Archives For CRM

Today, SugarCRM is pleased to announce it has signed a deal with TrustSphere to bring its relationship analytics technology into the Sugar Platform. With relationship analytics, every customer-facing professional can easily tap into their colleague’s knowledge and interactions with their prospects and customers before reaching out to them. Relationship analytics is typically most effective in large organizations with long sales cycles that involved multiple handoffs between employees. Having said that, here’s a very simple (SuperBowl week) scenario about how it works:

Let’s say I work in the sales department for the New England Patriots and have just been assigned a batch of renewal opportunities. My goal is to reach out to corporate customers to engage with them about renewing their luxury box contracts for next season. What better time to reach out than Super Week right? I send an enthusiastic email to the first contact on my list to establish a relationship, only to have him sternly tell me he’d already emailed with my colleague Vijay about his list of preferences multiple times during the season.

None of this information was in my CRM. Wouldn’t it have been nice to know Vijay had already established a relationship with the contact before reaching out? I could have used Vijay’s knowledge to become more efficient and would have saved myself some embarrassment. Not to mention the experience would have been much better for the customer.

Relationship analytics allows CRM users to leverage their most valuable asset – the “Collective Relationship Network.” Relationship Analytics for Sugar solution will dig out the relationships between your employees in the entire organization and your customers. The solution scans email headers to find previously hidden and untapped insights (see the example above), which are seamlessly integrated into Sugar. These customer insights improve sales performance, reduce customer churn and accelerate the new employee onboarding process.

This partnership makes TrustSphere’s Relationship Analytics a complementary solution designed to work seamlessly within Sugar. The user will gain valuable insight without ever having to leave the CRM. Relationship Analytics for Sugar is priced at $20 per user per month. It integrates with popular email systems like Microsoft Exchange and Office 365, Lotus Domino and Gmail for business. It is available with all Sugar editions and supports both SaaS and on premise deployments.

In the first part of this series, the focus was on People. In Part 2 of the series we shed some light on process; what those people should do and how they should do it. For those of you who know me have an inkling for what is coming next <drumroll please> technology. The guiding principle is simple, technology should always be to support people and process

Customer interaction design or is it customer management?

How can and should organizations map the buying process to the selling process in such a way that both personalizes the customer journey and allows the sales organization to scale? At one end of the spectrum, there is the selling methodology that require specific actions and statuses, and at the other end is your best sales person who want nothing to do with your new sales methodology. What is the balance? The future promises artificial intelligence, but that is going to take some time.

Neither the marketing nor sales organization should be dependent upon specific individuals who like to hoard knowledge. What is needed is for implicit knowledge to become institutional, explicit and procedural, so that everyone has the benefit of the expertise of the few.

You pay good money for the tools your organization uses, so the temptation is always there is to rely on technology, sometimes, a bit too much. Organizations often fall into the trap of trying to manage everything from journey design, marketing resources and campaign design to leads, sales tools, and revenue performance all in one tool. Yes, technology has an important role to play in each of these aspects of the lead to revenue engine, but technology cannot take the place of carefully thought, designed and execution.

It is easier said than done

As hard as we wish it to be true, customers simply do not stay inside the prescribed lines. Customers are making their own choices, designing their own journeys, following their own path. These self-designed paths are particularly complex where customers jump from digital to old school (phone or in-person interactions) channels. Sales executives need technology to support their efforts, but technology cannot do all of the work. All too often marketers underestimate the importance of cross-channel marketing content and message delivery.

During the course of this discussion, we have been staying away from pure technology solutions, but at some point, the rubber needs to hit the road. We need the right technology, people need help to get things done. Any and all modern CRM platforms should allow marketing, sales and sales operations to visualize and choreograph both interactions and touchpoints within the customer decision cycle. The benefit of putting this capability within the CRM system is that key stakeholders within your organization will be able to track an individual customer’s progress through the steps of a journey in order to:

  • Understand and remove customer points of friction
  • Understand and remove operational inefficiencies
  • Provide visual cues to Sales team, showing the steps within the customer journey

Extending CRM with the right capabilities, that aids in design and execution, is extremely beneficial to bring people and process together with technology.  Reducing friction will facilitate customer progression through the decision cycle, which in turn will increase sales velocity in a natural way. The improved satisfaction enables your employees to stay on top of their game. It’s a win-win for everyone.

Working towards continuous improvement

When the topic of tools and technology come up in the context of the lead to revenue discussion, marketing automation vendors are typically the first vendors to enter the discussion. Frankly, marketing automation vendors are working hard to claim a leadership position, but they lack the human element. Optimizing processes is NOT the same thing as automating processes. But there is still work to be done. Giving users a guided path and flexibility to adapt to the customers’ changes is paramount to a successful lead to revenue strategy, driven by CRM.

