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Identify your need before investing in CRM

By Trushit Buch on June 28th, 2011

I often get asked or see on-line posts asking this question and people seem surprised when I, as an AquaCRM Evangelist, tell then that it cant be answered without more detailed information. This is especially important in the SME market where there is a greater range of options available than in the Enterprise space. Any recommendations without this info would be like asking for the best car or religion, and any suggestions would be akin to the adage If the only tool you have is a hammer, all problems look like nails You need to identify your needs: How many users are you expecting to have? Now and over the next 12-18 months. How many records (contacts and/or companies)? Also now and over next 12-18 months Where is your data sourced from (initial setup and on-going leads)? For example: your web site, external companies, social media, Excel, paper entry

What do you want to do with the data? Reports, email merges, news letters, etc You need to involve internal users at different levels (sales, marketing, management)

Do you want to integrate with legacy systems accounting, ERP or other software? Do you want to integrate with new technologies social media, Twitter, LinkedIN, etc? Do you want remote access remote offices, laptop users, smart phones? If so, do you have reliable internet connectivity?

What sort of security is important to you? Eg should all users be able to see/edit all records? What sort of infrastructure do you have operating systems, hardware, network. Would you be prepared to invest in improving this?

Do you have your own IT? If so, will they need training to administer the new system? What sort of support do you think youll need? What sort of budget do you have?

One common issue is looking at management needs (administration and reporting) over usability if the users find it to complex to use or un-helpful to them, they wont enter good data. Then any reports will be meaningless. You really want to know Whats the best CRM solution for YOU? Anyone who makes a recommendation without knowing or asking these questions cant possibly be answering that.

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How does AquaCRM stack up against sugarcrm?

By Trushit Buch on February 1st, 2011

In the LAMP based CRM world, there are 2 major players providing competing products: AquaCRM(www.aquacrmsoftware.com) and sugarCRM. Recently I installed and tested both of them in an effort to determine which one better suits my needs. Initial impressions Both software packages were easy to install using the SimpleScripts process. The AquaCRM(www.aquacrmsoftware.com) seems to be a bit more intuitive in the user interface area, but not by much. I spent several frustrating hours trying to figure out why some features in sugarCRM didnt work, only to realize that I installed a beta version. SimpleScripts defaulted it for me automatically. As soon as I reverted to a previous stable version, sugarCRM started to behave nicely. The response time of AquaCRM(www.aquacrmsoftware.com) is better overall. Also AquaCRM(www.aquacrmsoftware.com)

has a cleaner look and feel to it. sugarCRM throws advertising in the header area, trying to sell the more expensive versions of its software. sugarCRM Likes Website integration Form quickly able to drag/drop and publish a Contact Subscription form. When the user fills it in and clicks submit, the software automatically creates a Lead in the sugarCRM database. Built-in mailing list functionality with capabilities to track messages that were Bounced, Opened, Clicked-thru, etc. Dislikes Dependency on an outside cron job (scheduling entry) to send out campaign emails. Not a difficult task to setup, but it requires technical knowledge No reports available, only online queries.

AQUACRM - crm software

AquaCRM(www.aquacrmsoftware.com) Likes Faster than sugarCRM Completely free, not just a starter edition with limited functionality. Numerous analytics and reports are included Microsoft Outlook plug-in available for synchronization Many more modules available than sugarCRM: Inventory Module Products Vendors Purchase Orders Sales Orders Service Contracts Trouble Tickets

Available Customer Portal to allow customers to enter and track open help desk tickets as well as FAQs, Products, Services, Documents, Contacts and Accounts. Dislikes No built-in mailing list functionality. One plug-in recently added (PHPListSync) that allows for contact sync between AquaCRM(www.aquacrmsoftware.com) and phpList, but I couldnt get it to work. Similarities There are lots of similarities between the 2 CRM packages, which is to be expected. The concepts of Campaigns, Leads, Contacts and Accounts is the same. So is the ability to create new fields and modify existing forms in the Studio module. Security is similar with Users, Roles, Profiles and Groups.

