Opportunity Mining: Using CRM to Find More Business Opportunity

Opportunity Mining: Using CRM to Find More Business Opportunity

Customer Relationship Management (CRM) has typically been viewed as a technology and not as a tool for greater opportunity. As such, much of the focus of business is on the evaluation, acquisition, implementation, cost, and management of a CRM system – instead of how to use CRM as a key tool for the mining of new opportunities.

How does CRM help you find more opportunities? How is CRM an effective mining tool? The answer to both these questions can be answered in a simple sentence, “By helping you create more loyal and satisfied customers.”

Let’s take a look at  how you can “mine” new opportunities – even from your existing customers and current operations – by using CRM to accomplish the following five activities:

  1. Find and Nurture Your Best Customers: Many businesses focus on the customers that buy the most, thinking that revenue equals success. In the end however, it’s loyalty, satisfaction, and profits that equal success. CRM identifies the most loyal and profitable customers and gives you the tools needed to nurture those relationships into more opportunities for your company.
  2. Align Goals: When your customer service and value align with your customer’s goals, the outcome is a ‘win-win.’ CRM captures, aligns, and assigns customer’s goals within your organization to maximize your relationship and opportunity capture.
  3. See Buying Trends Early: With CRM your business will have fast, clear information that reveals buying trends and profitable customer needs before the competition. Thus creates new and profitable opportunities for your business.
  4. Deliver Better Value To Your Customers: By being able to link all activities and outcomes, from initial cold call through sales order, you stay on top of critical details and timelines that keep your customers coming back to you, over and over. CRM identifies customers that have purchased products or services of one type that also have a need for another, complimentary product or service. You can easily and conveniently create or anticipate demand for other products and services within your most loyal and profitable customers.
  5. Save Money: Wouldn’t it be great if every individual or company we contacted would immediately purchase something? Or, that every dollar spent on marketing would return revenue? Because they don’t, business walks a time/energy/cost tightrope. Businesses need to quickly determine where to spend sales and marketing-oriented time and energy with an eye toward closing profitable business fast. CRM-enabled businesses quickly identify where sales organizations should spend their time and energy, thereby closing more business more quickly and lowering overall cost of sales. Likewise, the CRM-enabled business can connect marketing programs directly to contacts, leads, opportunities, and sales orders – ensuring you invest where you get the greatest return.

Businesses know that the route to opportunity and profitability is through existing customers. CRM is that key element to managing customer relationships to greater loyalty and satisfaction, while also lowering the cost of new customer acquisitions.

In the end, customer relationship management is more than an application or ‘tool.’ It is a culture where the business is focused on the acquisition, retention and service of customers and their needs – leading the business to new opportunity and profitability.

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Steve’s been with SMB Suite since 1998 and has been involved with nearly every aspects of the Company’s business as a strategist, professional services executive, cloud solutions architect, and senior consultant. In his current role, Steve is responsible for SMB Suite’s revenue and oversees the execution of ERP, CRM and BI projects for customers across a broad range of industries. Steve combines his expertise in MS Dynamics GP, CRM and other Microsoft products with a strong foundation in accounting and business to identify gaps and streamline customers’ processes. Prior to co-founding SMB Suite, Steve was previously Corporate Controller for MEHLE Behr and, prior to that, Audit Senior for Ernst & Young. Steve holds a Bachelor of Business Administration degree from the University of Texas at Arlington.

Jeremy is responsible for SMB Suite’s technology vision, strategy and implementation and is the architect of the Company’s Dynamics Cloud Platform. Highly adept in every facet of managed services, ERP systems and e-commerce platforms, Jeremy’s expertise spans the implementation and support of business and financial software solutions, as well as the customization and integration of SMB Suite’s cloud ERP technology stack. He holds numerous Microsoft and industry-related certifications, and was primarily responsible for designing the Company’s progressive business services platform in the early days of the Cloud. Prior to SMB Suite, Jeremy served as the financial analyst, systems administrator, and information systems liaison for a $2 billion financial services corporation.

Monty is responsible for SMB Suite’s day-to-day operation and, most importantly, its customers. As a leader, motivator and mentor, Monty creates loyal high performance teams willing to “walk through walls” to accomplish their goals. Prior to SMB Suite, Monty served as President of The Bradshaw Group (TBG), a global distributor, manufacturer, and repair facility for digital printers. In this role, he was the Company’s ambassador to its most important domestic, European and Latin American customers and TBG achieved a best-in-class Net Promoter Score of 74 for its superb customer satisfaction. Prior to TBG, Monty served as the General Manager of Sam’s Clubs three highest grossing U.S. stores and was named Regional Operator of the Year in 1999. Monty holds a BBA in Marketing from Texas Tech University and is an active member of Business Navigators. He has been active in Vistage International, Executives in Action, the Dallas/Fort Worth Retail Executives Association, as well as, A.P.I.C.S., the leading professional association for supply chain and operations management. Monty also volunteers with Hunger Busters and ManeGait, a therapeutic horsemanship organization.

David is a proven financial and information technology professional with expertise in providing business accounting software and computing solutions. He began his career by starting and managing a successful independent consulting practice for several years. He then launched the local systems consulting unit of Ernst & Young’s Entrepreneurial Services Group, leading the office into the hi-tech consulting arena. After successfully developing the unit for Ernst & Young, David founded NextCorp (which became SMB Suite in 2013) to serve the business software needs of clients throughout the US. David has made SMB Suite one of the best cloud ERP providers in the industry. In addition to being a successful entrepreneur and leader, he is a software and technology specialist, holding certifications in various Microsoft and other technologies.

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