What is important to keep in mind is that the CRM is simply a tool to help facilitate these improvements; it is not the end goal. In the end, it is not about the technology being used; it is really just the catalyst for change. In this article, I will describe three ways that you can use the CRM to generate more revenue:
Change Your Approach to Revenue Generation
From marketing to sales, customer service and product development, all Revenue Generation Team members are united under the goal of driving revenue. The entire team has a view of marketing campaigns, leads generated, opportunities in the pipeline, outstanding customer service cases and the activities being completed to win the business and solve customer challenges. Change the culture of company – show the team how to keep the ball moving forward rather than simply having something to get through the next revenue review meeting with.
Get the Whole Revenue Generation Team Working Together to Create Revenue
Help your teams collaborate to drive revenue. Marketing works with sales to ensure that marketing activities and campaigns generate the right kinds of leads. The Revenue Generation Team has a 360 degree view of the customer relationship. They work together to expand the company’s beachhead within the account. Line managers leverage their relationships and knowledge of customer challenges to create opportunities. The entire team understands that their activities and the timely information they provide can generate potential opportunities that sales qualifies and closes.
CEO’s Have Information to Better Run the Company
Help the CEO determine if money is well spent. Dashboards show the CEO what marketing activities contribute the most revenue and best leads; performance metrics show which employees make the most money for the company. CRM tools help manage the revenue pipeline – its value, the chances of winning and where you have to improve to win. They also manage the bidding process-how far are you along; what tasks are left to do and who is doing them.
A common question that is asked when evaluating an opportunity is how close is your relationship to the customer. Sales often believes they are very close to the customer, the program managers and key decision makers. CEOs can review the customer relationship- cases that are open and resolved, how many meetings over the past year they have had with the customer, and the result of those meetings. Effective use of the CRM provides the CEO with the information to determine if the relationship is where it should be to win the business.
The revenue generation engagement works with the CEO to establish a mindset in the Revenue Generation Team that it’s all about driving growth. Continuous engagement, a tightly defined CRM curriculum, facilitating team revenue review meetings that find the best path to revenue and holding performance reviews that focus on improving the Revenue Generation Team generate more revenue and in larger chunks.