How to Create a Custom Facebook Audience from Your Easy to Use ConvergeHub CRM for SMB

Most small and medium business owners and users of CRM for SMB would agree that nowadays social media marketing is a very effective and important tool for advertising. However, many small business owners are not aware of all the existing resources and tools that are freely available to create a custom audience for the ads. For example, Facebook is one of the most accepted and trending platforms when we think about advertising on social media as Facebook provides such wide-ranging targeting tools. One of those tools found in Facebook is the ability to upload your self-created custom audience list from your Customer Relationship Management software or an easy to use CRM for SMB platform like ConvergeHub.

Most small and medium business owners and users of CRM for SMB would agree that nowadays social media marketing is a very effective and important tool for advertising. However, many small business owners are not aware of all the existing resources and tools that are freely available in social media platforms to create a custom audience for their ads.

For example, Facebook is one of the most accepted and trending platforms when we think about advertising on social media as Facebook provides such wide-ranging targeting tools.

Selling to people who actually want to hear you is more effective than interrupting strangers that don't- Seth Godin Click To Tweet

One of those tools found in Facebook is the ability to upload your self-created custom audience list from your Customer Relationship Management software or an easy to use CRM for SMB platform like ConvergeHub.

If you have a list of customers that have not been visiting your business page for a while and you are keen upon sending them a targeted ad, as a simple reminder to come and visit you soon, creating a list of the custom audience is a perfect way to do that.

There are a couple of ways to build your custom audience.
Regardless, of how you choose to create the custom audience, the first and foremost thing that you need to make sure is that you have a list of customers that contains their phone numbers along with email addresses.

Next, make sure that this list is saved as either a TXT or a CSV file.

Build a Custom Audience Through Facebook Business Manager:

1. Log into your Facebook Business Manager.

2. Next, underneath the Business Manager Button (located in the upper left-hand corner), click on the Audiences.

 

CRM for SMB

 

3. Click on the Create Audience tab and select Custom Audience in the drop-down menu.

CRM for SMB

 

4. Select Customer File in the list that appears on the screen.

5. Click on “Add Customers from Your Own File or Copy and Paste Data”.

 

CRM for SMB

 

6. Upload the TXT or CVS that you previously created and saved in the pop-up window.

 

CRM for SMB

 

7. To complete the uploading process allow Facebook at least 30-40 minutes and make sure that you name the list in the best possible way to describe its use.

8. Now, you can create a Facebook Ad that is exactly in accordance to your preferred  audience, using your CRM database, once your upload is completed.

OR

Build a Custom Audience Using Ads Manager:

1. Create a Facebook Ad by logging into your Ads Manager.

CRM for SMB

 

2. Under the Custom Audiences (once you reach the audience section) click on Create New Tab and after that click on Custom Audience.

 

CRM for SMB

 

3. Select Custom File in the box that appears on the screen.

4.Click on “Add Customers from Your Own File or Copy and Paste Data”.

 

CRM for SMB

 

5. Upload the previously created and saved TXT or CSV file in the pop-up window.

 

CRM for SMB

 

6. To complete the uploading process allow Facebook at least 30-40 minutes and make sure that you name the list in the best possible way to describe its use.

7.Now, you can create a Facebook Ad that is exactly in accordance to your preferred  audience, using your CRM database, once your upload is completed.

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Takeaway

As an add-on, here is a link to the CONVERGEHUB LEAD GENERATOR, which is a free lead generation software that lets you visit anyone’s social media page and lead generation websites (like LinkedIn, Facebook, Yelp etc.) and capture all information instantly without any manual typing.

Using this free lead capture tool you can save all your qualified leads from social media, Gmail, and even other websites with a single click of the mouse. It also allows you to create notes and follow up tasks to get a head start with that lead.

You can save all these captured leads in the application itself or save them in the ConvergeHub CRM for SMB platform and skyrocket your sales power.

So why wait any more, use ConvergeHub Free Lead Generator along with Facebook Business Manager and reach your targeted audiences seamlessly.

 

Redefining the Values of Customer Success Initiatives in the Era of Big Data

The field dealing with customer success is a discipline that has been around for more than a decade. However, it is only in the recent years that the technology industry has recognized the importance of customer success initiatives with the growth of Customer Life Cycle Management, mostly aided with CLM CRM technology. Pragmatically speaking, the combination of SaaS (Software as a Service) technology and Big Data has created the ideal cradle for heightening and maximizing customer relationships through programs on customer success, which has escalated the sudden interest in this field.

The field dealing with customer success is a discipline that has been around for more than a decade. However, it is only in the recent years that the technology industry has recognized the importance of customer success initiatives with the growth of Customer LifeCycle Management, mostly aided with CLM CRM technology.

Top business establishments those that are specializing in customer success analytics like Gainsight, ChurnZero, MindTouch, Customer Thermometer and many others have raised approximately more than $96 million in funding as of date, and this number is likely to grow as more companies like NomNom Insights, Optimove and others are entering this zone.

12 % amplification in brand advocacy doubles a company's revenue and its rate of growth.- Forrester Click To Tweet

Pragmatically speaking, the combination of SaaS (Software as a Service) technology and Big Data has created the ideal cradle for heightening and maximizing customer relationships through programs on customer success, which has escalated the sudden interest in this field.

Customer success in the recent times has become completely analytics-driven and hence quantifiable, thanks to the advancements in big data technology, which has made predictive modeling of customer behavior possible nowadays. Additionally, SaaS is also flourishing with cloud based CRM software systems in consumers and enterprises adding value to customer success management with CLM CRM technology.

In the Software-as-a-Service space, customer success is essential, as the modern-day SaaS business model only performs if consumers are consistently achieving their business objectives speedily, which is a complete turnaround from earlier business for software.
What we mean to establish over here is that in the earlier software world, the cost to acquire a customer was recovered when a contract got signed. Therefore, suppliers and vendors of the software were never concerned whether their product or service was making their consumers successful since the item for consumption was already out of their hands. Hence, the concept of ‘selfware’ was introduced, whereby companies kept signing contracts, with little regard to customers feedbacks on the software being sold.

Unfortunately, with stellar growth in SaaS technology ‘shelfware’ does not exist in this fast-paced modern IT world. In the present times, if a company is not gaining value out of its purchase, it can and will terminate the contract at the end of a billing cycle, be it a year or after a month.

It is this modern concept that makes customer success management most crucial for any SaaS business, whereby happy customers implies growth in business, while unhappy consumers can mean complete degeneration of business growth.

So, how does success looks like in today’s SaaS space?

Well, there are several factors that signal a successful, data-driven customer success program. Here is a list of the main factors that drive customer success management in today’s world:

Low Churn Rates

Churn is a killer in the SaaS zone, and so any customer success program should primarily address churn rates. This is because even a very little decrease in churn rates can lead to substantially higher returns. For example, just a 3% reduction in churn can lead to 30% higher multiple in valuations. Therefore, after implementation of customer success programs, the best indicator of its resultant effect is the decrease in churn rate.

High Recurring Revenue and Up-sell Rates

The exact opposite term of ‘churn’ in modern businesses is not ‘acquisition’- but its ‘retention’. The cost to acquire a SaaS-based product’s customer, especially if it is an enterprise-level customer, can take even more than 18 months to recoup. Therefore existing customers for SaaS-based products eventually become more valuable and profitable for the company, since you have already covered their acquisition cost. Hence, if your company is successful in SaaS your company’s recurrent revenue from the existing customers will have greater value than for any new customer logos you can add to your brand’s website. Moreover, customer success programs should also highlight cross-sell and up-sell opportunities for your present customers, which obviously translate into increased revenue and sales.

