MyCRM Weekly News Round Up 12/8 – Latest CRM articles.

Each week, we like to try and bring you 5 topics from across the spectrum relating to CRM news from various news and blog sites.  This week we have found our top 5 topics with links to the relevant sites 1.CRM software industry grew significantly in 2013 According to recent analysis by Gartner, the customer relationship management (CRM) software industry grew by about 14 per cent globally last year, and the numbers for 2014 are looking very positive. The Gartner report, called "Market Share Analysis: Customer Relationship Management Software, Worldwide, 2013", indicates that there was a very strong demand for SaaS, or software as a service, a category that includes CRM software.  Back in 2012, the CRM software market was worth around £10 billion.  Last year, CRM software revenue was almost £12 billion. The report also shows that the competition within the CRM software industry has become even fiercer than before, with the top five players comprising almost 50 per cent of the sector’s total revenue.  Microsoft CRM was in the top five. Customer experience and digital marketing initiatives are the main driving forces of the CRM software market. "CRM will be at the heart of digital initiatives in coming years," stated Joanne Correia, Gartner’s VP of research.  "This is one technology area that will get funding because digital business is critical for companies to remain competitive." It is worth mentioning that the IT services, communications, and media industries happen to be the biggest spenders within the CRM software market, primarily because they focus on large groups, which tend to use call centres.  These industries also require strong analytics in order to improve the overall customer experience – a principle of any CRM strategy. Source: http://www.techradar.com/news/software/business-software/global-crm-market-shows-strong-growth-in-2013-1247155?attr=all   2.CRM secrets every small business should know  The internet can be a difficult place to compete, especially for small businesses.  However, small businesses can thrive online with the right strategy and plenty of focus. That’s where CRM – customer relationship management – comes into play.  The customer experience is what drives sales and builds a loyal, satisfied clientele.  Small businesses simply need to identify their strengths and build on them to make their customers happy. The small business competitive edge Small businesses often have an advantage over their larger counterparts because they can take the time to really get to know their customers.  The competitive edge here is that small businesses can offer things that big business cannot, such as personalisation.  Get to know the customers and give them the benefit of small business customer familiarity. Be knowledgeable A strong CRM strategy doesn’t mean just investing in the latest CRM software; it means also taking action to provide the best possible customer experience.  That is why businesses should have knowledgeable staff members who are prepared to answer any and all questions.  Investing in additional training for sales and customer service staff is always a good idea. Act like a small business Even the savviest of customers appreciate the feeling they have when they patronise a mom-and-pop shop, which is why small businesses should act like small businesses, albeit carefully.  Emphasising staff training, as mentioned above, is a must.  However, it goes further than that. Make sure the staff spends time with customers, either via the chat programme, emailing or even on the phone. These ideas aren’t exactly revolutionary, but they do often fall by the wayside as small businesses try to compete with larger companies in their respective sectors.  All too often, they forget that there is a certain advantage to being a small company.  Remember, CRM is so much more than a programme; it is also a strategy. Source: http://www.crmbuyer.com/story/80280.html   3. When CRM fails, it is usually because of the team Many times, CRM is thought to simply be a technology, but it is not so much a technology as it is a business discipline.  However, it is not a discipline to be practised by one person; it is actually a group effort.  Everyone in the business must be committed to CRM to enhance the overall customer experience. However, CRM practises aren’t always embraced right away, often because implementing a solid CRM strategy comes with integrating CRM software.  There is always a learning curve, and a little bit of time is usually needed to adjust to the new system. Sometimes, management deems CRM to have failed, but why?  In most cases, the cause isn’t the CRM system but rather the failure of those using the system to fully embrace it.  Here is a look at the staff that can often make the most – or the worst – of a new CRM strategy or system. Sales executives.  Often, a new CRM system is brought in because of perceived problems in the sales process.  However, if the executives don’t fully buy into the strategy or system, there will be no benefits.  Even if the sales team uses the programme, the data will go to waste if the higher-ups aren’t using it. Support staff.  Customer service representatives are constantly in contact with customers and play a huge role in building loyalty.  If these employees see entering data into the CRM system as optional, the bottom line will fall.  Make sure that the support team enters everything they can into the CRM system. Marketing department.  