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Goldmine top-10-smb-crm-trends 2014-7-16-14

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Top 10 Small Business CRM Trends for 2014

Top 10 Small Business CRM Trends for 2014

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  • 1. Ian Michiels Principal Analyst Gleanster Research Featured Speakers: WEBINAR Top 10 SMB CRMTrends in 2014 COMPLIMENTSOF: Paul Petersen Vice President and General Manager GoldMine
  • 2. Top 10SMBCRMTrends in 2014 July16,2014 Ian Michiels Principal & Managing Director Gleanster Research COMPLIMENTSOF:
  • 3. Agenda Current trends in Customer Management & Customer Acquisition How are TopPerformers using customer data to inform marketing? How are next generation technologies solving these challenges?
  • 4. Agenda CRM in 2014: What should it mean for SMBs? Top 10 Trends in SMB + Recommendations GroundedbypracticaltacticsfromTopPerformingsmall businesses. Smallbusinessesdefinedby1-500employees.
  • 5. TODAY’S STATS PERFORMANCE BASEDALGORITHM All Survey Respondents 2014 Small-and-MidsizeCRM Benchmark Report, n= 247 Top Performers: Respondents that achievedTopQuartile performance in key KPI’s Everyone Else Gleanster Benchmark Stats
  • 6. Has the concept of CRM changed? CRM has been an established software category since the 1980’s Database Contact Management Salesforce Automation Customer Lifecycle Management • TechnologyCategory/ System • Frameworkor Discipline • ManagementTool • Opportunity • Contacts • Planning / Forecasting • Marketing,Sales,& Service
  • 7. When customers are in control, relationships rule Can Shop Anywhere Online Price Savvy Connected Everywhere Can Amplify OpinionsVia Social Media Overwhelmed by Marketing Messages HaveTheir Own Channel Preferences Have Rising Expectations YOUR CUSTOMERS
  • 8. Because of this… The Key to SMB Success is a strong relationship with customers … by any means necessary.
  • 9. Embrace the idea that CRM for SMB is a unique challenge and SMBs often get overlooked by technology providers. SMB CRM pricing is not the same as an SMB CRM solution. How is that typically done? ENTERPRISE $$$$$$$ SMALL BUSINESS $
  • 10. The problem is customer expectations are the same forSMB ENTERPRISE SMALL BUSINESS Show me a stellar customer experience! But, SMBs are often far more agile than Enterprise competition.
  • 11. Why areSMB’s investing in CRM? Proactive engagement Standardized data capture Better segmentation & targeting Data storage & availability Task management Mobility Visibility / forecasting
  • 12. Top 10SMBCRM Trends in 2014 Pick 3-5 and build them into your planning for 2H14
  • 13. Technology Plays a Strategic Role forTop Performers 0% 5% 10% 15% 20% 25% 30% 1 - Not Important 2 3 4 5 6 7 8 9 10- Critical On a scale of 1-10, how important are your technology investments in your customer engagement strategy? Top Performers Everyone Else 1.
  • 14. Technology Plays a Strategic Role forTop Performers 1. 65% 35% Top Performer AdoptionTrends On Premise On Demand 10% 10% 35% 45% Who Owns CRM? Operations Me Sales IT 68% 32% Yes No Top Performers: Is CRM Integrated with MarketingTechnology? 55% 58% 65% 98% 0% 50% 100% 150% Reporting Forecasting Nurture Campaigns Contact Records Used Top Performers: How is CRM being used?
  • 15. What does this mean? Customers informTop Performing organizations SMB strategy CRM is being used to pro-actively reach out to prospects / to automate customer engagement and task management. CRM is a central system of record for customer behavior in sales and marketing. IT resources play a critical role in CRM customization. ForTop Performers, CRM is more than salesforce automation. 1.
  • 16. ATrend Towards Customer Centricity 2. 75% 25% 45% 55% 0% 10% 20% 30% 40% 50% 60% 70% 80% Yes No Top Performers Everyone Else When you engage prospects and capture customer transactions do you capture additional custom fields that are used to personalize customer engagement.
  • 17. What does this mean? Top Performers capture customer data to inform marketing communications and close the loop on the sale. CRM becomes a strategic asset for your sales team when prospect and customer behavior can be accessed from within the system. Elevate CRM beyond a compliance tool If you ask your customers for additional information about themselves, you are setting an expectation that you will use the data to improve their experience. 2.
  • 18. Segmentation andTargeting 3. 71% 90% 91% 0% 25% 50% 75% 100% Impove data quality Improve customer targeting and segmentation Focus on customer needs rather than selling Top Performers Top 3 Reasons to Implement (or reasons for implementing)CRM in 2014 According toTop Performers.
  • 19. What does this mean? Too many SMBs rely on legacy practices that actually hurt the brand. Generic mass email communications, no opt-in, etc. CRM should provide a centralized source of insight on customers Prioritize your best customers – what do they look like? Consider targeting new prospects that look like your top 1-2 customer segments. Don’t boil the ocean with acquisition spend. 3.
  • 20. DataQuality is aChallenge in 2014 4. Do you trust the available data you have on customers? 71% ofTop Performers indicated proving the accuracy / quality of the data in the system was a challenge with CRM.
  • 21. What does this mean? It’s 2014, data capture should be automated. Marketing integration (email behavior) Customize layouts for data capture from sales Only ask sales reps for data you plan to report on and use. Minimize data capture to critical fields. Prioritize low hanging fruit. What data do you wish you had, and how would you use it? Back into which data to prioritize by establishing how you will use it. 4.
