Customer Relationship Management has become a need for sales department of every organization. However few companies are still using excel sheets to manage their prospects, leads and accounts.. And trust me…..Customer Relationship Management has become a need for sales department of every organization. However few companies are still using excel sheets to manage their prospects, leads and accounts.. And trust me….. They are getting business too…..Ever wondered then why do companies today buy CRM solution to manage their leads and accounts? An Economics times report states “CRM developer companies have increased their revenue by almost 30% in last financial year” which indicates the surging demand for CRM, and its effectiveness in generating constant revenue stream for companies. How does a good CRM achieve this over excel?
Know your customer: As stated by John H. Patterson, Father of modern sales “ a sales person should have enough idea about their prospect before making any call to them”. In Excel sheet, it’s almost impossible to plugin all this information, whereas in CRM system you can record every single detail and refer back to it when needed. How about integrating linkedin, google search, database search and much more to know your prospect inside out.
Never miss a follow up: Joe Girard, one of the best sales person ever, says “a sales person can increase their sales by 200% if they are following up with prospects on time”. A good CRM system allows you to create timely follow up reminders, and never lets you miss one. Managing follow ups with excel is simply a dream. No matter how good you are with excel, your team will end up in leakages during follow ups. Eventually leading to a loss of time and effort spent in building that first contact with the prospect…what’s the point if can’t follow up?
Email marketing: David Ogilvy, the legendary advertising executive who created iconic campaigns for Hathaway, Dove, Schweppes, and Rolls-Royce speaks out words of wisdom, “In modern sales, cold calls will be replaced by digital marketing, email campaign being one of them”. As per him “if you are running email campaign for correct target audience, you can increase your sales by 100%”. It’s very difficult to run personalized email campaign with different templates using excel sheet even if you are using macros. Excel sheet doesn’t possess the capability to give you the exact stats for your email campaign which include open rate, click rate, bounce rate and more. A good CRM, on the other hand allows you to create effective targeted email campaigns which you can track.
Execute your sales plan more efficiently: Usually the Sales Head of an organization defines a Sales Plan for his team, however as per experts “if the team is using a good CRM then the success rate of sales plan execution is high”. In Excel sheets, you cannot track the real time progress of your team members and match them against the target quota. However a good CRM allows you to track real time activity of your sales team, and respond to their negotiation approval over proposals.
Even after several drawbacks of using excel sheet to manage leads, companies are still using it to generate business. However, it is like throwing a stone in the air with your eyes closed, and you would never know when and where it hits. The choice is yours…. Targetted reach Vs Random reach.
Tags: CRM, quota, sales team, managing lead, prospect, customer relationship management