FIVE VITAL ROLES PLAYED BY CRM SOFTWARE IN B2B INDUSTRY

 

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What separates the top-performing Business-to-Business (B2B) sales and marketing companies from their competitors? What are the winning practices that enable them to make predictable sales performance?

Understanding and coming-up with a precise answer to these questions could actually decide your business fortune. Especially, as the B2B space is used to have winners that establish an overwhelming lead over the 2nd player.

As the initial step, we need to determine why the B2B industry is so drastically different from B2C industry.

What Makes B2B Industry so Different?

The B2B audience is mainly looking for efficiency and expertise. Meanwhile, the B2C audience is more likely to be engaged by deals and entertainment.

This mainly identifies that you need to be prompt and agile in order to start appealing to the B2B customers’mindset.

Besides, the B2B purchasing cycle is often much longer than the B2C. You should have a better nurturing and close attention towards the aspect to lead your customers through the lengthy sales funnel.

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This essentially means that prospect engagement and quality assurance is the most important aspect of managing your B2B sales.

In this blog, we will try to discuss about the effective use of CRM software in the B2B industry. We will also discuss about the proactive ways to improve your business.You can also use business data to influence proactive business relationships.

Ensure Security for your business Data

Today, ‘data driven business operations’ have come to be a popular term in B2B industry. But, when it comes to managing data, its practical application can easily get out-of-hand.

You have to constantly dabble between multiple tasks, with each process consisting of multiple customer interactions. When you have to cope-up with five different parallel tasks, keeping-up your product data up-to-date may even seem impossible. In this situation, collecting and managingyour data can easily turn into a troublesome challenge. You also need to constantly dabble between your business objectives.

With CRM system you can store any kind of information, be it clients’ contact details, order details, purchase history, interaction updates, meeting or call reminder.

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After storing the requisite information, you can also restrict and manage the access to the information portal at any given point of time.

Now have a quick look at the facilities of data storage-

  • It facilitates employees with direct access to customer data.
  • It makes sales tracking easier than ever.
  • It helps to clarify the stages of sales funnel.
  • It automates target marketing with customer segmentation.
  • It supports maintaining data security and accessibility at the same time.
  1. Aid in Employee Collaboration

A cloud CRM platform ensures that your business campaigns are no longer tethered to your clunky desktops.The cloud infrastructure lets you access them through the mobile devices and laptops.

This means that users can increasingly rely on their mobility to brainstorm and planthe next B2B marketing strategy.

Here are some features of CRM software that aids employee collaboration-

  • Accessible dashboard with all customer information
  • Facility to manage, edit, and update data
  • Smart communication network within the system

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  • Systematic tools to share important data within the team
  • Facility to update meeting schedule, MOM, and order status.

You can use the CRM app to store and also manage all customer information within the cloud. This also gives easy all-round access to the mobile information.

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  1. Monitor B2B Sales Progress

Within the CRM platform, your sales member can actually track and understand the status of a B2B sales effort.

Some of the questions you can track-

  • What was the result of a pitch last week?
  • Has the client responded yet?
  • How well is a sales initiative faring?

Of course, the system needs to be frequently updated with sales data against each client that ensures optimal tracking.

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  1. Deliver Personalized Service

The core point of a customer-centric business strategy is being able to treat each client differently. After all, choices will differ between people-to people. You should also provide value to different people.

Providing diverse levels of service to divergent clients can be a crucial differentiator, as products and services become gradually commoditized and brand values become increasingly alike.

A customized service can ensure-

  • Customer centric approach of the business
  • Client satisfaction
  • Long-term relationships with clients

So, in a way it’s ultimately turns into great sales revenue, which is the key objective of all companies.

Conclusion:-

You can almost say that B2B audiences are more logical in their decision making.

In one sentence, the successful B2B companies are better at organizing and streamlining at their daily processes. This helps them to be more efficient and cut costs aggressively. This in-turn gives them a better competitive edge.

Want to increase your business prospects? Contact Kapture CRM – ask for the demo or try ourfree CRM trial to know more about Customer Relationship Management. For any enquiry call +91 7899887755 or send a mail to us at sales@kapturecrm.com.

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SET AND ACHIEVE SMART BUSINESS GOALS WITH AN INTEGRATED BUSINESS MANAGEMENT PLATFORM

 

Do you want to improve your team performance and build stronger business strategies? Are you utilizing your business management platform at its best?

