Tag: Rocket Launch 2019

Reasons Why Customers Will Rush To Do Business With You In 2019

Before pressing on the ‘reset’ button for scaling up your business, understand the simple truth quoted by Simon Sinek, the author of the book Start and Why: “People don’t buy what you do; they buy why you do it.” A quote that will make you think differently now, behind why a consumer of your offerings chooses to do business with an organization. Although there are plenty of reasons to consider, however as the award-winning vendor of one of the best small business CRM software solution, here we are putting together a very short list of some of these ‘Whys’.

If you wish to reach your business goals (who does not?), do not get seduced into making New Year’s resolution once again in 2019.
Why?
This is because researches say that resolutions do not work.
Nevertheless, paradoxically, if you do not make them, chances are there you may be more likely to achieve and maintain your goals.

According to Statistic Brain Research Institute based in California, USA:

“41% of Americans make New Year’s resolutions in the first place. But here’s the thing — only 9.2% of us are successful in achieving them.”

Therefore, before pressing on the ‘reset’ button for scaling up your business, understand the simple truth quoted by Simon Sinek, the author of the book Start and Why:

“People don’t buy what you do; they buy why you do it.”

A quote that will make you think differently now, behind why a consumer of your offerings chooses to do business with an organization.

People don’t buy what you do; they buy why you do it.- Simon Sinek Click To Tweet

Although there are plenty of reasons to consider, however as the award-winning vendor of one of the best small business CRM software solution, here we are putting together a very short list of some of these ‘Whys’:

1. Price

Let us clear this factor out of the way first. There are several individuals those who chose pricing as a primary factor before deciding on their purchases.  However, those companies that get customers just because of low price will lose customers when someone else has a cheaper price.
Therefore, the loyalty of these customers to the company is because of price, not the brand itself.

2. Convenience

Who does not want a frictionless and easy buying experience? Moreover, customers are often willing to pay higher prices if their customer experience is convenient.
Therefore, if you know what is CRM, use an easy to use CRM software like ConvergeHub to enhance your customer experience and skyrocket your revenue this year.

Here is the good news, by signing up for a FREE 30-minute Rocket Launch 2019 session you can take the first step towards creating massive growth for your company in 2019.

During the Rocket Launch session, Team ConvergeHub will do a deep dive into your business along with you, and brainstorm how ConvergeHub can help you acquire leads, automate your sales process, improve your conversion and get more referrals from satisfied customers.

3. Customer Service

When your employees are friendly, quick to respond, and knowledgeable, your customers will like the way you treat them.
They will understand that like they are there to take care of your brand, you are also taking care of them by doing business with them and providing them service as per their unique needs.

4. The Culture

Every organization has its own culture, whether by default or by design. The culture is the personality of your brand and your company. It is the sum of your organization’s beliefs, expectations, ethics, values, mission, and goals.

According to an article published in Forbes, it states that a great corporate culture that engages employees is a drug for improving customer experience since customers want to remain affiliated with organizations when their values are congruent with their brands.

5. A Cause

You should believe in what your customers believe in. At a level this ties into your organization’s values and culture. However, this is also about giving back and your company’s community involvement in events which can be your organization’s participation in a charity event or any other cause that is important to you, everything from saving Rhinos to alleviating world hunger.

6. Trust

Trust your customers and do what they say, every time. This is because if your consumers do not trust your brand, they would probably not be doing business with your company anyway.

7. Reputation

Your consumers may have heard good things about your organization. Maybe it is just from their colleagues at work or friends, or maybe there are plenty of good reviews about your brand on the internet. Whatever be it, your company’s reputation plays a big part in securing the decision of your customers.

8. Consistency

Consistency is most often tied with reputation and trust of your customers for your organization. Outside of lying, if there is something that erodes the trust of your consumers quicker than anything, isyour businesses’ lack of consistency.

Therefore, if you want your customers to use the word ‘always’ to describe their customer experience with your brand, like ‘They are always knowledgeable, helpful and friendly..’ remain consistent with your good behavior with the customers.

9. The Way

The way you do your business is one of the many reasons why customers chose to come back. This is all about your business policies, processes, the hours you remain open, your location and more. Although these are mostly tangible reasons, nevertheless, these factors count to get a customer in your door.

Finally- The Why

Let us end this article where we started with Simon Sinek’s quote, “People don’t buy what you do; they buy why you do it.”

Although all these reasons (and more) may contribute to the decision as to why a customer may choose your brand over others this year, figuring out a customer’s ‘Why’ and scaling it to meet their reasons can help you bring customers back again and again in 2019 and for many more years to come.

Using a small business CRM software like ConvergeHub that provides a 360-degree view of your customers stored in its CRM database, is an ideal tool for measuring your customer journey and thereby increase CLV (Customer Lifetime Value) as it is often quoted that:

“Acquiring new customers costs 5 to 10 times more than selling to a current customer, and current customers spend 67% more on average than those who are new to your business.”

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The Importance Of A Clean CRM Database To A Successful Sales Team

Regardless of what industry you are in, growing your business to new heights can really be a challenging up-hill job. In any business, its sales teams achieve success for a number of reasons, and so it is often tough to exactly pinpoint why one business or a sales team is more successful than another. Nevertheless, there are in general two important factors that most thriving sales teams employ for success and growth of their businesses- the right easy to use CRM software and proper data management of their CRM database.

