How To Develop a CRM Strategy

Why Develop a CRM Strategy

Customers are central to everything you do in your business, but if you don’t have a strategic plan in place for everyone in your organization to connect with your clients, you’re missing a critical opportunity. If you’ve made the move to invest in a customer relationship management (CRM) system, you’re definitely ahead of the game – but it’s only the first step. You need a CRM strategy to tie it all together and ensure success. 

More than ever, the customer lifecycle has become more circular than linear, with buyers regularly bouncing between your marketing, sales, and customer service teams. Once you’ve implemented CRM technology, all of these teams have a way to access critical information about each customer, including the products they’ve purchased, service tickets opened, etc. In the current environment, more and more customers expect tailored solutions that meet their unique, individual needs, and your CRM system can help your business deliver that – but not without an overarching strategy. So, where do you start? Once again, it’s a circular process, but one that’s well worth your time.

Step 1: Define success

It’s hard to track progress without a roadmap, so taking a step back to assess how you define success will help you determine what’s most important to your business. Convene your leadership team and ask some soul-searching questions.

  • What does your business look like five or ten years from now in a perfect world?
  • What are your expected growth engines?
  • Who is your target customer? What do they demand from you?
  • Will client retention overtake prospecting in importance?
  • How will your business shift and adapt as a result?

All of these answers will help you shape a vision for your company’s future – and what it will take to achieve it.

Step 2: Determine the most important metrics

We’ve all heard of KPIs or key performance indicators. However, they shouldn’t all share equal importance. Take a moment to think about your core customer base. Are they avid users of social media? Do they listen to the opinions of influencers? Are they consumers of thought-leadership content in your industry? All of these questions lend themselves to answers that will lead you to the best metrics to measure the success of your business. And keep in mind SMART (Specific, Measurable, Achievable, Relevant, and Time-bound) goals – for example, one of your SMART goals might be to increase marketing email open rates by 10% before year-end. Try to determine the goals that seem most relevant to your organization and your target customer and use those guardrails to determine your big-picture goals.

Step 3: Gather the right data

Tap into the appropriate tools to ensure you have all the right information to assess your progress. Revenue Ops LLC can help you do this based on your unique goals and KPIs as well as your CRM system. Existing technology can help you more accurately measure the success of your email campaigns, your targeted customer outreach, and your client contacts. However, this can quickly turn into a jumble of meaningless numbers when you don’t understand how to prioritize the data and align it with your organizational goals.

Successful CRM Strategy

Step 4: Deliver to your customers

If you use Facebook or Instagram, you’re well aware of the power of personalized advertising. Have you ever thought to yourself, “How did my social-media platform know I was looking for exactly what their ad just delivered to my page?” Aside from suspecting the eavesdropping Alexa device in our homes, the truth is that we as consumers are increasingly expecting a more customized experience from advertising. So you’ll need to use the data you’re gathering in your CRM to gain a clear picture of your customers and their expectations – and a much better understanding of how to service them. 

Step 5: Get feedback

Surprisingly, one often-overlooked element of a CRM strategy is collecting real-time feedback from your customers and prospects. Consider using tools ranging from quick surveys to phone interviews to glean more information about customer satisfaction and awareness of their needs and perceptions. All of this information is critical for informing your teams and your CRM technology about how to measure client satisfaction (and likely retention)!

Step 6: Track your performance

Take the feedback from your research and technology and apply it to the goals you set in Steps 1 and 2. Remember that these data points at any given moment are simply snapshots in the bigger picture. You’ll need to collect this information over time to get a truly accurate view of your progress and strategic success. 

Step 7: Share your information

The data you’re gathering is so important – don’t forget to share it with key people across your organization. Your colleagues in marketing, sales, customer service, and even leadership will have ideas on improving the metrics going forward. Be generous in sharing the information and don’t discount the input provided by all of the stakeholders in your organization. Some of the best ideas are those that bubble up from the least-expected places.

Step 8: Strategize again

While all of the steps outlined here are important for your overall success, a great strategy isn’t created in a vacuum. Instead, it relies on consistent input and evaluation. So, at regular intervals, take a step back, assess your metrics and your progress, and gather input from stakeholders across your business. Although the strategy is a critical component of any successful business, it’s a living, breathing entity that needs your constant attention, assessment, and re-evaluation to be truly effective. 