Bottom line AquaCRM(www.aquacrmsoftware.com) beats sugarCRM in a lot of areas. But the one critical component missing in AquaCRM(www.aquacrmsoftware.com) is the mailing list functionality. In my case, it would have been too awkward to constantly export data out of AquaCRM(www.aquacrmsoftware.com) and import it into a mailing list application CRM ROI No comments yet

Demystifying the ROI of CRM

By Trushit Buch on February 1st, 2011

Undoubtedly, the most common question I hear from companies is How do I cost justify my CRM investment? While project costs have come down over the past 12 to 18 months, this remains a key issue. What surprises me now, however, is that this matter frequently arises for the first time in earnest near the end of the evaluationsometimes right before the project plan is presented to management for approval.

Higher-ROI-from-your-CRM By this time the project team has the expense side of the equation nailed down: software license fees, maintenance, consulting support, hardware, administrative support, training, help desk, etc. The team can recite the dollars-out half of equation in its sleep, but what about the dollars back?

Often what the team wants to hear from me is how other companies have dealt with ROI. CSO Insights has surveyed several thousand CRM projects over the years, and has compiled a wealth of case studies. For example, a manufacturing company reduced its order error rate from 23 percent to less than 0.5 percent; a distribution firm cut the time it took to get new salespeople fully productive from nine months to four; and a financial services group increased the number of leads generated per day, per telemarketing rep, from 1.5 to seven.

crm_360view These are all impressive numbers, but I caution the executive sponsors of a CRM initiative that the numbers only have meaning to the company that achieved them. In no way should sponsors infer that they will duplicate that level of performance improvement simply by buying a similar technology framework. CRM ROI is a personal experienceno two companies market to, sell to, or service customers exactly the same. So how do you go about finding ROI truth? Heres a simple framework: Start by calculating what it is costing your company to not implement CRM. CRM technology is a tool set designed to fix problems. You have to know what your problems are. The ROI calculation is the self-evident result of the process improvement that will take place through the implementation of CRM. We benchmarked the problem for a computer firm: 18 percent of the people calling its 800 number hung up before talking to a contact center rep. For a pet food manufacturer the

issue was a 42 percent error rate in its sales forecasts, and for a distribution firm the issue was that voluntary rep turnover had soared to 48 percent. Having identified their pain point, each of these firms calculated the business costs of letting their respective problems continue to exist: lost revenue from customers hanging up and buying a competitive offering, excessive inventory from buying the wrong raw materials to match inaccurate product forecasts, lost territory revenue from continually ramping up new reps. Knowing the problem and the cost, the CRM evaluation goal was to determine if and how technology could help minimize or eliminate that problem. A company will gain X additional customers by minimizing prospects abandoning calls, will achieve Y dollars in savings by better managing inventory, and see Z dollars for having experienced reps stay in the territories longer. The case of business improvement should drive CRM projects from day one. If you cannot quickly list the top-three improvements you expect to achieve by implementing CRM, you are making the error of looking to buy a solution before you find the problem. Reverse the orderfirst identify the problem, then find the solutionand CRM ROI will then become a much simpler matter. AquaCRM Software, Sales Force Automation CRM No comments yet

CRM Investments Is it Justified?

By Trushit Buch on December 6th, 2010

CRM investment is wasted if the intelligence it delivers fails to influence dispatched communications. How can businesses ensure that money spent on CRM analytics actually begins to benefit the messages that are delivered to customers and prospects? While the importance of getting targeted communications out of the door has achieved mainstream awareness, there is still considerable potential for improved return on investment from CRM systems.

crm-software-system Too often, companies are compromising when it comes to communicating with customers and prospects. The lack of attention to the actual delivery of personalised messages to customers or enquirers is making a nonsense of many companies marketing strategies. Arguably, the need for sophisticated mail has never been greater. Customer retention has become a major issue, with todays multi-channel environment making it easier than ever for consumers to switch brand allegiance. Consumers are acutely aware that the balance of power has shifted in their favour. It is an accepted mantra that attracting new customers costs more than retaining existing customers, and suppliers operate knowing that bad service, or even perceived bad service, is more likely to be met with defection.

