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hi this is Bruce and this is my first YouTube class and the subject today is going to be customer relationship management software and in this video I'll be talking about why you need CRM you know what it does as some of the particular features of different CRM products and also you know how its licensed obtained etc this is an introductory level course so there's going to be some concepts that I'm going to cover so some of this makes may be a little bit more sense to you okay the first concept then I think this is the most important is all businesses about people but particularly when we're dealing with people we're really talking about relationships by that I mean what they have found all the business experts is that number one it costs businesses a lot of money to attract new customers there was a study one time done by a major department store and I won't name their name but here's what they discovered that for every customer they got in the door they spent $10 in advertising that's a lot of money over the course of a year or so however they found they only spent $1 to get existing customers back in the door but how do you get these existing customers to come back in the door you have to nurture the relationship with the customer it's a great way to think of it is that you want to have a long term relationship with your customers with your vendors and anybody doing business with your company so if we know that business is about people I'm not an artist right we know it's about relationships but we also have to take into consideration is the relationships people have with other people throughout the lifetime of dealing with these folks now you probably know that a lot of times the best business is word-of-mouth not referral from one of these people to one of these people's best kind of business you can get but the thing is when people have a great experience with the business they only tell a few people when they have a bad experience with your business they'll tell many many people so this is some again another area where CRM comes into play so let's think of CRM as your front office for your business your front office what is the front office well that's everybody that actually comes into contact with your client your customer so forth so that's going to be sales marketing and also customer service these are the people that's on the front line every day dealing with your customers and these are the folks you want to have a great relationship with these customers but it's not always possible and if you're not using a CRM system I'm just going to cover some of the things that you are going to lose and I'll clear the whiteboard here okay let's talk about the sales department your sales team and our example will have three sales people and we'll say that's Bob Mary John they have a one sales manager Tom all three report to Tom but without a CRM system maybe Bob uses Outlook to keep his contact information in name phone number maybe if you notes that kind of thing Mary doesn't like Outlook instead she uses Excel she keeps all of her information in spreadsheet John here on the other doesn't like Excel didn't like Outlook he uses will say Evernote and poor Tom here his mission in life is to find out you know forecasting sales his pipeline whirs everything's asked so he's got to work with Bob who's got to get everything done Mary that's got to get everything done John has got to get everything done and they're all working with data into similar dissimilar and decentralized format this can get ugly pretty quick because it's Tom's responsibility to give the boss a pipeline report the sales forecast tell the boss how effective their marketing campaign is doing lead generation how much you know money are we making or losing off of a particular campaign it can be quite a mess where things really get ugly is when one of them leaves the organization Bob walks out the door takes his contacts with him Tom doesn't know what to do at that point both contacts are gone or maybe he keeps them on a roll there's actually people still use a Rolodex is very day those contacts are gone they walked out the door um also compiling the data it's all missing where the go don't know we don't know that so so is getting ready to order not happy with something we don't know this in turn causes a business to lose a whole lot of money so the bottom line is when your business when your data is here and it's over here and over here and it's over here and it's over here it's decentralized you can't build reports on it you can't quantify your business you can't forecast everything is the similar we're keeping different data sets maybe she's not keeping notes doesn't like taking notes this one never gets birthdays doesn't believe in those there's no hard and fast way that there's no rules of the road for these folks and you see it all the time when you go out in the field there's a lot of holes in the information even when you start trying to glue everything together from spreadsheets Outlook Evernote rolodexes it's a mess what else do we lose by not employing such a system the next thing on the list that we lose is we fail to spot trends maybe we have a certain product that is training up well we have another product is trending down we don't know this because again all of our information our data is the centralized hopefully we might catch it but we're going to catch it when is that its most severe point we're not seeing those trends early Amazon is a good example of doing a lot of stuff of collectible post relationship management and big data and analytics the suggested products that sort of thing with CRM a CRM tool you can kind of catch what's going on there what else do we lose well when we have the same people right and they have their own silo of information maybe we've got Tim over here he's I in