We thoroughly enjoyed, “Leap: How to Thrive in a World Where Everything Can Be Copied” by Howard Yu. (You can find our review here). Recently on Howard’s blog, we were intrigued! This paragraph in particular caught our attention:
“Similarly, if you have invested in digital sales and marketing, it’s easier to shift your market focus. You can quickly estimate the drop in demand. You can spend your time strategizing the right move. But if you’re doing stuff manually, it’s just hard to cope.”Howard Yu’s blog: “Be prepared” Is A Good Motto For Companies
Howard makes a good point. Digitising your systems is worth your attention and they are usually, very reasonable cost.
We have worked with and seen the difference this approach has made for the clients who have been prepared to adopt a Customer Relationship Management (CRM) system. In essence, a CRM captures every lead coming into a business and then tracks it to its conclusion whether that be its conversion into a sale or its loss. Because we can track and manage all the sales leads coming into the business, we have a key metric, at our fingertips and in real-time, which allows us to see immediately if:
- the number of enquiries changes – this allows us to consider why this may have happened and increase marketing activity if necessary
- the questions asked changes – we can then adapt the marketing ad sales messages accordingly
- the number of interactions to achieve a sale changes – a deeper sales funnel will affect budgets and can require additional touchpoints to keep the lead engaged
- the conversion rate, from lead to sale, changes – it may indicate we need to adapt our product or that a particular marketing strategy is working really well
Getting this information is a really time-consuming process if you are looking to do this manually, in a spreadsheet for example, and track each lead individually, you are likely to miss the trends. A system’s timeous and accurate feedback means you can adapt and undertake relevant action faster. You are better prepared and you can adjust either strategies or tactics accordingly. It is also likely to make you remarkable!