales teams from marketing activities. Managers create reports for the sake of it Whilst there's little denying the fact that effective reporting can offer genuine insight capable of increasing sales and improving the process, it is still vital to ensure that this reporting is being conducted with legitimate aims, rather than just for the sake of it. Within tools like Microsoft Dynamics CRM you can easily create Dashboard activities to give a snapshot of activity without running and producing lengthy reports. Managers not accepting the CRM data On some occasions, it's an unfortunate fact that managers stuck in their ways will actually ignore the data that the CRM software has provided, and instead continue to try and control the conversations in a pre-CRM manner, this is down to engagement and end user training of the new implementation. Not actually using the system Some businesses still believe that a CRM system is the key to sales success, and it is.  However, it has to be used effectively: if it just sits there, then not much of interest will take place. The CRM implementation for your business is not about the purchase of a new bit of software but very much about bringing all teams together to share collaborate and work effectively placing your customer at the centre of your organisation. Source:  Business 2 Community About MyCRM MyCRM has over 20 years’ experience in understanding how CRM as a technology and CRM as a process can work in business and has therefore developed a number of off-the-shelf extensions to enhance CRM productivity. We offer from our own fully managed datacentre a licence per user Microsoft Dynamics CRM platform, you can see more about using MyCRM as a managed service here: http://hosted.mycrmgroup.com/ As an Independent Software Vendor (ISV) we offer a range of pre-built application extensions for your Microsoft CRM Solution. You can get access to a range of products for Microsoft Dynamics CRM from the MyCRM download centre here: http://downloads.mycrmgroup.com after registering for an account.

CRM and the sales team

A new article in the Business News Daily has taken an interesting new approach to the CRM process by asking exactly how the Wizard of Oz can teach companies about the CRM process.  There are actually some interesting lessons within the piece:   Sales teams should concentrate on closing   It's important to remember that any CRM software should be used to help compliment the work that the sales staff are carrying out, and shouldn't mean that they spend all of their time simply adding information to a database: as the article states, they're not data entry clerks!  It's important that the CRM software makes the sales process simpler.   Optimise the solution around the sales team   Again, this is a matter of ensuring that the sales team's abilities are complimented by the CRM software being used.  Skilled sales people are capable of seeing opportunities and making the most of them.  The CRM software being used should enable them to thrive in making the most of their already existing skills.  It's important that it doesn't slow them down.   Value the opinion of the sales team   It's vital to always allow members of a team to contribute positively to the process in which they're involved.  In this sense, it's vital that the sales team are able to work with management in order to improve the processes that the CRM software is linked with.  They should be allowed to use their expert knowledge to help the management ensure that the software is working to the very highest levels of potential.   Source: Business News Daily   As we move in to 2014 and as economic growth returns to all areas of business you may be considering better CRM and automated system, if so, then contact MyCRM to help implement Managed CRM http://www.mycrmgroup.com   About MyCRM MyCRM has over 20 years’ experience in understanding how CRM as a technology and CRM as a process can work in business and has therefore developed a number of off-the-shelf extensions to enhance CRM productivity. We offer from our own fully managed datacentre a licence per user Microsoft Dynamics CRM platform, you can see more about using MyCRM as a managed service here: http://hosted.mycrmgroup.com/ As an Independent Software Vendor (ISV) we offer a range of pre-built application extensions for your Microsoft CRM Solution. You can get access to a range of products for Microsoft Dynamics CRM from the MyCRM download centre here: http://downloads.mycrmgroup.com after registering for an account.  

