Using a CRM To Transform Data Into Gold

Management recognizes the power of capturing metrics on activities that occur during those stages wherein their Business Development teams are turning a Prospect into a Client.  They use the CRM to measure and drive activities.  Then analyze the key performance indicators, (KPI’s), that appear to result in success.  This helps in defining the “Best Practices” which they then instill in hopes of increasing revenues.

However, the most successful CRM implementations strategically identify Contacts, Companies, Verticals, Products, Services, Size by Revenue achieved and Revenue potential prior to rolling it out to their employees.  Another nuance seldom addressed is target Networks.  Why go to the expense of providing a tool like a CRM and not lay the foundation to fully exploit it?

Most implementations simply sell you Data Migration as part of the process.  They format, rid duplications and map the data into the CRM.  So what action turns that data into gold?  We offer Data Foundation Planning so all of your Users can hit the ground running.  Categorizing key Contacts, Companies, and Networks in advance so that your Users can have refined lists already organized and at their fingertips also enhances User Adoption.

Don’t wait for them to organize their data.  Your official Strategic Initiatives should include identifying how you are going to get a deeper penetration of current clients and acquire new ones.  Set the standards in advance.  Define Categories specific to your use case.  The first day you introduce your Sales, Customer Service, Project Managers and Engineers to the CRM, the data should already be refined to reflect your targets, networks, partners and other various key players.

Further, Silos don’t allow for efficient use of Intel nor the ability to immediately respond to a prospect or client.  A well organized central database enables the immediate identification of the entire relationship someone has with your company.  Your Users should see everyone and every department that may already be involved in activities surrounding that individual, company, opportunity or project.  A caller shouldn’t have to provide more than their name or that of their company.  Knowing the rest is the best way to impress.

This exercise also elevates Rotation strategies.  A standard for identifying prospects and clients by Revenue and Potential Revenue will have already been established and those categories enable prioritization of whom they spend their time with.  Make no mistake.  TIME is their number one commodity.  Identifying your targets and then using that priority in laying out the most effective rotation according to cycles and geographic location has a monumental impact.

Having the CRM customized as an intuitive extension of Best Practices is only part of the equation.  Having your data refined and presented in a manner that reflects your strategic initiatives and the specific role executing against that data completes that equation.  Give me a call.  We can discuss your specific use case and show you how to mine YOUR POT OF GOLD!

Kaye Weese │  Sr. VP, Director of Sales & Marketing  │  (425) 457-7712  │  kayew@avidian.com