crm: a business imperative for companies during the global economic downturn
DESCRIPTION
CRM: A Business Imperative for Companies during the Global Economic Downturn Companies that invest wisely in information technology will reap the rewardsImplementing CRM will enable you to:Increase revenue-generating activitiesAchieve significant cost-savings and on-going productivity improvementsDeliver exceptional and personalised serviceTRANSCRIPT
CRM: A Business Imperative for Companies during the Global Economic Downturn
Mr. Navik NumsiangManaging DirectorSundae Solutions Co., [email protected]
Situation
Companies facing the toughest economic conditions in several generations
Businesses have seen a rapid deterioration in their operational cashflows
Instinctive reaction to cut all strategic projects and wait until things improve
However, this could prove more detrimental in the long-termCompanies that invest wisely in information technology will reap the rewards
Implementing CRM will enable you to:Increase revenue-generating activitiesAchieve significant cost-savings and on-going productivity improvementsDeliver exceptional and personalised service
Why CRM?
CRM is a business strategy designed tooptimise profitability,
revenue and customer satisfaction
Gartner
Management Tools & Trends 2009 by Bain & Co.
Why CRM?
Helps protect revenue streams from your current customers
Provides you with a 360 degree view of customer interaction across sales, marketing, service and finance functions
CRM is a business strategy designed tooptimise profitability,
revenue and customer satisfaction
Gartner
5
360 Degree Customer View
• Sage CRM provides real 360 degree visibility on customers across sales, marketing, customer service and accounts.
• For each individual customer, users have instant access to areas such as:
• Opportunities• Communications• Cases• Invoices
Drill-down to underlying
opportunity
Drill-down to underlying
communication
Drill-down to underlying
case
Drill-down to underlying Invoice*
Why CRM?
Helps protect revenue streams from your current customers
Provides you with a 360 degree view of customer interaction across sales, marketing, service and finance functions
Enables you to unearth latent revenue opportunities
Equips your sales team to deliver highly focussed business development programmes
Replaces sporadic interaction with true customer lifecycle management
CRM is a business strategy designed tooptimise profitability,
revenue and customer satisfaction
Gartner
CRM and Your Customer Base
CRM enables you to grow revenue with existing customers by:
Understanding true cross- and up-sell opportunities maximising profitability of every customer relationship
Delivering highly targeted marketing messages to specific customers or customer segments dramatically reducing cost per lead
Reducing amount of time and cost it takes to resolve service issues without compromising exceptional service experience keeping your customers loyal
Empowering customer-facing staff while retaining control over headline resource, performance and budget management
CRM and New Business Development
CRM enables you to capture and develop new business at a lower cost by:-
Achieving operational efficiency within sales and marketing functions
Sales team are focussed on opportunities most likely to close
Delivering highly targeted marketing messages to specific prospects or market segments to dramatically reduce cost-per-lead
Introducing marketing accountability to ensure you are achieving right level of return form your marketing spend
Stripping manual administration – less paperwork, errors, repetition and cost
Empowering customer-facing staff while retaining control over headline resource, performance and budget management
Why Now?
“We are at an extraordinary period of history. It is a time of crisis and unprecedented uncertainty, even fear; but it is also a time of opportunity
for change and profound transformation.”
Klaus Schwab, Chairman, World Economic Forum
2009
Why Now?
Your customers and potential customers facing identical cost pressures
Their purchasing behaviour has changed;
Spending less but looking for more value for money
Far more discerning about potential purchases and suppliers
You will need to work harder and smarter to increase revenues
Biggest mistake would be to ‘sit back’ and do nothing
“We are at an extraordinary period of history. It is a time of crisis and unprecedented uncertainty, even fear; but it is also a time of opportunity
for change and profound transformation.”
