Wednesday, September 3, 2008

How To Boost ROI through CRM Tools

Looking for ways to boost your CRM through ROIs? Let us discuss about some ways to achieve your goals. Whatever CRM solution you opt for, remember that its implementation needs to be quick, well planned and relevant to the target customers in order to be effective.

Boosting ROI through CRM:

1) Inbound Marketing: Inbound Customer Marketing, or ICM, is one of the most effective ways of boosting ROI. The latest development in ICM involves rewarding a customer when he or she calls to know about the products and services of the company.

2) Proportionate Spending: If you are spending more than 70% of the projected profits on software and consulting, then you should look again at the spending patterns. Most vendors overprice their services. Therefore, you need to keep the 70% ceiling in mind before reaching a final agreement with the vendor.

3) Vendor: Choose a vendor as quickly as you can. You should not take long to decide on your requirements and selecting a vendor.

4) Training: Training your employees on CRM should not take more than a few hours.

5) Implementation: Do not waste time trying to make the system perfect. By the time you have every part of the system in place, it will be outdated. Just start working on the areas of CRM that you think are crucial.

6) Plan: Have a plan in place. How long do you think the CRM implementation will take? Try to stick to the deadline that you have set for your business; otherwise, the system runs the risk of becoming outdated.

7) Customization: Every CRM application will need some amount of customization to yield optimal benefits to your business. This does not mean that you should spend days on customization. Calculate the amount of time you need on customization so that you can start with the implementation as soon as possible.

8) Relevance: The CRM plan should be relevant to your business needs in order to boost ROI. See if the CRM program complies with the following criteria: Breadth, repeatability, cost, knowledge and collaboration.

9) Relevance of Data: No CRM program, no matter how sophisticated, is of much use if the data it provides is not relevant. You should be able to use the inputs of the sales staff, customers and agents in a constructive manner in order to boost ROI.

10) Maintenance: If you have a small business, you should not need more than one dedicated staff for maintaining the program.

The guidelines above should help you jack up your ROI through some effective CRM tools. Only well-organized and effective use of the CRM tools will give you the results you are looking for. If you are a small business owner who needs to learn more about CRM tools, you can approach a small business consultant who will help you with the installation and implementation of the CRM program.

Alexander Gordon is a writer for - The Small Business Consulting Community. Sign-up for the free success steps newsletter and get our booklet valued at $24.95 for free as a special bonus. The newsletter provides daily strategies on starting and significantly growing a business.

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