How do you know you are capitalizing on every lead generated by your marketing efforts? Put another way, how do you know that every lead given to your sales team has been contacted quickly and is completely pursued?
Forbes commissioned a study to find out the answer to this question. They tested over 10,000 companies by filling out a lead form using a real phone number or a real email account. What Forbes found was astounding:
- 35% to 65% of leads were never contacted. They were just ignored
- It took almost 47 hours for a salesperson to pick up the phone and try to make contact.
- Sales reps averaged 1.3 attempts to contact a lead before giving up
- Only 27% of the leads were actually contacted
If the results of this study are similar to what you are seeing in your business, a customer relationship management or CRM system can help. CRM business rules and workflows ensure that sure every lead is assigned to the best sales person for that buyers needs. It makes certain that a lead isn’t contacted 1 time and forgotten by alerting the right people in your organization. CRM Insights and predictive analytics arm salespeople with data and information that enables meaningful conversations that build report and trust with a prospective client.
With a combination of awareness, best practices and technology businesses should see an increase in the number of leads contacted rise from 27% to 92%.
If you want to learn more about how a CRM solution from Rand Group can improve your business, visit our website at software as promised dot com.
Hello, Kevin De Pree Vice President of Rand Group’s CRM Center of Excellence here to ask you business leaders another question, are you giving your clients a reason to stay loyal?
Attitude and emotion drive client loyalty. Most account executives, the people responsible for managing existing clients can answer the who, what, when, where and how of a client relationship but very few can answer the “why.” Why do clients do business with you over your competition. The answer is simple, It’s because they feel valued, protected or informed. These why’s have a huge impact on client loyalty. Research shows that 60% of clients leave you for your competition because of perceived indifference on your part. They think you don’t care about them.
A CRM solution can help. Using predictive analytics CRM can identify clients that haven’t been contacted recently by an account executive. All of the warning indicators that gets your spidy senses tingling can be managed using technology rather than your memory. It can analyze buying patterns to identify cross and upselling opportunities that deepen relationships. It can monitor social and other media to see what your clients are saying about your business and its products and task the right people to reach out to correct negative opinions or promote positive ones. These are just a few examples of how CRM helps build client loyalty.
Studies have shown that If you raise your business’ client retention rate by just 5%, it correlates to profit increases of 25 to 95%. If you are ready to increase client loyalty and realize higher profitability, visit the Rand Group website at software as promised dot com.
Hello, Kevin De Pree Vice President of Rand Group’s CRM Center of Excellence here to ask you business leaders another question, are you maximizing sales opportunities?
Sir Francis Bacon is attributed to the phrase “knowledge is power.” The more you know about your prospects, your customers, your competition gives you power. Imagine having the ability to identify new sales opportunities for your business based on type of company a prospect is by comparing what other clients have bought from you that are in the same line of business. I know your saying, of course I could do that. I could look up the SIC codes of these companies and have accounting send me a spreadsheet of what we sold to our other clients and then I could give them a call. Well if you saw one of my other videos on capitalizing on leads, you know that taking hours or days to reach out to a lead doesn’t provide a high close rate as they probably have already engaged with your competition. You need this information at your fingertips while you are on the phone with them that very first time. This improves the prospects perception of your organization, accelerates the sales cycle and produces more revenue as you are helping them to realize products or services your company provides that they didn’t even know they needed.
A CRM solution provides you with powerful insights into market segmentation, and buying predictions based on trends of that client or its peers. It increases sales by ensuring your sales team never misses out on an upsell or cross sell opportunity by having that data at the ready.
If you are ready to maximize your sales opportunities, visit the Rand Group website at softwareaspromised.com.
Sponsored in part by:
A skilled consultant and technical strategist, Kevin De Pree is the CRM Practice Lead at Rand Group, with over 24 years’ experience leading global ERP and CRM projects and teams. Kevin has a unique background in both business management and IT systems consulting and sales, which allows him to provide a holistic understanding of how different systems and processes work together. Kevin a business degree from California State University and has been an active member on Microsoft Dynamics Product Advisory Board for several years. You can learn more about Kevin HERE.