Most of the business owners believe Business Management is all about achieving their sales quota and afterwards providing excellent customer service. This is one way correct. But modern day business management needs to go beyond that.

Being the most useful business management tool, CRM software plays a dynamic role in today’s competitive industry.

Customer Relationship Management System has become so much popular, that last year (2016) overall CRM usage increased from 56% to 74%. Furthermore, 91% of businesses with over 11 employees now use CRM software for customer management and organizational improvement. That is why it is expected that the CRM sector will turn into a $37 billion industry by the end of 2017.

A business management software helps you clarify your business objectives and set clear goals. These have made it crucial for organizations to evaluate and optimize their entire activities.

In this article we are going to discuss how a business management platform will help you in setting and achieving smarter business goals.

Know and Understand Your Sales Prospects

 

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A business should be able to identify who will be the future customer. This prediction helps to build a better sales strategy. A systematic analysis of customer’s purchase history may help getting insights about the buying pattern and predict the possible future purchases.

For example – every month, a particular customer usually buys 10Kg rice and 3 packs of fruit juice from your grocery store. Seeing this purchase pattern you can predict that she/he will buy the same products, in the same quantity, next month.

Though this is an over simplified example, CRM software can analyze more complex data and give an idea about the future prospect of sales.

In the other hand, this analysis would also help you recognize any possible risk well in advance. That way, you can be prepared for any reduction of profit as well.

Monitor Brand Reputation

 

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Maintaining strong brand reputation over time demands more than hard work and perseverance. At first, you have to keep an eye on the variable graph regularly. In order to get a clear vision on your brand reputation, you need regular report on customer feedback, reviews, and social channel ratings.

For example – you are receiving constant negative feedback on social media, regarding the quality of your product. That indicates your brand reputation is going down and the product quality needs to be improved.

You should be able to continually monitor and improve the social feedbacks coming into your business.

CRM software helps you monitor each and every review that is necessary to understand your brand position in the market.

Leverage Talent Management and Employee Recognition

 

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Yes, CRM has a strong role in talent management as well. With the CRM software you will not only receive every detail about the customers, but you can also get daily report on work progress. It helps you identify competent employees, who are the future assets of your company.

For example – one of your salespersons successfully accomplished the target within a very short time frame. You can get instant report on the project updates and identify the best talents in your organization.

It opens up a larger opportunity for employee recognition within the company. With the help of this report you can arrange special training programs for the underdogs, and appreciate the strong members to encourage their enthusiasm and dedication.

Streamline Team Spirit with Effective Collaboration

 

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Most of the projects fail due to lack of collaboration within the team. Many companies are now suffering from this kind of unwanted conflicts among the employees that severely effect on organizational growth. But CRM can get back the lost team spirit, ensuring appropriate sharing of data and perfect distribution of work.

For example – a team with 10 members is handling a big project on product distribution in a particular zone. With CRM software the management can ensure the equal distribution of information and data that is needed to execute the plan successfully.

It strengthens the team collaborate and reduces misunderstanding among employees. Hence, the company gains a flawless and strong functioning team.

Conclusion

The advantages of CRM solutions are far-reaching. Apart from the customer management, it is proved to be effective in building a smart office culture. Besides its business automation power enhances the sales opportunity to a large extent. This gives teams, not only the salespeople, the essential time and tools to successfully grow your business in the most resourceful way possible.

BOOST SALES OPPORTUNITIES IN YOUR ONLINE GROCERY STORE WITH A CRM SOFTWARE

Whether, you like it or not, there are clear discernable reasons why shoppers prefer big online stores like Amazon. Consistent discounts, reliable product quality etc. No matter what you are purchasing, sure savings and peace of mind won’t hurt.

At the same time, this makes it harder for the smaller retailers to compete with the big online grocery retailers. Usually, cheaper prices mean compromised products quality and eroding profit margins to the businesses.

Simultaneously, the online Grocery market does pack-in tremendous opportunity as well.

The fast moving consumer goods industry is the fourth largest industry in Indian economy. The market size of FMCG is expected to grow from US$ 30 billion in 2011 to US$ 74 billion in 2018. According to the report of India Brand Equity Foundation, it will probably reach $103.7 billion by 2020.

Due to high level of competition in the market, customer relationship management plays vital role in the growth of any business. As food product is the largest consumption category in India (nearly12% of country’s GDP), customers expect higher quality product and service from online grocery stores.

