Why would you implement a CRM system?
There are many different views and opinions out there on what CRM is and what it is intended for. Firstly, its acronym, what does it actually stand for? Customer Relationship Management. It’s all about managing, and keeping control, of a business’ relationships with its customers. In the good old days this was easy – every business generally had personal contact with its customers. In some sectors this remains true however even in traditional businesses the business dynamic has changed. Sales reps no longer stay in the job for a lifetime, and they are now normally a member of a sales team, with a manager above. Andre in the newer style businesses, such as distributors, internet shops, green businesses, etc. where personal contact is non-existant, good information on profiling customer activities and trends is critical to sales growth. So how can CRM be used to help business?

What does a CRM system provide?
A good CRM system will provide various modules which can be enabled/disabled for certain users. You would expect to have modules for managing contacts, a separate area for leads (firms with whom we hope to do business at some point), facilities for generating marketing material (e-mail and letters), support for raising quotations, orders and invoices, and a shared calendar as a minimum. It’s important to be able to track the sales pipeline and allocate everything to an individual user. Some of the newer systems are beginning to include customer service automation as well – trouble ticketing/fault logging, follow ups and basic stock control are important for keeping customers up to date on where things are at.

What about the customer?
As with all facets of business, the customer is always of most importance. Bear in mind that a computer system is just that – it can’t forge a relationship with clients all of its own accord. It is a very useful tool for helping in the process but users must use it and remember that it is not there to do the job for them, but to help. So prior to implementing, it is a good idea to conduct a review of all customer-facing processes in the business. It should then be possible to identify areas for improvement, and how the system features can be used to this end.

So what about Marketing Automation?
This is one of the quickest immediate gains acheiveable from implementation of a CRM system. As soon as the data is cleansed and loaded, marketing can begin. But to do it right, it’s important that you target market is analysed and segmented. You can then tune the message depending on sector, region, industry, number of employees, emerging trends or a combination of these factors. This gives a a subset of the market to target at a micro level.

And the Pipeline?
By defining a number of sales stages it is possible to review on screen or paper the current status of the sales pipeline. This is a huge benefit of CRM – if the data is input correctly then it is easy to identify what’s coming down the line in terms of sales. Each potential sale should be logged as it arises and allocated to a sales stage. As negotiations evolve, the stage is updated, such that the potential value at each stage can be analysed.

What about reports?
Once the system has been running for a short while, reporting can be used to develop trend analysis and get information back from the system. Sales in a particular sector drop on Fridays. Why is that? What can we do – maybe ensure that customers/prospects in that sector are contacted every Thursday. We can also begin to focus on performance of sales reps, teams and customer service.

The above are but a few of the benefits that can be realised by implementing a well-balanced CRM system. The good news is that for most businesses, it can be a relatively painless process, provided that the steps are followed and there is a willingness to take the implementation one step at a time.

We have heard it hundreds if not thousands of times at this stage. There would appear to be general consensus amongst experts that economic recovery is on the horizon and Ireland will finally pull out of recession (at least officially) in 2010. The only point is that there does not appear to be agreement on is when exactly this will happen. However, with regard to taking advantage from a sales perspective, the most critical factor is to be ready for it when it arrives. Laying the groundwork now means that when the time comes, you’re ready for it. While it’s often said that a rising tide lifts all boats, that’s not strictly true. The ones with the holes in them go under. So what can we do to ensure maximum advantage when the tide turns? Some useful tips below.

Make sure your market knows who you are
Sounds simple doesn’t it? But if your prospects and customers don’t know you exist, they can’t contact you. Advertising budgets have been slashed, sales teams reduced so it may not seem as easy as it once was to contact your market. However it is possible at a much lower cost using direct marketing techniques – email, or direct letter advertising and/or cold calls. Plus when done correctly it has a measurable return and much higher hit rate than media advertising.

Don’t forget Customer Service
Make no mistake, your customer list is your most important asset. Treat it as such and you will likely keep the majority. Now is the time to maintain regular contact – call them, talk to them, e-mail them, write to them. If a customer complains or raises an issue, ensure that it is dealt with efficiently and quickly. Customer Service was forgotten in place of more business by many companies during the boom. Many have since been unable to resurrect the art. Set yourself aside from your competition. As we emerge from recession, value is set to over-take price as the critical factor in business decsion making. FACT – you will be valued more highly if you are known to provide better customer service.

