The most valuable tool for your VP of Sales and VP of Marketing is a clear understanding of the RESULTS. And it MUST be a connected system \u2013 you need to know which marketing programs delivered your sales and which ones flopped. It does you absolutely no good if the systems are disconnected. If your marketing team can tell you which programs delivered leads, but can\u2019t connect to sales revenue and profitability, you do not have what you need. If your web marketing team can tell you how many visitors requested your free trial, but you can\u2019t link the request to an eventual sale, or lost sale, you do not have what you need. If you have great sales reports that show the geographical spread of your sales, or user size or whatever other metric you like, but you don\u2019t know the source of the lead, you do not have what you need. And quite frankly, many small to mid sized companies have exactly that. They don\u2019t have what they need. <\/p>\n
How does this happen? In my experience, and I don\u2019t claim to have the only possible experience here, this is what happens. <\/p>\n
In the early days of the company, it\u2019s all about making those critical first sales. The company may not even have a marketing function, and if it does, odds are it is pretty tactical in the early days even if there is a strong marketing person on board. There is just too much to do. <\/p>\n
Then one day somebody says, let\u2019s put on a show. No seriously, Andy Hardy notwithstanding (if you don\u2019t know who that is, ask your parent or grandparent, or look it up on the web, search word Mickey Rooney), pretty soon everyone realizes the company needs some sort of contact management system. So they go out and buy a decent contact manager like GoldMine or Act. So far so good right? WRONG. <\/p>\n
In my opinion, this is where the hidden data mistake starts. <\/p>\n
The system works pretty well, and sales people become more productive. Marketing is able to get some customer and prospect data out of the system, so they have a better idea of the lead flow. Everyone\u2019s happy. <\/p>\n
So, the company takes the fateful step. It decides to use the same database for customer support. But the database needs a few extra things, so the support needs are tacked onto the sales database. Sometimes using custom programming, and definitely stretching the capabilities of the contact management system. Soon enough the whole thing gets bloated with fields and keys and whatnot for every possible permutation of prospect and customer. Eventually, the system ends up meeting no one\u2019s needs particularly well and definitely making everyone miserable. <\/p>\n
If all this happened really quickly, there would be no harm done. You\u2019d say, mistake made, let\u2019s move on. Unfortunately, from beginning to the day the company realizes that all its data is stuck in an over-taxed contact manager typically takes a couple years. By which time so much operational data and corporate history is stored in the system, the thought of replacing it with something else is overwhelming. Even though no one is really getting what they need. <\/p>\n
So what\u2019s the alternative? <\/p>\n
Here\u2019s the scenario I\u2019d like to see. The very minute someone says, let\u2019s get a contact manager, step back and analyze your company\u2019s current and future sales, marketing, support and operational data needs. Do the hard work of identifying the processes your business will need as it grows. If you can, make the investment in a CRM system that will meet your needs immediately. If you can\u2019t make the strategic investment right away, put it in the plan. And do it as soon as you can find the cash. <\/p>\n
Your customers are the lifeblood of your business. Managing your relationships with them is too important to be left to chance. Or stuck in an outdated contact management system. <\/p>\n
Next up: lead ratings, and how they both power, and empower, your sales and marketing.<\/p>\n","protected":false},"excerpt":{"rendered":"
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