  • 22. Data Integration 5. Is your marketing data fully integrated within CRM? 10% 20% 70% 24% 59% 17% 0% 50% 100% Not Integrated Partially Integrated Fully Integrated Top Performers Everyone Else
  • 23. What does this mean? Data integration can be interpreted 2 ways: Integration with Other Systems Integration withThird-Party Records Reporting is limited and SMBs struggle to close the loop marketing and sales. i.e.YOU ARETHROWING MONEY AWAY! Data integration can increase production time on sales reporting from days to seconds. When integration is present,Top Performers rely on standard reports from systems. Try not to complicate things with a constant desire to customize reporting. 5.
  • 24. Affordability equals accessibility forSMB 6. SMBs are fearful of licensing fees and high maintenance costs associated with CRM Considerations On-Premise: On-Premise generally has one time license fee and unlimited users Requires hardware and IT resources Generally offers more robust features On-Demand Rapid implementation time No hardware costs License fees per user can rapidly become far more expensive than on-premise – especially over a number of years.
  • 25. What does this mean? SMBs have lots of options with respect to CRM – pricing is no longer a barrier to entry Rely on the vendor to provide the burden of proof that the tool can address your needs It’s a good idea to initially consider services from the vendor or partners when rolling out an implementation They will implement best practices so you don’t have to learn the hard way They can tell you what others in your industry generally do 6.
  • 26. SMB Dedicated CRMOffers More Bang for the Buck 7. Consider your options when evaluating providers: 85% 15% Does your CRM solution offer more than salesforce automation? Yes No  Customer Service  Forecasting  Marketing  Inventory  Configure, Price, Quote  Product Lists
  • 27. What does this mean? Some enterprise CRM solutions have SMB pricing, but the additional features like marketing, service, inventory management, and customization usually cost extra. When evaluating a new CRM investment, consider your needs and where your organization might be in 3-5 years. Only 20% of respondents using CRM for over 3 years indicate they had plans to switch to a new solution. 7.
  • 28. SMBs are warming up to mobile 8. Are you using or have you considered mobile access to CRM? 25% 70% 5%5% 77% 18% 0% 50% 100% Using Planning on Using Not Planning to Use Top Performers Everyone Else
  • 29. What does this mean? Mobile needs to be a turnkey and easy to implement option from technology providers. SMBs mobility requirements are no different than enterprise. What you actually get in mobile CRM may not be what you think so: Look at the level of information you have access to – opportunities, contacts, reporting. Determine what information you will actually need and make sure vendors offer that level of detail without excessive customization. 8.
  • 30. Analytics and Reporting is Painful for SMBs 9. Top Performers continue to struggle with analytics – mostly from lack of data and lack of turnkey reporting.
  • 31. What does this mean? Centralize customer data Minimize the use of spreadsheets for reporting, unless you have a template. Standardize metric calculations using technology Create a wish list for 3-5 CRM dashboards. Is the data available? If the data was centralized could the report be automated? 9.
  • 32. Ease ofUse 10. Ease of use is not something we tend to quantify when discussing technology, BUT it plays a huge role for your organization. • Top Performers are 4x more likely to engage line of business users in CRM demos to ensure the technology is a fit for everyone.
  • 33. What does this mean? Don’t dictate the decision – engage any stakeholders that will actively manage CRM. Adoption is key. Generally the systems work the same way, it hasn’t changed all that much for 30 years. Consider how much customization is necessary and weigh that against the cost. Consider how easy it is to integrate with other back-office systems like ERP, the website, email marketing etc. 10.
  • 34. TheTop 10 Trends inSMB CRM 1. What’s up with the technology divide forTop Performers!? 2. Customers are informing decisions 3. Better segmentation and targeting 4. Data quality 5. Data integration 6. Affordability 7. SMB CRM generally offers more bang for the buck 8. Mobile 9. Analytics 10. Ease of use means everybody
  • 35. GoldMine Premium Edition Advantage  A central database  Your “Corporate Memory” of all customer & prospect information  Interaction Planning and history  Workflow & the tools you need to increase efficiency  Filter and target for marketing and automated nurturing  Affordability: shared licensing make sit easy to give all access – especially occasional users  Key integration points from Constant Contact to Social Media to ERP  Reporting to manage it all including real-time drill down dashboard  Works with what you use & own  Mobility: thin client or Mobile Devices  Gleanster poll rated Best for Features & Functionality
  • 36. One Example
  • 37. Mobile CRM  Get instant access to the latest customer information  Never miss a sales opportunity or customer service engagement  Update sales opportunities and customer service cases  Works with Apple iOS and Google Android Devices
  • 38.  Visit goldmine.com for videos & Test Drive  Download new Product Spec sheets  Get a copy of Gleanster SMB report at  Take the CRM Assessment at www.crm-assessment.com Next steps
  • 39. Thanks! Q&A Ian Michiels Gleanster Research @InsightFanatic ian.michiels@gleanster.com

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