According to a report published by Goldman Sachs:

2 percent increase in up-sell leads to a 28 percent increase in valuation”- which is exactly why customer retention is another indicator of data-driven customer success programs in the SaaS zone.

Change from the old “Firefighting Mode”

 

Although this customer success metric is not very quantifiable, nevertheless an indicator of customer success done right is a gradual shift from ‘firefighting mode’ to proactive customer management protocols. Although most customer success programs in the present times are built to eliminate and fight against churn, true customer success when performed correctly does not just douse the fire during an emergency. A true customer success program rather teaches how your company can engage its customers, and squash issues become they turn dramatic, and encourages bringing the VOC (Voice Of the Customer) into the organization in a meaningful way.

The shift in Organizational Behavior

Lastly, the most prominent and perhaps the most subtle indicator of a successful customer success program is a change in your organizational behavior. What we mean by this, is that since customer success is a journey, is not inside the domain of a singular department in your organization, and can affect every other aspect of your business. Therefore, reduction in cost for acquiring new customers through brand advocacy is also another big indicator of customer success in the modern times.

According to Forrester research:

12 % amplification in brand advocacy doubles a company’s revenue and its rate of growth.

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Takeaway

Therefore, companies that are aspiring to attain true customer success initiatives in the era of big data, throughout their enterprise, irrespective of whether any department is directly involved with customer interactions in the end, they must follow these above stated guidelines, since everyone in the organization ultimately benefits when the customer continues to do business with you.

Unlocking Key Benefits of Sales Automation in Business

Increasing competition, longer sales cycles, fragmented lead data, and expanding sales reps together can be a woeful situation. The more effort you put to generate sales, the more likely you are to feel perturbed by reduced productivity. The Solution: Hence, instead of trudging and slogging for more hours, you must consider how you can get the same job done in lesser time. The solution is simple, find ways to work smarter instead of harder. For when it comes to sales, there is no superior way to accelerate your job than implement a sales force automation software and find the importance of sales force automation in businesses.

Increasing competition, longer sales cycles, fragmented lead data, and expanding sales reps together can be a woeful situation. The more effort you put into generate sales, the more likely you are to feel perturbed by reduced productivity.

The Solution: Hence, instead of trudging and slogging for more hours, you must consider how you can get the same job done in less time. The solution is simple, find ways to work smarter instead of harder. When it comes to sales, there is no superior way to accelerate your job than to implement sales automation solutions and find the importance of sales force automation in businesses.

Sales automation software eliminates time-consuming, repetitive tasks, freeing sales reps to focus on selling. Applicable to businesses of all sizes, SFA software shortens sales cycles, boosts productivity, and increases sales.

What is sales force automation?

SFA is more of an automated process that mechanizes and incorporates distinguishing parts of business processes right from client contact administration, representative execution assessment to handling of sales estimates.

In other words, SFA connects every simple component of any business and allows a consistent flow of information through various branches that would otherwise require serious conceptualization over different levels and so the importance of sales force automation in businesses is considered as one of the most indispensable parts of all effective organizations.

Features of sales force automation

The sales automation process is perfectly designed to deal with most business responsibilities if not all. The features of SFA are subdivided into the following zones:

  • Managing sales territories
  • Managing opportunities and tracking competitors
  • Sales forecasting
  • Managing orders
  • Up-selling and cross-selling

Managing Sales Territories

Lead routing and tracking sales territories are the bulwarks that create efficiency in a sales process. Therefore, instead of using the traditional spreadsheet and obsolete software, it makes more sense to use a good easy-to-use CRM or a free lead generation software that allows you to better manage prospects and leads from the time of their initial capture till the sales are closed.

This is what best small and medium business CRM software along with SFA can do for greater integrity and higher efficiency of the sales process:

• Automation of lead processing along with better management of sales territories helps in winnowing out drilling for individual records and aids in saving time, money, and energy

• Assign leads based on already set proper business rules, which eliminates conflicts over ownership of leads and sales territories

• Send email notifications to the sales reps to follow up on leads and prospects instantly and thereby improve superior service quality, ensuring a higher number of closed deals

Managing Opportunities and Tracking Competitors

For any company to achieve growth and success it is necessary that it must manage and take advantage of every sales opportunity that comes on its way. Another importance of sales automation software in businesses is that when it is a part of an easy-to-use CRM software it can provide the organization with the following benefits that include:

• Find the advantage of maximizing the greater number of sales opportunities and not having to rely only on aggregate lists
• Find which deals have been lost and which were won, an intelligence that can help educate your sales team
• Respond to sales inquiries in a better way creating improved chances of driving return sales and building loyal customers
• Keep track of the customer transactions individually from the time of their first contact till the closing of the sale

Forecasting

Best CRM for small businesses along with SFA can also provide your sales teams with more teeth, and tools that can aid them in making accurate sales forecasts, which include:

• Calculation-based sales forecasting using quotes/orders/opportunities
• Recurrent revenue as well as booking revenue forecasting
• Make sales much more predictable by fine-tuning the forecasting methods and making them more accurate with the help of CRM software

Managing Orders

Managing orders with the help of an SFA enabled easy to use CRM software can aid in streamlining the entire order fulfillment procedure and even cut down unnecessary paper works that in turn provide the sales team more time to sell. It also helps the customers to receive their orders in a timely manner, which boosts customer satisfaction and makes them more loyal in the long term to the company.

A good CRM solution must be built around customers and their orders taking into account:
• Dashboards
• Reports
• Customer intelligence

Best small business CRM solution will also allow your sales reps to work their deals via a sales pipeline right up to the time that the sale is effective. With sales automation you will also be in a better position to convert an estimate into an order with a single click of the mouse without the hassle of involving any great amount of paperwork.

Importance of sales force automation in businesses also represents good order management which will provide your business a means to access latest order information so that seeing the status of the order, your sales reps can understand when it is the ideal time for doing a follow-up.

Customers, on the other hand, can check their order status in a real-time environment via your customer care center or website with the implementation of SFA in a CRM software.

Up-selling and Cross-Selling

The tougher and harder is the competition, the more likely it is that it may erode your customers’ loyalty and thereby affect your company’s bottom line. This is why you need sales force automation in your CRM software, which can show you the history of your past customer orders and then create automated and customized email campaigns to up-sell and cross-sell your products.

SFA helps managers to analyze past sales information, understand order history and the customers’ demography that can help in creating email campaigns that are customer segment specific to improve revenue.

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Conclusion

According to a recent IDC survey, sales force automation in businesses has led to a 30% increase in sales closures, an 18% decrease in sales cycle timing, and a 14% drop in sales administration time. These substantial benefits highlight why integrating SFA into your user-friendly CRM software is essential for staying ahead in today’s competitive market.

5 Things You Need To Do To Increase Your 2018 Revenue Using ConvergeHub The Easy To Use CRM For Small Businesses

Right now, the smartest leaders and many users of easy to use CRM we know of are thinking ahead. Since for them, 2017 is in the history books and their sights are set on 2018. We are sure, you must be having many objectives for next year, and one of them for sure is- “Growth”. So, how are you going to grow your revenue in 2018? Here is a plan to increase sales for small businesses, which we believe you will find suitable for your business.

Right now, the smartest leaders and many users of easy to use CRM we know of are thinking ahead. Since for them, 2017 is in the history books and their sights are set on 2018.

