Building Blocks to Understanding CRM
Posted by Ron Harris on Tue, Apr 19, 2011
It is surprising how many companies use multiple Excel spreadsheets for their "database" of prospect and customer information. I presented a talk about CRM to a networking group this morning. I wanted to explain some of the basics of a CRM system and I used the example of an Excel spreadsheet with columns of data about a contact.
Here is the image of an Excel spreadsheet that provides the basis for understanding how a CRM system presents the same information.
Now imagine that spreadsheet inside of Outlook and you begin to see the power of Microsoft Dynamics CRM. Here's what it might look like if you were using MS CRM.
The Excel sheet and the image above show one of the "entities" of MS CRM. For companies selling in a business-to-business model, CRM also includes an account entity where you track information about the business. One or more contacts are associated to accounts, but MS CRM does not require you to use accounts so the system works for business-to-consumer. One of the things I mentioned in the meeting this morning was the fact that you want a single location for information about contacts and accounts -- one place to look for the most up-to-date information.
Most CRM systems have entities that hold information about accounts, contacts, opportunities, leads, cases (service), and campaigns. One of the great things about MS CRM is that you can easily add entities to track information about all sorts of things. For example, if you are in the insurance industry, you can create an entity to store information about insurance policies issued to a business, or issued to an individual contact. The options for storing information in CRM are endless.
My talk was about marketing and the things you could do once you had a CRM system, and while I would love for everyone to use the system we sell and support, MS CRM, the key in my presentation was to use a CRM, any of the hundreds that are on the market today.
I talked about how important it is to segment your communications with prospects and customers so that you communicate relevant information to each group. CRM provides a way to do that very easily. You know what you think of the company who sends you a message as if you were a prospect, yet you have been doing business with their company for years.
I talked about how CRM systems can help you do more in less time by using templates to send out information and have it look as if you created the message by hand. Using templates that merge data from CRM is a very simple way to get more done and keep the messaging consistent with what the organization has defined as their standard.
Finally, I talked about workflow or automated processes or having the system work while you're sleeping. CRM systems today have an incredible capacity to do things based on rules you define. For example, do you want to know when one of your A customers submits a service request, then you want to learn more about workflow in MS CRM. Do you want to know when one of your sales team adds an opportunity to the system that is worth more than $100,000, then workflow is the solution. Want a prospect who submits a web form from your website to get an email when they submit a lead then workflow is your friend. This friend even schedules a follow up call for inside sales to call the lead.
CRM is a tool. What it can do for you and your business is almost limitless. Let us help you figure it out. Tell us what you're trying to do and we'll help you determine the best way to do it. Thanks.