A majority of CRM users focus on sales and marketing process heavily weighted to drive leads toward new customer wins. New customer wins, however, should not compromise processes and programs that drive additional share of business from existing customers.
This dual strategy is especially prominent in industries that offer multiple products and services, such as office products, janitorial supplies, automotive products, building supplies, or any distribution industry. As companies balance their dual strategy of getting new business while growing existing business they should do so keeping the following widely known truism at the forefront:
It's four times easier to get more business from an existing customer than it is to win a new customer.
As companies commit to a dual strategy, they need to make sure they have the necessary software solutions in place. The following two are essential to integrate with a CRM system:
It’s also essential that these two software solutions are integrated with a top CRM system such as SugarCRM. Let's look at the aggregate power these solutions bring:
Marketing Automation software such as the leading Act-On drives targeted email campaigns based on an existing customer’s share of business. This information can come from sales intelligence software such as the one described below.
Sales Intelligence software such as sales-i offers unlimited and highly granular levels of customer information comprised of customer buying history. Users create campaigns in sales-i that sync to SugarCRM, then sync to Act-On to drive the automated campaigns mentioned above. This is powerful integrated technology that results in the ongoing increased share of customer business.
Of course, salespeople play a huge role in this strategic focus. Thus it's important that customer buying history and campaign information is all resident in their CRM system. This ties it all together and literally gives the sales person two virtual sales assistants in the sales process to help them drive more business from their customers.
In summation, the technology suite outlined here gives companies the sales and marketing resources to drive more business from existing customers. However, gaining new business from new customers also has to be part of the mix. CRM and marketing automation with lead and opportunity management play a huge role here. This will be covered in a follow-up blog – be on the watch for it.
CRM International and its Longbow Consulting Group division provide CRM implementations and process-driven solutions.