Klaus Schwab, Chairman, World Economic Forum
2009
Actual Cost of Doing NothingExample Cost
A sales executive spends 6 weeks closing a 50,000 Baht opportunity with a new customer rather than spending 2 weeks closing a similar opportunity with an existing customer
100,000 Baht opportunity cost
A sales executive with a base salary of 300,000 Baht per year spends 10 hours per week on sales administration
75,000 Baht direct salary cost per yr
A sales executive focuses exclusively on a large but poorly-qualified opportunity worth 500,000 Baht rather than pursuing three 60,000 deals with a far higher likelihood of closing
180,000 Baht opportunity cost
At a company with 1,000 customers on 10,000 Baht per year service contracts, a 30% increase in call queuing time translates into a 15% increase in non-renewal of service contracts the following year
1,500,000 Baht in lost revenues
At a company, 25% of customer support requests; equating to 2 FTEs earning 150,000 Baht each per year, could be handled on a self-service basis over the web
300,000 Baht direct salary cost
At a company where an average deal is worth 35,000 Baht and the sales team closes one-in-five leads, lower than anticipated demand generated by traditional marketing activities translates into a 30% net decrease in inbound sales enquiries from 80 per month to only 56 per month
2.02m Baht in lost revenues over the year
Actual Cost of Doing Nothing
Example 1:A sales executive spends 6 weeks closing a 500,000 Baht opportunity with a new customer rather than spending 2 weeks closing a similar opportunity with an existing customer
1,000,000 Baht opportunity cost
Example 2:A sales executive with a base salary of 300,000 Baht per year spends 10 hours per week on sales administration
75,000 Baht direct salary cost per yr
Example 3:A sales executive focuses exclusively on a large but poorly-qualified opportunity worth 5,000,000 Baht rather than pursuing three 600,000 Baht deals with a far higher likelihood of closing
1,800,000 Baht opportunity cost
Example 4:At a company with 1,000 customers on 10,000 Baht per year service contracts, a 30% increase in call queuing time translates into a 15% increase in non-renewal of service contracts the following year
1,500,000 Baht in lost revenues
Example 5:At a company, 25% of customer support requests; equating to 2 FTEs earning 150,000 Baht each per year, could be handled on a self-service basis over the web
300,000 direct salary cost
Example 6:At a company where an average deal is worth 35,000 Baht and the sales team closes one-in-five leads, lower than anticipated demand generated by traditional marketing activities translates into a 30% net decrease in inbound sales enquiries from 80 per month to only 56 per month
2.02m Baht in lost revenues over the year
Business Impact of Inaction
Issues How CRM can Help Difficulty identifying quick win, cross-sell and up-
sell opportunities within your current customer base Enables you to leverage further revenue
opportunities within your current customer base
Lower yields from traditional marketing activities and fewer inbound leads
Ensures your sales, marketing and customer services resources are being used to max effect
Lower lead-to-opportunity conversion Reduces your opportunity cost
Fewer sales opportunities in the pipeline Reduces your cost-of-sale
Too much time spent on poorly-qualified opportunities
Reduces the cost of your marketing leads
Lower sales conversion rates Ensures your meet your customer SLAs
Inaccurate forecasting Minimises administration costs
Too much time spent on administration Protects and grows your revenues
Limited visibility on real-time performance of sales, marketing and customer service functions
Enables you to pinpoint underlying issues and take corrective action accordingly
Shortfalls in customer service delivery Reduces potential for customer attrition
Difficulty identifying which areas of the business are in growth/decline and defining focus accordingly
Ensures that your investments are all aligned to revenue development
Prepares you for the economic recovery
How CRM Benefits Your Business?
How CRM Benefits Sales
Maximises cross- and up-sell opportunitiesImproves team collaboration on opportunities
Sales Team Empowerment
Sage CRM empowers sales staff to sell more effectively • SageCRM provides
sales staff with instant access to the tools and information they need to sell more effectively. These include:
• Customer intelligence
• Calendars• Accounts• Reports• Pipelines• Contacts• Lists• Dashboards The “Quick Look” tab provides sales staff with summary information on
communications history, active opportunities and open casesThe “Calendar” tab provides sales staff with a unified view of upcoming activities and tasks which can be viewed by day, week, month and due-date
The “Invoice”* tab provides sales staff with an overview of the transaction history of their customers along with drill-down to the underlying invoiceSales representatives and sales managers can generate sales performance reports in a few simple stepsThe “Opportunities” tab presents sales representatives and sales managers with a unified view of all current opportunities by value and stageMultiple contacts can be captured, accessed and managed for each company or sales opportunitySales lists can be defined according to multiple criteria, and can be maintained as static or dynamic groups for on-going sales activities
Dashboards provide sales representatives and managers with a single view of key sales information and performance data
Opportunity Management
Opportunity Workflow Improves win rates
How CRM Benefits Sales
Maximises cross- and up-sell opportunitiesImproves team collaboration on opportunitiesImproves prospect targeting
Lead Management
Sage CRM ensures that all leads are captured, allocated and progressed
• SageCRM workflow manages leads seamlessly from capture to opportunity conversion
• Leads can be rated, reassigned, edited or converted to an opportunity, and call-backs can be scheduled with ease
• A full lead audit trail is provided throughout and dashboards ensure transparency
How CRM Benefits Sales
Maximises cross- and up-sell opportunitiesImproves team collaboration on opportunitiesImproves prospect targetingIncreases revenue yield per opportunity and accountProvides real-time visibility on sales KPIs
How CRM Benefits Sales
Shortens sales cycles
Reduces sales training costs
Decreases time spent on administrative tasks
Maximises cross- and up-sell opportunitiesImproves team collaboration on opportunitiesImproves prospect targetingIncreases revenue yield per opportunity and accountProvides real-time visibility on sales KPIsImproves win rates
Back Office Integration
Extensive Workflow
Sales Mobility
How CRM Benefits Sales
Shortens sales cycles
Reduces sales training costs
