CRM Benefits

Evaluate the ROI of a CRM implementation with Workbooks online calculator

Return on investment (ROI) is not a difficult concept to understand in its most basic form. When you invest money into something, you want to get back what you invested and hopefully make money off of it too.

But for many calculating the ROI of a CRM implementation can be a frustrating exercise. In order to reduce this frustration, Workbooks has created an ROI calculator that lets you explore for yourself at a high level, some of the financial benefits you can expect from implementing CRM, providing you with a starting point to focus the minds and drive expectations. 

Introducing the ROI Calculator

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We originally created the ROI calculator as a spreadsheet model after customers reached out to us for help in obtaining final sign-off for their CRM initiative. After the spreadsheet became popular we decided to create an interactive online version, which has the benefit of being faster and more user-friendly. Yes it is high level and we would encourage you to still dig deeper into the details but it is a good tool to start putting some initial numbers behind the initiative.

The ROI calculator works by scoring yourself out of ten on three criteria, which is used to compute against your total sales to provide a projected financial benefit of a CRM implementation. The financial figure is broken down across new business, existing business and sales management whilst also showing the full workings behind the calculation.

Interested in running the numbers? Click on the following link:  Access The CRM Calculator

How To Grow Existing Business Revenues & Keep Your Customers Happy - Using CRM

1. The importance of Customer Success

The more happy your customers feel towards your organisation, the more likely they are to continue buying from you. So how can we ensure your customers aren’t angry red but are happy green?

Revenue growth for happy customers

Using the three pillars of customer success:

  1. Customer Services - ensure you have a good customer service structure with the tools and services to underpin it
  2. Proactive Account Management - having the right tools in place to be proactive in keeping your customers happy
  3. Cross / Up Selling - targeting and selling, growing your footprint in a particular account

Calculating the ROI of CRM

Before you even think about calculating the ROI of CRM you need to ensure you understand the desired business outcomes and the improvements you would like to make to your business then work out what needs to change in order to achieve those outcomes.

Once you have the basic justification for your investment in place, you will be in a much stronger position to calculate your ROI – and ultimately reduce the risk of failure to deliver. 

Forrester analysts have written a report, Quantify the Value of CRM, which includes some advice you may find useful. Before you start, you may also want to read recommendations from analyst William Band addressing specific issues when it comes to calculating ROI – all of which will ultimately help you cut costs and boost sales.

But for now, let’s review the key elements you need to consider when calculating the ROI of CRM.

1. Revenue Ambitions

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What objectives have you defined in relation to the expectation that your CRM investment will help you to achieve higher revenues? The more specific you can be, in terms of capturing customer spending on different products, working out the potential to increase higher-margin product sales, cutting out obstacles that threaten the continuity of customer relationships or assessing the impact of applying discounts to different customer groups, the more accurate your forecast is likely to be.

Set your target. Imagine that your CRM project will generate five additional sales per month - or 60 per year. If your average sale is worth $1,000, CRM could bring in an extra $60,000. How?

How to integrate your business systems together using Workbooks CRM

For a CRM project to maximize business benefit, there is often a requirement that the CRM system is integrated with other business applications within an organization. These business applications can range from ERP to marketing automation to finance / accounting and much more.integration-blog.png

Workbooks have made the integration process easy by pre-building common record structures, such as Order and Invoice records, Tax structures and accounting periods. This helps simplify integration and reduce integration work / cost. 

In addition, Workbooks provide a wide range of integration tools and approaches, allowing total flexibility today and for the future.

So what are the integration options available to customers and how do they work?

 

 

How To Grow Sales Revenues Using CRM - Webinar Takeaways

How To Grow Sales Revenues Using CRM - Webinar Takeaways

Early February, John Cheney - CEO at Workbooks hosted a webinar to discuss and share lessons learnt on growing sales revenues using CRM.

See below a summary of the key takeaways for you. To access a replay of the webinar, click here.

The Benefits of Web-Based CRM

What are the benefits of cloud-based CRM?

CRM software is a great way for managing all of your customers contact information and business interactions in one place. Cloud-based CRM is more popular now than ever before, where data is hosted on the CRM company's servers rather than your own (on-premise). It is important to know which CRM option is best for your company. We will first look into what a web-based CRM is and then address the benefits of cloud-based CRM over on-premise.

The Benefits of Web-Based CRM

What are the benefits of cloud-based CRM?

CRM software is a great way for managing all of your customers contact information and business interactions in one place. Cloud-based CRM is more popular now than ever before, where data is hosted on the CRM company's servers rather than your own (on-premise). It is important to know which CRM option is best for your company. We will first look into what a web-based CRM is and then address the benefits of cloud-based CRM over on-premise.

Workbooks Wisdom - January 2017

Happy New Year

 
We would like to wish you a happy and prosperous new year. The new year is a great opportunity to reflect back and consider what is working well and what could be improved. Workbooks aim is to provide you with a platform that gives you the tools to make your business successful, which is why we are always striving to enhance and add new features.
 
Many improvements and new features were added to the product in 2016. These include the capability to de-duplicate & merge records, enhanced ReportingZapier integration and the Mapping Module.
 
We are looking forward to another exciting year, with many more improvements planned, including and update of the user interface and tablet version; we'll make the management of mailing lists within Workbooks easier to use and integrate with third-party emailing tools; and we also have exciting new products coming out. Watch out for product announcements in the first half of the year!

Top reason why you don't need "crm software" - right now

A lot of businesses are looking for the right CRM software to run their business.

“So Bob, tell me what brought you to the realization that you need new software,” I will ask.

Some typical responses:

Closing The Productivity Gap

When will we see the benefit?

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But in practical terms these infrastructure investments will take years, if not decades, to filter through to productivity improvements for your business, so what can you do right here, right now to improve the productivity in your firm?

After all, even the most productive business can be made more productive. What if your sales team or your sales manager could stop wasting time every week updating and merging spreadsheets in preparation for the weekly sales meeting? What if that was all done for them, so they could spend that time doing something more productive like speaking to customers?

 

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