We are sure, you must be having many objectives for next year, and one of them for sure is- “Growth”.

So, how are you going to grow your revenue in 2018?

Here is a plan to increase sales for small businesses, which we believe you will find suitable for your business.

55% of CRM users accept that the most important CRM feature is its ease of use, and that is intuitive and has a user-friendly interface- Gartner Click To Tweet
  1. Clean up data

If your CRM database is in a mess, as in the end, even the best small and medium business CRM software is only as good as the data residing in it, plan to fix your customer data in your CRM database .

For this, ask every member on your sales teams to review all their contacts and clean up the basic information in the easy to use CRM database. Request them to email their prospects and customers to verify the information in the customer database in CRM . Double check the recipients of the emails who have opted in for the communication and then reach out to those that have not. Also, check for empty fields and out of data information.

Takeaway: Any easy to use CRM for small business is the central core for all good and successful marketing workflow, but without clean data, it is a useless tool.

  1. Choose a marketing weapon

Marketing in 2018 is not an easy task, as there several ways to spend your money now. You can Tweet, Email, send letters, advertise in print, make calls, advertise online, advertise on social media platforms…the list goes on. Therefore, even though you can maintain an online and a social media presence, focus on what that will provide you the most bang for the buck while promoting excellence.

For example, if you are in B2B business like us in ConvergeHub, you will find that your prospects and customers respond best to emails, so spend your marketing dollars on sending email campaigns. Test out different campaigns and monitor its results to find which campaign responds the best in your business.

Takeaway: If email is not the best marketing weapon for your business, find out what works the best.

  1. Create a quarterly content plan

This year discontinue doing things seat-of-the-pants and put into practice a quarterly content plan. For example, plan to choose a theme for your online publication every three months that will be of interest to your business community and your customer and then blog, email or post short videos about it. This way you can not only educate your followers but also establish yourself as a subject-matter-expert in your field.

Distribute your content on several social media websites, so that your customers and prospects view your brand as a trusted company to do business with.

Takeaway: Irrespective of how superior are your content, your audience, and followers need to read the information for a few time before they accept it.

  1. Sharpen the pipeline process

Do not let your sales pipeline be a mishmash of email messages and spreadsheets. In 2018, launch a new and detailed pipeline reporting system that you can directly generate from your easy to use CRM software system. If you are using QuickBooks CRM software like ConvergeHub that provides QuickBooks CRM integration free, any prospect or customer who receives a quote from your company will also land on your pipeline report.

Best QuickBooks CRM for sales teams help in tracking customers, responsible salesperson, sales value, product quotes, expected sales closing dates, and probabilities along with most recent actions on any prospect or customer.

This year create a report that will accurately reflect how your open opportunities will affect your cash flow over the next 90 days so that you can plan your ROI.

Takeaway: Be a great sales manager by creating a great pipeline report to keep your eyes on the ball.

  1. Follow the money

Finally, invest majority of your marketing dollars towards your existing brand following community and your customers- that is where the money is. If you are fortunate enough to build up a large list of active consumers of your products and services, maintain this information properly in your CRM database. Next, plan to hold training sessions, events, seminars, and provide other informational materials to your existing customers and fans so that they can use your products better and you can up-sell your products and services consistently.

The money is there in your existing customer database in the CRM- you just need to follow it.

Takeaway: Indeed, acquiring new customers is important. However, know the fact that you will be leaving a lot of money on the table if you do not nurture your existing customers who are already consumers of your brand.

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Conclusion

Regardless of your industry if you follow these plans, we are sure you will increase your revenue in 2018. Since we believe, you will find some of these plans certainly suitable for your products and services.

CRM with Invoicing and Billing: QuickBooks CRM- Big Advantage and Efficiency That Means Money

A CRM working all alone in a silo is not enough to bring business to the next level for all small and medium businesses. However, easy to use CRM software with billing like ConvergeHub QuickBooks CRM, connected to other aspects of your business, can provide your business with that extra push. The growing use of CRM (Customer Relationship Management) tools by small and medium businesses have created a cliché for the modern digital age- if you want your SMB to grow and succeed you are going to need a CRM. As banal as it is, nevertheless the declaration rings true. Relationship with your consumers is crucial, and the tools that you deploy to manage these are just as important for the better performance of your business.

A CRM working all alone in a silo is not enough to bring business to the next level for all small and medium businesses. However, easy to use CRM software with billing like ConvergeHub QuickBooks CRM, connected to other aspects of your business, can provide your business with that extra push.

QuickBooks has more than 80% market share with SMBs that use financial management software. Click To Tweet

The growing use of CRM (Customer Relationship Management) tools by small and medium businesses have created a cliché for the modern digital age- if you want your SMB to grow and succeed you are going to need a CRM.

As banal as it is, nevertheless the declaration rings true. Relationship with your consumers is crucial, and the tools that you deploy to manage these are just as important for the better performance of your business.

Let us take the thought a little further. Many businesses realize quickly that just an easy to use CRM for small and medium businesses, working alone, is not enough to get your business to the next level. Although a CRM with billing and invoicing, connected to other aspects of business like a QuickBooks CRM for sales teams, would be much better.

Here are some of the critical reasons why a CRM with invoicing and billing is a good idea for the growth of your business:

 1. Efficiency and Cash Flow

Every company owner acknowledges and knows that cash flow is the terra firma of businesses. You can always argue that the more efficient your invoicing and billing is, the healthier your cash flow position can become over time. As for whether you are running a multinational establishment or one-man operating out of your garage, you need money to empower your business and ensure that it keeps running smoothly.

Therefore, when the best small business CRM and billing systems are not integrated, small businesses can find themselves losing track of billable items and unpaid invoices, which seldom happens when your CRM software provides QuickBooks CRM integration free .
For not doing so, mostly makes expenses fall through the crack, discounts being offered too liberally, employees forgetting to log time sheets or invoices being not followed up methodically on time.

All these inefficiencies in any small and medium business organization can add up to hundreds, if not thousands of dollars in lost revenue, which can be the difference between a profitable business and a costly one- especially if you are in small businesses.

2. Tracking Every Billable Dollar (Do not Lose the Money You have already Earned)

Let us delve deep into those missed billable items. Businesses often miss out on the revenue that they should have generated, not because of incompetence of their employees, but as sometimes there is just too much information to track manually. This is one of the reasons we have developed ConvergeHub QuickBooks CRM software the best CRM for QuickBooks online.

A robust easy to use CRM system helps you to consolidate all your business data in one central application, making it easier to keep track of customer and prospect related information without having to slog through tons of disconnected spreadsheets, emails, and sticky notes.

Moreover, if your CRM system like ConvergeHub can track projects and support customer tickets on top of that, you have got a full-on business management suite.

For integrating CRM with project management (along with help desk) and billing features lets you take your business several steps further, as doing so, you can automatically capture all revenue related activities across your entire business using only one central app.

Therefore, use QuickBooks CRM to track every dollar you make, be it in projects, sales, or support- and see that everything is billed accurately and on time.

3. Save time and make money

 

Having a system for handling easy to use CRM, projects, billing, and support also implies that you do not have any risk of making potential and costly mistakes due to double entry or miscounting.

Let us assume you are running a digital marketing agency.

Now if all your employees are required to keep close track of time they are spending doing work for your company’s customers and you are using a separate time tracker for your agency’s projects, you will have to transfer all their data from an app to another billing app in order to generate invoice for your clients.

