Now that your software is running smoothly and your sales team is trained, you are probably looking to maximize your investment by creating measurably positive results.
The CRM system is potentially connected to every layer of the company, including people and culture, systems and processes. For this reason, you must be prepared to manage the resulting opportunities and challenges. Because of the high level of contact with other corporate layers, it is best not to rely solely on the installation of this software to create the end results you are looking for. CRM systems increase your potential to add customer value, but the results of this implementation hinges on your effectiveness in several other areas following installation.
By approaching this in a balanced way, you ensure other aspects of your company are prepared to leverage the new capabilities. As with corporate strategy, there are multiple drivers that increase sales, profitability or any other significant metric. These have to be addressed in a balanced manner because there are always several linked factors that determine success.
What are some of these factors?
Create and clearly communicate a relationship management strategy.
* When your team understands the objectives and how you plan to accomplish them, you will increase the likelihood of success. Begin by reviewing the sales process, and the results you are currently getting. Strategy is only useful when the majority of your staff clearly understand it.
Build data input guidelines that are based on your strategy.
* What information do your people need to help them accomplish the strategy? Do this early, because waiting too long will result in a database full of inconsistent and unusable data. (GI/GO) Once your employees understand the objectives and data input guidelines, the increased consistency will help you build customer information files that are easily understood and transferable.
* Any kind of increased accountability could result in push-back from team members. Coupling clear expectations around usage with a clear strategy will help to decrease instances of those who donâ€™t use it consistently.
Maintain clarity as you move ahead.
* If your project lacked the operational guidance of a decision committee, there may be a list of questions your team has around how to best use the tool. Maintain usage guidelines on your intranet and keep your team up to date with decisions as they are made.
Build a sales culture that supports your strategy.
* Assessment and re-shaping of the existing internal culture is a recommended part of this project. The ultimate potential of your sales force is largely governed by the internal culture. Donâ€™t underestimate the impact that a positive (or negative) culture will have on your project or corporate performance.
Create reports that support corporate and individual success.
* Building reports that are relevant and useful will help to establish the value of the system early. Reports should be created to support each level of the company, from the individual to the executive.
* Think through the performance management aspects of your employee reports early. Reports always generate behaviors, so create reports that generate the behaviors you want. If there are points on the report, people will need to know what it means to them. For example: If you want a high degree of cooperation in the sales process, increase the value of sales points given for referrals made.
Feed your marketing strategy.
* Youâ€™ve always wanted to know who those customers are, be able to create customer segments accurately, or target a specific group through online campaigns. Use the information now available to build more intelligent sales campaigns.
* A true CRM system includes more than sales force automation (ACE). Software solutions like Cognito provide the high level perspective you can use to feed processes like customer benefit segmentation, and make the right decisions around sales campaign targeting and product development.
Leverage the technology to build value at the customer level.
* One of the ultimate opportunities for this type of system is to strengthen your relationship with the customer. By leveraging this technology in the interest of creating real customer value, you will increase customer loyalty, which is the most critical goal of every credit union.
By recognizing and addressing the multiple factors that determine the success of your retail strategy, you will begin to see the true potential of your organization realized in your culture and on the balance sheet.