CRM Features Today, businesses of every size are realising that intelligent marketing to existing customers can have a profound impact on customer retention and customer growth. High volume prospecting activity has given way to tailored, targeted communications to existing customers the first line of attack in the battle to stem customer churn rates. Building a relationship with the customer via the mailstream, therefore, is becoming an integral part of any business proposition. You need to make sure there are solid IT management systems in place first, however. To maximise the effectiveness of these customer communications, it is necessary to integrate them with the appropriate business processes they connect with, however disparate these processes may seem to be. It is the integration of key business processes and their related information streams into CRM that defines and drives Customer Communication Management (CCM). CCM harnesses the power of specific business processes and ties them to the CRM initiative in order to create, develop, manage, and maintain more effective customer communications. CRM is fundamentally customer facing and outwardly focused. CCM takes this to the next level, by capturing the external customer information and linking it to internal business processes in order to create a more comprehensive picture of the customers behaviour in relation to the company. The goal is then to stay in repeated contact with customers via a continuing stream of out-bound messages that are highly targeted to individual needs and structured to facilitate easy payment or customer action.

Analytical Dashboard But, with so much channel-choice available, is mail still a viable channel? Undeniably, yes. The EU Directive on Privacy and Electronic Communications, in tandem with local telephone privacy laws, places increasing limitations on unsolicited prospecting. Mail, however, is often seen as a non-intrusive and valued means of communication by both businesses and consumers. Whats more, response figures remain steady. Any fears about email displacing mail have long since been dispelled. Contrary to popular belief, Internet users receive more mail than non-Internet users and the difference between the two groups is growing. The claim that a wired household is ripe for substitution is unfounded. Wired households include attractive consumers who will continue to receive mail along with other media from businesses eager to get a greater share of their wallets. CCM can uncover opportunities for lower costs and higher revenues both by developing customer relationships that are more rewarding in every sense and by streamlining business processes so they are less costly, more integrated and more effective. Put simply, CCM is directly focused on determining the best and most cost-effective way for engaging in a continual and profitable dialogue with your customers. Sophisticated data collection and analysis techniques are not enough. Businesses must ensure that this sophistication translates to customer-facing documents if the full value of the mail channel is to be realised.

customer_support_system While the importance of getting targeted communications out of the door has achieved mainstream awareness, there is still considerable potential for improved return on investment from CRM systems. Too often, companies are compromising when it comes to communicating with customers and prospects. The lack of attention to the actual delivery of personalised messages to customers or enquirers is making a nonsense of many companies marketing strategies. Arguably, the need for sophisticated mail has never been greater. Customer retention has become a major issue, with todays multi-channel environment making it easier than ever for consumers to switch brand allegiance. Consumers are acutely aware that the balance of power has shifted in their favour. It is an accepted mantra that attracting new customers costs more than retaining existing customers, and suppliers operate knowing that bad service, or even perceived bad service, is more likely to be met with defection. Today, businesses of every size are realising that intelligent marketing to existing customers can have a profound impact on customer retention and customer growth. High volume prospecting activity has given way to tailored, targeted communications to existing customers the first line of attack in the battle to stem customer churn rates.

Building a relationship with the customer via the mailstream, therefore, is becoming an integral part of any business proposition. You need to make sure there are solid IT management systems in place first, however. To maximise the effectiveness of these customer communications, it is necessary to integrate them with the appropriate business processes they connect with, however disparate these processes may seem to be. It is the integration of key business processes and their related information streams into CRM that defines and drives Customer Communication Management (CCM). CCM harnesses the power of specific business processes and ties them to the CRM initiative in order to create, develop, manage, and maintain more effective customer communications. CRM is fundamentally customer facing and outwardly focused. CCM takes this to the next level, by capturing the external customer information and linking it to internal business processes in order to create a more comprehensive picture of the customers behaviour in relation to the company. The goal is then to stay in repeated contact with customers via a continuing stream of out-bound messages that are highly targeted to individual needs and structured to facilitate easy payment or customer action. But, with so much channel-choice available, is mail still a viable channel? Undeniably, yes. The EU Directive on Privacy and Electronic Communications, in tandem with local telephone privacy laws, places increasing limitations on unsolicited prospecting. Mail, however, is often seen as a non-intrusive and valued means of communication by both businesses and consumers. Whats more, response figures remain steady. Any fears about email displacing mail have long since been dispelled. Contrary to popular belief, Internet users receive more mail than non-Internet users and the difference between the two groups is growing. The claim that a wired household is ripe for substitution is unfounded. Wired households include attractive consumers who will continue to receive mail along with other media from businesses eager to get a greater share of their wallets. AquaCRM can uncover opportunities for lower costs and higher revenues both by developing customer relationships that are more rewarding in every sense and by streamlining business processes so they are less costly, more integrated and more effective. Put simply, AquaCRM is directly focused on determining the best and most cost-effective way for engaging in a continual and profitable dialogue with your customers. Sophisticated data collection and analysis techniques are not enough. Businesses must ensure that this sophistication translates to customer-facing documents if the full value of the mail channel is to be realized.

