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Monthly Archives:July 2016

Visibility – The WHY That Helps Drive Your ROI

Brian Gardner No Comments

I’ve found through my talks at different meetings typically 70-80% of those in attendance are using some type of CRM within their company. And that only 10% feel they are getting ROI out of their CRM. One of the factors that lead to success is setting the stage for WHY from the beginning…including getting management buy in.
Visibility is a key component in showing “why” you’ve chosen a CRM. Think about this…we all have visibility of the back end of our sales, via the ERP we are using to quote and process our orders. BUT, do we have visibility on the Front-End? This is where the CRM tool comes in to play and it is huge in helping to manage visibility of our leads and opportunities.

One of the tools within a CRM is your dashboards and these offer outstanding visibility and help support “why” with your sales team! In my experience CRM success and visibility comes from creating a dashboard that is your leading indicator and promoting this to your sales team as such. How are you managing your business? How do you know if you are reaching your sales goals? Most companies will answer, the back-end bookings and order history data. That’s good…keep doing it, but within CRM we can create what I call Load Input Goals. That’s where we’ll set up a formula to determine what kind of input do you need to reach your sales goals. There is a formula that I use and we can imbed that into the CRM and set up a dashboard to view that.

I am a huge believer on trending input…how old is the data in our pipeline? In the dashboard example above their total pipeline $ which is great to track, but that does not tell the entire story. The opportunity input trend show how the team is performing against Load Input Goal. If you are trending below the red line (Load Input goal) this is your leading indicator for future bookings. Let the sales team manage this! In doing this, you are giving them the tool to keep their eye on the ball. I believe it’s not just about “pipeline”, it’s managing the trend for the load input goal, I think a great dash board to manage from.

New Load Input vs. Pipeline:

Pipeline is NOT the same as New Load Input!

Pipeline = Total Open Opportunities

New Load Input = NEW Opportunity identified

Need to put focus on New Load Input #’s.

Sales Goals = Base Business + (NLI x Hit Rate)

*Hit rate is the moving target. I have asked a lot in the industrial market “what do you think the it is?” and I typically get an average of 25-35% as Hit Rate. So, if you really are not sure, start with that…it’s not an exact science.

You should be getting buy in from your salesforce if you work with them to come up with the Hit Rate. By doing this, you are giving them a tool to own and grade themselves. Get the sales team involved early in this! Allow them to have visibility of their business and drive it. During an association webinar a member offered this insight, “If the CRM dashboard and measurements aren’t treated in the same respect as your operational dashboard and KPI’s on a daily, weekly, and monthly basis you will not get out of it what you could”.  I could not agree more! Visibility is a key component to success.

Be sure to visit our resources page for more information on “Load Inputs” and other valuable downloads. Sign up for our e-newsletter to receive blogs from the new series right in your inbox, and be sure to follow us on social media.

CRM is a Revenue Generator – Not a Cost

Brian Gardner No Comments

Many companies, including industrial manufacturers, distributors and representatives tend to view any kind of technology investment as a cost. Part of that stems from the need to budget the investment, which is typically done under the eye of the CFO.

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3 Steps to Better Opportunity Management

Brian Gardner No Comments

Last week, I hosted an online CRM best practices roundtable in partnership with the Measurement, Control and Automation Association (MCAA). We covered a variety of topics, but tracking opportunities on the front end of the sales cycle was a dominant theme. Below, I’ve compiled a few opportunity management tips from the session for those who weren’t able to attend this members-only roundtable.

Cover image CRM survey page

CRM Survey Now Open – Deadline Nov. 3

Brian Gardner No Comments

Some industrial sales organizations are getting great ROI on their CRM investments, while others continue to struggle. What factors separate these two groups?

To find the answer, SalesProcess360 has partnered with Modern Distribution Management to administer a short survey to distributors, manufacturers and manufacturers’ reps.

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3 Tips for Setting Up Your CRM Dashboard

Brian Gardner No Comments

Modern CRM systems collect large volumes of data that can be used to better manage people, products, business opportunities and more. Without the help of filters and views to make sense of these data, though, it would be overwhelming if not impossible to draw any useful conclusions from them. 

CRM Data Drives Better Business Decisions

Brian Gardner No Comments

Most companies – typically more than 90% of companies with CRM that I talk to during presentations and association roundtable events – don’t feel like they are getting a return on their investment in CRM.

CRM is a wonderful tool for making better business decisions

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How to Predict (and Prepare for) Sales Team Turnover

Brian Gardner No Comments

The July-August 2017 issue of Harvard Business Review reported on a new study aimed at predicting which salespeople are most likely to quit.

Dust Off Those Binders: How CRM Can Translate Training Into Action

Brian Gardner No Comments

Have you ever noticed how easy it is to get excited about sales concepts, and how hard it is to turn them into a reality? We’ve all been there. We send our sales teams to a one- or two-day class and they come home with a head full of ideas and a three-ring binder.

Start Slow: The Right Way to Set Up a Pilot of Your CRM Software

Start Slow: The Right Way to Set Up a Pilot of Your CRM Software

Brian Gardner No Comments

The implementation of a new CRM software program can feel like a full-time job. While it may be tempting to push through the implementation quickly to move on to other projects, I highly recommend you roll out your CRM project slowly and grow it from there. One great way to do this is with a pilot, but there is a wrong and a right way to conduct one.

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How to Get Executive Buy-in for Your CRM Initiative

Brian Gardner No Comments

Last month, I conducted a webinar on ROI from CRM in partnership with Modern Distribution Management (available on-demand here). Among the questions I received: “What tips do you have for bringing the executive team on board after purchase?”

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