Successful CRM requires an organization to learn and accept new business processes and supporting technologies, which is never easy. Often the greatest difficulty is changing the culture of users. Use quick wins to gain support for the new CRM system and continuous improvement to keep interest high. Users will not adopt new CRM processes and technologies that do not have a clear benefit for them. Nor will they accept a new CRM that is not properly socialized. End user adoption is always difficult, without proper change management and governance practices put in place. There is nothing more beneficial to users than a visualization of the path to success.

Designing and delivering a system for sustained, systematic improvement for the lead to revenue processes requires a more comprehensive approach than simply measuring the results of marketing spend by the metric of revenue contribution. To truly optimize performance, marketing and sales executives need to optimize the drivers of performance, guide the users down that path and focus on making users and customers alike to be successful!

 

If you follow SugarCRM, you may remember we like to tout that Sugar is designed for the individual user, not just the management team.  We take immense pride in offering a CRM that helps the users do their jobs better. What is even more heartening is when our customers and partners carry over that spirit and deliver a user-focused approach using our products.

Sugar MACS

Last fall, we announced the availability of Sugar MACS which allows companies to customize the look and feel of our mobile app with a simple UI – a CRM industry first!

With Sugar MACS, our customers can deliver a unique brand-building experience to their users. Customers can leverage the power of the Sugar Mobile app and at the same time customize it so it feels like an extension of their company.  Best of all, there is no coding required.

Symphony Mobile CRM App

One of our OEM partners, Symphony, showcased the simplicity and power of Sugar MACS recently.

Symphony provides software and consultative services for accounting professionals. Symphony’s CRM offering is a central aspect of their business.

Symphony used Sugar MACS to re-skin the Sugar mobile app to give a look and feel that their accounting professional user base can relate to. After all, it is more intuitive for a Symphony CRM user to search and find the Symphony CRM mobile app on a Google Play or iTunes store than for a Sugar mobile app.

symphony-crm-1      sympony-crm-2

 

Sugar MACS makes it that much more easy for Symphony to deliver on their user-centric CRM promise. Here is the promise in their own words – the whole point of CRM is to make it so completely useable and useful that your people embrace it enthusiastically.

Industry game-changer

Every company has its own unique ways of using technology. Extending that premise, every company has a unique way of engaging with their customers as well. Custom mobile CRM apps are beneficial for the productivity of the mobile workforce. So, shouldn’t companies have the flexibility to easily customize their mobile CRM user experience as well?

The mobile CRM use cases of a telco offering white labeled SFA functionality will be vastly different from that of a CRM services company serving accounting professionals in a specific market. The affinity and needs of a mobile CRM user working for a large global financial company will be different from those of a customer facing employee in the shipping industry.

With Sugar MACS and Sugar mobile app, any company of any size can easily create a custom look and feel through a simple UI. Sales and customer operations leaders don’t have to worry about a learning curve for their mobile CRM users. On the contrary, a branded look and feel will increase mobile CRM adoption.

One of the primary reasons, SugarCRM customers choose us over our competitors is because of our application design (customers LOVE our user experience and our focus on building for the individual end-user first and the manager second). Sugar MACS embodies that spirit.

Learn more about Sugar mobile app and Sugar MACS. Contact your SugarCRM representative or SugarCRM partner for more information.

In the first post in this series, we made the case for better alignment between two organizational teams, in other words, we focused on the people. Your feedback suggests that we are onto something here, which should be no surprise. The fun part about alignment is that people actually need to agree (be aligned) on something, right? The smart thing to do is to be aligned around the processes required to make money (too direct?) so that everyone is clear on who is doing what (and where the customer fits as well).

Starting with Vision

(Considering CRM like a Corporate Mission)

Unfortunately, very few organizations spend the required time to define a clear CRM program. When asked, most executives admit that a well-crafted CRM program must start with a vision and a roadmap. Even still, these efforts often stall and much needed organizational synergy does not have a chance to take shape. This is, in part, is about technology. But, it is really more about defining how technology should (or should not) be used. It’s also about data (as it should be), but it is more than data. It is really about data combined with process. One without the other is like lyrics without a melody. A well-considered CRM platform will support the company vision and will play a pivotal role in determining how teams can and should work together toward engaging customers across their lifecycle.