CRM basic, Contact Manager, Sales Force Automation CRM No comments yet

6 Strategies to Conquer the Chaos

By Trushit Buch on November 1st, 2010

Most entrepreneurs start a business because theyre looking for freedom. More often than not, this dream evolves into a nightmare. All seems to be going smoothly until you get your first customer. Thats when chaos moves in. Before you know it, youve been sucked in and the chaos only seems to mount every time you add another customer.

multiple-system-nightmare

You cant possibly follow up with prospects or customers. Your database is disorganized (assuming you even have one, that is). Leads are falling through the cracks because theres not a full-proof process that you can count on. You add a different system with each fire that needs dousing, and (again, before you know it) you have the chaos that comes with multiple systems. As the brainchild of the business, youre the glue that holds it all together. And yet you cant ever seem to cross anything off that to-do list, which only gets longer and longer. Sound familiar? Over the years Ive talked to thousands of entrepreneurs, and they all share these same pain points. Chaos makes it impossible to grow a small business quickly and effectively. Plus, youll never win lifelong customers if you dont fix your follow-up failure. There is a six-step formula for getting out of the chaos and its helping people take back their businesses and win lifelong customers.

1. Build your emotional capital. You need to find a balance for yourself first. Emotional capital is
the balancing of work, family, and emotional and physical health.

2. Practice disciplined optimism. It starts with the undying belief that your small business will
achieve the success you have envisioned, while at the same time confronting the brutal facts of your current reality and attacking those brutal facts because you want to, not because you have to.

3. Assert your entrepreneurial independence. You carve the path to your own success. If you
dont believe something will work, no one will.

4. Centralize and organize your database. You have to centralize your operations. Most small
businesses live in multiple-system chaos. They house customer information all over the place. These disjointed systems will block you from growing your business. Worse, it will prevent you from wowing your customers.

5. Tap into the magical power of follow-up. Failing to follow up with customers and prospects is
what kills most small businesses. When you follow up with every new lead, you will automatically close more of the hot leads that otherwise would have fallen through the cracks. And lets face it: Some people just arent ready to do business with you today. However, if you nurture that relationship and provide value to the prospect through your follow-up, you can be top-of-mind whenever that prospect eventually is ready.

6. Burn the to-do list and move from manual to automated. Even if you were a follow-up
master, you couldnt do as thorough and complete a job as an automated follow-up system can. If there are multiple steps in your marketing campaign, youre bound to make mistakes at some point. How do you know which contact receives what information, and on which day? If we were talking about managing just a handful of prospects, then maybe you could handle it yourself. But once you have dozens, hundreds, even thousands of contacts to manage, no mere mortal can do it alone. With automation, you get the benefits of follow-up without any of the pain or mistakes. Plus, youll be building relationships that cannot be achieved any other way.

crm-software-system crm software crm software The bottom line? With automation, youre making your business more scalable. Because things are set to run as needed, it really doesnt matter how many prospects and customers you add. The system can follow up with them all automatically but in a customized, highly targeted way. Customer Support, Sales Force Automation CRM 1 comment

Dont Let a Weak Economy Go to Waste

By Trushit Buch on October 5th, 2010

Now is the time to re-evaluate pricing strategies, target the companies that are buying technology now, and invest in relationships with future buyers. Lets look at pricing first. Many technology vendors and their channel partners cope with a downturn by slashing prices. For companies that need cash right now, that may be their only hope. However, cutting prices will create a longterm problem. Unless companies position their price cuts just right, customers will expect these lower prices next time they want to buy. It may be a challenge to raise them again when companies really need to. That is why vendors and channel partners may be way better off raisingprices instead of slashing them. Imagine for a moment that a vendors channel partner is making a 20 percent margin. If either the vendor or the channel partner cuts the price by 10 percent all other things being equal-that price reduction comes directly out of profits. The partner will have to double sales to bring in the same amount of profit. However, how likely is it that anyone in the technology industry will be able to double sales with just a 10 percent decrease? Not very. Now consider this: If channel partners increase their price by 10 percent all other things being equal that additional profit goes directly to the bottom line. One third of their sales can disappear before they lose the same amount of profit dollars compared to the lower price. And then vendors can make up the margin on the back end. Will channel partners lose 33 percent of their customers with a 10 percent price increase? Probably not. Instead, they will establish value leadership in the market, critical for a profitable recovery. Second is knowing who is either buying technology today or will be soon. Within companies, there are always departments that have budgets they must use.