If the marketing department doesn’t add sufficient information about each lead into the CRM system, how will sales and support know what the next step is?  If sales and marketing aren’t communicating, customers could feel neglected and might not trust the business. Sales staff.  There is no doubt that the more information a salesperson has about a particular customer, the more likely they are to close that deal.  Often, the failure of sales staff to use the CRM system effectively starts with leadership.  The success of the CRM strategy should be shared with all employees so that everyone commits to its adoption.  Remember, this is a team effort! Source: http://www.crmbuyer.com/story/80382.html   4. Improve fitness sales with a CRM system An increase in sales is always good for the bottom line in any industry, which is why even fitness facilities should consider adopting a customer relationship management (CRM) system. Tracking sales opportunities, analysing customer data, and predictive analysis are all essential tools to a business’s success.  They are all also very difficult to achieve without an automated system.  That’s where CRM software comes in.  A CRM programme turns these challenges into opportunities by uniting the sales, marketing, and customer service departments via a single platform that everyone has access to. It doesn’t matter what size a facility is or its service scope; a good CRM system is a must-have for any company that wants to attract and keep members.  Often, the perception that CRM is only for large businesses stops smaller companies from taking advantage of the benefits that CRM has to offer.  Remember, CRM isn’t just about the software – it is also a strategy. Getting to know the customer is not a trend.  It is a legitimate business strategy that can reap long-term rewards. So, how can a CRM system help a fitness facility?  First of all, the cost of finding new customers is more expensive that retaining existing ones.  A CRM system can help increase sales by helping marry customer needs with facility strengths to keep customers happy and loyal. Another way that a CRM system can help boost sales is through better lead management.  The days of losing hot leads are gone when everyone on the sales team has access to up-to-the-minute information.  This means a decrease in response time and more efficient customer service. So, what’s the delay?  Invest in a CRM system right away! Source: http://clubindustry.com/resourcebeat/crm-software-makes-selling-easy-your-fitness-facility   5. Turning CRM around with reporting tools  Business intelligence, or BI, is a vital tool that helps businesses make the most of their efforts.  Often, BI is thought to be limited to customer information, but that isn’t exactly the case.  In reality, BI plays an important role in the CRM strategy. The CRM system helps businesses gather lots of information about leads, customers, and sales practises, but it can also help record data about the way a business actually uses its CRM strategy.  This can be a great help to any business, but the trick is actually using the reporting tools to turn the CRM strategy around. One of the great “forgotten features” of the CRM system is the internal reporting.  This is unfortunate because there is so much it can do for a business. Using the tools If more businesses would simply use the internal reporting tools that come with the CRM system, they would have a much clearer understanding of their business’s efforts.  Knowing how widely, how frequently, and which employees use the system is extremely beneficial in understanding the effect the CRM strategy has on the company’s success. This information can help determine which departments are lagging in performance and which ones are excelling. The internal reporting tools can also provide evidence of patterns, which might help managers coach personnel to improve their use of the system and increase sales.  These patterns can also help identify leadership issues. There is a lot that CRM can teach managers about the business itself, and it can teach them even more about the customers.  So, if business owners are open to learning these lessons, they should make better use of the reporting tools in their CRM system. Source: http://www.crmbuyer.com/story/80365.html     About MyCRM  MyCRM limited are a managed service CRM provider of Microsoft Dynamics CRM, currently in our 5th year of trading with customers in 26 countries.  We can provide either a full managed service platform based on Microsoft technology or have a range of software extensions though our App Store which enables end organization’s to adapt and extend their CRM systems.  We have a full in house product design and development team, along with support and service team to help organization get the best from their Microsoft Dynamics CRM implementation. Contact http://www.mycrmgroup.com/ App Store & Download Centre http://downloads.mycrmgroup.com/          

MyCRM News round-up 5 top articles on CRM topics

