New Financial Year - Time to Optimize Your CRM
With the new financial year well and truly upon us, all businesses should take some time to review their Customer Relationship Management system (CRM) and how to optimise their investment throughout the next financial year. As part of this – it is worth considering:
Does the CRM add real value to the Users – or do they view it as an administrative burden?
Review your Accounts – are all accounts correctly listed in the CRM? Consider having the ability to highlight those Accounts that not only that made the most revenue for the business lasty year but also those accounts that have the potential to increase revenue in 2021/22.
All Opportunities should be recorded into the CRM. For each Opportunity, review the current status – does it truly reflect the potential for that Opportunity to close and whether the client adequately aligns to your solutions.
Ensure that all major Contacts are correctly set up in your CRM – where possible – allocate those Contacts to the appropriate Accounts and Opportunities.
Review the reporting and dashboards – do they actually assist your teams in making decisions or are they simply a reflection of where the business has been?
Review how you access the CRM – are you taking full advantage of its mobility features – mobile and tablet Apps etc, synchronisation with other systems.
Take advantage of this opportunity to plan – as making a few simple amendments to how you set up and use a CRM can make a significant change to the value you derive from these resources.