customer service Bob goes to make a sales call and we got our customer down here Bob goes to make a sales call to this customer but what he didn't know was a customer had just got off the phone with Tim and customer service and was mad at the company really just really pissed off because someone was wrong with the product there was miscommunication something like that needless to say this is a bad day for this salesperson right here had a sale CRM system and put in place that experience probably wouldn't have happened because she'd been able to go to the notes of the contact record and saw where the customer had talked to Tim and customer service and maybe even make a special offer or some type of deal in order to win back this business but he didn't know instead he gets a earful from the customer walked into a totally blind bad situation that is something the CRM system can help to eliminate because all these front office functions are all tied together in one neat package we're really talking about is a 360 degree look at your customer all the way across we're looking at everything in a centralized format everything they bought every call that you've made every email you've received every note you've taken every customer service call that they've had every product they've purchased etc that 360 degree view is what the CRM system allows you to do but it does a whole lot more what else happens if we don't have a CRM sense if we don't know because we had a bad experience let's say with customer service they had a bad experience made with delivery or it didn't the product didn't arrive properly in good condition or whatever what we don't know when we see that the contact with the customer go down down down down down is that they're looking at your competitor to replace you and being replaced they're moving on they quit talking with you they quit sharing with you and you can see that through the aging of emails calls etc so that's another area that CRM systems are designed to help make better finally the sales manager cannot forecast supposed to be a funnel that's pretty pathetic but you get the idea the sales manager can't forecast a sales funnel unless he knows the status of all the deals how old they are be a dollar amount where they're at in the sales process this is something I used to talk to companies of companies before I did consulting in this area about their sales process if your sales process doesn't flow on paper you're not going to be able to build a CRM system around it so what the implementation of a CRM system does is it causes companies to take the time analyze their sales processes and make them flow on paper and once they flow on paper then you can design a CRM system around that so as people process etc those are just some of the reasons why you need a CRM system well let's talk about what a CRM offers you the first thing is is you have to understand that they are modular in nature so if we think of it this way we're going to build this circle they're the first and most important module is your contact module the contact record in the CRM system is the part that everything else is tied to and revolves around in the system now a contact can be tied to the account module the account module is typically going to be the company for which this contact works for if you're doing a b2b type of business you see businesses coming a couple different flavors business consumer business-to-business I'm in the business to business or b2b space so this is real important so we can tie the contact contact record to the account let's go into a bit more detail about a contact record so a contact record is essential repository for their name or address that they have an assistant phone number fax number email address cell phone number etc all all that kind of data have their date of birth their wife's name kids names etc if you want to capture that information the next thing that it should contain with it is some type of notes where you're talking to them you're updating the record whatever some type of note you want might want to make you to yourself for later reference it should have history in there a history of any document you've sent any emails you might have sent any phone calls a you sent etc any pending activities you might have with that contact a follow-up phone call for example some type of reminder to send marketing collateral at a later time etc the answer should contain any products that they currently own or have owned in the past there's another example which should be in there any documents you might have sent that would be in the contact record if they're tied to an account who that account is if they're tied to a vendor who that vendor is and the outstanding quote says you might have form any outstanding opportunities you might have with them you might have in there as well so a number of records are all tied to the master contact record within the CRM system what other type of modules well there's accounts you can have your activities activity would help if I learn how to spell activities are being like any follow-up calls on emails that you want to send out etc there's also opportunities there tied to that opportunities are being when there you're negotiating with them about purchasing additional product or services but it's not a done deal you're following that opportunity through the sales cycle ah let's see vendors could be another module helpdesk could be another module products another module and is the reserves out there maybe there could be plenty more modules but these are some of the main modules you'll find in a modern CRM system so a CRM system what it allows you to do then is it allows you to build around these relationships that revolve around the contact record in the CRM system that's what it does it helps you relate all this information a CRM system can also integrate with say Google Apps it