Does your CRM structure reflect your sales strategy?
For the sake of simplicity, sales strategy can be summarised as choosing and focusing on different sales paths, value proposition packs, sales actions and customer profiles. So, how can your CRM serve and guide you to realise your sales strategy?
Here below, there are three tools you can adopt for your own CRM aligning with your sales strategy:
Ideal customer profiles: You can define your ideal customer profiles in terms of the data you are currently capturing, like industry, size and scale, etc. It is always a good idea to define more than one ideal profile and couple them with some common behavioural traits like their position on the value chain or customer-centricity perception. Perfect customer profiles should not be static descriptions but measurable criteria to guide the sales people how close or far their prospects are to these ideal criteria.
Scoring tools: When juggling more opportunities than you can handle, it is always a good idea to screen them through a set of rules and conditions like scoring. Scoring should not be a complex and time-consuming task. You can even do it with 3 to 5 criteria, which may significantly increase sales efficiency and effectiveness.
Performance and compensation pack: If your compensation algorithm is generic and no different than the competition, you are not aligning sales effort and strategy. By tailoring performance criteria and compensation logic, you can guide the sales team to much-desired customer segments, good solution bundles, leveraged pricing or critical sales actions.
To transform your CRM from transactional to strategic use, add features of choosing, prioritising and decision-making to align your sales team efforts to your sales strategy.