Follow up on old customers
It might sound simple, but many just don’t do it. You had a regular customer 12 or 18 months ago, but they’ve disappeared. Contact them! Maybe the went out of business, maybe the went to a competitor. You won’t know until you try to get in touch. Often a telephone campaign targetting older customers can dig up some new business.

Segment your customer/prospect list by industry/region
If your product offering appeals to a wide range of customer profiles you need to segment your target market and deliver a specific message to each industry. For example a packaging manufacturer needs a different campaign for healthcare businesses than for example for the food processing industry. Also location can be important. There might be a specific event in a county or country. The London Olympics 2012 is an example. There is a requirement for everything from construction supplies to sportswear, they’re even predicting a surge in sales of cheap sunglasses (or maybe umbrellas!)

As we prepare to emerge from the recession which has plagued business over the past two years, there are many opportunities to take advantage of the increase in activity. Instead of being dragged into day to day survival strategies, try to make time to explore some of the areas outlined above. Here’s to success in 2010!

Customer Relationship Management (CRM) is a technology that can be readily deployed across all sectors and industries where the customer is the primary focus. There is no industry where the customer is more important than in the Motor Industry. But how can CRM help the motor industry boost sales and retain customers in these stringent times?
 

Local Direct Contact
All Motor Dealers, including main dealers for the big names can use direct marketing techniques to hone in on their local market. Most of the large manufacturers have centralised advertising and direct marketing campaigns targetting new and existing customers. However, at a local level, it’s possible to personalise the message. Target local businesses for fleet sales for example. “We’re just down the road” is seen as great benefit – if there’s a problem it can be sorted quickly and easily.
 

Partnering opportunities
Build relationships with local companies, and use the system to keep in touch. For example, a Motor Dealer might work with a preferred petrol station whose newsletter might feature the dealership. This can work both ways – discounts or vouchers for free coffees with every services.
 

Servicing
All motor dealers have access to relevant information on their customers’ motoring patterns. A client who clocks up 40,000 KM in a year needs a service every 6 months. We know this, so why not give them a reminder with a concession 5 months after the last service? Keep an eye on tyre wear and other value add items – if tyres are approaching end of life, let them know in 2 months time. If you don’t offer tyres as a service, partner with a local tyre provider. It works both ways.
 

Take advantage of emerging trends
The classic example is the introduction of a carbon tax – if it’s coming, start pushing the low emission vehicles. Who better to connect with than those who are most likely to be changing their car. Businesses on fleet arrangements, businesses with a green ethic, customers who bought a car 5 years ago who we know have not changed. You have the information, why not use it?
 

It is common knowledge that the motor industry, in Ireland and internationally, has been heavily hit by the Recession of the past couple of years. Using technology to gain the edge over the rest in this highly competitive market need not be expensive nor difficult. At www.profits.ie we offer CRM and direct marketing solutions right across the board.

The first Wicklow Business Expo took place on November 24th last. Lauded as a great success, the exhibition showcased businesses from throughout the county. Most of the exhibitors were more than pleased with the turnout and there is no doubt that there will be significant volumes of business generated as a result. Many thanks to the Wicklow Chambers who organised the event, and we’re looking forward to a repeat.

Tadhg Henderson, Charlie Melia, PROFITS.IE and Pat King, VOIPLINE.IE at Wicklow Business Expo 2009

PROFITS.IE held a free draw on the day – the prize being a free hosted CRM setup, training course and first month’s subscription. The name drawn from the hat was ABCD Engineering of Arklow, who specialise in stainless steel and aluminium sheet metal manufacturing. More information on PROFITS.IE range of business services can be found on our website at www.profits.ie

The old adage “It’s easier to sell to an existing or previous customer than to a new customer” is probably most evident of all in the hospitality industry. If a hotel or guest house has a customer with a happy experience, it is infinitely easier to convince that customer to return than to try and find a new customer who has never been before. So how can you use this information to target your existing customer base for repeat business? The answer is to let Customer Relationship Management (CRM) software help you communicate with them. It’s all about keeping in touch. And an added bonus – you can also target new business at the same time.