can integrate with office 365 it can integrate with MS Office in other office tools including project management etc so the data is contact data the contact I'll just do it right here can you integrate here here here here all the way across the board that contact data can integrate with all these different platforms they talk back back and forth to one another now let's talk a little bit about one of the major benefits of CRM is in the form of automation let's talk about automation for a second let's got your website up here and you have your CRM system here CRM this is your web CRM system somebody to think to am fills out a form as an inquiry form on your website they fill it out this system can be set up to where that information that contact that lead information goes into the CRM system fills it out and they Auto responder emails you back thank you for you know visiting our website here is the information requested we will have a sales person contact you within the next 24 hours let's say the CRM system would also look at the zip code for example and say that this lead belongs to Bob and then we'll schedule a telephone call within 24 hours for follow up so almost immediately your customer got an email we respond to it we thank them maybe you offer send any initial information we begin the nurturing process by looking at the zip code assigning that lead to Bob and we told Bob hey you need to call this person here's the product or service that you're interested in this was done without human intervention this is one of the things that makes their hem so huge we want to touch that customer repeatedly and often but we want to do it in a timely basis as well make sure all of our bases have cover and we want to keep a complete history of all these activities which should be kept in the CRM system another thing I use it for is for lead nurturing now I'm not going to go into all my give all my secrets away but I will tell you that I qualify leads using what's called Bant what this ban stands for budget Authority need time line be a ante and we assign the customer as score based on the answers to the Bant questionnaire which is built into the CRM system so we know whether we have a hot warm or cold lead and we use bath to do that with and that's baked into the CRM system so we obviously want to work the hot leads first and you can design lookups or custom views in your CRM so when the salesperson sets down in the morning they just see a hot leads for that day these are the ones you got to get to right away again this was done automatically without without human intervention one of the big challenges to any sales organization is follow-up making sure that you're handling things in a timely basis that you're you're making sure that your customer receives the information they requested they're receiving the marketing collateral they're receiving the telephone calls everything done in the timely basis why is that so important because many companies spend a whole lot of money buying leads and I mean a ton of money buying leads because they've developed a campaign and they want to maximize revenue based on that campaign so it's easy for people to get lost in the shuffle but it's also easy for your current customers to get lost in the shuffle as well if we're in the middle of a really expensive campaign we may have forgotten those notes we took six months ago in Outlook - called Mary Smith say in July next July of you know four contract renewals something like that because we're too busy working that we need these reminders we need to be able to look at our daily call sheet our daily activity line and see what we're supposed to do and that is one of the benefits of CRM because when you schedule an activity with the client that is recorded synchronized and recorded in the CRM system so that's another benefit of a CRM system data it's pretty doggone easy to start getting overwhelmed with a lot of data and one of the big problems is duplicate data all right serums tools contain let's just say CRM software contains a set of tools that allow you to deduplicate your records and so you have Bob Smith Bob Smith Bob Smith so now we've got three records in the CRM system that happens all the time trust me it just does the way the D dupe function works on these as every contact record is comprised of fields and as heart-and-soul CRM is a relational database what it does is it looks at the dates the records are created the last fields that are updated in each particular record and if say the phone number on this Bob Smith is newer than this one give you the chance to replace this miss swap things around to the most recent information in all the fields and then will merge them down into one particular record thus eliminating the multiple duplicates that you might have it's a wonderful tool is it's probably sounds more difficult to use and what it is there's other things that you can use you can actually prevent some duplicate entry data entry which is kind of cool using things like sound x-values etc I won't go into all that that gets a little bit more complicated another thing that CRM has began to address in a big big way is social your customers on Facebook Twitter maybe Instagram could be a host of others the CRM systems today will allow you to follow your customers your vendors etc on these various social media platforms and even be alerted when your company's name is mentioned in the tweet in the Facebook post etc so you can respond to that that can come in real really handy so this is something relatively new in CRM systems as well as the ability to also look at Geographic data as well so this is going to be my poor poor drawing of the United States and with geographic data pattern matching allows you start seeing where you have big pockets of sales that you were not really aware of and that will help you explore what's going on there in