Would not it be great if these two applications were ready to integrate since it should only take a few seconds to do this task (as it is with ConvergeHub QuickBooks CRM)?

Now if everything is handled by one central software system, your employee’s time sheet can be easily accessed by the bookkeeping and accounting system module to generate accurate invoices and on time.

Therefore, if you can find a CRM that can integrate your business management with your billing app that you can cut down on your operational costs by replacing half a dozen separate apps with one centralized software- why would not you.

4. Keep clients happy by helping them better and faster

 

Your business does not just revolve around you; it is also about your customers. A QuickBooks CRM that includes invoicing and billing functionalities not only help your business to get paid faster, but it will also help your employees to understand the customers better and therefore build more meaningful relationships.

For example, one of your customers calls your support team and asking about an overdue fee on their latest invoice. With a QuickBooks CRM that integrates customer relationship management with financial software, your support can instantly look into the integrated invoicing and billing module to find information regarding the question been asked by the customer.

Similarly, sales and marketing can easily see what products and service your customers bought from your company in the past using a QuickBooks CRM for sales teams, letting them tailor their marketing materials and sales pitches to address the customer’s needs.

Customers might not like being sold, but they certainly value being assisted by anyone in solving their issues, which consequently increases your sales and support rep’s up-selling and cross-selling opportunities.

So what are you going to do?

As a QuickBooks CRM with invoicing and billing make sure that, you are being paid for every moment’s worth of revenue that you rightfully deserve; it sets your business up for success.
Since using QuickBooks CRM software you are not spending your time working on disparate tools, your employees will also find more time to spend on what really matters to your business- your products, your customers, and your services.

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ConvergeHub support many different types of businesses and our customers love us.
If you want to find out why and what we can do for you please get in touch or schedule a demo!

5 Critical KPIs To Track As A Small Business Owner Using ConvergeHub QuickBooks CRM

The fact remains, however, that your profits are one of the several factors, which affects your company’s balance sheet. If you are a user of QuickBooks CRM for small businesses, your KPIs (Key Performance Indicators) refer to the values used to assess your business’s success in reaching its goals. Over the course of time, tracking pertinent KPIs can aid you in making critical decisions about your business’s development and growth. Here are 5 most important KPIs to track with the best CRM for QuickBooks online as a small and medium business owner in your industry.

The fact remains, however, that your profits are one of the several factors, which affects your company’s balance sheet. If you are a user of QuickBooks CRM for small businesses, your KPIs (Key Performance Indicators) refer to the values used to assess your business’s success in reaching its goals.

Over the course of time, tracking pertinent KPIs can aid you in making critical decisions about your business’s development and growth.

65% of businesses adopt a CRM within their first five years.- Software Advice Click To Tweet

Here are 5 most important KPIs to track with the best CRM for QuickBooks online as a small and medium business owner in your industry:

#1. Cash Flow Forecast

Cash flow forecasting is an important KPI that let businesses assess whether their sales and margins are appropriate. To make this forecast, you need to add the total cash your small business have in savings to the anticipated cash value for the upcoming four weeks, and then subtract the anticipated cash out for the same period of time.

Intelligent small business owners using QuickBooks CRM software perform day-to-day cash flow forecasts, whereby they can identify upcoming financial problems in their nascent stages and then make necessary changes accordingly.

In addition to aiding small businesses foresee expected surpluses or shortages in the revenue, a cash flow forecasting is also most vital for proposing upcoming business loan applications, and for tax planning of your enterprise.

#2. Gross Profit Margin as a Percentage of Sales

No small business can achieve success if it is paying more to the suppliers than its gross monthly sales revenue. Gross profit margin as a percentage of sales is a financial expression that illustrates total profit margin of a business compared to its revenue.

Therefore, primarily to find your businesses’ GPM (Gross Profit Margin) divide your gross profit by your sales. Thereafter multiply the result, by hundred and you will then get your businesses’ GPM as a number in percentage.

Next, to determine the extent your GMP contributes to your overall sales turnover, divide that integer with your sales amount.

Here is the math for your easy reference:

 ( Gross Profit/Sales x 100) / Sales

The usefulness of using this performance indicator consistently is that this KPI helps you to easily quantify how much cash you are keeping against the amount paid out to your suppliers.

The GMP increases as your business retain more cash, and similarly, a decline in gross profit as a percentage of your sales could be a sign that your business is excessively spending on the suppliers.

As a small business owner using QuickBooks CRM accounting platform, you need to reduce overhead expenses or increase the price of your products or services to compensate for the decrease in gross profit as a percentage of sales.

#3. Revenue Growth Rate

It might seem obvious; however, the revenue growth of a business refers to the rate at which a business’s income or sales growth is increasing.

Therefore, to evaluate a revenue growth rate, start by calculating your business’s total revenue for the whole year, which is very easy to find using a QuickBooks CRM platform. Next, divide the current revenue by the total revenue from the previous year to find your present rate of growth.

By calculating RGR (Revenue Growth Rate) as an ongoing process, you can easily assess whether the growth in your business is increasing, decreasing, or is it in a plateau state.

#4. Funnel Drop-Off Rate

The funnel drop-off rate illustrates the number of visitors, who have left your sales funnel, or abandoned a conversion process, prior to its completion.

In a sales funnel (for laymen, envision a sales funnel as a real funnel pointed downward) there are many conversion steps along the way, while the prospects and leads move from the crest of the funnel to its bottom, where the prospects exit or get converted into a sale.

Therefore, the funnel drop rate is the number of prospects that move away from the funnel prior to sale.

To calculate funnel drop rate, begin by calculating the number of visits of a particular sale conversion step and then subtract the number of visits of the first step in the funnel. Next, divide this new value by the visits of the first conversion step.

In the recent times, for users of easy to use CRM software, the funnel drop off rate KPI has become one of the most important performance indicators that businesses must track using a CRM platform for finding growth or decrease in its sales activities.

#5. Accounts Payable Turnover

A business, especially if it is a small business cannot keep its establishment open for long if it runs out of funds to pay its outstanding suppliers. Accounts Payable Turnover is a KPI that measures the rate at which businesses pays for its required goods and services. It reveals the amount of fund spent on the supplying vendors over a given period of time.

Once you are using QuickBooks CRM software, to find this KPI, sum up the cost of your total purchases under supplies, and then divide it by AAP (Average Accounts Payable). Now, once you are aware as a business owner how much you are spending on your suppliers, you can find out if steps are necessary to reduce your spending that can boost long-term profits for your small and medium businesses.

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Takeaway

It is impossible to make any adjustment to your businesses’ strategies and procedures if you do not know how your business is trending.
For it is only by tracking KPIs on a regular interval, entrepreneurs can measure the factors, which are affecting their business growth and thereafter make necessary corrections that in the long run gives businesses the best shot at success.

What Is The Nuanced Difference Between Influencer Marketing Vs Brand Advocacy

We all have probably heard the terms “Brand Advocacy” and “Influencer Marketing”. Apparently, they can sound like the same thing. Nevertheless, that is not the truth, as in reality each one of these terms can occupy two different specific niches in your digital marketing strategy. Each of these two digital marketing endeavors is important for different reasons, whereby each of them fulfills a unique need and so can be utilized for two distinct purposes. However, the question remains, in spite of their differences can they be utilized together for moving your marketing efforts? So, here we are to dig into this topic to shed some light on the nuanced differences between brand advocacy and influencer marketing.