Marketing Campaigns
The hotel marketing strategy should definitely incorporate CRM. There are various means of using cheap internet services to produce fancy graphical e-mails to target existing clients. However, used on their own, these do not form a structured marketing campaign. You need to be able to filter the data, for example, by region (town, county, country), by industry (for business clients – conferences, business lunches and the like), by customer profile (visitors for Christmas, Valentines’ Day, Mother’s and Father’s Day). One Dublin hotel that springs to mind actively targets wedding reception and honeymoon couples. Each anniversary they receive a very attractive offer in the post to entice them back for another stay or meal. Others use simple e-zines and newsletters sent monthly or bi-monthly – this keeps the brand fresh in the mind while also alerting the client to any special offers.

Maximise your occupancy
All hotels and guest houses know what it costs to turn a room. Using CRM, we can find out what guests have previously negiotiated lower rates. We can then target those individuals or businesses directly to maximise the occupancy in periods of low demand. As you only make the offer available to a carefully selected segment of your guests, you will not erode your price positioning or branding. It’s common sense, however, many hotels just don’t have the facilities to find this information. That’s where CRM is your friend!

Satisfaction Surveys
Once a customer has left, contact them by phone or e-mail for a short satisfaction survey. The survey should be short, but will quickly highlight any perceived deficiencies in service. But most importantly, you can record the responses in CRM, and use this for future marketing campaigns.

Much has been written over the years about the principles of Lean – whether it be in a manufacturing, stock, management or distribution-type application. From Lean Six Sigma to Kaizan, the amount of information available in this area is colossal. However, the concept of Lean Marketing is only just emerging. In its basic form, it takes those same principles alluded to above and applies them to the marketing strategy of an organisation. The fundamentals of lean incorporate complex theories which are too in-depth to explain in detail here. There are, however, a number of common components. We examine here how a properly implemented and well managed CRM system can apply each of these components to help acheive Lean Marketing.

Identify your Value Stream
If you have a range of products, each with its own range of marketing campaigns and messages, it is critical that we identify what products our customers want, but more importantly what message different customers respond to. For example, customers in construction might respond to a campaign that can help them work in bad weather. Using CRM, we can create more efficient methods to deliver targeted messages in the particular manner that customers wish to receive it. It must be remembered that it is our job as marketers to deliver the message in a manner a customer wishes to receive. Lean marketing is a system focused on and driven by customers. Review your past sales to your ideal customers. Determine when and what was of value to them. That is your value stream and your vision.

Measurable results
Any lean marketing campaign must deliver measurable results. You need to be able to identify the response rate out of every 10, 100 and 1000 direct mail pieces. However,the measurements you use determine your success. Having good measurements are the key. Once you have identified the measurement rate, we need to be able to improve on it. Constant tweaking of the campaign in an incremental manner should improve the response rate. If an individual change causes the rate to go down, we immediately revert. CRM assists here by allowing us to measure responses to campaigns and identify over time whether we are improving, and to what extent.

Benchmark where you are
If we want something to measure results against, we need a benchmark for where we are. This is critical in to acheiving a well-balanced lean marketing strategy. Where are we at currently? Take stock, and use the system to keep an eye on the metrics identified.

Where are you going?
Having identified a baseline at a point in time, we now need to measure results against this periodically. Generally, we want to see the response rates going up. But we also need to set targets. We can use CRM in this regard to establish targets at each stage of the sales pipeline. Objective, realistic goals are the key. Too many marketers and sales people generally are overly optimistic. It has to be real or the results will not be measurable.

Continuous Improvement
The final element in an effective Lean Marketing Strategy discussed here is Continuous Improvement. We must always strive to improve. The fundamental theory of Continuous Improvement or Kaizen in Japanese was developed by Toyota. Every single element involved in the process, even the smallest, should be improved upon. For a direct mail campaign, if I can produce 1,000 letters in 3 hours this month, I should strive to do it in 2 hours 50 minutes next month. CRM helps to automate the processes and speed up repetitive tasks.

