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Thursday Mar 11

Return on Investment

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The Return on Investment from CRM software comes from having a single view for all data related to each customer and automated alerts and automated best-practice processes. ROI in a CRM implementation is a reality, and can be achieved providing the organization approaches CRM as a business strategy (incorporating culture, process and technology) rather than a software implementation (see Detailed Needs Analysis). Some examples of ways CRM can help an organization are listed below.

Sales:

  • Provides greater visibility into the sales pipeline
  • More efficient and accurate reporting on sales pipeline
  • Better track probability of close, products, lead source, status and competitors
  • Eliminate the need to browse for exceptions by automating alerts to users of exceptions (for example, quotes requiring follow-up and customers that have not ordered in xxx days)
  • Reduce attrition through automated fading customer alerts
  • Manage customer and prospect relationships from virtually anywhere via the web and wireless devices including BlackBerry and Pocket PCs
  • Increase average customer value by increasing the number and size of orders per year

Marketing:

  • Create customized marketing campaigns
  • Streamline marketing and sales campaigns
  • Better analyze ROI of marketing campaigns
  • View campaign results in real time to better analyze performance of campaigns in progress
  • Evaluate forecasted vs. actual return for each lead source, region or media type

Service:

  • Quickly resolve customer questions, issues and requests
  • Reduce cost of each customer transaction
  • Provide everyone in your company with access to the same customer data

Process:

  • Automate the sales cycle
  • Standardizes and automates processes (such as sales processes based on product line, deal size, territory or lead type)
  • Ensures that procedures and processes are being followed
  • Increasing quote conversion through automated follow-up
  • Reduce the amount of time spent to generate a quote
  • Standardization of quoting practices

Efficiency:

  • Shorten new employee ramp-up time with data visibility in one place
  • Save time by eli