Customer Relationship Management Strategies in Times of Crisis

The current customers are the key to overcoming the current economic downturn. Attracting new customers costs between 6 and 13 times more expensive than the preservation and sale on existing ones. Under normal conditions, companies lose about 50% of existing customers average on every five years, while the difficult attraction of new ones in an environment of shrinking market and financial crisis, imposes to look at this as a cost-effective source of revenue. Effective management of customer relationships is essential in times of crisis and organizations can use customer – oriented strategies and Customer Relationship Management (CRM) tools to maximize the value and loyalty of their customers to open up new opportunities not only for survival but also for development.

Should the customer relationships be managed?

The typical client no longer exist and some companies learned it by the hard way.Until recently, business was more concerned about what sells. In otherwords, companies focused on selling as many products and services without giving importance who buys them. Still, many companies are product-oriented, based on its organizational structure and bonus plans on the products, which they sell, than on customers who buy them.

Modern companies have already changed or plan to change their organizational structure and information from product to customer-oriented, applying reengineering on core business processes and laying the groundwork for transition to the next stage of their development – active management of customer relationships.

If we perform an analysis, we will see that focusing on only 5% of loyal and valuable customers can increase profits by 25% to 70%. This, together with the fact that it costs much more expensive to sell to new customer than to an existing and loyal one, motivates companies to try to maximize their existing customer relationships. Also, dynamic market environment and business conditions make it necessary to take into account the following factors:

– Changed organization of work: In today’s business and corporate structure often professionals working in the departments of marketing, sales and customer service rarely and sometimes never made direct contact with customers. CRM is a business strategy, philosophy and technology that aims to fill this gap.

– Changed business environment: Changed is the behavior of customers and it is not the same as prior years. It is becoming increasingly difficult for companies to operate, meeting the symptoms of “marketing fatigue” in potential customers. The increasing variety of marketing and communication messages to customers, leads to the effect of continuing contraction of the benefits of traditional marketing tools and for the search for new ones.

– The increasing complexity of markets: The increasing globalization leads to the emergence of new competitors that offer completely new products and services.

Leadnxt – Lead Management And Marketing Software

LeadNXT softwares, services focus on achieving the best possible sales results, and keep a track of your business leads. Our process is to manage, communicate with potential clients in a way that allows for analysis and automation to be used to increase the efficiency of sales to reach the goals of a business.

LeadNXT is the leading cloud computing providers, which focuses on managing, measuring and automating leads through sales and marketing strategies. We give you the best solution to your problems and direct customers to web-based solutions.

We offer the best CRM software, which helps businesses to maintain customer data and customer interaction. It manages a business’ customer relationship. It also manages the business contacts, clients, gain contract and sales lead. We provide best and possible service to our customers, every time they engage with our organization. It helps in producing lead management process as per your organization sales process.

LeadNXT CRM software is the best customer relationship management service. Our software makes your life easier as it takes control of all the process. We satisfy our customers with the leading customer service. Our CRM solutions are the best in cloud computing products, helping companies in all sectors to increase customer satisfaction and gain revenue. It improve you sales, service and marketing effectiveness. We deliver the top-notch experience to our customers. It helps in facilitating faster sales lead distribution.

LeadNXT meets the needs of companies of all sizes. Our lead management and lead tracking gives a complete view of customers. The results are focused on the lead management effort that brings positive change into sales.

Our Sales Management Software helps in increasing the operational efficiency by integrating sales processes across enterprise and extending your sales reach through partners. It helps in managing the sale team and grows your business. It improves sales execution using sales analytics.

The Sales Management software, understands customer’s perceptions. Our service can help your customer relationship management and sales management to new levels of success and improve levels of client retention. We help your customer relationship management and sales management to new levels of success and improve your levels of client retention. Our sales management software is easy to implement and customizable for your business need.

The Sales Lead Management is a marketing strategy to increase revenue and effectiveness for business growth. We help a business to generate its revenue. It focuses on building a ladder of success for businesses through the process of managing sales lead. The process include, developing qualified leads, nurturing leads, distributing them quickly, capturing the source of the lead, then we deploy a CRM solution for a perfect result.

Lead Management Software And Sales Force Automation Process-benefit Of Implementation

Lead management has become as essential part of modern business management because nobody nowadays can afford to loose business for the sake of miss coordination. Proper management of leads are now has becomes completely automated process and the credit behind this automation goes for the efficient role played by Lead Management Software.