By supporting customers through their end-to-end journey with you will increase satisfaction and long-term loyalty. This requires a focus on process. The common thread is customer experience and the customer’s perception of their own experiences (not what you think they are). In a business-to-business context, the decision cycle is a series of interactions between individuals. Each interaction results in an experience; good and bad. Good customer experiences correlate to customer loyalty. Which, of course, is the goal because loyal customers are more willing to consider another purchase from a company, are less likely to switch to a competitor, and are more likely to recommend.

Designing the Process to Support the Journey

(Thinking through the journey one interaction at a time)

Lead-to-revenue success is dependent upon well designed and executed internal processes that support the customer’s journey. Process optimization is about using technology to define efficient, nearly procedural, processes for everything from resources and campaigns to generate leads, sales methodology, and sales performance. Managing the plethora of interactions and touchpoints with customers who jump from channel-to-channel requires extra attention. Especially hard is when a customer moves from a digital channel to non-digital. This is where the salesperson needs guidance.

The front-end of the journey is the purchase decision cycle. During a business purchase decision cycle, buyers control the steps of their journey far more than the seller. This is a sea-change from times past that companies (sellers) need to carefully consider. Buyers are engaging with sellers through a multitude of digital, social, and mobile touchpoints. This dynamic changes the role of each player within your organization in a fundamental way. It alters what they must do in order to meet the needs of each buyer. To be clear, this is more than just a journey mapping exercise, this is about diving in one or two levels deeper.

Think big, Start small in Designing the Journey within your CRM Platform

When building your CRM program and considering the vision, it is important to balance two forces: 1) top line revenue growth and 2) bottom line efficiency gains. Both are critical, and the common denominators between them is business process; efficiency and effectiveness. Yes, it is possible to spend time on process improvement that will lead to both cost reduction as well as top line revenue growth, but this is hard. The secret is to design processes that mirror the customer journey and their decision cycle. If your team is able to anticipate the needs of the customer and help them along on their journey, then you can save time along the way while increasing sales velocity and reducing costs.

Benefits of Process Alignment:

Strategic (Company Focused)

  • Grow Revenue
  • Increase Market Share
  • Increase Sales Velocity
  • Campaign Optimization

Operational (Departmental Focus)

  • Increase Efficiency
  • Execution Clarity, Lead Quality
  • Decrease Cost per Sale
  • Capacity for more Campaigns

Your job in 2017 is to articulate, communicate, and evangelize the CRM vision – focus on the process, not just the data. Make a list, prioritize that list and consider the rate of change while trying not to do too much in too short a period of time. With respect to process efficiency, introduce change and transformation properly with input from other teams. Finally, keep an eye on your communications, vertically and horizontally (do more than simply manage up), doing your very best to facilitate the change.

As a founder of SugarCRM, I am often asked the question, “how do you compete against Salesforce?”  After all, they have great buzz in the marketplace.  And because of their position in the CRM space, we must beat them at some stage of the evaluation process every time we sign up a new customer.  How do we do it?

I usually answer this question by talking to the strengths of our product and our company.  SugarCRM customers choose us over Salesforce because of 1) our application design (customers LOVE our user experience and our focus on building for the individual end-user first and the manager second), 2) our technology flexibility (we integrate with EVERYTHING and deploy EVERYWHERE), and 3) our best-in-class customer loyalty (winning the PC Magazine Business Choice award for CRM two years in row says it all).

But there is a lot more to building a successful company than just a killer product and an avid customer following.  How we engage with our prospects and customers is critical to how we beat our competition.  Yeah, that’s called CRM and we live it everyday.

Our own CRM strategy at SugarCRM is the result of some very thoughtful planning.  This blog post will point you to the resources we used to build our brand and define the programs that educate our prospects to choosing Sugar and becoming successful SugarCRM customers.

Let’s be clear.  I am opening the kimono.  This is the secret sauce.  You’re getting a very real view into how we operate behind the scenes.  If you are the up-and-comer in your market and challenging your industry’s status quo, pay close attention.  This is our formula for challenging the status quo in the CRM industry.  You can follow this exact same formula and become the next challenger in your industry.

To begin with, competing against the big boys takes more than just inspiration and guts.  It takes a focused strategy on building a brand that your potential customers will pay attention to and that your existing customers will love.  Every next market leader starts off with no brand recognition and must compete against a category leader that dominates their market’s awareness.  How to do that?

In 2009, Adam Morgan wrote the book “Eating the Big Fish: How Challenger Brands Can Compete Against Brand Leaders” which describes how small companies can effectively compete against the brand of large companies.  This is good stuff.  Marketing jujitsu at its best.  Building a brand takes a lot of work and this book details your roadmap to disrupting your industry.

