I have a sales confession. I have used one form or another of a CRM since 1987. In fact, I was a newly minted commercial real estate broker (salesperson) in NYC. I created my own database with my Macintosh!
I did this not because I was cutting edge. No. I needed help managing 400 dials a day. I also needed help tracking all the tenants of the class A office buildings in midtown Manhattan. The volume of intelligence I gathered was staggering. A smart salesperson would have sold that data to the other brokers in commercial real estate.
Over the past four decades, I have tried most of the popular CRMs out there. Another confession. I have partnered with a platform that has a CRM built in, yet I rarely use the CRM module. It is called Membrain. Membrain. What I mean is Membrain drives the behaviors our sales team must execute. Prospecting. Account Management. Pipeline Development and Management. Coaching.
Your salespeople grumble about the burden of using a CRM. The message you or your sales manager gave them is wrong. It’s a common complaint, but it points to a fundamental misunderstanding. Your team should see the CRM as an outboard brain, not a burden. It’s an indispensable tool. It remembers all you need to know, when you need to know it.
Put more simply, it’s a tool to help them earn more money! As a business owner or sales leader, you need to break the idea that the CRM is an Orwellian device. It isn’t meant to make the salesperson irrelevant. It is to give them the power to win more. Hell, most sales managers have trouble navigating their CRM. They do not plot to usurp the salesperson’s domain.
Here are eight tips to think different about your CRM, and the value it can bring to your team, and the company.
- Competitive Strategy Insights
Are you leveraging your CRM to shape your competitive strategy? If not, you’re missing out on a wealth of insights. Begin by capturing every competitor you displace. Note who they were and why they lost the client. To gain market share, create a field in your CRM. It will identify which competitor owns each listed client. This competitive intelligence can inform your strategy. It will help you systematically win over your competitors’ clients.
- Trend Tracking Benefits
Using your CRM to document market trends is a game-changer. Record observations from your sales interactions. These include feedback about competitors’ pricing and products. One isolated comment might seem trivial. But, if you notice a pattern, it could signal a big trend. Tracking this trend let me spot a competitor’s predatory pricing in the fire alarm industry. This let me adjust our approach and protect our market share.
- Industry Insights
A well-maintained CRM provides invaluable insights before you even step into a meeting. Imagine you’ve secured a first meeting with a prospect in a new industry. Your peers have already closed deals in this sector, and all the relevant information is in your CRM. You can review the documented challenges and solutions. They resonated with other clients. This will prepare you to make a strong, informed presentation.
- Client Relationship Records
Your CRM should be the complete record of your relationships. It includes both current and potential clients. If your goal is to get, grow, and keep clients, these records are invaluable. Forget the Post-it notes. Log every interaction and bit of information in your CRM. This central repository of data is a strategic asset. It can transform your client management and drive business growth.
- Customer Segmentation
In my book, “Scale Your Sales: Avoid the 7 Mistakes CEOs Make with Their Sales Organization,” I argue for setting clear targets for your salespeople. The team needs help with aligning their sales tactics to the business strategy. Each rep should segment their targets by revenue potential. Break these into segments. Dream Clients. Bread and Butter clients. Loyal but small clients, etc. This ensures regular touchpoints with every prospect monthly. You can also segment by industry if that aligns better with your strategy. Your CRM should help with this splitting. It should allow for a systematic, prioritized approach to prospecting.
- Better Operational Execution
Imagine winning a new client because a competitor failed. But, then your company made the same mistake. By documenting why, the client fired the previous vendor. You can also document what they expect moving forward. This will help you avoid repeating those errors. This vigilance ensures that your team delivers high-quality service. It fosters long-term client relationships.
- Humanize Automation
Membrain can automate follow-up emails. This guides clients through their buyer’s journey. We create scheduled and pre-written the emails. They should have valuable content. This content should help clients make decisions. Done right, automation can make your sales process better. It makes it more efficient and effective.
- Follow-Up Task Management
How many deals does your team lose by not following up? Your CRM is your best assistant. It reminds you of tasks before they slip through the cracks. Forgetting a task can make you seem unreliable to your contacts. It could hurt future business. Your CRM helps by recording and monitoring follow-up actions. This maintains your image and efficiency.
This short video clip from a episode of Sales and Cigars with Paul Fuller the CRO of Membrain might be fun for you to check out.
Conclusion
A CRM is not just an administrative tool. It’s a strategic asset. It can drive big business growth. You can enhance your strategy by using a CRM like Membrain. It lets you track industry trends and improve your sales processes.
Encourage your sales team to view the CRM as their outboard brain. Help them see how they can do more in less time and make more money. This will drive adoption. Watch as it transforms their efficiency and effectiveness. The value of a well-utilized CRM is immeasurable, and it’s time to embrace its full potential.