Businesses across the board are revising budgets and cutting costs where possible in order to cope with the financial crisis. We all know that it is not advisable to cut marketing budgets, as this causes sales to reduce in the medium to long term. That said, many business owners and fincanical controllers feel they have no option. Or have they? What about taking a different approach to marketing that’s not only cheaper, more effective, but truly GREEN?

Using a Customer Relationship Management (CRM) system it is possible to automate the marketing and sales function to facilitate a personalised direct marketing campaign. The objective is to target advertising and promotional material at the decision-maker directly. It is now possible to have a low-cost, hosted sales software system where you don’t need any expensive equipment on-site to run the software (see www.profits.ie for full details.) This means that not only are you not paying for a server and all of the equipment that goes with it, but also you don’t need to have the associated running costs. You also have the added benefit of choosing electronic delivery of your marketing material, or if it needs to be paper based, the numbers are much lower due to direct communication with the right person.

How Hosted CRM is GREEN MARKETING:

• Using our datacentres to host your IT system means that many businesses are using the same servers – each business does not have a dedicated server.  This means much lower energy consumption through manufacturing and on-going maintenance of servers
• Enegery consumption is further reduced in running costs – one server might have 50 systems running
• Electronic delivery – e-mail, text message – means no paper and printing
• Direct, targeted marketing via letter means much smaller campaigns with much larger conversions. So no more leaflet drops of 10,000, bulk newspaper ads, etc.
• Less manual tracking means much less paper notes

Green marketing is fast becoming a vital component in getting new customers and retaining existing clients. Linked to social marketing (using Linked in, Fackbook, Bebo, Twitter), hosted CRM can provide a whole new Eco-Marketing strategy that some of the largest corporations in the world are beginning to embrace (if you don’t believe me, google “Green Marketing”.) It’s only a matter of time before this filters down to the small business. Why wait when you can get in first and build a name for Green IT?

A Customer Relationship Management (CRM) Software system is used to automate the sales, marketing, customer service and anciliary functions of a business. Traditional CRM systems were installed on a company’s server and accessed by users through the local network. Often costly and requiring management, such systems could not be used by smaller businesses and it was difficult for businesses with multiple locations and sales reps on the road to maintain real-time access to information.

The last number of years has seen an increase in so-called “Cloud Computing” where access to software systems is provided in real-time over the internet. In Ireland, take-up of Hosted IT services (as they are also known) was initially restricted to larger corporations due to the lack of broadband infrastructure, however this is no longer the case. Hosted CRM is now available to most businesses in the SME sector in Ireland, and it’s benefits apply to virtually all industries.

Hosted CRM is a Web based CRM provided by an external service provider (similar to telephone, electricity, water, etc). Organizations that use the CRM system don’t own the CRM software, instead they subscribe to the CRM services by paying a monthly subscription fee. Web based CRM systems use web browsers as the clients. While the user does not own the software, they do however own their data.

Benefits of Hosted CRM Hosted CRM

Low Initial Cost CRM software is expensive and costs hundreds of thoudsands or millions in the life cycle of CRM implementation. A yearly subscription fee to CRM services is only a fraction of that cost.

Try it out A Hosted CRM option allows organisations to try out CRM and they may eventually choose to host online CRM in-house if economical. The low relative cost means they can prove the concept without spending a fortune.

Low Cost of Deployment The software is accessed via a web browser so there is nothing to install on each PC.

Rapid Implementation The implementation of hosted CRM involves initial setup, configuration, data migration and integration. Hosted CRM providers normally acommodate custom requirements at a small cost. Also, the Cost of implementing hosted CRM is only a fraction of traditional CRM implementation. Hosted CRM can shorten the implementation from months or years to a few weeks or even days in some cases.

Accessibility  Users can access web based CRM from anywhere as long as they have Internet access and a Web browser.

Instant information sharing Information entered remotely on the web can be transmitted back to CRM backend for instant information sharing across the business.

Customer Portal Because the software is web-based, it is possible to have your customers access their account information which is live and fully up to date.

During the current economic turmoil, every sector and industry is doing what it can to push sales and target customers. Businesses are beginning to understand the true importance of customer focus. But what about the retail sector? Are retailers using the methodologies other industries are employing to leverage new customers and bring back repeat business? The past eighteen months have witnessed a strong upsurge in the number of retailers looking for a lifetime strategy that will cater to their customer requirements. What have they come up with? Most of them have seen that the need of the moment is a customer strategy that caters to lifetime responsibilities. As a result they have turned to a customer strategy – retail CRM software to fulfil those needs.