Quick Start #1:  I thank Adam profusely for recognizing that most business leaders like me appreciate the Cliff Notes version of business books.  He published an excellent 9-page summary of his book that I recommend to every CEO and CMO.  Read it.  It will change your worldview on how to approach culture, innovation and brand development within your company.

Now to the next step.  You must turn this brand strategy into how your employees engage with your customers.  Creating a sales and marketing execution based on the Challenger Brand requires a different perspective than what is outlined in “Eating the Big Fish.”

In 2011, a consulting firm called the Customer Executive Board (CEB) wrote a book called “The Challenger Sale:  Taking Control of Customer Conversation.”  Building off of the Challenger Brand idea, but focused much more on how to engage with potential customers rather than the market as a whole, The Challenger Sale has become a “must read” book for start-ups across Silicon Valley.

Quick Start #2:  Here is an excellent blog post summarizing the Challenger Sale book into a short 10 minute read.  This is good stuff.  If you have worked with a SugarCRM sales rep, you will immediately recognize how we turn this theory into practice.

But isn’t there a missing piece?  Some smart guys wrote about building a Challenger Brand and executing on the Challenger Sale.  However, a bridge was needed between the brand and the sale.  That’s called marketing.  Translating brand strategies into marketing tactics that support sales execution requires a unified framework for your product marketing, demand generation, field marketing and all other components of your marketing execution. Most importantly, you need a crisp “challenger” message.

The Customer Executive Board created a very thoughtful Challenger Marketing framework that does just that.  It enables your marketing team to tell a disruption story to the market built around the storyline of “the world is changing, old is bad, new is good, we deliver new.”  Challenger Marketing is a rich framework with several key concepts and approaches for building a multi-faceted challenger marketing program within your company.  It takes some time to digest all of the concepts and build them into your content and delivery.  This is where you have to buckle down, pay attention and really think through how to implement these ideas.

Quick Start #3:  Our friends at CEB created an excellent 55 minute overview of Challenger Marketing  in this YouTube video.  Presented by Brent Adamson, customer brainiac, co-author of the Challenger Sales book and co-creator of the Challenger Marketing methodology, this gives your marketing team the details they need to turn concept into reality.  I have to tell you.  Wow.  Mind.  Blown.

Now that you’ve decided you want to “challenge the status quo”, what’s the status quo you want to challenge?  This is where my company, SugarCRM, comes in.

SugarCRM customers have chosen to differentiate themselves in their marketplace by embracing digital transformation to build a killer customer experience.  Don’t you want to win the PC Magazine Business Choice Award for your industry?  I bet you do.  This is where we help you map out your company’s customer journey and translate that into an easy-to-deploy set of business processes built in a killer app called Sugar.  Gotta love that name.  Puts a smile on my face every time.

Quick Start #4:  Learn how to look at your business through the lens of your customer, by reading this short ebook on how digital leaders use customer journey maps to guide business transformation.

There you go.  A four-step recipe for success. And I do wish you the best of success.  I believe there is no better satisfaction that taking on the big boys and beating them.

Want to carry on the conversation we started here? Connect with me on LinkedIn.  I look forward to meeting you.

(Editor’s note: this post was originally published by Sandhill.com)

Customer relationship management (CRM) software is undergoing an evolution, thanks to demand for innovation in an industry that is ready for change. Case in point: Gartner reported that CRM software sales reached $26.3 billion in 2015 — up 12.3 percent from 2014. Now, combine this with recent data collected by Strategy Analytics, which points to an expected increase in the global mobile workforce — 38.8 percent of the total workforce in 2016 to 42.5 percent in 2022. The confluence of these two data points indicates one thing for 2017: greater expectations for mobile CRM — next year and beyond.

Eventually, mobile CRM will become the most common use case for CRM, while desktop CRM will be more specialized and relegated to specific tasks. But before we get to that point, mobile CRM must become a more robust mobile platform, not just bolted-on mobile components or extension apps that are essentially “CRM that you bring with you.”

To date, only a handful of vendors provide a mobile application that not only truly fits the smartphone or tablet screen but is also linked to the core CRM. The complete mobile CRM experience via a real mobile platform encompasses three main features and capabilities: geolocation, machine learning and predictive analytics, and the ability to develop and deploy via mobile software development kits (SDKs). Let’s look at each a bit more closely.

Geolocation

Integrated into a mobile CRM platform, geolocation will enable CRM that “knows” where you are and how to organize your day. For example, when traveling, geolocation can suggest customers or prospects that are close by and forward their current contact information and account status. The geolocation-enabled mobile CRM application also should include notes from previous visits with the customer, how long they’ve been a customer, their level of satisfaction — in short, any information that will provide a complete picture of the customer or prospect. Armed with this information, the mobile professional is armed with everything he or she needs when walking into a meeting with a customer or prospect.

