Maximizer recently gathered virtually with CRM experts to talk about today’s hybrid workforce and different topics affecting sales for small and medium businesses. Our very own Curtis Barranoik, President at Cencomp, was one of the four expert panelists invited to this live forum on Maximizer’s first-ever “Maxflix” episode. Cencomp was established in 1995, and in 1997 it became evident that a tool like Maximizer would be an essential technology to bring onboard. Cencomp’s relationship and expertise rise from 25 years of experience with Maximizer. The Maxflix series intends to feature a global network of experts for open and honest discussions. In its first episode, Curtis and two other CRM experts discussed “The good the bad and the ugly of a growing business.”
First Data Point: 98% of sales leaders will believe the pandemic will disrupt their businesses for over five quarters.
This percentage is indeed substantial. Given the global experience over the last 18 months, these projections also make a great deal of sense. Everyone has felt disrupted in their personal and professional lives. However, the word ‘disrupt’ has a negative connotation. For some of Cencomp’s clients, the experience has been a positive one. And for others, it is also true that some have been more deeply affected by the pandemic than others. While very nervous at the beginning of this crisis, many companies are now doing well.
Though revenues may have taken a hit, companies that relied heavily on sales in the field shifted to phone sales. Now, these businesses have flourished because their costs dramatically reduced, putting them in a different position to grow. Financial advisors are a sector that we see saved a great deal of money and time. If a person is doing a hundred in-person meetings a year, cutting that back can benefit the bottom line.
A CRM system becomes a tool that businesses cannot afford to overlook. They provide crucial information that people who are not working in the same environment or office need to access. It offers up-to-date information on whom people have spoken to, customer feedback, and what happens with live campaigns.
Second Data Point: High-performing sales teams use three times the number of sales technology than underperforming teams.
The days of working with pen and paper are becoming obsolete as it is both challenging and demanding. Using a CRM daily—even if only using two or three elements consistently—will prove especially useful. Having lots of technology but then not using it is just expensive. So investing in a CRM also means investing in your processes.
Mapping technology to what you are trying to achieve becomes another essential part of your plan. If you are constantly doing the wrong thing, a CRM should highlight alternative best practices for a business. Technology is a support structure designed to bring out more of the best of what you have, so once you understand what you want, it becomes easier to for the experts to provide you with what you need. Those businesses that figure out the processes that matter and get it to work for them will do better business.
Think of tech as one cog in the wheel, but it is not helpful if you do not know how to use it. A company can spend all the money it wants on software and IT, but it is critical to understand how to use it to get your return out of it. The process should come first, and then the support of your strategy should be followed by the right tool.
Third Data Point: 42% of sales reps take ten months or longer to become productive enough to contribute to company goals. (Selling at a rate that exceeds costs.)
Some companies said it takes longer than expected to bring a new person in and train them. When onboarding a new sales rep, it is recommended that their goals be carefully defined. The CRM should be a central point of knowledge where easy access to data is used to bring someone up to speed. For example, the ability to allocate clients by sector, zip code, or other custom group category. If everyone on a team has successfully filled out their call information, it can help a new salesperson learn from what works.
Many businesses share similar pain points. They face challenges in hiring the right people, applying solid processes, and accurately tracking products or services.
Cencomp can help. Contact us today for your free consultation or click here to get your free Maximizer 30-day trial.
To view more of the discussion about The Good, The Bad, and The Ugly first episode of Maxflix – please click here!