We all have probably heard the terms Brand Advocacy and Influencer Marketing. Apparently, they can sound like the same thing. Nevertheless, that is not the truth, as in reality each one of these terms can occupy two different specific niches in your digital marketing strategy.

Each of these two digital marketing endeavors is important for different reasons, whereby each of them fulfills a unique need and so can be utilized for two distinct purposes.

92% of consumers trust recommendations from brand advocates- Nielsen Holdings PLC Click To Tweet

However, the question remains, in spite of their differences can they be utilized together for moving your marketing efforts?

So, here we are to dig into this topic to shed some light on the nuanced differences between brand advocacy and influencer marketing.

What is brand advocacy?

Brand advocacy refers to the promotion of the company by general people who are in love with your brand. Brand advocates can include not only your satisfied customers, but they can also be your employees, or per say, anyone else who has an affinity for your products or services.

Anyone who loves your brand can be your brand advocate and may talk about your product or service in conversation with their family, friends, peers, and relatives.

In other words, any person who is willing to recommend your brand to another individual can be an advocate of your brand.

Although influencer marketing is a hot topic nowadays, nevertheless, brand advocacy indeed has a bigger potential to drive a larger ROI and have a greater impact on the success of your brand’s marketing campaigns than influencer marketing.

Here are two statistics to prove the veracity of our statement:

  • 18% of consumers trust good word and testimonials from industry influencers. (Forrester Research)
  • 92% of consumers trust recommendations from brand advocates. (Nielsen)

What is influencer marketing?

An influence, on the other hand, is an individual who is considered as a thought leader and an authority in their industry. For example, Paul Greenberg (author of the book “CRM at the Speed of Light“) is certainly an influence in the CRM industry. People look to him for expertise and advice to help guide them along the road to success. Paul Greenberg, Warren Buffet, Kim Kardashian, Gary Vaynerchuk are some of the examples of big league influencers- persons you are not likely to get a response from easily if you want to engage your brand and is new in influencer marketing.

How do you identify an influencer?

You can find plenty of influencers in your specific industry, individuals whom people look to for suggestions, guidance, and advice.

Find those individuals who run a widely read and highly successful blog in your industry. Else, keep an eye out for people who have enormous social media followers pertaining to your industry. These individuals are easy to spot if you know what to look for. Influencers are mostly semi-famous in their niche industries and many even charge fees for their collaborations.

Influencer marketing, when performed in a proper manner, can generate a significant return on ROI. According to an exclusive survey done on influencers by Tomoson :

Most businesses today are making $6.50 for every $1 spent on influencer marketing.

However, as a word of caution from our end, if you are a newbie in this game, you should be careful with influencers. As most influencers decide to be influences, so they can earn money. Therefore, watch out and remain beware of those influences who may not be interested in your industry and topic as they might appear to be, but are rather in the game just to make an easy buck.

How to generate and utilize brand advocates?

There are many ways to generate brand advocates. Here are a few basic methods for generating and leveraging brand advocates for any industry:

  1. Focus on customer satisfaction

One of the most successful ways to generate brand advocates is to maintain a high level of customer satisfaction among your consumers by delivering an excellent customer experience. You as an owner of a brand must make all the efforts that are needed to keep your buyers happy since if you do so, they are more likely to become advocates of your brand.

Maintaining customers over a long period of time using an easy to use CRM like ConvergeHub, who are satisfied using your products or services also results in building brand loyalty. An activity that other than generating additional revenues also helps to generate brand advocates in your established markets.

  1. Maintain happy employees

Remember, all the employees in your organization have the potential to be awesome advocates of your brand. Therefore, treat your employees well, and you can be sure that they are most likely to recommend your brand to their friends and family. Running employee engagement programs are an excellent means to make your employees feel like they are a part of a family. You can also run a workplace satisfaction survey among your employees and implement changes in your organization based on its results to make your employees feel heard. Praise your employees and reward them for a job well done to create a positive work environment around your business.

All these gestures will definitely make your employees feel more motivated to work harder, provide them morale boosts, and so they will naturally speak to their friends about your brand.

  1. Find them on social media

Once you use social listening and monitoring tools, you can easily get an alert in real time, when someone mentions your brand’s name on the social media platforms. Now, if you can engage them immediately and praise them for their kind words, they will for certain appreciate your gesture and so when they return to social media and continue to talk about how awesome your brand is, you will be successful in creating your social media advocates.

How do you leverage industry influencers?

Primarily if you want to identify the right influencer for your audience and your brand, then think about how you can reach them out to propose a mutually beneficial collaboration.

Here are two key strategies for leveraging influencer in your marketing efforts.

  1. Mutually beneficial collaboration

Once you have established a relationship with an influence, you can propose things like interviewing them for podcasts, exchanging guest blogs, co-authoring blogs with them, and more. Blast the results everywhere you can, once you have produced any type of deliverable or content in collaboration with your influencer. This blasting outreach can span across social media, press releases (if the resulting product is newsworthy), email newsletter campaigns etc.

  1. Tapping into your influencer’s network

However, the real value of influencer marketing comes in when your influencer shares the result of your works on their social media platforms. Doing so, your influencer provides you an exposure to their entire network, which considerably increases the reach of your content and gets your brand recognized to a mostly new audience. When your influencer’s followers see that, the influencer is working with you; they will most often navigate to your website or landing pages to learn more about what you do or about your products or services.

Conclusion

Therefore, as you can see both brand advocates and marketing influencers have their parts to play in growing your business. However, while influencers are more difficult to obtain, brand advocates fill a different need, word of mouth advertising, an advice that comes from someone they know and trust personally.

Hence, in a gist, although your brand can only have a handful of influencers, you can have thousands of brand advocates, those who can do the work of promoting your brand on their own.

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Do you have any lessons or tips learned from any marketing influencer or brand advocate? Share them with us in the comments section below!

5 Key Factors Of Successful Lead Scoring

The inbound marketing bug has already bitten most of the modern day marketers. Therefore, once your inbound marketing is running successfully and you are generating a high volume of fresh leads, you need to score those leads for further actions. Successful lead scoring aligns marketing and sales automatically. When it comes to lead scoring, we have some good and some bad news for the readers of this blog. Disclosing the bad news first it is, that only 23% of salespeople say that the marketing department delivers sales-ready leads. However, the good news is that this does not have to be the case. Lead scoring that provides sales-ready leads is easier than you can think, as long as you comprehend your buyers and build a lead scoring process around their behaviors and interests.

The inbound marketing bug has already bitten most of the modern day marketers. Therefore, once your inbound marketing is running successfully and you are generating a high volume of fresh leads, you need to score those leads for further actions. Successful lead scoring aligns marketing and sales automatically.

Only 23% of salespeople say that the marketing department delivers sales-ready leads- Data2CRM Click To Tweet

When it comes to lead scoring, we have some good and some bad news for the readers of this blog. Disclosing the bad news first it is, that only 23% of salespeople say that the marketing department delivers sales-ready leads. However, the good news is that this does not have to be the case.

Lead scoring that provides sales-ready leads is easier than you can think, as long as you comprehend your buyers and build a lead scoring process around their behaviors and interests.

Comprehending your leads

A well-performing lead scoring machine can align marketing and sales efforts and do wonders for your pipeline. The most efficient lead scoring sees two main aspects of a lead’s journey with your brand: Behavioral aspects and Demographic aspects

Behavioral aspects

The behavioral aspect of your prospective customer’s interaction with your product or service includes the way they purchase, where they like to interact (web, phone, social media, email) and what they find most interesting about your brand. Web analytics are a powerful way to understand the lead’s interests in tracking how many web pages a lead visits on your brand’s website, which pages they like to view more and for how long. Are they opening the emails in one of your particular campaigns or responding particularly well to an SMS message about a new product or service?
All these are behavioral aspects of a lead.