Let’s begin by understanding the major aspects of customer’s behavior as they visit an online grocery store.

Major Aspects of Grocery customers’ Behaviors
  • Now customers have more access to information, thanks to extensive use of internet. This leads them to having a great number of purchase choices and different quality options.

For example – near about 70% of customers read food labels before making a purchase.

  • According to Allrecipes.com study repost, one-third of consumers check online prices, nearly half of them research products, and more than half find product promotions on their smart phones.
  • The big online stores have made online customers accustomed to receiving significant discounts.
  • Now, consumers recognize that grocers are gathering information about their previous purchases and search history. They expect them to use that information to provide better shopping experience.

Increasing preference of online grocery shopping stores add something more to the competition. Let’s see why consumers prefer online stores for grocery shopping

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Chief Challenges Facing by the Small Retailers

The consumer needs are changing gradually. With the changing requirements, online retail companies are facing seven major challenges today.

  • Managing effective communication system with consumers: Customers always have thousands of enquiries regarding the product, shipping status, shipping charges, delivery time, delivery person’s details and many other things. Especially for the online grocery stores, where the products are expected to be delivered as soon as possible, it is necessary to build a strong communication system among customer service, delivery boys and the consumers.
  • Managing a positive online profile – By its very nature, the online consumers are more likely to be aware of their products and purchases. This means that small or large businesses need to cover their online media category and product interests. This helps business to really focus on creating new user accounts for their businesses.
  • Managing the online enquiries – as the grocery store will drive regular purchases, you need to make sure that you are handling online enquiries regularly. This helps cultivate regular online purchases and definite buying habits.
  • Difficulty to penetrate in small towns: In small towns, people are not yet accustomed to online grocery stores. They are used to traditional food and beverage shopping and have major trust issues with online delivery policy.

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  • Discovering the loyalty Factor: Gaining customer loyalty is one of the critical challenges of small online grocery business. The retailers offer rebates, special coupons, free shipping and discounts as incentives to consumers. However, the consumers keep shifting from one app to another to find out better deals.
  • Balancing the discounts and profitability aspects – The online stores could positively repel the customers by following the wrong pricing dynamics. You need to understand and create an accurate customer profile to buy the products at the right discount.
  • Tracking the buying pattern of consumers: It is difficult to track and understand the customer’s buying pattern, by analyzing purchasing history of each customer. Unless you can understand the consumer’s buying behavior, you cannot able to provide the personalized service and offers.
CRM Solutions for All the Challenges

In order to sustain in this competition and thrive in online business, you need to develop initiatives for increasing product profitability with efficient customer care service. CRM can help you reach there.

  • Excellent customer care service: FMGC CRM software will provide you a common platform to receive customer’s phone calls, reply on the messages, mails and resolve their issues. You can save customer contact details, along with order summaries and call history details in the dashboard. You can track a particular query with the unique ticket number that makes it easy to answer the customer’s questions.

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  • Easy data management to reach out the potential customers: Easy data management software leverages the business strategy to reach out the potential customers. Surveys, buying histories and zonal requirements understanding help to make appropriate product promotion and create brand awareness.

For example – in Bengal and Odisha, people are more likely to buy fish than other non-vegetarian items. Online meat stores can promote fish or perhaps offer special discounts on fish, in order to increase awareness and loyalty.

  • Enhance brand loyalty by offering personalized rebates and discounts: With a CRM software you can have all the product search history of the customers. Thus, you can act on customers’ preferences and offer them personalized discounts on particular products. This helps to strengthen long term relationships between company and consumer.

Conclusion:

2017 won’t be without challenges for food and beverage online retailers. Consumers’ choices are unpredictable, and targeting them with the accurate strategy is even more difficult. But when companies look inward to find ways to be more nimble and integrate a CRM software, the way becomes easier than ever.

Online grocery store business in India is poised to grow between 10%-12% annually. And as Asheesh Molhotra (Partner, IT Advisory Practice, Ernst& Young) has said correctly, “this is one of the best time for technology to make a difference in the FMCG sector.”

Four Ways CRM platform improves the life of a Sales Manager

In most organizations, the sales managers carry responsibility to ensure that sales targets are met and revenue clock is constantly ticking. For the same reason, sales managers also take the most practical and pragmatic point of view of their sales processes.

You know, nothing could be a better eye-opener than the pressure of a fast approaching month-end to reach the sales target.

