Is your CRM optimized to deliver the greatest return for generating sales? If you answered no, you’re not alone. According to SAVO Group, nearly three out of four companies consider their CRM solution to be their sales process and as a result, are not optimizing their sales execution for maximum return.
Finding the Right Recipe
The results come from a live poll of 176 participants conducted during one of SAVO’s educational webinars, “The View Beyond CRM: Reimagining Your Sales Process.”
Although, 68 percent of those that have implemented a separate formal sales process did reveal an increase in revenue, 74 percent of participants reported that their CRM does not yield insight into selling behavior to drive success. What does this mean, exactly?
For SAVO it means that companies are not taking the time to refine their formal sales processes, the way a chef would tweak a recipe to be just right every time. To consistently drive sales requires having the right technology, tools and foundation in place so that you can begin to tweak changes on your front line.
Not Sweet Enough or Too Sour?
What do you have to lose by trying to find the right balance of engagement and adoption? Not much. According to the poll, more than 60 percent of respondents have not realized a positive ROI with their CRM system. If what you’re doing isn’t yielding positive results, perhaps it’s time to take a look at the current process and figure out what’s causing issues.
Don’t know where to start? SAVO Group recommends looking at your sales process from your customer’s point of view. Their TRUST model provides a good checklist against which to review your current sales process:
- Technology – the technical “fit” of your offering to your customer’s environment
- Relationship – key relationships that must be successfully engaged and nurtured
- Utility – the utility and subsequent value of your offering that enables your customers to achieve their goals
- Strategy – the strategy and tactics your selling team must develop and execute to create customer-recognized value and the urgency to take action
- Team – the ability of the team to execute strategy and establish accountability of action and achievement
Like any good recipe, your sales process needs to be revisited over time to make sure all the ingredients are up-to-date, easy to execute and provide the best quality. By incorporating these elements into your sales process, you can optimize your CRM so that it doesn’t leave a bitter taste in your mouth.