A customer relationship management (CRM) system and the data it collates are powerful tools to have at your disposal. These three strategies reveal an implementation pathway to generate revenue so that, in time, the system pays for itself.
The formula is simple - increased sales lead to increase revenue.
First, allow yourself to consciously acknowledge that truth. Next, drive the point home to the entire leadership team, particularly every individual who is involved - directly or indirectly - in sales. This removes any doubt as to the company's objectives when it invested in the CRM system. It herds everyone onto a unified path with the same goals from the outset.
This is particularly important for the sales team because it will keep them from being distracted into focusing on administrative reporting. Instead, reinforce how the system is geared to helping them sell more, understand and improve their sales cycles, and appreciate the intricacies of the sales environment. Once the sales team is on board with this revised CRM policy, they will deliver on the first step towards increasing revenue, which is streamlining the sales flow.
Marketing and sales are inextricably linked and produce the best results when they work in harmony. However, whenever two teams work interdependently, there is a reasonable chance that the responsibility for failure on one side is heaped onto the other. It is almost a cliche that marketing teams accuse the sales teams of squandering the promising leads they deliver, while the sales teams argue that the leads were inferior to begin with.
The solution is simple - have them collaborate on identifying leads from the very beginning. Encourage continued interaction as the sales cycle develops and their assessments go through a process of correction, an inherent part of any transition from conference room planning to real world action. Fluid collaboration between these two interdependent teams will establish a mutual appreciation of the numerous challenges each faces.
Leadership can fundamentally change the direction of any company initiative.
Delve into any organizational failure and a clear trend emerges - repeated shortcomings by management to recognize and rectify early indicators. Your position gives you greater oversight of the effects of your CRM strategies and the larger trends in play. Use the right metrics to pivot away from less promising pathways and maneuver towards those with greater potential.
Share this course correction with your sales team and reveal the rationale behind your actions. Not only does this put everyone on the same page with the new and improved strategy, it also provides potential leaders within the team a positive example to follow for future success.