Let’s take a look at some of the ways in which retailers have sought to hang onto their most valuable customers prior to the advent of CRM:

• Offering incentives at the point of sale for repeat business (e.g. vouchers, loyalty cards, etc.)
• Competitions, free draws, etc.
• Option to try before you buy
• Bulk mailings in newspapers, etc.
• Encouraging customer feedback and making sure that it is paid attention to
• Providing customers with a chance to share their experiences with other customers
• Treating their customers as friends not as mere customers
• Little unique gifts and customized mailbox offers ensures that their best customers keep coming back.

All this is magnificent, but the added edge is what is needed. It is the extra touch that has proved so necessary and that serves as the edge over the competitor. Why should retailers look at CRM? What can it do for the retail industry?
The answer is that Retail CRM offers a streamlined approach to managing the entire sales process from beginning to end. And when we say beginning, we mean not the sale itself as would be the case in a standard accounts system, but far in advance – identifying target markets, prospecting, direct mail marketing, etc. The result is targeted marketing that gets through to the right person, at a fraction of the cost of media advertising. And it is measurable – you can calculate very easily the return on a particular campaign.

CRM enables retailers to address the right information to the most appropriate customer segment. It helps the retail industry to send personalised messages to each customer with information catered to his likes. CRM helps retailers take their customers successfully through the sales and marketing process.

CRM Retail Software Benefits

• targeting prospects
• acquiring new customers
• campaign management
• lead distribution
• long-term relationship value
• effective selling processes
• forecasting
• better service and handling post-sales service
• support issues with call centre

The Bottom Line

It’s a fact that retailers will benefit from a properly installed, configured and used CRM system. It is indeed probable that most retailers will not gain the advantage simply because they will not install such systems. Therefore the rewards for those who “see the light” will be huge and need to be availed of if one wants to succeed in a competitive business world.

Five Newsletter Marketing Ideas

Marketing materials are considered as a basic necessity for businesses. Business professionals rely on these materials for strengthening their promotions, creating visibility for their brand, and reaching out to customers. One good example of a reliable marketing tool is a newsletter. Company newsletters also serve as an effective communication medium. These printed materials keep readers updated with your company’s events and news stories. They also keep your name right in front of them so they are more likely to buy from you.

Newsletter marketing can produce beneficial results for your business with proper execution and professional printing. Creating an effective newsletter for your marketing campaign come easy with these newsletter marketing ideas:

1. How-To Articles: Readers look for articles that they can benefit from and offer entertainment at the same time. Providing readers with a step-by-step guide regarding topics that are relevant to them is very beneficial for your clients. A photography studio for instance, can write articles on “How to find your Right Angle”. Customers will certainly hold on to the newsletters, because of the useful information it provides.
    
2. Exclusive Interviews: Interviewing experts in your field is a great way of allowing readers to learn from their experiences. For example, a real estate newsletter can feature a real estate mogul to inspire its readers and share valuable information.
    
3. Guest Writer of the Month: Choose a person with an interesting story to tell and ask them to write articles for your newsletters. Having guest writers to contribute articles to your newsletters allows you to offer variety to your readers, because of their unique writing style. Give a little background about your guest writer for your reader’s knowledge.
    
4. Helpful Tips: Offer solutions to common problems encountered by clients, so you can position yourself as a reliable expert. Readers will be more engaged to read your newsletters if they can benefit from the articles you publish.
    
5. Vox-Pop: Allow reader interaction by asking their opinions on certain issues related to your business. Publish your questions on the newsletters and encourage readers to participate in the discussion by emailing their answers. Choose the best answers and publish them on the next issue of your newsletters.

Following these tips helps ensure that you will be able gain rewarding benefits from your newsletter marketing campaign. It would also be best to ask for your reader’s feedback in order to produce articles in line with their topic of interest. Online printers offer newsletter printing service that is very ideal for your marketing campaign. Their Newsletter print templates are very useful for designing your prints. Print templatescan be a good source of ideas for your newsletter design.