As a result, most managers have grown to think of sales management as a tight rope act. They need to constantly calculate and counter the different factors that are present 360 degrees.

This leads to a sales manager being constantly overwhelmed and out of steam to make important decisions.

At any point of time, there could be different thought threads running through the mind of a sales manager.

Clearly, these questions have unclear answers or even may be simply irrelevant. As a result the concerned decision maker may simply end-up confused and/or in a constant bad mood.

A Sales CRM empowers the sales managers to take decisions based on the available business data. It also helps you discover practical business insights that will lead you towards taking right decisions.

In this article, we will be discussing about the different ways and significance of making the right decisions to improve your business. We will also look into the underlying challenges in sales management that can determine your sales proficiency.

What’s the Toughest Part in Sales Management?

From its end-to-end, sales process goes through independent activities and processes. For this, you need to first determine the underlying mechanism of sales management.

Sales Management is a series of steps that independently determine whether your end-prospect sticks or drop-off from your business radar.

If you are looking to improve just one part of sales without looking into the next, it will guarantee no final sales improvement.

The following pie chart segments the different activities that consume the day of a sales manager.

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In retrospective, the sales managers are hardly able to allocate 60% of their time towards the activities that could change their financial bottom lines. This may turn sales into a grinding process that may burn-out or lead the managers into taking the wrong decisions.

In this dilemma, sales CRM platform can help managers by providing a consolidated decision making pipeline.

But, how can a data management platform like CRM be an aid to decision making apparatus.

Well, let’s discuss.

  1. Better Initial Prospecting with CRM

Almost all sales managers still unanimously vote the initial prospecting to be the toughest and critical part of their entire sales process.

If you are able to start with a pool of high quality prospects, it will present the best opportunity to meet your final target. Without quality prospecting, all your follow-up sales process gets diluted or loses its proficiency.

So, how can you determine who’s the right prospect? These are the chief qualities of a good prospect.

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In short, good prospecting will add to the value of your product and service. A bad prospect can waste your time or lead to unhappy customers. Meanwhile good prospecting leads to better customer understanding.

The sales CRM can consolidate all lead information and particular query to a single dashboard.

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This gives easy overview of the present customer variety, preferences and leading sources of customer queries.

  1. Develop panache for Higher Sales Conversions

As a universal truth, only about 40% of the sales executives will fulfill their sales targets. The others usually fail to close the deals or need help to get through the final sales stages.

By handling all activities through an integrated platform, the managers can have an oversight of all undergoing processes. It allows you to consolidate and drive your process forward. This also helps you achieve better sales conversions.

  1. Qualifying a definite Sales Strategy

The role of sales managers doesn’t just end with taking decisions concerning current situations. The end strategy should concern measuring and improving the existing sales strategies.

In usual situations, decision making gets constricted to the steps that may immediately increase the sales volume. For example, the sales manager may try to get over a sales slump by increasing the marketing budget or hiring new sales employees.

Instead of just taking impulsive decisions based on limited factors, the CRM platform helps you take focused and informed decisions.

A CRM software helps you get a 360 degree view of the surrounding circumstances. This may help you answer the following important questions.

Is it getting interest of high quality prospects? Is it maintaining a long-term sales pipeline? Should you offer more pre-sales services to clients? Are clients using your product or service the right way?

The CRM reports help you visualize the collected data to make important decisions in the least amount of time.This increases your capability from just plainly theorizing on your important business aspects.

For example, consider the report that consolidates the lead to sales progress.

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By taking any particular day for the analysis, you can evaluate the quality of the leads. Further, this simple analysis also lets you follow the right steps that lead to maximum performance.

Manage Easy and instant Communications

Most sales managers thrive on making right communication to their sales teams. This may include sales tactics to sales approvals, which cannot be normally pre-meditated.

Kapture CRM instant ticketing and messaging lets you communicate with the sales teams. This avoids periodic delays and gaps in communicating with one’s team.

Conclusion:-

The sales management could be described as a series of decisions, where any single decision may determine your final sales outcome. The sales CRM could potentially help you nail each of these significant decisions.

9 Steps to make a smarter and sharper CRM-oriented sales team

It is no secret that an organization’s greatest strength is a successful sales team. A strong sales team can create a right business image. In the modern era of dog-eat-dog world, organizational growth presents visible and invisible challenges to the sales team that cannot be overcome by grit and sweat anymore. A successful sales team is a combination of enthusiastic team mates, solid leadership driving them in a focused way and the right tool that can become a valuable and efficient component propelling the organization to greater heights. The CRM system is a sales effectiveness software tool that can equip the sales team with data which benefits them on the run.

