For a CRM system to deliver on its many promises – says Mike Richardson (pictured) – it has to closely reflect the shape and needs of a particular business. This means that, among the myriad options provided by a wealth of independent vendors, it is increasingly difficult to choose the right one.
Mobile technology is the enabler that allows organisations to meet the expectations of their customers and generate new business.
At the same time, it has raised customers’ expectations of how companies should communicate with them, making it essential for businesses to harness online data effectively.
The importance of CRM platforms in this process continues to grow, giving organisations an unheard of power by making it possible to connect marketing and sales endeavours in a closed loop of information, making one indispensable to the other and both more effective than ever before.
The sales team receives an overview of the level of qualification reached before they contact a lead, automatically assigning prospects to the right salesperson while the entire sales cycle can be tracked through the CRM system, enabling marketers – and management – to measure the Return on Investment (ROI) of campaigns in real time.
Compiling reports can also be highly automated, enabling sales, marketing and customer service personnel to devote more time to building relationships with customers.
The functionalities and options when it comes to CRM are plentiful. Follow the tips below before plumping for a platform and be well placed to make an informed decision.
First things first
Cliché it may be, but your priority should be to determine your company’s requirements. Which departments need to use a CRM and how many users are there likely to be? For companies intending to use their CRM primarily as a sales tool, a simple out-of-the-box deployment only accessible by sales, marketing and customer service is likely to be more than adequate. However, if it is probable that you will require extensibility to other business departments, check with potential vendors whether such options are available.
Another area to investigate is the possibility of integration with software already in place. An investment bank is likely to need a complex, tailor-made solution with customised forms and connectivity with various external systems, while a small family-run business can make do without such complexity and the associated costs.
A consideration of how the system will be deployed and used will have a direct impact on the next question: whether to plump for a cloud or an on-premise solution. The latter might be a good option for companies concerned with data security or willing to pay more up front to avoid greater total cost of ownership later. However, a start-up without a big budget might opt for a cloud-based solution, as the initial cost is much lower. On the flip-side, the cloud allows for greater flexibility relating to the number of users. Therefore, if you have a seasonal or wavering number of employees, a cloud solution may be preferable.
Make it mobile
In the times of 24/7 mobile accessibility, the effectiveness of a CRM system is significantly diminished if the data it holds is accessible only from one location.
Mobility is the buzzword of today, but not every business requires the same level of mobile access. A certain degree of mobile accessibility usually has a positive impact on sales, customer service and productivity, as effectively released from their desks, employees can make the most of their time. With so many professionals working on the move, businesses need to ensure staff have all the necessary information to hand wherever they are, particularly if meeting with a client or a prospective customer, where the ability to view all correspondence will help identify sales opportunities.
Assess the level of required mobility further with the following questions: do you encourage home-working? Does the system need to be updated in real-time and would the company benefit if managers could control it anytime, anywhere?
Make it social
If tools such as LinkedIn figure high in your businesses’ operations, integrating them with your CRM will gain you a competitive edge. With more customers staying connected at all times via social media, great volumes of data are being generated at high speed. This data has to be constantly aggregated from various outputs and fed into a system to inform your direct marketing. Additional fields and connectivity through links are a must to make your CRM truly social.
Unfortunately, there is no one-size-fits-all answer as to what type of a solution will be best for any given organisation and, even if a company follows these guidelines for a contextualised analysis of its CRM requirements, the work is not yet over.
As your business grows and matures, its CRM system must follow suit and this means constant performance assessments, ongoing adjustments and staff training. Looking for new areas in which the platform can be used is ever important.
Mike Richardson is managing director – EMEA, Maximizer Software.
