Which KPI?s to Use in CRM

Customer relationship management emerged in the 1980?s in the form of database marketing. In those tranquil pre-social media days, the possibility of ?managing? clients may have been a possibility although Twitter and Facebook took care of that. Modern managers face a more dynamic environment. If you are one, then what are the trends you should be monitoring yourself (as opposed to leaving it to others).

If you want to drip feed plants, you have to keep the flow of liquid regular. The same applies to drip-feed marketing. Customers are fickle dare we say forgetful. Denizon recommends you monitor each department in terms of Relationship Freshness. When were the people on your list last contacted, and what ensued from this?

Next up comes the Quality of Engagements that follow from these efforts. How often do your leads respond at all, and how many interfaces does it take to coax them into a decision? You need to relate this to response blocks and unsubscribes. After a while you will recognise the tipping point where it is pointless to continue.

Response Times relate closely to this. If your marketing people are hot then they should get a fast response to sales calls, email shots and live chats. It is essential to get back to the lead again as soon as possible. You are not the only company your customers are speaking too. Fortune belongs to the fast and fearless.

The purpose of marketing is to achieve Conversions, not generate data for the sake of it. You are paying for these interactions and should be getting more than page views. You need to drill down by department on this one too. If one team is outperforming another consider investing in interactive training.

Finally Funnel Drop-Off Rate. Funnel analysis identifies the points at which fish fall off the hook and seeks to understand why this is happening. If people click your links, make enquiries and then drift away, you have a different set of issues as opposed to if they do not respond at all.

You should be able to pull most of this information off your CRM system if it is half-decent, although you may need to trigger a few options and re orientate reporting by your people in the field. When you have your big data lined up speak to us. We have a range of data analysts brimming over with fresh ideas.

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Eliminate The Complexities Of Your IT System

There may have been times when you actually spent on the right IT system but didn’t have adequate expertise to instil the appropriate learning curve for your end users. Oftentimes, users find a new system too complicated and end up spending more hours familiarising with intricate processes than is economically acceptable.

There are also applications that are just too inherently sophisticated that, even after the period of familiarisation, a lot of time is still spent managing or even just using them. Therefore, at the end of each day, your administrators and users aren’t able to complete much business-related tasks.

The first scenario can be solved by providing adequate training and tech support. The second might require enhancements or, in extreme cases, an overhaul of the technology itself.

For instance, consider what happens right after the conclusion of a merger and acquisition (M&A). CIOs from both sides and their teams will have to work hard to bring disparate technologies together. The objective is to hide these complexities and allow customers, managers, suppliers and other stakeholders to get hold of relevant information with as little disruption as possible.

One solution would be to implement Data Warehousing, OLAP, and Business Intelligence (BI) technologies to handle extremely massive data and present them into usable information.

These are just some of the many scenarios where you’ll need our expertise to eliminate the complexities that can slow your operations down.

Here are some of the solutions and benefits we can offer when we start working with you:

  • Consolidated hardware, storage, applications, databases, and processes for easier and more efficient management at a fraction of the usual cost.
  • BI (Business Intelligence) technologies for improved quality of service and for your people, particularly your managers, to focus on making decisions and not just filtering out data.
  • Training, workshops, and discussions that provide a clear presentation of the inter-dependencies among applications, infrastructure, and the business processes they support.
  • Increased automation of various processes resulting in shorter administration time. This will free your administrators and allow them to shift their attention to innovative endeavours.

Find out how we can increase your efficiency even more:

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  • (+44)(0)20-7193-9751 – UK
Renewable energy – Is it a common man’s cup of tea?
I came across an article on a young graduate in renewable energy engineering. The fellow was doing technical sales and marketing jobs for renewable energy products though he felt that as a graduate, he ought to be doing more than just sales. His, sentiments, I can relate with but again thinking about the field of renewable energy, how many people understand what it is, its importance/ benefits, how to acquire it, its installation, costs etc.? Renewable energy is energy generated from natural resources. The renewable energy sources include sunlight, wind, rain, tides, geothermal heat and various forms of biomass. These sources are renewable naturally and continuously replenished, therefore this energy cannot be exhausted. Renewable energy technologies range from solar power, wind power, hydroelectricity/micro hydro, biomass and bio-fuels for transportation. Back to the aspiring young professional who felt that his place in the renewable energy sector lies in doing strategies and coming up with new products-the advice fronted to him was that doing technical sales is the best job for engineers, as it helps them impact on users of their products. Sales entail interacting with customers and knowing their needs so that the product features can be enhanced to suit the customer?s needs. Now, that is brilliant and accurate advice. It is however important to take into consideration that renewable energy is not a common man?s cup of tea and right now the focus all over the world is to build green economies. To me the need for more and more people to understand the benefits, savings and cost of renewable energy cannot be overemphasised. Effort should be made to keep marketing of renewable energy products/ services simple and conversational by avoiding use of acronyms or jargon explaining about operational details. More impact can be made if a marketing rather than technical sales approach is used. Technical sales have been described as boring (can be used as a sleeping aid), tends to use extensive vocabulary, jargon and acronyms that product users cannot relate with and tends to discuss the products technical aspects as opposed to the benefits to the customer. Fun should be created out of all this by making things simple and demonstrating cost savings and benefits of renewable energy.
Disadvantages of Spreadsheets

Spreadsheets are flexible, inexpensive and easy to use. They are especially handy when it comes to beating report submission deadlines or making impromptu data computations. That’s why office workers, managers and even executives have made spreadsheets their go-to solution for such undertakings and more.

Spreadsheets have become so ubiquitous, that they’ve found their way into a wide range of applications including complex modelling, accounting reconciliations, market data analysis, work flow tracking and monitoring, analytical review and financial reporting.

Unfortunately, organisations heavy reliance on spreadsheets have made these User Developed Applications (UDA) into high-risk office tools. Simple spreadsheet errors like leaving out a negative sign or a cut-and-paste mistake have already caused million-dollar discrepancies. Also, when a fraudulent employee enters into the picture, the risks become unimaginable.

Think TransAlta?s spreadsheet cut-and-paste glitch (the company later called this a ?simple clerical error?) which caused the energy firm a whopping $24 million loss or Fidelity?s overstatement of its earnings owing to the omission of the minus sign on the spreadsheet of a $1.3 billion net capital loss.

In both cases and in many other similar spreadsheet fiasco, the errors played a major role in the organisation’s decision-making, leading to disastrous results including, but not limited to financial loss, shattered investor confidence and public embarrassment.

If these are scenarios your organisation can ill afford, then it’s time to ask yourself: Do the disadvantages of spreadsheets far outweigh their benefits to merit a call for total liberation from them?

More Spreadsheet Blogs


Spreadsheet Risks in Banks


Top 10 Disadvantages of Spreadsheets


Disadvantages of Spreadsheets – obstacles to compliance in the Healthcare Industry


How Internal Auditors can win the War against Spreadsheet Fraud


Spreadsheet Reporting – No Room in your company in an age of Business Intelligence


Still looking for a Way to Consolidate Excel Spreadsheets?


Disadvantages of Spreadsheets


Spreadsheet woes – ill equipped for an Agile Business Environment


Spreadsheet Fraud


Spreadsheet Woes – Limited features for easy adoption of a control framework


Spreadsheet woes – Burden in SOX Compliance and other Regulations


Spreadsheet Risk Issues


Server Application Solutions – Don’t let Spreadsheets hold your Business back


Why Spreadsheets can send the pillars of Solvency II crashing down

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