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June 15th, 2021 by

Introduction
Understandably the price of a software purchase is always a topic to cover when we discuss on-boarding clients. Many times this is the point of interest driving a potential customer (Prospect) to reach out. There are a number of details associated with understanding the price a new client will be asked to pay. Categorically software has a unique sales proposition with actual product pricing and the typical training budget allocation. Past those details, a future CRM client should understand “Maintenance and Support”, customization (AKA Configurations), and the potential cost of a failed implementation.

Before we get down to the topics detailed above, any organization looking for software to support infrastructure should know software solutions are considered intangible fixed assets. Whenever the owning entity controls those assets through custody or legal rights (i.e. patent, copyright, licensing) – and because they normally provide benefits to the end user for longer than one year, they are also considered to be capital assets. Thus, expenditures on software/development resulting in the creation of a capital asset, are capital expenditures. This is a great way to justify costs and understand the true value of a CRM. Many Owners or C-Level decision makers overlook this detail when realizing the depth of a software solution.

Takeaway: CRM is a capital asset in execution and expense!


Road Map

I like to start with a list of goals. Generally this is collaboration between leadership and those people organizing day-to-day workflow in a solution set. In my approach, we define Progress then workout the very specific activities users will execute leading to measures of success. In my world its CRM objectives review. I accompany the exercise with a Workbook and a loose Project Execution Plan. This is how it looks in short form:

This fundamental discovery process is based on understanding our potential client’s (Prospects) knowledge base and the depth of the software. Most of the time CRM searches start out very narrow, typically rooted in a few superficial features and function interests (Mobile and Simple to use). Because companies don’t know what they don’t know, I comprehensively drive toward a focus on Revenue creation strategy. Ultimately the standard of a successful investment is the return it brings.

Takeaway: Know where you’re going!
Purchase
Now that we’re clear on the back story to getting pricing, let’s pick this up where I left off in the opening paragraph. I differentiate price from cost so keep that in mind while you read these details.

Overall development services and training are based on predicted hours. Our project team and training staff give estimates based on scope of defined work. We outline project plans to quantify task hours, then summarize the total hours to offer blocks of time at discounted rates.

Validating and navigating the purchase phase is a combination of understanding software capability, company awareness and the organization of an internal project team. We certainly can determine some type of price early in the purchase cycle but because of the nature of CRM deployments, understanding what we charge for gives a global understanding of the total project impact.

Takeaway: Know what and why you’re buying!

Closing
When asking for a demonstration of CRM, looking to test run what the software could look like for your organization, be aware. The price per license, per month is for comparative purposes only; so expect to pay annually for a term. Past the price, know if your organization needs a small contact management system or if account management is truly the front office system of choice. The product you are looking at is considered a Capital Expenditure for a reason.

Finally, the cost of a CRM purchase has an unknown value associated with it. To minimize cost, consider people and business processes to define a solid go forward strategy. Once these 3 internal tenants are determined, search for a right fit solution. The price of the product and implementation is a fraction of the cost a company can incur due to a haphazard deployment. Defining system activities measured against progress goals influences buy in. A scaling operation has exponential Return On Investment, so define how CRM equates to Revenue on the P&L Statement.

Takeaway: If activity drives progress then CRM scales Revenue!

Want to get to know more about Infor CRM? Learn Here Or reach out to us at support@simplesoft.net



Simplesoft Solutions, Inc. is a customer relationship management (CRM) business consulting and software development firm in Cincinnati/Dayton OH surrounding areas. We provide implementation, integration, development and training for Infor CloudSuite CRM (formerly Saleslogix). We have built our business on an ability to creatively adapt CRM to meet the varying needs of our customers’ businesses. We have been helping our customers develop stronger relationships with their customers through improved sales, marketing, customer service, and support processes since 1994.

 

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June 30th, 2020 by

Don’t let your data go down a black hole. Keeping data clean and useful in CRM’s is usually a tough task for companies. You have multiple departments and users accessing and using the data. Simplesoft Solutions assigning someone at your company to be a Data Steward.

Who are data stewards?
Typical data stewards could include employees who are experts for one of the following;  Subject Area, Organizational, Business process, Application level, and Project level. Additionally, they can be categorized into two types; technical or business data stewards. The larger the company the more the roles will be defined and segmented. Also, a formal governance should be established; such as a CIO (Chief Information Officer), CDO (Chief Data Officer) and a governing body that establishes policies and procedures. Sometimes this is as simple as working with your IT department to set the hierarchy.

Why do you need data stewards?
I would like to focus on the qualities and skills essential for the Infor CRM data steward combination role needed for most mid-enterprise companies. The role of the data steward is a critical one of watching over and caring for a valuable resource for your firm. Yes, it’s data. It is not a resource that is scarce because it seems that “data” is everywhere. It is a role that is greatly overlooked in most companies as the data is there, right? But there is great potential in managing this data well and how it flows between departments, information systems, organizations, and customers. Accurate data allows accurate reporting to measure company progress, market saturation, user interactions and to help a company succeed. In smaller to mid-sized companies the data steward(s) is more of a role than a formal title. How should you decide who should own that role and what are they responsible for anyway?
The organizational “thinking” must be ready to be a data-driven culture. There are areas of interest that companies should consider like products and services being offered, the business model and structures that support them, and the business models that need to change and shift with the markets that are being supported to produce new goods and services. In the smaller sense, a good goal is just looking for the consistency and the accuracy to allow timely sharing of data in the form of reports, dashboards, and BI (Business Intelligence) for taking action on the executive level as well as the front lines.