Decreases time spent on administrative tasks
Reduces sales forecast variance
Maximises cross- and up-sell opportunitiesImproves team collaboration on opportunitiesImproves prospect targetingIncreases revenue yield per opportunity and accountProvides real-time visibility on sales KPIsImproves win rates
Sales Forecasting
Sage CRM makes sales forecasting easy • Forecast information is
automatically consolidated from the sales pipeline
• Individual opportunities can be excluded where necessary
• Sales managers can automatically consolidate the individual forecasts of members of their team
How CRM Benefits Marketing
Enables marketing programmes to be planned more efficiently and effectively
Improves campaign response rates
Enables accurate measurement of marketing campaign RoI
Campaign Management
SageCRM enables multi-wave marketing activity with full resource management • Project manage the
execution of marketing campaigns across multiple channels and multiple resources
• Full drill-down to underlying waves, wave activities, resources and budgets
• Leads are automatically associated back to their originating campaign
Marketing Campaign Report
SageCRM provides comprehensive outbound call management facilities • SageCRM provides for
the full definition of call scripts, daily calling targets and calling teams
• Scripts can incorporate drop-down and free-text boxes for information capture, and can follow dynamic routing according to particular responses
• SageCRM also
supports CTI
Outbound Call Management
How CRM Benefits Marketing
Enables marketing programmes to be planned more efficiently and effectively
Improves campaign response rates
Enables accurate measurement of marketing campaign RoI
Ensures customers and prospects receives the right marketing message at the right time
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SageCRM enables marketing staff to create and manage marketing lists effectively • SageCRM equips
marketing staff with the tools to target the right companies at the right time, eliminating guesswork and optimizing marketing spend
• Marketing lists can be defined using simple or complex queries, and can be based on transaction history if necessary
• Specific response types automatically generate new lists for follow on activities
Segmentation Management
E-Marketing
SageCRM provides for intelligent E-Marketing solution • Sage CRM allows you to
do electronic marketing including
• Email marketing• Landing zone• Web links• Online Survey
• All e-marketing communication for each customer tracked by Sage CRM including
• Bounce emails• Email open• Survey• Landing zone
British Council - Visitor Registration
Visitors register their details on the website
British Council users use the full range of Sage CRM tools for managing this data and producing targeted marketing
Contact information and details of their interests is saved directly to Sage CRM Company and Person records
How CRM Benefits Marketing
Enables marketing programmes to be planned more efficiently and effectively
Improves campaign response rates
Enables accurate measurement of marketing campaign RoI
Ensures customers and prospects receives the right marketing message at the right time
Reduces marketing administrative overhead and enables marketing budget to be tracked and managedDecreases the cost per customer acquiredReduces marketing campaign lead timesReduces cost per lead
How CRM Benefits Customer Service
Provides web self-service
The SageCRM Self Service Portal allows customer to access CRM functionality over the web
• SageCRM enables customers to securely access CRM functionality over-the-web through the product’s self-service functionality
• Customers can log new support issues and can also review the status of their open cases
• Where appropriate, customers can also access account details
Customer Self Service
How CRM Benefits Customer Service
Provides web self-service
Increases productivity of agents
SageCRM provides real-time customer service visibility and workflow • Customer Service staff
benefit from complete visibility on customer interaction including sales, marketing & finance
• Workflow automation ensures that service issues meet service level obligations and are progressed to satisfactory resolution on a timely and efficient basis
Enhanced Customer Visibility with Extensive Workflow
How CRM Benefits Customer Service
Provides web self-service
Increases productivity of agents
Ensures issues never “get lost between the cracks”
SageCRM provides real-time monitoring of SLAs • Customer Service staff
benefit from real-time visibility on service level performance by customer case
• Full drill-down is provided to the underlying case details across multiple tabs
Traffic Light Monitoring of Cases
How CRM Benefits Customer Service
Provides web self-service
Increases productivity of agents
Ensures issues never “get lost between the cracks”
Enables agents to capture further sales leads from customer interactions
How CRM Benefits Customer Service
Provides web self-service
Increases productivity of agents
Ensures issues never “get lost between the cracks”
Enables agents to capture further sales leads from customer interactions
Improves response times to customer service requests
Increases customer retention
Reduces customer support costsReduces the average time to resolve an issue
Avis Customer Care
• Customer Resolution Time Has Reduced by 2.82 Days and Within SLA
• Productivity Gains of 6% with 7% Less FTE
• Reduction of 4% to Incoming Call Abandon Rate
• Average Cost of Adjustment Reduced by 16%
• More Satisfying Customer Experience
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Knowledge Base
Centrally store and share customer service knowledge and solutions • SageCRM enables
customer service agents to document, store and share solutions to common issues using the product’s knowledge base
• All potential solutions follow approval workflow before publication
• Once published, all solutions are fully searchable
How CRM Benefits Customer Service
Provides web self-service
Increases productivity of agents
Ensures issues never “get lost between the cracks”
Enables agents to capture further sales leads from customer interactions
Improves response times to customer service requests
Increases customer retention
Reduces customer support costsReduces the average time to resolve an issueDecreases the number of customer cases that are re-openedDecreases the number of customer service escalations
Summary
You will have…• A single view of their customers• Reduced inefficiency• Improved cross-sell and up-sell opportunities• Better marketing insights• Improved visibility of operations• Higher customer retention
What is your CRM Strategy?
Thanks You
Mr. Navik NumsiangManaging DirectorSundae Solutions Co., [email protected]
Most of presentation material from Sage CRM Solutions