Demographic aspects

The demographic aspects of any lead identify common characteristics of your prospective customers. Especially main characteristics such as company size, location, the range of the revenue. On an individual level, the demographic aspects include categories such as job titles, age group, gender, income level and others.
However, the most vital demographic aspect of the lead scoring process depends on the particular business on an organizational and individual level.

The critical harmonious balance for the lead scoring technique is where the behavior and demography intersect. Once you identify that intersection, it is time to build the lead scoring system for your brand.

5 Key Factors Of Successful Lead Scoring

Which are the factors that you apply for setting up your lead scoring process completely depends on your business model, but these building blocks of the lead scoring system are the same for all small and medium businesses.

Here are the five key factors for setting up an effective and robust lead scoring process that can automatically align both your marketing and sales efforts. 


  1. Define your criteria

Even before you start your lead scoring rules, brainstorm with your sales team for identifying your brand’s ideal customer. This is the basic criteria for building your lead scoring system. There may be different types of customer personas for your ideal customer, if it is so, find out where do those buyers overlap.


  1. Recognize your Target Audience (TA)

Once your ideal customer conditions are finalized, the next step is to identify your TA (Target Audience). The questions that you should ask your marketing team to find out your TA may include:

  • Are you TA based in Europe, North America, Middle East, or are they spread across the globe?
  • Which income group is the TA inclined towards?
  • Is your TA composed of mid-level management or top-level managerial staffs?

Although your sales team may help you to find information about your target audience, your marketing team is best equipped to answer these queries on your TA.


  1. Define your brand’s unique customer journey

Find out what the steps in your customer journey are, and how these steps should be scored? Once you have the characteristics of your leads well defined, focus on your lead’s behavior with your brand. List out all the possible touch points through which your prospective customers engage with your brand before they become your loyal customers. Over here, some behaviors may be more important than others. Make a list and assign score points to empathize each step’s importance. These mentioned steps may include:

  • A lead opening an email
  • A lead visits and signs up on your website’s signup page
  • A lead registers for a webinar etc.

The points allocated for each of these actions taken by the leads may vary from business to business.


  1. Structure a system and assign scores

After the behavior and characteristic aspects have been identified, define your lead scoring structure. For example, if you focus on the North American market, then you give leads from North America a positive score versus a lead from China or India (or this might also be the other way around). Another instance is when you allot a negative score to any lead coming to your brand’s job page because those leads are concerned for working in your organization and are not anxious about buying your product.

Once your lead generation process is ready for operation, you need to deal out a particular number or score to every touch points of your leads, which should be based on the priority that you have set for each aspect.

Do you want to provide higher scores to leads visiting your brand’s pricing page than leads visiting your career page?

Do you want to give a higher score to leads coming from private companies than those are from government institutions?

All these decisions should be incorporated into your lead scoring system.


  1. Track and Tweak

The last key factor to this lead scoring building blocks to make a good lead scoring system is to continuously track and tweak the lead scoring process.

Do not be surprised if you discover new aspects of your lead’s behavior that are crucial to defining a buy-ready lead.

For example, if you find that leads that are visiting your blog page are converting more than who are visiting your webinars, you should revise your lead scoring points for webinar visits and increase the ranking for the blog visits of your prospective leads.

Conclusion

Most silo marketing automation systems and easy to use CRM that have inbuilt marketing automation platforms, provide some sort of lead scoring functionality. However, it is essential to choose the one that exactly syncs with the model of your business.

Moreover, lead scoring for small and medium business is different from what it is for large enterprises. Therefore, always discuss with your sales and marketing team to improve your implemented lead scoring process.

Marketing Automation Vs Easy to Use CRM- Where lays the difference

There are many among us that think the term CRM and marketing automation relates to the same type of software. Although it is true that there is some overlap in the kind of information each of these systems utilize, nevertheless, both these software systems are very different in terms of who uses each one and the tasks that these systems support in growing your business. Therefore, it can be said that marketing automation systems often work closely with easy to use CRM software, as there are several easy to use CRM solutions that have incorporated marketing automation functionalities, like ConvergeHub.

There are many among us that think the term CRM and marketing automation relates to the same type of software. Although it is true that there is some overlap in the kind of information each of these systems utilize, nevertheless, both these software systems are very different in terms of who uses each one and the tasks that these systems support in growing your business.
Therefore, it can be said that marketing automation systems often work closely with easy to use CRM software , as there are several easy to use CRM solutions that have incorporated marketing automation functionalities, like ConvergeHub.

Briefly stating, automation is more of a generic idea, which reduces the repetitive labor of communicating with the customers, for example triggering emails and others. Therefore, while marketing automation is characteristically used for nurturing lead, easy to use CRM software helps in looking after the resultant customers.
However, this distinction is no longer a helpful one, given the fact that marketing automation is getting more and more embedded with easy to use CRM systems.

Less than 10% of the total contacts stored in the marketing automation system are leads that are really set to be qualified- Forrester Research (2016) Click To Tweet

What Is Marketing Automation?

Marketing communication is all about effective, low-cost communication with customers and prospect, which implies email and social media communications. All marketing automation system starts primarily with email blasting and adds myriads of features designed to facilitate effective and beautiful mail sequences on an industrial scale. In order to improve the effectiveness of emails, the marketing automation system includes mail templates and campaign designers to provide a consistent and clear path for the customer as their level of interest and subsequent information evolves. The customer journey from basic awareness through curiosity for the brand to the desire for purchase and finally to action is explicitly mapped with call-to-action and contents that are tuned for each branch in the customer journey.

In the recent times, marketing automation platforms that link social media have many features to leverage Twitter, discussion-board interactions, and Facebook with email campaigns and the website.

Therefore, effective marketing automation systems are actually content management platforms in disguise, so that the system can manage its content assets through their lifetime. As these assets are typically stored on the website of the company, the marketing automation system needs to be able to quickly generate attractive registration and download pages. Moreover, since the behavior of the prospects cannot be anticipated in advance, marketing automation platforms need to have an inbuilt workflow management feature to facilitate “A/B split testing” that provides information to guide the campaign sequences and refine web pages for producing optimal results.

CRM and Marketing Automation: Are they better together?

 

Therefore, if the heart of marketing automation is blasting emails, the core of CRM is SFA or Sales Force Automation.
While both these systems operate on contacts, leads, and companies, they run on very different contexts.

To explain simply, marketing automation users are mostly focused on leads, while in contrast, the SFA users see leads important in the short term, as the sales teams will be working on deals (opportunities) and talk with contacts (leads that have been promoted or converted).

So easy to use CRM systems must support the following sales business processes:

  • Lead qualification
  • Early sales cycle (including call scheduling and demos)
  • Pipeline management and forecasting
  • Order configuration and quotation generation
  • Order confirmation and fulfillment
  • Contract establishment and termination
  • Ongoing account management
  • Renewals and repeat orders

Hence, the output of the marketing automation system is obviously the input to the easy to use CRM system. However, that lineage should be only for those leads that are really set to be qualified, which is typically according to Forrester Research survey below 10% of the total contacts stored in the marketing automation system.

