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Expanding Sales In Shrinking Economy


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Businesses are being more frugal with their spending and are putting their money into areas that improve sales, better customer services or help them gain operational efficiencies.

Join us for a free live Webinar to see how CRM technology is one of those critical areas that companies continue to purchase, especially during tough economic times. The right CRM system can help a company:

* Understand its customer base better
* Get more relevant data to its sales force
* Increase revenue opportunities
* Provide greater customer services
* Help marketing develop more highly-targeted and effective campaigns.

In a down economy, customers expect more for their hard-earned dollar - more value, more service and more attention!

Those companies that stay current with technology improvements and invest in CRM solutions to better understand and serve their customers will capture greater market share now and have a competitive advantage when the economy bounces back.

Published in: Business, Technology
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Expanding Sales In Shrinking Economy

  1. 1. Expanding Your Sales in a Shrinking Economy April 23 and 24, 2009 Hosted by NetProspex - Presented by Chris Bucholtz, Editor, InsideCRM .com
  2. 2. Hoarding vs. Investing Three points: 1: Investing now may seem counterintuitive, but it‟s invaluable for driving value out of your existing investments and getting the most from your sales team 2: Not investing will put you behind the competition – now and especially when the economy rebounds 3: There are ways to invest in your sales and marketing process that expand sales, even in today‟s economy © 2009 All rights reserved. Page 2
  3. 3. Sales vs. Marketing • Can be an area of conflict  creates a drag on revenue • Technologies are now available to make both sides of this equation work better • The downturn is also a great time to get to work on synchronizing efforts © 2009 All rights reserved. Page 3
  4. 4. Justifying the Investment in CRM Main justification for purchasing  CRM Buyers look for increased sales visibility CRM system and want to make a tangible impact on revenue with CRM. Improve Sales 36%  Many CRM buyers mention “Improved Sales Management Management” as the main justification, but Better Action On Leads 32% also to make their businesses more agile -- either to early detect risk within their Increase Rep. Productivity 12% business or capitalize on opportunity.  CRM is often viewed as the “ultimate Improve Reporting 4% business dashboard”, not just for sales but for the entire business. Improved Sales 4% Forecasting  The classic gap that exists between sales and More Sales from marketing, as evidenced by “Better Action 2% Existing Customers on Leads”, is becoming more pervasive and growing reason to justify a CRM purchase, Other 10% especially for Business Decision Makers. Q4 Buyer „s Guide Study; Sample Size: 52 © 2009 All rights reserved. Page 4 © 2008 Tippit, Inc. All rights reserved.
  5. 5. Tools for Boosting Sales Efficiency The Technology is Aligned with Timing • Lead Generation tools • “CRM 2.0” • Sales Training Technology • Sales Intelligence • Sales Efficiency • Marketing Automation © 2009 All rights reserved. Page 5
  6. 6. Lead Generation Tools Best Defense  Strong Offense • Sales & marketing - beat recession ▼ If reduced # buyers ▲ Increase # prospects • Focus on sales fundamentals • In B2B, we need to talk with more customers to win their business • Do we have the names and contact details for all our potential buyers, influencers and champions? © 2009 All rights reserved. Page 6
  7. 7. Business Contacts & Directories Choices • List industry ― Offline, no transparency • Traditional online – Hoovers/InfoUSA ― C-level focus, often lack email • Networking tools - for relationship sales ― LinkedIn/Zoominfo ― Limited by user membership or web coverage • User generated - great for transactional sales ― Most in-depth. Look for ensured data quality
  8. 8. New Generation Directory Benefits • Identify more buyers, influencers & champions • Direct communication via marketing or sales ― Direct, concise personal email from sales ― Meeting invites by email ― Webinar invites by email ― Telesales • Online directory – enhance discovery opportunities ― Easy to find related job titles esp. at large companies ― Easy to go up or down the chain
  9. 9. CRM 2.0 Technologies Build better customer relationships by being part of the discussion • Social media: blogs, YouTube, Facebook, LinkedIn, etc. • Aggregation Tools: Digg, NetProspex, InsideView, etc. © 2009 All rights reserved. Page 9
  10. 10. Sales Training Technology • Intended to avoid cutting into sales time • Makes meetings about the important stuff • Some can provide sales assistance in real time • Example: © 2009 All rights reserved. Page 10
  11. 11. Sales Intelligence New technology gives you insight into the pipeline • Pipeline analysis after the fact: • Example: Xactly • Pipeline analysis in real time: • Examples: LucidEra and others © 2009 All rights reserved. Page 11
  12. 12. Sales Efficiency Tools: Implementation • Don‟t try to eat the pie in one bite • Introduce efficiency boosters in stages • Use CRM as a Hub © 2009 All rights reserved. Page 12
  13. 13. Sales Efficiency Tools: Implementation • Choice of solution • Pick a solution that solves the problems and pains of the sales staff rather than one that creates new ones. © 2009 All rights reserved. Page 13
  14. 14. Sales Efficiency Tools: Implementation Ease of Use and Integration Flexibility are key for CRM buyers Most important buying criteria for • CRM Buyers are focused on simplicity and CRM “plug and play” as two most important criteria when entering the CRM considered Ease of Use 43% purchase process. Integration Flexibility 38% • CRM Buyers expect “immediate impact” Product Features 14% from their CRM purchase. “Shorten the gap of integration.” Customization 14% • User adoption can be a significant pain Overall Price 13% facing organizations. Vendors need to make Ease of Implementation 11% the transition easy and day-to-day workflow intuitive. Reporting Functionality 10% “We need an easy-to-use product because non-tech employees are the Vendor Reputation 6% main users, so at the end of the day they need to have an easy to use and Other 2% train solution.” Sample base: 127 % respondents
  15. 15. Sales Efficiency Tools: Implementation • Treat the sales staff as if they were the customers of your CRM solution • Training is critical © 2009 All rights reserved. Page 15
  16. 16. Sales Efficiency Tools: Implementation • Monitor adoption closely • Celebrate milestones and successes – use them to build enthusiasm for greater adoption © 2009 All rights reserved. Page 16
  17. 17. Improving Marketing Efficiency • Most leads generated by marketing are not acted upon • Often, leads not ready to buy are simply discarded instead of being nurtured until they are ready • Many marketing organizations don‟t know what is working and what isn‟t © 2009 All rights reserved. Page 17
  18. 18. Marketing Automation • Comes in several degrees of complexity, from email only to multi-channel • Can evaluate leads‟ value by examining behavior • Integrates with CRM • Provides feedback on effectiveness of marketing campaigns © 2009 All rights reserved. Page 18
  19. 19. Marketing Automation • Available in an on-demand format – you pay monthly instead of up front, and avoid large up front costs • You also avoid maintenance costs – updates, backup, security, etc. • Examples: Marketo, Eloqua © 2009 All rights reserved. Page 19
  20. 20. Implementing Marketing Automation • Look for ease of use – you want marketers to market, not become IT experts • Try to link all your channels • Look for systems that help illustrate ROI © 2009 All rights reserved. Page 20
  21. 21. NetProspex Offer for Webinar Participants • Free Trial Account & List of 100 Targeted Prospects • By Job Title / Geo / Industry • Includes Phone & Email Contact: Mark Feldman – © 2009 All rights reserved. Page 21
  22. 22. Questions? Chris Bucholtz, Editor Mark Feldman, Director of Product Management © 2009 All rights reserved. Page 22