SOEE what’s new...
Customer Relationship Management (CRM) technology enables employers to acquire and maintain critical data on both customers and potential customers (prospects). Employers can improve sales performance and customer retention to accelerate profitable revenue growth through the effective use of CRM software.
CRM technology is complex. Establishing CRM framework, process, and data relationships requires strategic planning and tactical design. Employers are challenged with maximizing the benefits of CRM and consequently become frustrated with the time and investment required. In many cases, CRM functionality does not reach the anticipated value, which impacts user adoption, and in turn erodes data integrity, analytical insights, and enterprise reporting. CRM requires focus, discipline, and consistent tactical execution to support revenue priorities and initiatives.
SOEE what’s the solution...
The key to CRM hinges on user adoption and value provided by the operating platform. Through continual enhancements and release schedules, CRM will impact business development, marketing, sales, and customer retention. Effective CRM oversight requires collaboration, dedicated resources, introduction of new use cases, and continual improvements to existing functionality.
Based on the CRM technology purchased, configuration can be extensive. In addition, system coding and development may require experienced technical resources. Technical experts must partner with end-users to align on system design. By creating a unified approach based on user requirements and feedback, CRM can be constructed to optimize analytics and improve user adoption.
CRM Data Management – Value Added:
• Accounts – capture foundational data to provide customer and prospect insights
• Contacts – align, build, and monitor ongoing marketing and relationship activity
• Leads – establish business development strategy to nurture accounts and contacts
• Opportunity – design sales, pipeline, renewal management analytics and reporting
• Product and Pricing – create visibility to product penetration and pricing margins
• Contract – provide contractual data for renewal planning, cross selling, product bundling
• Case Management – create customer experience service logs at contact and account level
• Custom – develop additional data capture and metrics to support revenue growth initiatives
SOEE what's the value...
The creation of Sales Operations, Sales Enablement, Sales Effectiveness (SOEE) performance modeling is defined through CRM technology. Adoption and value will mature as organizations invest time and resources to manage, configure, and enhance CRM functionality. The most effective CRM is built through user adoption, data management, and continual feedback to elevate analytical insights.