Conclusion

Best small and medium business CRM like ConvergeHub subsumes marketing automation under its CRM umbrella, which aids in customer journey management, campaign management, email blasting, and several other features that are typically used by the marketing departments using the customer management software platform.

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Therefore, you can increase the number of leads you attract with a strong marketing automation system, and then nurture them through to conversion via your easy to use CRM system.
In addition, you can also increase the effectiveness of personal relationships with your leads and customers using easy to use CRM softwarewhich results in more sales and higher profitability!

6 Most Effective Lead Generation Strategies and a FREE TOOL for Small and Medium Businesses

Lead generation is the primary and the most significant stage of a sales cycle. In fact, it can be called as the “sales engine” of any business. Lead generation strategies followed at this stage reflects directly on the sales revenue. Since, if the lead that has been generated is not of superior quality, which means in other words, if they do not fit your brand’s ‘ideal customer profile’, your sales funnel and pipeline could end up to be extremely weak and vulnerable for a drop in sales revenue. As a procedure, lead generation helps to move focused prospects into your sales funnel whereby you can target those leads for nurturing and eventually generate a sale. Here are a few low budget lead generation ideas for small and medium businesses, which we found interesting enough to share for the growth of SMBs.

Lead generation is the primary and the most significant stage of a sales cycle. In fact, it can be called as the “sales engine” of any business. Lead generation strategies followed at this stage reflects directly on the sales revenue. Since, if the lead that has been generated is not of superior quality, which means in other words, if they do not fit your brand’s ‘ideal customer profile’, your sales funnel and pipeline could end up to be extremely weak and vulnerable for a drop in sales revenue.

Lead generation includes the technique of collecting a database of potential leads with their contact information. Since, small and medium businesses’ strategies circles around the principals of spending less and gaining more, lead generation tactics should never become an uneasy overhead for your company.

84% of consumers trust the recommendations made by their family and friends.- Nielsen Survey (2017) Click To Tweet

As a procedure, lead generation helps to move focused prospects into your sales funnel whereby you can target those leads for nurturing and eventually generate a sale.

Here are a few low budget lead generation ideas for small and medium businesses, which we found interesting enough to share for the growth of SMBs:

#1.  Exit intent popup

Creating an exit intent popup for your website hardly requires 15 minutes. Exit intent popup helps businesses to track the movement of the website and mobile application users by offering an opt-in form when they leave your website.

Once you find your website visitor is leaving your site, by creating exit intent pop-up, without acting on a CTA (Click to Action) button like registering or buying, you can interrupt your visitor and re-direct them to take a specific action.

Several large organizations have been using this technique since long and have achieved exemplary results by implementing this as a part of their marketing strategy.

You can use exit intent popup when people are leaving your pricing page, landing page, or abandoning your shopping cart, because these parts of your website allow people to make the most important decision before buying your products and services.

#2. Add call-to-action button

Popularly known as CTA, call-to-action buttons are used for drawing people to use a particular product, application, or service. CTA is meant for provoking instant responses. For example, they provide the consumers with compelling reasons to make an immediate purchase with click-bait verbiage like- “This offer expires in 3 hours”.

You can include call-to-action buttons in your digital brochures, catalogs, emails and others. Hence, a CTA needs to be designed in an effective manner that incorporates click-worthy contents. For instance, you can include in your CTA content what your product or service can offer and how the consumer can actually sign-up and use it for free.

Always make sure that your “Sign up for Free” CTA button should be jazzy enough to stands out predominantly over everything else on the web-page.

#3. Share best practices or success stories

Most of your consumers would always like to know if your product or service really stands up for what you say or can it deliver the solution your consumers are looking for.

The best way to answer this question is to showcase what your brand did for your customers, and how their business benefitted by purchasing your products or services.

Therefore, while sharing your success stories, write a small compelling introduction, with a CTA that requires your prospects to fill in their details, once they want to download them.

This way, you will understand that your prospects are trying to find a solution to the challenges you noted in your story and might be interested in purchasing your products or services for solving their issues.

#4. Guest blogging

Guest blogging is a roundabout way for generating leads. Blogging as a guest on other’s websites increases your web traffic and thereby introduces prospects to your solutions, by using back-links within the blog contents to redirect traffic to your website.

Guest blogs are mostly published on websites that attracts very high traffic.

However, before you start blogging here are a few things that you need to remember:

  • Provide compelling contents that are focused on your niche
  • Post contents only on those websites where the audience fits your niche
  • Be sure that the owner of the blog is active on social media websites

#5. Add testimonials

Testimonials are similar to success stories but while success stories are written from your end, testimonials are provided directly by your customers, in their own words.

You shall often find customers who reach out on social media to appreciate your product, customer support endeavors, or even your organization. You can always leverage these testimonials and publish them on your website.

Testimonials are a highly effective way of demonstrating your success that helps your potential customers to decide on making a purchase.

#6. Add social proof

According to Nielsen Survey: “84% of consumers trust the recommendations made by their family and friends.”

Therefore, word of mouth marketing on social media is one of the best ways for generating leads. There are several portals that allow you to get connected to your potential leads. One such portal is LinkedIn.

Once you are connected with the leads and understand the level of interest, you can initiate conversation with the prospect or even create LinkedIn Groups, which allows people with similar taste and interests to comment or react to your postings on the group.

Takeaway

As an add-on, here is a link to the CONVERGEHUB LEAD GENERATOR, which is a free tool that lets you visit anyone’s social media page (like LinkedIn, Facebook, Yelp etc.) and capture all information instantly without any manual typing.

Using this free tool you can save qualified leads from social media, other sites and even Gmail with one click of the mouse. It even lets you create notes and follow up tasks to get a head start with that lead.

You can save the captured leads in the Lead Generator itself or save them in the ConvergeHub CRM for even more sales power.

Did we miss on any other lead generation strategies for SMBs, on a low budget?

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In such a case, please comment and let us know about it in the comment box below.

How do GDPR principles apply for best small and medium business CRM software data management?

For not only best small and medium business CRM software data management, the European Union’s latest GDPR (General Data Protection Regulation) constitutes a paradigm shift in the consumer ownership of all Customer Relationship Management software data. The GDPR principles apply to any business that the CRM company has with users living in Europe, and so GDPR norms will affect CRM organizations globally. There are also GDPR guidelines that cover the principle for the flow of information of consumer data out of the European Union.

Not only for best small and medium business CRM software data management, the European Union’s latest GDPR (General Data Protection Regulation) constitutes a paradigm shift in the consumer ownership of all Customer Relationship Management software data.

The GDPR principles transfer the authorization and ownership to use the data frequently processed by CRM platforms, which includes:

  • The customer’s names
  • The customer’s Social Security Numbers
  • Income
  • Addresses
  • Medical information
  • Purchasing histories and others

The GDPR principles also apply to the data normally used for tracking the users across websites, which includes browser information and IP addresses of the visitors.

Personal information protection is the foundation of trust, which is the basic right of man and the backbone of the digital economy. Click To Tweet

All easy to use CRM enterprises even bear a responsibility to provide notice to all the affected parties of a CRM data breach, that too within 72 hours.  Since failure to abide by this deadline could lead to a penalty of up to €20 million or 4% of the company’s revenue.

Moreover, online lead management software vendors also need to appoint a Data Protection Officer to supervise CRM data management in their organizations.

The GDPR principles apply to any business that the CRM company has with users living in Europe, and so GDPR norms will affect CRM organizations globally. There are also GDPR guidelines that cover the principle for the flow of information of consumer data out of the European Union.