Mission-critical systems for manufacturing, sales and customers service are required to maintain the business. In fact, service organizations often see an increase in demand because customers have time to follow up on open issues, choose to repair versus replace, and may not have in-house expertise because of staff reductions. Aging infrastructure is another area. When system reliability is causing downtime, or products are at end-of-support life, vendors and their channel partners will find motivated buyers. Look into data storage and archiving and disaster recovery requirements. After all, with disaster recovery, theres a highly motivated management staff and an insurance check to spend. Opportunities also exist with departments facing government-, industry-, or customer-mandated regulations. For these groups, waiting until tomorrow is rarely an option. Certain industries also tend to continue buying throughout a weak economy. Healthcare is one of the strongest markets. People will always need health services, and it continues to be a growth industry with deep pockets. Other areas include the pharmaceutical industry, which takes a long-range view, and market sectors that provide the basic infrastructure services others need to run their businesses-such as legal firms, telecommunications (particularly wireless providers), and transportation companies. Other markets are getting ready to spend funds as the economic turnaround begins to build steam. First are those taking advantage of government economic incentives, such as state and local education initiatives and civil engineering projects for road repairs, bridges, and other infrastructure. Companies providing customer must-haves in green technology and services, entertainment, and cutting-edge communication are likely to invest in new technology soon as are start-up companies and entrepreneurs. The third important component is cultivating long-term customers after all, how can you be viewed as a trusted advisor if the customer hasnt seen you for months? If a customer says, I dont have any money to spend, then ask, When do you expect this to turn around? If customers respond with an answer of less than six months, they have strong hope and are probably working out their next plans.

The follow-up question is one of the most powerful in sales. By asking How can I help?, companies open up opportunities to discuss options such as advantageous financing, trade-in towards purchase, manufacture refurbished items at lower cost, services contract consolidation, and off-season deals. The magic of this response is that vendors and their channel partners can frequently find immediate sales opportunities during the plan review that the customer wasnt even aware of. The return to rapid market growth may be slow. However, through pricing strategies that strengthen value leadership, a strategic focus on markets current and emerging sales opportunities, and a commitment to cultivating long-term customers today, vendors and their channel partners can position themselves as leaders of tomorrow. CRM in Real Estate No comments yet

Why we need CRM for real estate industry

By Trushit Buch on September 28th, 2010

Following is a report on Industry issues for Real-Estate, before going on actual problems I have done some research on the industry in terms whom to target for this market segment. Different kinds of real estate businesses include 1) 2) Appraisal: Professional valuation services Brokerages: A fee charged by the mediator who facilitates a real estate transaction between the

two parties. 3) 4) 5) 6) Development: Improving land for use by adding or replacing buildings Property management: Managing a property for its owner(s) Real estate marketing: Managing the sales side of the property business Real estate investing: Managing the investment of real estate

7) 8)

Relocation services: Relocating people or business to a different country Corporate Real Estate: Managing the real estate held by a corporation to support its core

businessunlike managing the real estate held by an investor to generate income Within each field, a business may specialize in a particular type of real estate, such as residential, commercial, or industrial property. In addition, almost all construction business effectively has a connection to real estate. Internet Real Estate is a term coined by the internet investment community relating to ownership of domain names and the similarities between high quality internet domain names and real-world, prime real estate.

real-estate-CRM Real problems in real estate industry 1) 2) You dont discover lead came in on Monday till Saturday. You lose email containing the features that new prospect gave you, which was absolutely essential

for home search.

3) 4) 5)

You miss an appointment. Your prospective client has not called you recently so you forgot to check in on them. A great new property came into the market and you forgot to send proposal as you promised and

now there is an offer on it from someone else. 6) Your new website getting you leads faster than ever, and you keep forgetting to get them in your

pilot or BB or excel. 7) 8) Sometimes it gets too much too keep handle on all activities. When you urgently need to know a contact and its details, you scroll though papers or maybe

your outlook or maybe other systems and lose more time searching. 9) You realize working by referral is best way to grow your business. You have initial list of

relationships. You still feel anxious as calendar, excel your contact manager does not relate to each other and you end up with more unrelated data.

crm for real estate 10) You are moving all the time, before meeting prospect you need buying history or maybe related property listing and you feel hampered as you need to rely on your back office to get information and they in most of the cases take more time to find details.

