Customer Relationship Management (CRM) systems are popular tools many companies use for sales efforts, account management, and popularly, as the lead generation system for their lead gen/sales hunters and salespeople. I do not necessarily agree with combining your account management and sales management because I see the trouble it causes.
Selling requires contact information
But first, let us talk about what is needed for an effective CRM system. There are resources available that provide contact and company information. Some data providers cover all the industries and some just cover one industry. In any event, you must be careful of where you get your data from because old data is bad data and bad data is a waste of money.
So, you found your data provider and now you must decide where you will be housing this data.
Data is being housed n systems that do not maintain and keep it clean and up to date
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Some take the data and export it into an excel document, a CRM and others put it into some form of a combination CRM and/Enterprise System. Some of the CRMs are simple and straightforward while others are built upon system on top of systems with apps on top of apps. It can get very complicated so much so that you need a system engineer to help you design the workflow to get it to the point that it works for your business. I understand there are many businesses that have very complex needs and the engineer is warranted, but there are some providers trying to accommodate everyone. But it never does accommodate everyone; someone loses/many lose.
Not all CRMs Have the Functionality Needed to Keep Your Investment Working For You
Finding the Right Technology is a Process
Because finance and accounting are typically driving the organization's reporting requirements, you will find their demand for comprehensive systems popular; the bigger the company, the more complicated it goes. Do the data that lead generators and salespeople use, need to be part of that big machine? The answer is No! and here is why.
Contact data needs its own system so it can be cleaned, maintained, added to in big numbers, and searched quickly.
Hunters who are building your business need their data fast and easy so they can make their calls and conduct outreach without a lot of hassle. Large systems typically have many screens to go through and that becomes annoying and time-consuming to the user.
There is a point when too much functionality slows down a feature that some of the users need. It would be a lot easier for everyone involved if the systems being created were not trying to be everything for everyone. When creating a system, and keeping the user in mind, you want to be sure that the system is created with full functionality and well-thought-out processes for the user. In many cases, it is typical that a multi-function system, aiming to please everyone, will be strong in one functional area but miss important features in another.
The System Used to Hunt From Needs to be Quick
So when will you need to think about subscribing or buying a CRM system? Your investment in the data you purchase needs to be managed to keep bringing you value. Some will keep the data in excel sheets with a process to keep the data in order, clean, and maintained. This is a good and manageable solution for a sole proprietor. But when you have a group involved in the lead generation and sales hunt process, you then will be sharing information, and everyone will have a need to see actions being taken with the contacts in your system. That is when you start to think about a CRM system.
People who have already invested in a system fall into two categories: (1) Those who will stick with what they bought and make it work no matter how annoying and ineffective it may be for some, and (2) the others are trying something new every year.
Ask for Support from an Experienced Sales Organization
So, what about those who have no system at all or never stepped into the arena to evaluate the best CRM resource for their needs? Here are some guidelines:
Do not be in a rush. You can manage as you have been until you are in a position of having the time to properly evaluate your options
Before talking to vendors, have your own list of questions derived from examples of Buyers' Remorse. Be sure you have someone experienced in using CRM systems helping you to ask the questions. It is worth the investment to have someone who knows what they are talking about.
The system you choose must fit the need and requirements. If you are hiring a team to hunt new business, then the data is important to hunt effectively. If you are lucky enough to already have a good pool of business, then you may need a system for sales workflow processes. These are different needs so before shopping around, know which is your scenario.
According to the Sales Readiness Group, the average tenure of a salesperson from the time they start a job to the time they leave is less than 2 years. So, salespeople are used to working on many different sales tools because they come and go. The business, however, still needs to carry on. When new salespeople are hired, they should be asking (1) are you looking for a hunter or (2) are you looking for someone to manage/grow accounts that exist. The answer will dictate what type of system and processes are needed and should be in place. If the question is not asked and the system/process does not exist, the salesperson stumbles around, the manager is not satisfied, and soon there is turnover, yet again.
Sales departments need a good system that stays with them and grows as the company grows. People in charge of the sales function should be invested in seeing that the sales tools and programs have the appropriate features for their needs and that whatever the solution, it is being used consistently, as well as continuously improving process along the way.
Sales-Link, Inc. is a lead generation and sales process company and the creator of BDI Solutions, a system for sales and lead generators needing to identify new business opportunities.