What is CRM Anyways?

Editor's Notes

• #7: KEY TAKEAWAY Microsoft Dynamics CRM enables sales professionals, in every business, to deliver amazing customer experiences. TALKING POINTS This company has always had a big vision — to help people realize their full potential. In the earliest days, it was by putting a PC on every desk and in every home. We’ve come farther than we could have ever imagined. With our new direction as One Microsoft, we’re using knowledge in every part of the business, like Xbox and Nokia on the consumer side, to inform our experience on the enterprise side. Today, we have a big goal to completely reimagine how our customers experience our products and services – not as a set of disjointed point solutions, but as an integrated and holistic experience. With the latest iteration of our Dynamics CRM, companies can now build an integrated, end-to-end ecosystem that enables you to surprise and delight today’s social consumers with seamless and personalized customer experiences. We believe that by enabling amazing customer experiences and employee interactions you can truly transform your business around the customer experience, and we are really excited to share our vision for sales organizations with you here today. SEGUE Before we jump in to the product, let’s take a step back and look at why we (and our customers) felt it was important to reimagine traditional CRM.
• #8: TRANSITION We all know the world is social and mobile. TALKING POINTS The entire world is on social. We all use social every day to keep up with our friends and families. We all use social to connect with businesses and brands that we feel loyal to. The growth and engagement is huge – people are sharing more than ever before. We’ve all seen the stats that back this up: we upload and share more than 500M photos per day. In any given second, 5,000 tweets are publicly shared across the world—the growth in these numbers over a short time is incredible. More importantly, the conversations that used to happen offline with friends are increasingly happening online. Consumers are responding to information and influence from within their social networks as they make decisions about purchasing and brand loyalty. SEGUE For sales, this is a new opportunity to engage in conversations that used to happen privately. ______________________________________________________________________________________________________________ 400M tweets: http://articles.washingtonpost.com/2013-03-21/business/37889387_1_tweets-jack-dorsey-twitter http://mobithinking.com/mobile-marketing-tools/latest-mobile-stats/a http://www.kpcb.com/insights/2013-internet-trends
• #9: KEY TAKEAWAY Beyond providing businesses with golden opportunities to reach out to prospects, however, all of these billions of social and mobile interactions have made customers smarter then ever before.   KEY TALKING POINTS Today, sales teams must sell to super customers. They are unbelievably informed, incredibly savvy, and highly influential. Although traditional interactions with customers in-person, on-the-phone, via email are by no means dead, the social customer journey no longer solely starts with a cold call or even a cold email. In fact, if you look at the stats, you’ll see that a cold email has less than 3% response rate, and a telesales rep has a 4.5% chance of talking to a prospect, compared to a LinkedIn Inmail, which has a 67% response rate. This super customer has become extremely powerful and no longer relies on companies alone to gather information about purchase decisions. Their access to virtually any data set coupled with the ability to solve complex comparisons, topped off with the ability to instantly validate any of their decisions with the literal “like”, “thumbs up”, happy face, or click of a button – Twitter, Facebook, Yammer, etc. This creates a new burden on sales to pay close and constant attention to specific signals in their market. There is now a constant need for information and examination of buying behavior that will be the difference between “Like’ or “Unlike.”   SEGUE Ignoring these new channels and interactions is no longer and option, and sales is increasingly playing a stronger role every part of the customer journey as they interact with prospects across all channels. ADDITIONAL FACTS 80% of online content is user-generated
• #10: KEY TAKEAWAY Before your customers even engage with you, they are already more than half way through the buying cycle.   TALKING POINTS With all of the information out there, your customers are becoming increasingly less reliant on engaging with sales to educate themselves. Savvy businesses see this as an opportunity and have recognized the importance of enabling their sales teams to engage with customers when and how they want. The best sales representatives leverage the tools and resources from their marketing and service colleagues to establish their own thought leadership on social channels to become the trusted expert customers seek out on social.   SEGUE Developing this thought leadership isn’t easy, and presents a challenge with most CRM solutions out there today. FACTS & RESOURCES http://partnersinexcellenceblog.com/70-of-buying-process-completed-without-sales-invovlement/
• #11: KEY TAKEAWAY The numbers also back us up – nearly half of customers today complain about products and services on social networks. The upside is that nearly all customers are willing to pay for a better customer experience.   TALKING POINTS There’s a wealth of data about your service experience – and customers can easily identify which companies have the right tools to provide the best experience. Savvy businesses see this as an opportunity to differentiate themselves from the competition – as well as identify their competitors’ unhappy customers and offer them a better option. The best service organizations recognize that social is a critical aspect of creating amazing customer service experiences that will ultimately pay off. References: Omni-Channel support can improve customer satisfaction by 36%: http://www.forrester.com/Welcome+To+The+Era+Of+Agile+Commerce/fulltext/-/E-RES58593?objectid=RES58593 86% of customer will pay more for a better customer experience: http://www.forbes.com/sites/christinecrandell/2013/01/21/customer-experience-is-it-the-chicken-or-egg/
• #12: KEY TAKEAWAY In this social and mobile world, every touch point matters for sales.   TALKING POINTS The numbers show that customers love using social to connect with their friends, family and colleagues – and also to talk about brands, products and services. This creates a wealth of information about prospects, leads, accounts, and competitors available on social and across the web. We all know that sales needs intel on the right people to reach out to at the right time in order to meet their quota and keep growing the business. Spending hours upon hours trying to sift through social data isn’t the most effective strategy to harness the information on social. It can quickly become overwhelming to even the savviest of users. But you also can’t afford to ignore these interactions. Today’s top sales leaders recognize this and they’ve enabled their teams to make sense of social interactions and social buying signals without overwhelming them.   SEGUE As you’ll see later in this presentation, Microsoft Dynamics has invested heavily in this space and we have some exciting features to share.