What qualities should a data steward have?
In terms of data stewardship, the roles can be divided or blended. If the roles are divided then the technical is more of the custodian/corrector of the data and the business role is more the coordinator/tracker of the data. The stewardship role leans more towards business, but having the ability to change the data and being technically savvy, is the best combination. For SME’s (Small and medium-sized enterprises), a combination role of both technical and business will increase the cohesiveness of the company and ensure success in data and process accuracy.
The knowledge and skills are mainly organizational first and protecting the integrity of data second. They must understand the business direction, processes, rules, and requirements for getting tasks done. They should be able to influence business directions and gain business area commitments. They must be able to coordinate and create relationships internally to communicate the business rules and definitions. Most importantly, they must then work to make sure the data delivers accuracy for the direction of the company and those system users, integrators, and system admins are trained on how to do that properly.
The data steward role is important to help manage and maintain an important asset to the company, data. The data steward must work together with business leaders, system users, and technical people to be aligned with the direction of the company. It is not an easy job and requires thought before placing people into this role that possess the right mix of skills and personality. You must keep your data clean to effectively utilize Infor CRM.

Related Blog Posts: Keeping Data Clean – Bulk Updates

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Simplesoft Solutions, Inc. is a customer relationship management (CRM) business consulting and software development firm in Cincinnati/Dayton OH surrounding areas. We provide implementation, integration, development and training for Infor CRM (formerly Saleslogix). We have built our business on an ability to creatively adapt CRM to meet the varying needs of our customers’ businesses. We have been helping our customers develop stronger relationships with their customers through improved sales, marketing, customer service, and support processes since 1994.

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August 29th, 2019 by

As time has progressed, I feel like people understand less and less the differences between Marketing and Sales. For some reason companies twist the two together thinking they’re optimizing the organizations ability to create sales. With snazzy phrases like “Synergistic Approach” and “LEAN Management Structure”, the current trend is do more with less, to keep costs low. The reality is NOT concentrated effort, these cost saving measures are actually diluting and fragmenting a customers ability to Know, Like and Trust. Let’s look at the difference between Marketing and Sales.

*Terms to Know

General Audience – Anyone and everyone with the possibility of consuming adverting or held within a Marketing Channel. Examples would be general email lists, people on Facebook, people on LinkedIn, people on YouTube, people listening to the radio, people watching TV, people in the eye shot of smoke signals, people within a few miles of an airplane writing smoke signals. Marketing is constantly refining messaging based on it’s ability to pull in “Perfect Customers”.

Suspect – These people are lightly engaged with a business, consuming information on one or more communication channels. Generally suspects have never purchased from the company and are starting to buy into the value proposition of one or more products/service offerings. Marketing is working to transition General Audiences to Suspects pulling them over to Prospects.

Prospect – These people are transitioned Suspects from Marketing to Sales. Prospects should all have some type of “Sales Process” to guide the customer journey. This “Sales Process” for Prospects is specific to the potential customers’ products and services interest. These Stages and Tasks are designed to support and drive the customer journey forward with the deliverable in mind. Sales is responsible for supporting this sales cycle.

Customer – One time purchaser of products and/or services knows, likes and superficially trusts the company

Client – A customer who has purchased on multiple occasions and considers the company a trusted adviser

Marketing

An organizations ability to convey a value proposition to potential customers, drawing them in, is created ahead of any sales process. Marketing should be focused on generating interest with engaging, creative campaigns, projecting information to targeted audiences. Broadcasting the various products and services an organization offers, Marketing creates a stir catching the potential customers eye. By informing audiences of a businesses offering, Marketing should have a distinct goal of landing a prospect in front of Sales people at a particular Stage and Task in the sales process. Many people describe this as a “Warm” Lead.

This preliminary introduction is designed to help “Suspects” get to know an organization. Building rapport and ushering potential customers into a certain level of curiosity, Marketing supports purposeful advertising campaigns. Depending on the communication channel (Email, Facebook, LinkedIn, YouTube, Radio, TV, Smoke Signals, Sky Writing), audiences typically are not going to purchase in this phase. As the psychology goes, a certain level of awareness is necessary before a “Suspect” to “Prospect” transition can be made. By honing buying motives, Marketing prepares potential customers for product offering and the upcoming sales process.

Sales
Infor CRM Sales Process CRM Consulting

A few times a week somebody approaches me as an expert in sales, telling me their tactics are the driving force behind winning customers. This could be true, however if the “Suspect” in transition is properly vetted then polished Salespeople should be carrying the customer journey momentum forward. Sure, tactics are important, moreover the value proposition presented to the “Prospect” should seed the idea of purchase. As Sales collaborates with Marketing to target audience or the “Perfect Customer”, a complimentary sales process to the value proposition, should be in line with the steps a customer needs to make a purchase.

Zooming out to take the long view, we notice sales process spends the shortest amount of time in the customer journey. If designed correctly, Marketing and Customer Service tend to be the longer cycle times of all the area’s in the journey. The product/service definition and delivery tend to dominate the time companies interact with customers. Sales should be tactically superior by design, so Marketing can depend on execution and downline production delivers on Sales promises.

Conclusion

Understanding Marketing and Sales have distinctly different characteristics is really important as organizations evolve. “Tried and true” tactics certainly draw customers in but clearly defining workflow creates space for better targeting, supported customer journey and down stream product/service support. Looking at Marketing as priming for Sales ignition draws an illustration for the mechanics of making business engines run. Developing a Known, Liked and Trusted model reflects how customer journey drives clients buy-in as trusted advisers in a companies subject matter expertise.

 



Simplesoft Solutions, Inc. is a customer relationship management (CRM) business consulting and software development firm in Cincinnati/Dayton OH surrounding areas. We provide implementation, integration, development and training for Infor CRM (formerly Saleslogix). We have built our business on an ability to creatively adapt CRM to meet the varying needs of our customers’ businesses. We have been helping our customers develop stronger relationships with their customers through improved sales, marketing, customer service, and support processes since 1994.

 

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