![]() ![]() Your leads come from a variety of different sources. The typical CRM puts the “company” record at the top of the hierarchy.įor example, you might associate 10 different contacts and three different deals to a single company. ![]() If you’re selling to businesses, you also want to keep track of which contacts and deals are linked to which organizations. If you’re working with CMO Jane Doe and Marketing Director John Smith on a single purchase, they should both be associated with that deal record. A deal should move through the various stages of your sales process. DealĪlso known as an opportunity, a deal is a potential sale. They might be a Marketing Qualified Lead (MQL), meaning they’ve somehow interacted with your marketing content (for instance, downloaded an ebook), or a Sales Qualified Lead (SQL), meaning your reps have identified them as a good fit. LeadĪ lead has indicated an interest in your product. You can also keep track of details like their job title, company name, annual company revenue - the possibilities are nearly endless. Most CRMs will record their first and last name and email address. ContactĪ contact is an individual person. CRM Terms to Knowīefore we dive into the nuts and bolts of using a CRM, you should be familiar with several key terms. Imagine what you could do with this data-backed understanding of what’s working and what could be improved. A CRM will give you both a high-level and on-the-ground picture of rep performance, including team-wide and individual conversion rates by deal stage, average deal size, deal velocity - and that’s just scratching the surface. Stop wondering how your salespeople are doing. Salespeople on the same team can learn more about each other’s best practices and pinch-hit for each other whenever someone goes on vacation or gets sick.Įssentially, a CRM boosts rep collaboration and efficiency. An account executive (AE) can quickly fill himself in on an opportunity his sales development rep (SDR) has prospected and qualified for him. Increased CollaborationĪ sales manager can instantly see how and when her salespeople are reaching out to and following up with buyers. Your revenue will increase proportionally. The less time reps are spending on administrative work, the greater number of hours they have to get in front of prospects. With a CRM, you can automate tasks like call and activity logging, reporting, deal creation, and more. You can personalize your messaging and provide more value from the start. Seeing at a single glance every blog post, email, and ebook they’ve opened and/or read, as well as key details like their company’s size, location, and vertical, gives you a major leg up. It’s much easier to provide a positive buying experience when you know a lot about your prospect. There are four main advantages of using a CRM. CRM stands for “customer relationship management.” A company’s CRM stores all interactions with potential and existing customers - everything from someone’s first visit to your website and activity on your website to the exact time they opened your sales proposal and how long they looked at it.
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