• #13: KEY TAKE AWAY The bottom line is that sales teams must adapt to this new social reality and your CRM needs to as well. TALKING POINTS  Sales teams need to meet the expectations of today’s social and mobile customers. For sales, social creates new opportunities to build and maintain relationships. Simply reaching out to say happy birthday, or congratulations on your new job can do wonders on your next business interaction. It can also be useful for unearthing golden opportunities to reach out on a new deal. You need to be able to engage them when the moment is right on the channel that they prefer. Being clear and consistent with your processes and communications while providing your people the ability to measure their success and find opportunities to improve. And you need to nurture relationships so that you can create brand advocates. By developing a true understanding of customers, you can serve, refine, and grow relationships over time. All of these activities must be done in a continuum, and your CRM system should enable your people to excel in this new world. Those built for a traditional sales cycle are outdated—they are static and not able to help you in a dynamic way. And that is why we are creating something entirely new… a system reimagined to help you match, nurture and engage. SEGUE We all know this is the right thing to do for our customers and our businesses. ______________________________________________________________________________________________________________________________________ 20X Increase in customer data over the last 5 years for the average company
• #14: How salespeople create amazing customer experiences and close more deals, faster.
• #15: Once you’ve listened to the buzz from your customers, follow through and return a personalized message. With automation and monitoring for multiple channels, it’s easy to personalize your campaigns and increase open and click rates. Consolidate your media buying to expand your reach and lower your agency fees.
• #16: TALKING POINTS The first thing you need to do to enable your sales team to create amazing customer experiences is to give them a simple way to collaborate with colleagues and engage with customers. That’s what Dynamics CRM accomplishes. One of the most remarkable improvements that Microsoft has made with this latest release is the design of the UI. We’ve simplified the design and gave it the same look and feel no matter what device you are using. When you’re on the road you want to get the same information on your phone as on your desktop. You want something clean and simple. And with the latest integrations of Office365, Lync, Skype, and Yammer, we’ve drastically reduced the need to jump in an out of apps.
• #17: TALKING POINTS In the build up to this section we talked a lot about the need for CRM to evolve from a static system of record to a dynamic system of engagement This is what we’ve built. Your sales team now has real-time insight into the social activity of your contacts and accounts. What’s more, they also have the ability to engage with their leads and contacts on LinkedIn and Twitter without ever leaving their instance of CRM. With the recent acquisition of Netbreeze social listening technology, we have begun to democratize social intelligence so that everyone has access to social data.
• #18: TALKING POINTS The new process flows we’ve built into CRM enable you to work smarter so you can close more deals faster. We’ve made it easy to assign role-specific processes and we’ve offered up best practices from industry experts to make it simple for you to set up shop and run an effective organization. These sales processes drive consistency across your organization but at the same time allow you to be agile and flexible to meet new opportunities that arise.
• #19: KEY TAKE AWAY Customers now use a rapidly evolving set of devices as a means of engaging across touchpoints, which they don't distinguish from the brand or business. Ensure that you can engage with them on their terms by delivering meaningful interactions across all channels TALKING POINTS  Multi-channel support can improve customer satisfaction by 36%. Monitor and track customer sentiment to anticipate issues and ensure a positive experience Understand how your performance across all channels to pinpoint areas for opportunity and improvement REFERENCES: Omni-Channel support can improve customer satisfaction by 36%: http://www.forrester.com/Welcome+To+The+Era+Of+Agile+Commerce/fulltext/-/E-RES58593?objectid=RES58593 Customers now use a rapidly evolving set of devices as a means of engaging across touchpoints: http://webprod.forrester.com/The+Metamorphosis+To+Agile+Customer+Service/fulltext/-/E-RES59133
• #20: KEY TAKE AWAY The ultimate achievement in service - beyond personalized, expedient, and seamless – is consistency. An organizations inability to deliver consistently good service is part of the reason why only 1-in-3 customers feel that companies actually deliver positive customer experiences. TALKING POINTS  By having a clear view of the next steps you need to take in every interaction, all service professionals across your organization regardless of tenure delivers a consistent and positive customer experience every time. Boost Customer Lifetime Value by consistently embedding to upsell/cross-sell through interactions Help shorten onboarding time by embedding best-practices into every interaction REFERENCES: 90% of decision makers say a good service experience is important but only 1 in 3 deliver: http://www.forrester.com/Assess+Customer+Service+Capabilities+To+Pinpoint+Opportunities+For+Better+Service/fulltext/-/E-RES59308?objectid=RES59308
• #21: KEY TAKAWAY And by the way, companies that successfully deliver amazing customer experiences are winning. TALKING POINTS Watermark Consulting, a customer experience consultancy and think tank, did an analysis of the five year performance of the Top 10 Leaders and Top 10 Laggards in the Forrester Customer Experience Index versus the broader S&P 500 Index from 2007 to 2011: The return of the Customer Experience Leaders portfolio was 128% higher than the Laggards, and 27% higher than the S&P 500. Their results strongly suggest that delivering leading customer experience allows these companies to outperform the market. SEGUE So how do sales teams deliver amazing customer experiences?