Machine learning and predictive analytics

The complete mobile CRM experience isn’t just about delivering critical information as it’s needed. It also encompasses advising the mobile professional on his or her next step. These “digital assistants” —powered by machine learning and predictive analytics — intelligently guide users toward deepening customer relationships by gleaning information from outside data sources such as Facebook, LinkedIn and Twitter. As part of machine learning and predictive analytics, natural language processing assists by turning voice files and text into actionable items, helping the mobile professional prioritize, complete tasks and close deals.

Mobile SDKs

The ability to customize (add, modify and brand specific features) per a company’s unique needs remains important, making mobile SDKs a critical consideration in 2017. Companies should look for mobile SDKs like SugarCRM’s that help them reimagine their mobile strategies in new, exciting and unlimited ways. Historically, there has been a lot of added expense involved in building an integrated mobile CRM application like this. But next year, companies should expect creating customer-focused mobile experiences to not only be fast and easy but also cost-effective.

Meeting customer expectations and creating a seamless user experience aren’t anything new in terms of goals for mobile CRM in the New Year — and let’s face it, countless companies across industries have those goals in common. What is new is the way forward-thinking CRM software vendors are using engineering, machinery, tools and computing to power features, functionality and capabilities for a wholly new mobile CRM experience. For 2017, companies shouldn’t settle for the status quo; rather, they should strive to find a purpose-built, mobile CRM platform that is intelligent, customized and primed to boost the mobile professional’s effectiveness and productivity.

Introduction

By 2020, customer experience will outweigh the importance of price and product. Are you investing enough in building relationship with a customer?

This is the first in a new blog series on the role of customer relationships and how Relationship Analytics can improve your key sales and business metrics.

Complex B2B Sales and Customer Relationship

There is a common notion that once you have developed a superior product or service with a strong value prop, you don’t need to invest a whole lot in the sales process. It’s the whole “good products sell themselves” fallacy. Top performing B2B sales leaders and reps don’t buy into this myth, they know very well that going into a deal and simply showcasing a badass demo or offering lower prices than the competition are not good enough to close. This is true especially for B2Bs with a complex sales model.

B2Bs win by building relationships. A relationship based sales approach is not easy, but it is what sets winning companies apart from competitors. In fact, a Gallup study shows that a typical B2B company has optimal relationship with just one in five of its customers. But those fully engaged customers deliver a 23% premium over average customers in share of wallet, profitability, revenue, and relationship growth.

Let us look at sales scenarios where relationship building has far better returns than other commonly used sales approaches and tactics; or even worse, the absence of sales systems and process.

Often, sales reps rely on cold calling. But stats from various studies clearly suggest that this may not be effective use of the sales leader’s budget or the sales rep’s time. Consider that only 1% of cold calls result in meetings. Or that a staggering 90% of B2B decision makers don’t respond to cold sales outreach. 84% of B2B leaders start their individual buying journeys with referrals. Nearly 3 out of 4 business execs say that they prefer to work with sales professionals who were referred by someone they know.

These stats all mean that sales teams must evolve how they engage with prospects. On the flip side, buyers expect consistent engagement during their journey.

Relationships play a crucial role even with your existing customers. A concerted effort to build relationships improves the lifetime value of your customers – better subscription renewal rates, more referrals, customer advocacy and higher conversions in upsell or cross-sell scenarios.

CRM and Relationship Analytics

Now that we have reiterated the value of customer relationships, you may be asking, “isn’t my CRM meant to help me with relationship building? Especially, when the CRM acronym stands for Customer Relationship Management!” (A fair point).

As a sales leader, you know the effectiveness of a CRM system depends on the quality, accuracy and integrity of your prospect and customer data. At the same time, you want your sales members to focus on sales activities and spend minimal time on CRM data entry or CRM administrative tasks. As a result, CRM data can become incomplete from time-to-time.

Enter a Relationship Analytics solution. Imagine having a software app that will dig out the relationships between your employees in the entire organization and your customers. It doesn’t stop there. The software then automatically enters that relationship data and insights into the CRM system. We will share more details in the next post of the “Building Solid Relationships with Customers” blog series.

CRM is a foundation tool for sales. A Relationship Analytics solution will extend and enhance your core CRM system.

Summary

In this post, we talked about why you need to invest in building customer relationships and a sneak preview of Relationship Analytics. In the next post, we will share more details of an out-of-the-box Relationship Analytics solution for Sugar.