Maximizing ROI from your CRM: Why it fails and How to succeed
A lot of businesses struggle when it comes to getting the best ROI from their CRM implementations. The usual complaints include phrases like
- “We implemented ‘XYZ’ CRM and our Sales haven’t shot up”
- “My users are spending a lot of time in manual data entry”
- “Our users are still using the old methods/tools of Sales”
- “I am spending a lot on CRM subscription and not sure why”
- “Our CRM doesn’t seem to show exactly what’s happening”
It is exactly why we have gathered 6 extremely useful tips from industry experts including CRM Search’s Karen D. Schwartz and Christopher Bucholtz from CRM Buyer. Using these you can not only pinpoint what is going wrong in your CRM strategy but also see what can make your CRM ROI shoot up exponentially
So first let’s see why you fail in getting the optimal ROI from your CRM investment. You should ideally avoid these practices when working to maximize your CRM ROI:
1. Infighting between Sales & Marketing CRM
Industry experts agree on one thing: data is going to be the decisive factor between successful and unsuccessful businesses in 2017. Data is valuable when it is used to qualify leads for the sales department and in showing which marketing campaigns lead to closed sales.
But these insights can be missed due to the age old infighting between the marketing and sales departments. If sales and marketing don’t work together the insights from the data become useless. So the first thing to do is to get both departments in a room to map out common goals, and to discuss how to use the data to achieve their individual goals. And it is always useful to have mutual goals for both the departments to encourage them working together.
2. Acting on your Data
One of the foremost features of any CRM application is to create reports from your business data. T