11) You face problem in controlling cost per lead, as sometimes you lose more money and time on cold ones. 12) Sometimes you feel your competitors are doing the same thing as you are in terms of property

offers and pricing, so then what is the differentiator? 13) Your website is generating lot of interest, you have one property which has most number of views (Interests), but since you are not aware about it. You dont have an open house and all that interest is lost along with losing those prospects forever. 14) You spend your TOP dollars on different marketing efforts Like TV, newspaper, banner ads on website, online marketing, and still nothing concrete comes out of this initiative and you wonder why?. Now the scary part is all that marketing is almost worthless without a real system for documenting and following-up on each lead. 15) You have heaps of papers in your office containing purchase agreements , contracts etc. When a customer walks in either you cant trace the client agreement or you waste time in printing them again. In both scenarios customers needs to wait.

realestateagents use CRM

Now thinking from the broker or developers perspective I checked on the fundamental questions 1. Why does someone buy home from me?

2. What is my goal of real estate marketing? 3. What is the most effective way to market to an existing sales lead? 4. How does my sales team do what it does? 5. How do I track what my sales team has accomplished?

6. How do I manage my inventory? 7. What is the best way to track each lead through the stages of purchasing their home?

8. How do I relate to customers during the sales process or even after its completion? 9. Where does a sales teams accumulated knowledge go when the communitys sold? In todays competitive environment, real estate agents can leverage the power of technology to get more organized, focus on the right properties, and ultimately increase their productivity and sales. We developed AquaCRM, a sales and crm tool for small businesses, to help achieve these goals. Social Media Marketing CRM No comments yet

You dont want social CRM, You want integrated customer intelligence.
By Trushit Buch on September 8th, 2010

Today, everything is social social commerce, social business, social CRM. The list goes on and on.

social-media-CRM Social CRM is one of the worst labels Ive heard in the last few years. Whats disappointing is that it obscures a completely valid concept for helping businesses better understand their customers. Sure, its a way for software vendors to attempt to explain or differentiate themselves using the latest buzzword, social. Lets set aside the fluff and define what this really means, because there is some real value here that shouldnt be overlooked. To a business owner, customer relationships are core to just about everything. CRM technologies are tools to help facilitate interactions with our customers. We need these tools so we, as an organization, can be better equipped to sell to and support our customers. Today there are new ways to interact and engage with customers and prospects online communities and social networking sites. But its important we make a distinction here: There are social networks and there are communities. The two are not mutually exclusive, nor are they identical.

Social Networks Facebook, Twitter, and other similar online properties are designed to facilitate social interactions between people. For example, on Facebook you connect with friends,

people you knew in school, and possibly even some coworkers. You may connect with some customers you know, too, but only as a nonwork-related relationship.

Online Communities Many of the concepts found in social networks such as Facebook and Twitter apply here, but for the express purpose of solving specific business goals and objectives. For example, when Dell uses community software to provide support for its customers, the goals are to sell more hardware, reduce costs, and raise awareness of new products. There is some social aspect, but that is not the purpose of that community.

social-media-CRM-PROCESS So how do you apply these concepts to managing relationships with your customers? 1. Monitor Social Networks Social networks are important as you manage your customers. You should monitor and watch them for trends and feedback. They are a channel through which your products and services may be discussed. Use social media monitoring tools to keep track of any mentions of your brand, product, or services so

that you can properly react or respond to those mentions. In fact, a great strategy here is to respond with a link back to how you are addressing or echoing the feedback in your own community. 2. Offer a Community There are different types of communities that you can run for your customers. In some cases you may run a business community on a social networking site such as Facebook though one challenge this represents is data management. Data, as youll quickly learn, is paramount to understanding your customers and their behaviors. 3. Own the Data The data created for and by your customers is critical to understanding them. It is only through the data that you can derive value from your investment in this new customer channel. For example, Cadence integrated its online community with its CRM software, intending not only to use the community as a resource to help learn more about its customers but also to populate its CRM with that customer knowledge. 4. Customer Intelligence If you own the data from your community, there is a new level of depth you can gain from your customer interactions. Customers will populate data about themselves, the products they use, and their successes and frustrations. Once customer analytics become integrated with a CRM system, you can gain substantial intelligence about your customers: what products they own, what questions theyve asked, where theyve contributed, and which customers are influential thats another list that goes on and on. The answer for CRM vendors isnt reflexively adding social in front of their offerings. Instead, these vendors whose solutions already manage rich customer data should integrate with community platform vendors that provide intelligence and analytics to complement that data. Social Media Marketing CRM 3 comments