Here is the latest news update, we have been trawling the CRM news channels and blogs once again to get some of the latest stories and articles and include one of our own press release this week   MyCRM launch eMap 1.2 for Microsoft Dynamics CRM “eMap 1.2 is the first release with the integrated data service giving access to over 60 million business records, and completes a milestone that has been in the plan for some time” stated Sales and Marketing Director, Alistair Dickinson Source: http://www.prweb.com/releases/mycrm/bingmaps/prweb12026598.htm   Why every business needs a CRM champion In the industry, the person who takes responsibility for a company’s CRM strategy is known as the "CRM champion."  This person doesn’t mess around; he or she knows that the main factor in the business’ profit chain is the customer. The CRM champion must know all the ins and outs of the CRM system and should always be working on honing the company’s CRM strategy; otherwise, sales will suffer. Here are some reasons every business needs a dedicated CRM champion: To keep CRM relevant at the executive level.  The CRM champion works to bring the big picture of the CRM strategy to the executive level.  He or she will work with every department to ensure that the strategy is effective and cost-efficient. To implement cost strategy.  Implementing a CRM system and strategy can get expensive, and the CRM champion should focus on making sure that the process is successful in every way from conception to launch.  As long as timelines, balanced budgets, and quality assurance are accomplished, there is success. To act as a liaison between tech and staff.  Coordinating all operations for the CRM system implementation can be a challenge, especially when it involves so many different departments: sales, tech, management.  The CRM champion should be able to speak tech just as easily as sales. To handle CRM-related questions.  There has to be a go-to person when questions related to the CRM implementation come up, and that’s the CRM champion.  He or she should be the ultimate authority on the project and be able to provide a realistic resolution.   Source: http://it.toolbox.com/blogs/insidecrm/3-reasons-your-business-needs-a-crm-champion-61071   The basics: analytical CRM One of the newer terms in customer relationship management (CRM) is "analytical CRM," but what does this really mean? In its purest form, analytical CRM is the process of supporting decision-making practises that increase the customer experience and improve customer interactions.  Analytical CRM spans the gamut from data mining and simple reporting to predictive analytics.  What does analytical CRM entail? The truth is, most companies already engage in analytical CRM and don’t even realise it; the simple act of reporting on activities fits the bill.  Sales activity reports, conversion reports, or any other similar report is part of typical sales management and is considered to be analytical CRM, although just barely. Analytical CRM isn’t just simple reporting.  It does get a lot more complex.  Massive, computing-intensive efforts that run automatically, email blasts based on pre-set customer criteria, and other actions, which are typically derived from predictive analytics, are also within the range of analytical CRM. Reporting does a company good In general, most companies would benefit from more robust reporting.  While it is true that too much data can be a problem, using only the standard reporting tools from the CRM system is just the starting point.  Every CRM system allows users to customise the reporting features to a certain extent, so managers should do so with more focus. Having a solid summary and interpretation of information on every level is important to truly understanding the customer experience and improving the impact of CRM strategies overall.  The key is to use customised reporting in small, incremental steps to truly garner the benefits of analytical CRM. Source:  http://it.toolbox.com/blogs/insidecrm/what-is-analytical-crm-and-when-do-you-need-it-59281?reftrk=no&trdref=4232425265674d61696c696e673a496e736964652d43524d   Learning from your customers Companies spend vast amounts of money on customer relationship management (CRM), market research, and analytics to figure out what customers want.  What many of these companies are not doing is simply asking their customers what they want.  This is something that can go a surprisingly long way. Remember, giving the client base a voice is an important way to enhance the overall customer experience. So, what are some good ways to source information from customers?   Ask the customers directly.  Taking the time to just ask customers what they want is well worth it.  Managers may find that customers want to learn more about a particular product or service or they may want to see a new variant of customer service.  Talking to customers and finding out what they want is a great way to learn from them and also a great way to build loyalty.  Find out what your customers are reading.  Integrating some marketing automation software into the CRM system can help correlate content downloads with sales and make connections as to what might be a trigger.  Often, a buyer’s online journey begins with some piece of content and ends with a visit to a site, resulting in a sale.  If businesses know what their clients are reading, they may be able to reach even more potential customers. Talk to the sales team.  There is no other department that deals with customers more frequently, so talk to the sales team.  The sales staff typically knows what customers are thinking about during the sales process.  It may also be a good idea to use the sales team to find out more from the customers, which goes back to the first point.  Have the sales people ask if there is anything that could have helped make the process easier.   Businesses have an obligation to keep their customers as informed and appreciated as possible while providing the best in services or products.  