these different areas of the country that may be geographically you were not aware those type of sales were happen happening so that's another extremely powerful tool a CRM right there is to look at your geographical regions and see that certain products are moving better than other ones in those territories and it just might be because you have sales people really great at selling this product goes to notice that the other products not selling because they're not so good at it so it helps you work with sales people as well companies spend a lot of money on marketing pains big money on them remember we're spending that ten bucks per head to get them in the door it's a lot of money ten dollars a piece hey that's too high I've done that move that down a little bit what are they looking for they're looking for the three-to-one ratio so they want to turn that ten dollar investment into $30 that's what they're looking for so they're acquiring leads maybe they're going to trade shows maybe they're running advertising on the Internet maybe they're doing Facebook posts they're blogging they're running the Google fashion newspaper television ads etc but that's what they're looking for looking to make 30 bucks for every dollar they spend or more this is kind of a my opinion to bear mountain bare minimum so how do you do that well CRM systems allow you to create was called campaigns in those campaigns once you start getting leads that come in are entered in the CRM system are put into campaign groups and put into a campaign group then we can begin to monitor the results you know we're going to send them we're going to send them my email we're going to make phone calls we're going to send direct mail we're going to use different touch points and believe me when it comes to sales there's more than one way to sell typically you have to touch a customer multiple ways multiple times you can't do all your marketing by email generally you can't do it all by phone generally you can't do it all by regular mail generally you can't do it all by television commercials generally you can't do fax marketing all the time generally what it takes is a combination of things and that's another key benefit of a CRM system because it can run multiple campaign simultaneously and track the results to recap CRM systems are about modules they have different functions your account module for example is all the companies that your contact is related to your course you have your contact record itself that module a leads module which hopefully you'll turn leads into contacts okay you can call them suspects prospects or whatever a helpdesk module possibly price book module a quote module an activity module for scheduling things like calls follow-up email etc vendors module invoices module all these different things now I will say this I have yet to see a CRM system that can replace a full-blown accounting application so one thing is real handy is for your CRM system to talk to and share information with your accounting software - you just something you want to see happen in a big big way now now that we've gotta give you this overview of CRM with 30,000 foot overview SEO ring let's just kind of wrap up how CRM is typically obtained well you have two options you have on-premise and you have hosted and the PRU for the most part you're small to midsize companies are generally looking at a hosted solution and that's because the installation implementation of the CRM system on-premise can be pretty doggone expensive depending on the software you purchase so with a hosted solution you can get right into the game very very quickly and hit the ground running for a low entry fee the down shot of course is that you're paying monthly fees to the provider of the CRM software how is it priced his price per seat that's there's actually different pricing schemes involved on this are involved with purchasing CRM software now the pricing can actually be zero dollars a month I've seen them as high this is going to sound crazy I've seen one this is what they were asked per month per user one hundred and thirty nine dollars a month per user that's pretty steep then one I happen to use is running me thirty-eight dollars a month per user so it's but to me it's investment it makes you money CRM system keeps me keeps my customers happy makes me money so that's an investment the other pricing schemes you'll see some of them they offer different tiered pricing they'll offer like three versions of the software a B and C this would be the entry level and maybe it doesn't it's missing some modules and then the B is the professional the pro version and it's got the modules and more and then you have the enterprise and it's got maybe this was missing a couple and then this one's got the everything the whole enchilada and that's you'll see that sometimes depending on the product that you're looking at they also have several other ways in the pricing that you have to be careful of know when is storage now maybe give you one to two gigs of storage as part of your plan and if you're collecting lots of documents and you're scanning stuff in and passing the records it's not hard to go over that end up paying additional as well and finally and finally the last thing that they will charge you for is plugins um there's some of them that will offer optional or third-party plugins to integrate with things like Microsoft Outlook Microsoft Office for example of fax machines etc and these plugins increase the functionality of CRM software across the enterprise so that is something else that you have to be very very careful of as well and I think that kind of gives you an overview of the CRM system what it does what it can do for you and what it offers any questions please put those in the comments down below I thank you for watching this video and is it this is my first class so thank you very much for watching