Based on the GDPR protocols any European Union’s citizen can now make several requests to a customer information database software development enterprise like:

  • Delete all or some of his or her data.
  • Enquire how his or her data is being used.
  • Enquire how a decision that used his or her data was made?

Some of the important ways this GDPR principle affected the best small business CRM data management include:

  • All CRM companies must audit their CRM database archiving systems to find where the data is being stored.
  • All CRM companies must assess their partners that provide leads and process the CRM data for services like analytics.
  • All CRM companies must set up convenient ways to automate CRM data across all partner services and internal systems as and when requested.
  • It is essential to evaluate analytics services and AI used to analyze easy to use CRM data and to make decisions so that the company can answer user requests as per GDPR norms in simple language.
  • When a breach occurs, CRM companies need to build a workflow process to speedily inform the affected users of the data infringement.

GDPR Checklist

 

GDPR Data Protection Officer’s Role and Responsibilities

As the General Data Protection Regulation goes into effect this 25th of May 2018, it has set forth a number of prerequisites for CRM enterprises that store and process personal data of citizens living in EU. One such requirement (as per Article 37), is that organizations will need to appoint someone to take on the GDPR Data Protection Officer’s role.

Although there is no specific qualification required for this position, however, GDPR criteria state that the DPO must have “expert knowledge of data protection law and practices.”

Here is a list of the DPO’s responsibilities as it is mentioned in the GDPR:

  • Keep the controllers informed of the obligations and responsibilities pertaining to data protection.
  • Communicate with data subjects about the rights pertaining to use and handling of their data.
  • Counsel the company as to how data protection rules should be applied and interpreted in the organization.
  • Create and maintain a register of the organization’s processing operations.
  • Initiate communication with EU of any intended processing operation that could breach the data protection rights of its citizens.
  • Ensure that the company maintains ongoing data protection compliance.
  • Respond to any applicable data protection related complains or questions.
  • Act as the point of contact for the European Data Protection Supervisor and assist requests for investigations, inspections and so on.
  • Inform the company of any failure to comply with applicable data protection rules.

Conclusion

Therefore, with the onset of GDPR principles CRM vendors like ConvergeHub with strong data protection initiatives already in place, will most often than not find that few significant changes are required at the IT level although some changes may be required pertaining to workflow and documentation requirements.

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However, adhering to the GDPR principles is likely to be the biggest challenge of the decade for many CRM companies that will face a major hurdle for establishing an initial state of compliance, as CRM is a platform that owns a vast repository of data.

Hence, to figure out what data the organization actually owns, how the data is used, where the data is stored and what security measures are in place is surely a monumental task for less organized CRM enterprises in 2018.

4 Must-Have Add-ons for your Easy to Use Small Business CRM System

When people ask me what easy to use small business CRM system to buy, I always suggests that, whatever be their preferred choice, the CRM application should be Cloud-based. Why? It is because Cloud-based or SaaS applications join much better and updates quicker than On-Premise CRM systems. Additionally, changes made in one platform is seamlessly altered in the other integrated applications, rather than making amendments in multiple separate apps. Moreover, tools are more consistent, and support is faster for cloud based CRM software. The best small and medium business CRM systems like ConvergeHub offers tools and applications so that third-party vendors can build custom solutions and connect their software systems with ConvergeHub, in order to provide a more robust experience for the users.

When people ask me what easy to use small business CRM system to buy, I always suggests that, whatever be their preferred choice, the CRM application should be Cloud-based.

Why?

It is because Cloud-based or SaaS applications join much better and updates quicker than On-Premise CRM systems. Additionally, changes made in one platform is seamlessly altered in the other integrated applications, rather than making amendments in multiple separate apps. Moreover, tools are more consistent, and support is faster for cloud based CRM software.

In 2008, only 12% of businesses used cloud-based CRM – This figure has now increased to 87% in 2017 (SuperOffice'2018) Click To Tweet

The best small and medium business CRM systems like ConvergeHub offers tools and applications so that third-party vendors can build custom solutions and connect their software systems with ConvergeHub, in order to provide a more robust experience for the users.

Because of this, most of our customers use one or two third-party applications, since ConvergeHub easy to use CRM provides several choices to choose from.

Here are the top four and the most trending types of add-ons which most of our customers use for escalating their business processes every day:

Accounting

When any customer calls, it is natural that you would always want to make sure that you have every detail about them right at your fingertips. An easy to use CRM will always be tracking emails, activities, notes from the CRM database . However, what about the rest? What about order histories, open invoices, and products bought by the customer?

Let us be clear that a CRM system is not an accounting and bookkeeping software. Hence, it lacks the audit controls required for creating a powerful financial database.

This is the reason why most of our clients prefer to integrate ConvergeHub with QuickBooks, which is one of the most popular online accounting software in the USA.

ConvergeHub QuickBooks CRM that offer QuickBooks CRM integration free is one of the best CRM for QuickBooks online that allows the customers to synchronize contact information and also view the transaction history of the customers on the go.

Additionally, ConvergeHub QuickBooks CRM software even allows the users of the CRM to create invoices in the CRM system and the port it over to the accounting database.

This way ConvergeHub QuickBooks CRM eliminates double entry and helps the sales and support reps to find all the information they need about their customers in real time.

E-Mail Marketing 

If you need to send a few hundred emails at a time, they any efficient easy to use CRM should be able to handle it. However, if your business needs to fire thousands of emails every day to several opt-in lists, then the best small and medium business CRM software needs to be integrated to a dedicated email marketing service like MailChimp and others.
Why?
For, to begin with, your local internet service provider may shut you down if you do not. Nevertheless, that will never happen with an efficient and popular email marketing service, because their only job is to assure their customers the delivery of the mails. Any good email service like MailChimp will put your emails through certain diligent protocols to make sure that your messages are not inappropriate and they do not find their way to the spam box. For once, your emails have passed the email provider’s thorough tests, the email service provider should be able to handle thousands of emails at a go and bring the results of those email campaigns back into your easy to use CRM, so that you can use analytics to measure the results and if needed modify your future campaigns.

Phone 

Would not it be nice if when you receive a call, the caller’s records automatically pop up on your window with all their history of prior interactions with anyone in your company? Moreover, would not it be productive if you can have the ability to start an outgoing call with just a click of the button right from your contact’s database or, be able to seamlessly record any phone calls and attach the audio-file with the called contact’s record for listening in the later times?

You can get all these if you integrate your best small and medium business CRM software with a cloud-based phone system like NextInteractive Dialer or RingCentral, which can access contextual information during calls and provide a personalized experience for building better relationships.

If you are a user of ConvergeHub, you can set up these integrations in a few minutes with a couple of simple steps for making your calls faster and keep better track of your prospect’s and customer’s call activities.

Data Integration 

Sometimes a specific add-in that you need for your niche business may not exist. In the past, that would have been a problem. However, today there are several cutting-edge powerful tools, which are automatically configured to read the tables of your easy to use CRM system. With the help of these robust tools, you can easily read and write data in and out of the CRM and the required software needed for your business. Moreover, even if some of these tools cannot cut, then a good CRM system’s API can help you to accomplish your objectives, although you may require an experienced software programmer to accomplish the feat.

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Takeaway

Always remember that your best small business CRM is just a database. However, it an extremely important database that is storing information about everyone that comes in touch with your business.

Therefore, it is extremely important that you must integrate your CRM with these few illustrated software mentioned above so that you can leverage your CRM data.