As a B2B sales leader, your Customer Relationship Management (CRM) software plays an important part in your business life. It helps you keep track of the sales opportunities your team is working on and what deals are in the funnel. Having a consolidated view of your sales metrics via dashboards and reports gives you what you need to make critical revenue projections that you are held accountable for. That is why it is imperative your team keeps your CRM up to date with accurate information – close dates; deal size; opportunity stage and other important details. Yet, why do you constantly need to remind your team to update this information!? 3 reasons:
- Rep/manager updates are usually a daily occurrence (especially at the end of a quarter). Reps are constantly providing managers with deal updates via e-mail, phone calls and meetings. Having to update CRM after all of these exchanges is usually not high on a rep’s priority list.
- Too many inputs already. Reps keep track of their deals in a lot of different ways. Notebooks (yes, the paper ones); spreadsheets; word documents; and by memory. It is no surprise that the details in these methods are usually a lot more accurate than the version that makes its way into CRM.
- Little-to-no value in return for the rep. Yes, it is part of a sales rep’s job to update CRM…but when they receive little in return for their efforts, the information they input will be minimal, subjective and reactionary at best.
The computer-related expression, ‘garbage in – garbage out’ is fitting here. If the information that is being fed into CRM adheres to just one of the three reasons above, all of the fancy dashboards and reports that sales leaders have at their disposal will be inaccurate.
The root of the problem
It’s not your CRM. It’s not your reps. You need to give your reps a solution that adds value to their day. They need CRM as a foundation (as do the other departments in your company), but your reps need something more – they need a solution that can help consolidate all of those inputs into something more useful than what CRM alone offers. Sales reps need a solution that gives them value in return for their input efforts and helps them accomplish what you hired them to do – SELL!
The solution: Opportunity Management software
CRM is good at managing customers, but Opportunity Management (OM) is what helps close deals.
If you can give your sales reps a tool that actually helps them close deals, then the odds of you having to constantly remind them to update anything would be significantly reduced. If that solution was viewed as their own personal system-of-record for all deal movements from lead-to-close, then keeping it up to date would already be done.
An Opportunity Management solution is what you seek. Seamlessly integrated with your existing CRM, there is no need to double enter anything. Companies / accounts, contacts and tasks would all be managed in CRM as always. Even your sales process (types, stages, probabilities, etc.) would all be accessible from what you already have set up in CRM. Opportunity Management would take over from the point of qualifying leads and objectively managing and guiding reps through all aspects of a deal. By showing reps where the deal is positioned and what needs to be done in order to move it forward, it becomes part of their daily routine. Their playbook. Deal scoring and alerts keep them aware of risk areas. Competitor battlecards keep them aware of external forces in play and useful AI capabilities show how each element of every deal compares to what has been successful in past wins.
Best of all, ALL of the benefits that Opportunity Management brings to your sales team benefits sales leaders as well, through improved deal visibility and better forecast accuracy. Your sales reports and dashboards will reflect revenue projections based on information that is real and objective. May you never have to ask your sales reps to update CRM again!
Rolldog is a new player in the CRM / Opportunity Management software space. Our solutions help turn leads into customers…and customers into what leads your business. Using your existing CRM (you don’t need to change anything), Rolldog’s Opportunity Management (OM) solution can help your team close more deals and increase sales revenue.
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