Lead managing process works in a 2-fold manner; on one side it works as sales support process by accumulation of generated Internet leads, initiates proper distribution of these leads and imposes automated lead tracking process. Whereas the manual process of lead managing system may have the chance of human error, the automated process has no provision for it. Therefore the output derived from these initial three sub-processes of lead management provides accurate data for the input of sales team.

Implementations of sales force automation is required nowadays for several reasons. The back office activity is maintained by lead management software and in case of software driven system hardly there is any provision for fraudulent activities, unscrupulous use of existing data base, and inefficient distribution of leads which is an improved platform for better scale of sales.

In case of manual process, besides the chance of generation of errors, there is recurring problem of efficiency level as well as the unpredictability of TAT [turn around time] which can be absolutely minimized with automated system and as result renders better result for over all output of the business unit.

In the recurring terns of global economy turn down, output and statutory expenses have become a major concern for every business unit; automation is one of the efficient way-out to solve this problem. The inefficient and multiple people-involved processes can be rightly substituted by automated processes and as sales force automation is the relevant requirement todays sales administration for better and over-all accurate module of modern business administration, the process should have proper support from another automated system which can rightly be arranged by using Lead Management software for right implementation of professional and automated lead management system in the administration process.

A sales force automation process reduces the chance of lead lost and bridges the gap between generation of sales leads and maturity of those leads into sales prospect. While the conversion rate of sales leads turn into prospects is good, it generates two purposes; one is increase of satisfied customer base of the business unit and second is having a comprehensive concept about the marketing policy of the said unit for further business expansion.

Lose of sales data and loss of track for sales leads are common malpractice of sales system if it is done in manual process because a manual process by its default allows several access for the data base. On the other hand sales force automation required proper processed and filtered data in order to boost up over all sales figure and reduce the issue of customer dissatisfaction by implementation of relevant and professional CRM solution.

If we have an over view of the whole process of business administration, we will definitely found that sales force automation generated data and info for CRM solution and lead management software helps to generate and cater the relevant data for different modules on the same platform.

Insurance Sales Tracking For Increased Sales

When you struggle to track where prospects are in your sales funnel and how likely they are to do business with you it’s easy to drop the ball and miss prime opportunities. Many tracking systems are complicated and unwieldy. You need a simple tracking system. You need to know at a glance exactly who your prospects and leads are, how likely they are to do business with you, their contact information, the commitments agreed upon during your last contact, and the next action you must take to close the business.

And you need all that information in one place. Sales is a hectic fast paced business. You need to know exactly who your prospects are at any given moment. When you try to track all your prospects in your day planner, a call sheet, or many CRM’s you really can’t access everything you want and need to know quickly and easily and everywhere you are.

You can use a single sheet to record all the information you need to track your sales funnel. This will make the whole tracking process easier for you. Plus it helps you to have everything you need in one location when you need it.

Prospects don’t usually enter and exit your sales funnel as customers in one step. Most sales cycles involve multiple and incremental steps that occur over a period of time. Some sales cycles are extremely long especially when the sales involves high ticket decisions. The sales cycle itself poses a stumbling block for many sales professionals.

Define the required steps for advancing the sale in your sales process. Based on your sales experience what sales techniques do you have to advancing a prospect that doesn’t fall within your standard sales process? You’re sales success depends on your ability to move people through the buying selling process. If you don’t have a next step option for your prospect you can’t expect them to come up with one for you. Plan clearly defined advancement options that both you and the prospect can agree to. If you don’t have advancement options you have to have far more leads in your sales funnel that someone who does. You’re letting valuable prospects slip through your fingers because you don’t have a plan for keeping prospects on track and on board with your solution.

All too often sales professionals drop the ball and allow months to pass without taking the appropriate next action. This probably happens more often than you’d like to admit or than you even realize. These time gaps hurt your relationship to the point where you almost have to start over with the prospect. You’ve lost your connection and now they don’t trust you because you’ve demonstrated that they can’t count on you. That kind of relational damage is hard to repair. Effectively tracking all your leads and prospects and the next actions you’ve committed to reducing the likelihood of dropping the ball. It’s much easier for you to monitor your entire sales process and everyone in your sales funnel, and you close more business.

If you want consistent and predictable result you have to know exactly how many people you need in your sales funnel at all times. As soon as you close a prospect you know you immediately need to replace that prospect in your sales funnel. Through experience you’ll discover both your capabilities and limitations. You’ll discover how many leads you need to consistently generate to produce prospects for your sales funnel. Eventually you want to develop lead generation systems that produce the right number of new prospects entering and leaving your sales funnel as customers so you obtain the sales objectives that fit your needs.