To successfully use a CRM for upselling and cross-selling, focus on understanding customer needs and insights rather than just the software. Most CRM projects fail due to a lack of customer understanding. Cross-selling increases revenue through related products while up-selling boosts margins by selling higher-value offerings to existing customers. Tips for success include identifying patterns in customer data, getting team input on effective techniques, focusing on human factors rather than just database segments, sharing best practices, and automating those practices.
3. A further
10-25%of CRM projects just about
meet expectations, but don’t
deliver the terrific upswings
in sales and conversions
customers expect.
http://www.accenture.com/SiteCollectionDocuments/PDF/Accenture-Connecting-Dots-Sales-Performance.pdf
4. The rest deliver great ROI, strong user
adoption and a more complete view of
customer relationships.
A successful CRM implementation will benefit your business in a
variety ofways, so we’ve created this slideshare to show you how to
make your implementation a success.
6. It doesn’t matter how innovative the application or how elegant
its code, CRM isn’t about software. It’s about the people who
use it. Understanding their needs, answering their motivations,
encouraging their hopes and dreams.
7. More than half of
CRM projects fail due
to lack of customer
insight (53%).
Every organisation adopting
CRM understands that customer
insight is what will elevate them
from the failing 70% and the
mediocre 25% and into the
5% forwhom CRM is delivering
payback.
http://www.merkleinc.com/sites/default/files/whitepapers/Customer-Centric-Transformation_WEB_4%2030%2014.pdf
9. Cross-selling is the art of selling
your customers different but
related products and services. If
you sell cars, sell servicing plans.
In financial terms,
cross-selling is about
increasing turnover:
your topline sales.
12. The standard dashboard of any CRM application creates charts and graphs
across your entire database. But an average is just that: average. What do
averages do? They hide all the interesting traits and factors that show up
when you slice your total dataset into smaller parts.
Identify opportunities by
looking for patterns
http://www.bain.com/publications/articles/management-tools-customer-relationship-management.aspx
13. Get your team together, even if you have to take an awayday. Ask them
to describe what tips and tricks they find most useful before approaching
a customer. Many of these tips and tricks can be hardened into reusable
cross-selling and up-selling techniques.
Askyour people their opinions
14. To make your people fanatical about CRM marketing, segment differently.
Customers don’t divide themselves into sectors and sizes: databases do.
Start looking at your data in terms of human factors.
Segment to unite, not to divide
https://www.gartner.com/doc/2846818
15. Over a third of companies have been forced to delay CRM projects due
to poor data problems, so you need to motivate Sales by showing them
what’s worked and how to achieve it with a new system.
Communicate methods,
by sharing models
http://www.gartner.com/5_about/news/crm_sample.pdf
16. This is the right point in the adoption process to demonstrate these benefits
come when everyone uses CRM - no exceptions. Ideas gain value when
they’re tested against data - all data, not a subset.
Show howvalue is added if
everyone’s on board
17. Embed the business processes that consistently deliver these opportunities
and information to everyone involved. That’s where CRM really shines.
Execute with an eye on
continuous improvement
18. What worked in one sector can work in another. So if a sales person’s
anecdote turned into a productive contact strategy, roll out that CS to all
customers united by the same criteria.
Automate your best practices
http://futurecmo.org/2013/08/25/from-marketing-to-service-automation/
19. The best CRM applications workwith more than a single database: they
see connections outside that database. They can look at news feeds and
flag when a name appears. They can track social media and alert you when
a follower in your database ‘likes’ you. All are signs that your prospect is
moving down the sales funnel.
Spread the word across
social media
https://econsultancy.com/blog/64545-what-is-crm-and-why-do-you-need-it
20. The Ultimate
Guide to:
Using CRM for
data driven
marketing
success
An eGuide with practical steps to apply
data-driven marketing using CRM
ULTIMATE SERIES
Up-selling and cross-selling is an
important sign of successful CRM. Discover
more about how you can achieve this by
downloading:
The Ultimate Guide
to: Using CRM for
data driven marketing
success
Download Now