The customer experience is based on the interaction between client and company, so take advantage of it and learn from it. Source: http://www.crmbuyer.com/story/80246.html   Common CRM mistakes and how to avoid them Sometimes, the customer relationship management (CRM) strategies a business implements just don’t seem to be working, even with all the tools, analytics, and technology available.  Every manager knows that when the customer experience leaves a bad taste, business suffers. Here is a look at some of the most common CRM mistakes and what managers can do to rectify them.   Conducting business piecemeal.  It’s obvious when companies are doing things half-heartedly.  Simply installing a CRM system doesn’t solve the issue; implementing best practises and focusing on customer service goes a long way. Not taking a holistic approach.  All too often, marketers think about individual campaigns, not the big picture.  A strategy with a proactive approach to customer service actually enhances the customer experience.  This means maintaining customer service beyond the sale. Using poor data.  Many customers are savvier than business owners think.  It is time to improve the quality of data and shift from a transaction-based data set to an opt-in preference-based data set to drive personalised communications and offers. Using the wrong metrics to measure success.  Today’s customer typically judges a company based on the overall experience, not just the product.  So, businesses should stop looking at short-term sales and ROI from single campaigns and start looking at performance over time. Boosting the bottom line isn’t just about numbers, it’s about experience.  That is precisely why a strong CRM strategy is required.  Businesses should try to understand the customer journey from the customer’s perspective to truly satisfy their needs. Source: http://www.business2community.com/customer-experience/6-customer-experience-mistakes-dont-want-make-0847726#!FO8JT   About MyCRM MyCRM limited are a managed service CRM provider of Microsoft Dynamics CRM, currently in our 5th year of trading with customers in 26 countries.  We can provide either a full managed service platform based on Microsoft technology or have a range of software extensions though our App Store which enables end organization’s to adapt and extend their CRM systems.  We have a full in house product design and development team, along with support and service team to help organization get the best from their Microsoft Dynamics CRM implementation. Contact http://www.mycrmgroup.com/ App Store http://downloads.mycrmgroup.com/

The secret to successful customer engagement

Technology has brought business a long way in the last few years, but there is no doubt that it will forever be the age of the customer. This means that engagement between employees and customers is more critical than ever. In most cases, engaged customers are typically better brand advocates, more loyal, and spend more money with that business. Therefore, it is important for businesses to have a clear understanding of the foundation of customer engagement in terms of how to attract and influence them. Here are some secrets to engaging the customer that every business owner should know. Trust and transparency Even though this is business, there is an emotional component to customer engagement, which is often more powerful than rational engagement. The customer sentiment cannot be ignored, nor should it be. Customers who are emotionally engaged will complain less frequently and give more compliments. Respect customer privacy and give them a voice; they will be loyal in turn. Make a commitment to fairness Everyone wants fairness in life and work. Although some businesses view ethical engagement as optional, it really isn’t. With social media and mobile devices, businesses can no longer hide their social responsibility actions or lack thereof. Fairness is a fundamental value that consumers want in the companies they support. Make knowledge available Customers put a lot of value on quality, detail, innovation, service, and knowledge. A business that provides helpful, relevant information in addition to their products and services will be viewed as more valuable to its customers. This could be achieved through a weekly newsletter, offering helpful hints on a social platform, or anything in between. Incorporate social, mobile, and traditional elements When there is active customer engagement, businesses will find that customers are more willing to interact with them by making purchases, offering feedback, and providing invaluable insights on their experiences. Therefore, organisations should not discount traditional elements to customer engagement while at the same time embracing modern methods such as mobile and social platforms. Source: http://www.cmswire.com/cms/customer-experience/4-secrets-to-successful-customer-engagement-024622.php   If you are looking for some help moving your CRM solution forward or looking for help with migration or upgrade then contact MyCRM today www.mycrmgroup.com About MyCRM Here at my CRM we offer our customers http://www.mycrmgroup.com/customers.aspx the best solutions to help them drive business forward and gain real benefits from implementing Microsoft Dynamics CRM. We are in our 5th year of trading as a business and have seen incremental growth year on year in profits, our team are based in the Isle of Wight, UK and we maintain relationships with customers in 26 countries. If you need help, support or advice with your Microsoft CRM then we are waiting for your email. Sales@mycrmgroup.com   MyCRM Download Centre and App Store You can also register with the MyCRM App Store and Download Centre for Microsoft Dynamics CRM here http://downloads.mycrmgroup.com/