Social Media Too valuable for any marketer to loose

By Trushit Buch on August 23rd, 2010

Social networks have unleashed a freedom and candor of communication never seen before. One can pull back and try to analyze the exponential growth of social networks using concepts such as The Network Effect, theories of information velocity, or collaboration theories but the appeal is really just all about the passion people have to be heard and the desire they have to be free in doing so.

social-networking The passion people have to communicate on social networks reminds me of the word Eleftheria (Greek for freedom), a word that reverberates with strong emotions of being able to do what others said you could not. Never mind if those who said you couldnt were governments, or merely bigoted people who judged you because of the color of your skin or your gender or even your appearance. Eleftheriasays those people dont matter. Its a beautiful word and one my Greek immigrant grandparents said with passion and reverence. Eleftheria: Too Valuable for Any Marketer to Waste The best marketers get it: They dont waste or trivialize the Eleftheria bestowed upon them by social

networks the power to serve customers and enrich others. Instead, these leading-edge marketers capitalize on Eleftheria to enrich, serve, support, and strengthen their customers, and to help those customers realize goals. (You have to love the paradox of how the best marketers involved in social networks look to free, not ensnare, their customers.) For any marketer looking to excel at social networking, the most important questions to ask are: How can I free my customers from inconvenience? How can I rid them of unnecessary costs? How can I reduce or remove their problems by sharing more-relevant information? How can I better listen to them?

social-networking Imagine how much more valuable many of the social networking sites would be if marketers asked themselves these questions rather than seeking out virtual bullhorns. Trivializing a social network as a virtual bullhorn is to throw away Eleftheria.

What Makes a Great Social Networking Marketing Strategy? Id like to suggest a contrarian thought to those companies and persons on social networks: The more followers you have, the more people you have to serve. Followers are not there to serve you; you are there to serve them with encouragement, insights, support, and, most of all, the chance to reach their goals. Thats what Eleftheria is really all about: freeing your customers (and followers) to reach their goals. Self-aggrandizement is nothing more than a distraction. Better to be part of customers passionate pursuits than to tell them how great you are. Heres what matters most: being honest; being real; helping your customers (or followers) reach their goals; and reorienting every social networking platform strategy to embrace these values.

social-media-traffic-comparison Think of it this way: Instead of sending thousands of tweets to promote your brand (or yourself), think how powerful it would be to deliver Eleftheria to just one customer (or follower) through social networks? Freeing just one customer or lightening the load of just one follower so much more worth it. Yet it does not need to stop there. There are so many more ways marketers can use social networks to free their customers from time drains, from annoying problems, from costly errors in the approach

to doing business. Circumstances may vary, but no matter the situation trust is earned when you can deliver Eleftheria over and over again to your customers. Here are some ways to go about it:

social-media-marketing

Be very selective in choosing social networking platforms. Marketers who attempt to be on every single social networking platform often fail. Why? Because they cant scale to support the conversations on and unique needs of each. Seeing social networking as a means to an end delivering Eleftheria is the real value. One of my favorite authors, David Meerman Scott, has used the analogy of a cocktail party, noting how annoying it is when you attempt to have a conversation with someone who keeps watching the door for interesting people to arrive. Dont be that person. Actually listen to conversations.

Own your problems in public. Only a handful of companies certainly not enough are doing this on social networks today, but theyre the ones powerfully creating and extending credibility. Comcast comes to mind as one, and there are a few others. By owning even the ugly, messy problems online and striving for a solution together with customers, these are the companies delivering Eleftheria.

Bottom line: Think about those companies and people that really matter to you, the ones you are fiercely loyal to. Then consider the full meaning of Eleftheria chances are, those companies and people are the ones that delivered Eleftheria to you over and over again. In that experience resides the essence of how social networks can be used for marketing. CRM basic, Sales Force Automation CRM 3 comments

CRM Investments Is it Justified?