Would you like some help with creating or evolving your CRM strategy? Schedule your free consultation to see how Revenue Ops LLC can help you improve your customer relationships today using tools like Salesforce. We help businesses like yours increase revenue by enhancing technology, improving processes, and optimizing reports and dashboards so that you can make data-driven decisions to drive your business forward

The Key To Revenue Optimization Is Your CRM System

The Key To Revenue Optimization Is Your CRM System

A Guide to Achieving Better Relationships and Interactions

Are you a business owner who spends more time on menial tasks than on initiatives directly related to revenue optimization, such as customer relationship management? Do you feel like you’re spinning wheels trying to increase revenue by creating more products?

What if there was a way you could get off that treadmill? And instead, maximize your revenue by optimizing your business processes and tech stack so you can better connect with your current customer base.

We call this working smarter, and this is what revenue optimization is all about. The key you need in your toolbox to achieve this goal is a quality CRM for small business software.

Don’t worry if you don’t know what a CRM system is or how it can help you; we’ve got you covered. Keep reading to learn about optimizing your revenue streams through improved customer relationships.

What Is A CRM System?

A quality customer relationship management (CRM) system can revolutionize the way you do business. Historically, the buyer’s journey was conceptualized as a linear process. Customers moved from marketing to sales and finally over to customer service.

However, in today’s business landscape, customers move back and forth between your teams regularly. And because of that, your teams need to communicate seamlessly to give your customers the best experience possible. Ideally, one that imprints a lasting, positive impression.

The customer lifecycle is now much more intertwined and less linear than ever before. With a fully integrated tech stack that allows all teams to access the CRM, everyone can see data they need on a customer’s profile, regardless of where the prospects are in the buying process.

This is where a cloud-based CRM can revolutionize the way you do business by allowing everyone on your team the ability to offer informed advice to your prospects and clients. Your team can see at a glance what products each customer has purchased and any previous customer service tickets opened, leading to a more personalized experience and increased sales and customer loyalty.

How CRM Can Help Your Business Improve Customer Service

Customers have spoken. And they want better customer service from the businesses they choose to support. And, more importantly, service is a significant factor in their final purchase decisions.

So, don’t put off improving your customer relationship management system for your business any longer. Improve the relationship you build with your customers. Then you’ll improve not only your customer service but also your bottom line.

Don’t discount your prices in an attempt to bring back repeat customers. They represent your warmest audience as they’ve already purchased from you before. Instead, give them an amazing experience, and they’ll pay top dollar to come back for more.

As you build out the story for your ideal buyer’s journey, consider how important the last phase is. This is why customer lifecycle optimization can improve your customer relationship.

You spend countless hours and hundreds of dollars acquiring new leads every month. Don’t waste that time and money by neglecting new customers after they purchase from you. Each time a customer reaches out to your organization, the person they talk to needs to see all their other touchpoints to service them efficiently.

By offering this individualized customer service, you can stand out from the crowd in your industry. When others aren’t going the extra mile in customer service, you can offer world-class service and a more personalized experience for your customers.

Offer exceptional service post-sale, and you’ll build a reputation that will increase revenue and your customer base. You can do this seamlessly because everyone on your team can access every client’s profile and information.

How CRM Improves Your Revenue Optimization

At the heart of every business is revenue generation. You’re always looking for more ways to increase sales and profits. But what if you instead looked at how to optimize your current sales and marketing tech stack to increase revenue?

By using a centralized program amongst all your revenue departments, you break down the silos. You can increase revenue with the products and customers you already have.

Now your sales operations team can provide valuable information to your customer service team, and vice versa. Break down the walls and open up communication.

If you’re not sure you’re maximizing the profit potential from your current CRM system, then you should reach out to a professional. Don’t keep wondering if your sales figures could be higher without creating new products, hiring more salespeople, or running more ads. Instead, take the data from your integrated tech stack and create reports and dashboards that will allow you to make data-driven decisions for your business.

With the right system in place, you can increase your revenue without increasing capacity. Don’t leave any untapped potential on the table. Now is the time to optimize your capacity so you can grow your business. Seek help from certified experts who can show you how to make the most of your CRM system to increase your revenue.

Grow Your Business by Growing Your Relationships

You know you should put your customers first. But it can be hard when you’re running your business; the details easily slip your mind when dealing with day-to-day tasks. This is why systems and processes are vital to your success.

Create a system that involves an all-encompassing customer relationship management program. A CRM for small business can revolutionize how you do business and improve your revenue optimization today.

Schedule your free consultation to see how Revenue Ops LLC can help you improve your customer relationships today using tools like Salesforce. We help businesses like yours increase revenue by enhancing technology, improving processes, and optimizing reports and dashboards so that you can make data-driven decisions to drive your business forward.