The following are the 9 Steps to make a smarter and sharper CRM-oriented sales team:
1. Convincing the sales team into CRM adoption
Sales teams are mostly people-oriented and not software-oriented and seem resistant to any change. They do not understand the personal benefits of using a CRM system and view it simply as a management tool that wastes their time. Demonstrating the aspects of CRM such as automating common tasks like providing follow-up reminders, scheduling of tasks, etc.; automatically pulling contact information from email or social media communication; and providing all critical sales information on a single platform will convince them into CRM adoption. Once on CRM, the sales team will have more time to focus on productivity and performance.

2. Providing adequate training of the CRM software
Conducting training sessions enable the sales team to accept the benefits of the CRMsoftware and appreciate its role in improving productivity. Make sure the team is geared up before they use the system for sales activities to ensure a smooth work flow.

3. Enabling Mobility
The sales team should have the luxury of an easy access to data when they are on the go. Mobile access can be offered to CRM systems to make it simpler to login anywhere, anytime making the data available at their fingertips.

4. Collaboration through CRM

CRM gives room for collaboration which works as a catalyst to the system. Different access profiles can be created for the team members based on their individual needs. The software can give access to the real-time data, follow files, leads, cases, etc. And get alert messages in case of any changes. The benefit of social collaboration platforms is being able to access the right people and information on a mobile device through CRM which can be a game-winner!

5. Integrate Configure Price Quote with CRM

Another way to empower the sales team is to arm them with the detailed data from the pre sales CRM software like the source of the lead, whether it is a prospective lead, specifications and requirements to understand the customer better, access to the pricing list to help configure product solutions and price them, and then produce an accurate and attractive proposal to convey that information.
Eliminating the need for the sales team to manually create quotations on separate systems saves a lot of time and energy. CRM can generate documents and quotations based on the requirements and other details. This minimizes data entry errors.

6. Using CRM to drive sales strategy and account planning

Whatever the type of organization, be it a highly transnational business or a very consultative, relationship-based business, a good planning stems from the information stored. The CRM stores all information, ideally in the cloud so the information are accessible on a single platform in real time. The plan is nothing but a link between these pieces of information that hints at a particular approach which clinches the maximum deal for the sales team. The post sales software stores data that help in building reports that highlight activities and trends that predict future patterns of sales. Doing this will help the sales team to draw correlations between the objective milestones in the sales process and the likelihood of winning more deals.

7. Assessing daily plans, pipelines and forecasts with CRM

The sales team must be equipped to assess their plans, know about the pipelines and be able to forecast the consequences of their plans. Creating, assigning and executing daily sales plans can be done using the sales CRM software. The CRM helps in implementing the daily process such as creating realistic sales targets, assigning tasks, processing leads, making transit plans, and managing lead flow. The CRM helps to identify opportunities in the pipeline and total bookings on probability. It tracks activities such as latest opportunities, biggest deals, stalled opportunities etc. This helps to forecast the long term and short term targets. The CRM provides a better picture of the revenue system which helps to collaborate on opportunities that affect the forecast, and do so with a concrete understanding of how the actions will affect the outcome. This is when forecasting becomes truly collaborative.

8. Win-win sales technique is a reality with CRM

The sales team has nightmares when a potential customer is unreasonable and adamant about the demands and gets fixed on getting deal fitting their way. Often, sales people try to convince clients for a win-win strategy, but at some point give in to their demands or folds the demands. In such situations, sales guys often desire, for a common ground at finding a middle ground. CRM analysis provides necessary insights and augments the insights to act in a competitive environment. It also documents difficult client demands in a systematic way which helps in formulating and directing the strategies to make each sales decision with more intelligence.

9. Build a team of top performers with CRM

The sales team is driven by incentives and poaching opportunities from each other is a real snag to the team performance. This could lead to an environment where the customer could potentially pit one sales person against another that is not conducive for a Win-Win situation during a deal closure. The culprit could be an under performer and the root cause could be anything ranging from insufficient qualified leads, ill organized methods of assigning leads, unable to identify hot leads or shelved prospective deals. The CRM application is a one-time solution to these problems. With a CRM system in place there will not be any under performers, the team will have an environment that will help in building an entire team of top performers!

Reference: http://www.kapturecrm.com/blog/