By Trushit Buch on August 17th, 2010

You must have often heard through business circuits, media and other channels that CRM is an important requirement for all sorts of business sizes and segments. Well, in the tech-driven and fast-paced culture and highly competitive business environment, implementation of CRM initiatives is more or less essential for increased profits and for many other reasons. However, as a small and medium business owner, before you decide to implement CRM systems, you would obviously be seeking answers to several questions regarding Customer Relationship Management Systems. Here is a list of few basic and most frequently asked questions and its answers.

src="http://www.thaicrmsoftware.com/wp-content/uploads/2010/08/CRM-Concept.jpg" alt="CRM-Concept" width="300" height="300" /> CRM-Concept 1. What is CRM CRM is the acronym for Customer Relationship Management. Broadly speaking, the term CRM applies to developing

and managing relations with the existing and prospective customers. CRM involves processes to track and organize customer information. In nutshell, CRM signifies customer-centric business approach.

2. What is CRM Software Nowadays, the terms CRM and CRM software are invariably used interchangeably. In essence, CRM software is a computer program that is used to support CRM processes. 3. Do I need a special CRM software even if I dont have many customers Yes, if you want to sustain in the ever-changing markets and have a leading edge over your competitors. 4. Why do I need CRM Software and CRM Solutions Essentially speaking, you need CRM software systems for ensuring better customer satisfaction, increasing business efficiencies and profitability and for overall growth of the business. For further details, you should refer the next question

src="http://www.thaicrmsoftware.com/wp-content/uploads/2010/08/crm-use-advantage.png" alt="Advantage CRM" width="500" height="495" /> Advantage CRM 5. What are the benefits of CRM Qualify new leads Attract new customers Analyze market trends

 Identify specific needs and requirements of the customers Reduce sales and marketing costs increase sales, revenues, productivity, and profitability Decrease sales cycles Achieve higher rates of customer retention Effective data integration Better customer support Identify new products and service areas

src="http://www.thaicrmsoftware.com/wp-content/uploads/2010/08/img_feature.gif" alt="CRM Features" width="455" height="274" /> CRM Features 6. Is CRM too expensive Answer to this question varies with what type of CRM solutions your business requires. Generally, hosted solutions are relatively inexpensive as compared to customized CRM software installed on your servers. Nevertheless, if you are looking out for affordable yet innovative and exhaustive solutions, you should look beyond the leaders. Nowadays, there are numerous CRM vendors in the markets, which have all the necessary expertise and infrastructure to cater to the growing needs of small and medium business CRM applications. 7. How to use CRM Applications With on-demand and hosted CRM solutions, you just need a PC and Internet to access CRM applications from anywhere and at any time. If you are opting for customized CRM software for your business, you can ask your CRM vendor for training and support. 8. Is it too difficult to set up, operate and maintain CRM No, most of the CRM software programs available in the markets are generally easy to install, run and maintain. Besides, many CRM suppliers provide free training and support. 9. Do I need special IT staff to run my CRM

systems Generally, you may not need dedicated IT support staff, as many CRM companies take care to train your employees on all the aspects of operation and maintenance. 10. What about the security of Data Yes, your data is secure regardless of whether you use hosted solutions or CRM systems installed on your own servers. 11. How should I choose CRM Systems for my small business Many factors go into the careful selection of CRM software for your business. Most important factor is to ensure that the CRM provider is trustworthy and the system can be easily integrated with your existing IT processes. 12. Can I customize CRM systems with my existing IT systems and processes Yes, as a matter of fact, it is generally not possible to design universal applications and therefore, most of the CRM systems are customizable as per your requirements and needs. 13. What are the features of CRM Software Depending upon the CRM solution, you can have numerous features, tools and applications incorporated into your CRM software. Nowadays, many newer CRM systems provide highly intelligent business applications for varieties of industry verticals. Summing Up: CRM is not just a phone book but it in itself is a way of doing business and an intelligent business strategy. Majority of the forward-looking businesses never give a second thought when it comes to spending on CRM systems. With the effective implementation of CRM software, the profits of small and medium businesses can increase immensely. For further assistance, you might get in touch with href="http://www.aquacrmsoftware.com/" target="_blank">AquaCRM software, which provides detailed information about CRM Software Solutions. target="_blank">AquaCRM Software is a Thailand based software company and markets CRM software systems and CRM solutions

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