How to Improve the CRM Process

Once the CRM software has been invested in, it is important to ensure that you make the most of it.  That is why it is worth having a further look at a new piece in Mashable, which is focused on some key ways to improve the process: Foster word of mouth Even in the digital age, word of mouth remains invaluable in helping to increase sales.  The more customers talk about a company, the better!  Building a good online profile and obtaining a high level of trust with customers is the ideal way to help develop the profile enough for people to start passing on recommendations and a good CRM software system can help with this. Remember in a digital social world, a like or a tweet can have the same amount of response as human interaction and digital word of mouth should be part of your CRM strategy. Value feedback Asking for feedback on the web can be a brave step to take but it is a good idea.  Whilst customers will usually be brutally honest with everything they are unhappy about, they will rarely actually troll in the conventional sense.  Use feedback and combine it with relevant CRM data to improve the process. Also work with your customers and ask for references for your products and services, if they are unhappy they will soon tell you or not want to respond to the request. Always be honest One of the most important ways to handle the CRM process is to make honesty the key policy.  The key is to build up positive, trusting relationships with customers and honesty remains the best way to do this. Always take a personal approach to communications, especially if the company is smaller. Keep track of all the data As with all CRM software, data is invaluable in ensuring that relationships increase and sales grow as a result of the data.  Ensure that data is kept accurate. Source: Mashable As we move in to 2014 and as economic growth returns to all areas of business you may be considering better CRM and automated system, if so, then contact MyCRM to help implement Managed CRM http://www.mycrmgroup.com   About MyCRM MyCRM has over 20 years’ experience in understanding how CRM as a technology and CRM as a process can work in business and has therefore developed a number of off-the-shelf extensions to enhance CRM productivity. We offer from our own fully managed datacentre a licence per user Microsoft Dynamics CRM platform, you can see more about using MyCRM as a managed service here: http://hosted.mycrmgroup.com/ As an Independent Software Vendor (ISV) we offer a range of pre-built application extensions for your Microsoft CRM Solution. You can get access to a range of products for Microsoft Dynamics CRM from the MyCRM download centre here: http://downloads.mycrmgroup.com after registering for an account.      

Using your CRM data during the Christmas build-up

It is now December and as almost everyone knows the festive season is also one of the key sales periods for any retailer, whether they are online, on the high street or a combination of both.  A new piece has highlighted how CRM software can help any company improve their festive sales. Analyse the customer data If a CRM system has been in-place long enough, it is possible to analyse customer data and anticipate exactly what sort of purchases will be made during the festive period.  What will different customers buy and when will they buy? Create unique messaging Some companies will send out e-mails based solely around Christmas, i.e. 'here is our new range of Christmas products.' However, it is important not to forget that all customers are different.  They should, therefore, be sent different e-mails.  Christmas focused, yes, but still based around their likes and dislikes. 'Christmas bargains' should go to some people, and 'spoil yourself this Christmas' should go to another.  CRM data is the key in helping to segment customers and the data should not be wasted. Send out useful information CRM data will enable a company to send customers relevant information about services and products over Christmas.  If, for instance, a customer has bought a Christmas hamper every year for the last four years, it is reasonable to expect that they will do so again.  Knowing this enables the company to send them information on the different hampers available at the moment and where they can pick them up from.  This targeted festive marketing is one of the key benefits of using a CRM system. Source: Clickz Once the Christmas Holidays have passed you there are a number of things you should look at to help drive you business year on year Here are a few points 1.Analyze your customer sales. 2.Segment your customers. 3.Create messaging for individual customers and/or pools of customers. 4.Nurture and educate them with relevant  information. 5.Send them an offer. 6.Watch sales roll in; track, test, evaluate and repeat. If you need help implementing you CRM strategy or are just looking for a provider than can manage the service for you then please contact MyCRM today on http://www.mycrmgroup.com About MyCRM MyCRM has over 20 years’ experience in understanding how CRM as a technology and CRM as a process can work in business and has therefore developed a number of off-the-shelf extensions to enhance CRM productivity. We offer from our own fully managed datacentre a licence per user Microsoft Dynamics CRM platform, you can see more about using MyCRM as a managed service here: http://hosted.mycrmgroup.com/ As an Independent Software Vendor (ISV) we offer a range of pre-built application extensions for your Microsoft CRM Solution. You can get access to a range of products for Microsoft Dynamics CRM from the MyCRM download centre here: http://downloads.mycrmgroup.com after registering for an account.