Top 3 ways to sink the ROI of your CRM

2 More Ways To Sink the ROI of your CRM

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Part 1: Top 3 ways to sink the ROI of your CRM

This blogpost is Part-2 of the series “How to [well…be naive] and Sink your CRM investment”. Now, I’m sure you don’t want that at any cost. So go out refresh yourself on the first part of top ways to sink your CRM investment and then prepare yourself to side step two more CRM traps that many businesses like yours fall into.

1. Adopting CRM in a Specific Department

Ever wonder that every business revolves around that one key department? Don’t you always have that one department in your company which gets more privileges than others? And this is most true in case of adopting technology first.

For examples you might be a marketing consultancy, a logistics company, in the health care provision sector or an online retailer. In each of these cases, there’ll be a one department that is in direct contact with the existing or potential clients and this is exactly why it gets to have a CRM. But is this approach any good?

No, instead it is a sure way to sink your CRM investment. Consider this scenario. Your company thinks that since only Salespeople interact with the clients and hence can benefit from using a CRM solution. What needs to be understood is that the Sales department does not work in isolation from other departments. It has to consistently intermingle with Accounts, Supply Chain, Production, and most importantly marketing to give the clients the best Sales Experience.

What will occur if only the Sales department adopts a CRM?

  • Your Marketing and Sales departments would be on different pages without a unified vision.
  • Salespeople would not be able to benefit from the marketing plans which is an absolute must
  • The input of your salespeople is mandatory to get required results from marketing campaigns
  • There can be a future tug of war between the two departments on what the customers want and how to provide that?
  • Both departments may get completely different customer insights because of several customer touch points, which a CRM unites.

Key TakeAway # 1

What needs to be understood is that a CRM should never be limited to a single department. This way you are decreasing both the existing and potential benefits of adopting a CRM solution.

2. Thinking that a CRM solution will lead to Customer Success

Do you know who gets the blame when companies find it hard to get results from their Sales or Marketing strategies? Their CRM solutions!

Yes, it is very convenient to blame the CRM solution which cannot plead its innocence in the whole process.

I agree that in some cases it is the CRM which is not customized or not integrated to the exact needs of your business and that is why you don’t get the desired results. But, trust me, it is ‘YOU’ who sinks your CRM investment by thinking CRM solution is all you need to give your clients the best Client interaction possible.

Let me remind you that CRM is ‘Customer Relationship Management’ and a much broader term than what meets the eye. The focus should therefore be on the customers rather than the CRM solution. So the next time you don’t see the desired results, reach out to your customers, talk to them, survey them, ask them for their feedback on your services. This will help you give your clients the most incredible customer experience with your firm the most individualized experience you can.

After all, you can’t be a pro at CRM without knowing your customers first.

Key TakeAway # 2

Investing in a CRM solution will not start harvesting results for you. It’s you who drives the CRM. Therefore start planning your CRM strategy now which will be a mix of two elements; You & your CRM solution. You can amaze your clients only when you strike a balance between both of these.

 

Loved this post? Check out more tips and tricks on increasing the ROI of your CRM here.

If you can relate to any of these costly mistakes, visit our website for free consultation and successful CRM implementation. You can also Contact Us here.

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