Regardless of what industry you are in, growing your business to new heights can really be a challenging up-hill job.
In any business, its sales teams achieve success for a number of reasons, and so it is often tough to exactly pinpoint why one business or a sales team is more successful than another.
Nevertheless, there are in general two important factors that most thriving sales teams employ for success and growth of their businesses- the right easy to use CRM software and proper data management of their CRM database.

Why?

This is because to move ahead in this modern competitive marketplace, businesses need to have the right people and essentially the right tools to work hand in hand.

ConvergeHub's ROCKET LAUNCH 2019 can help you acquire leads, automate your sales process, improve your conversion and get more referrals from satisfied customers. Click To Tweet

Therefore, when businesses use the data utilized by their sales teams on a day-to-day basis (which includes actions taken by the sales teams to turn prospective leads into customers) and input that data into the CRM database, it creates a potent business model that provides any business an edge over its competitions.

After all, there is simply no point in adopting a robust and easy to use CRM software , if you cannot use it to its full advantage- manage all your businesses’ data, and streamline the sales process for your marketing and sales teams.

Since, proper and effective CRM data management in combination with an intelligent and intuitive CRM software not only escalates your businesses’ marketing, sales, and customer relationships, but it also keep your sales teams working efficiently, which in turn boosts revenue growth inevitably.

Reasons you require CRM software to manage data and boost sales

Are you still using pen and paper or a spreadsheet to track your customer’s sales history and not using an easy to use CRM software to manage your customers or track your sales data and business processes?

Do not worry! If your customer data management is still stuck in the Paleolithic or Old Stone Age, there is no better time than now for an upgrade.

With incredible CRM software platforms now available like ConvergeHub CRM for small business and others, your business can easily organize and integrate not only all your lead and customer data, but even your entire sales process (from managing leads and prospects to closing deals). In addition, CRM also provide comprehensive data analytics, and customer relationship management that are acceptable to your entire sales, marketing, and support teams.

This means, even if one sales rep in your company picks up where another sales person left off, they can find complete customer communication and interaction history, which in turn makes the customer feel important and valued.
With a small business CRM software platform like ConvergeHub, important information, and data is seamlessly updated across all networks, which allows every person in your organization to stay focused and up-to-date on what that matters the most- THE CUSTOMER.

Inputting your business data in the CRM database in an easy to use CRM software can even free up time spent on analyzing customer data for generating leads, sending follow-up emails, or setting up appointments for your sales teams. Since, these tedious tasks can kill time that takes away critical opportunities for harvesting revenue, away from your sales teams.

Easy to use CRM software when used efficiently acts as the heart of your organization and helps your sales teams to streamline data and sales processes. By managing and tracking all sales and customer-facing interactions, easy to use CRM software like ConvergeHub, provides everything that you need to close deals and keep your customers happy at your fingertips, which is the true driving force behind any successful business.

By organizing your customer data in the CRM database into helpful categories like Customers, Lost deals, Influencers, Potential partners, and many more, an easy to use CRM platform ensures that your sales reps never fail to meet the requirements of every person that contributes to the growth of your business.

Beyond this, CRM software also offers robust analytical tools that can help your organization to make strategic sales, and budget decisions, by viewing wins-losses, rep performances, and analyzing gaps in your sales processes.

Therefore, what does all this ultimately means?

The answer is- Happier customers, happy sales teams, and therefore, more sales and revenue.

THE TIME TO GET ORGANIZED- IS NOW!

According to a research conducted by a reputed global agency in 2017, it was shocking to find that an astounding 40% of businesses nationwide do not use any data management software and still rely on spreadsheets to mange leads and opportunities, before turning to more often than not cloud based CRM software platforms.

Therefore, by now we guess that must be saying to yourself: “I am in- but how do I get started?”

Well, actually it is all very simple.. So here we go!

STEP #1- SIGN UP

If your small and medium-sized business does not already have an easy to use small business CRM software, it is time to sign up now.

With all the options, that are on-hand these days, you might feel a bit inundated and overwhelmed, but with a little research, you can quickly find which robust small business CRM software, might work best for your business and your sales teams.

STEP# 2- INPUT YOUR DATA INTO YOUR CRM SOFTWARE

Primarily, once you begin, you need to be really careful about how you input your data in the CRM database, so that it matches your sales processes and help you to track your customers exactly as you would like it to do.

Luckily, most easy to use cloud based CRM software like ConvergeHub, comes with systematic, and explicit tutorials that will ensure that all your data is entered in the most appropriate ways, which can efficiently help you to drive your sales teams, and keep them organized.

All best sales CRM software solutions out there offers features to manage all your customer data in the CRM database, through the sales process, including:

  • Leads
  • Campaigns
  • Products
  • Pricing
  • Opportunities
  • Invoicing and Quotes

In all fairness, while even an easy to use CRM software is incredibly useful for businesses, nevertheless, it is not a perfect system.
Hence, inputting data in the CRM database, may initially have some pushback from your sales reps and make them feel that their time could have been more profitably spent making sales (and not inputting data), but in this case, remind your team that ensuring input of quality data in the software is vital for long-term success of any sales team.

STEP#3- OBSERVE YOUR BUSINESS GROW

Once your sales and customer data in the CRM database is organized and is used efficiently, you can expect to see a flourish in the growth of your sales revenue and hence your sales teams will finally find time to focus on their customers- which is the “numero uno” method for improving sales and profitability.

Remember, in today’s competitive marketplace, adopting an easy to use CRM software like ConvergeHub for growing sales and getting your customer data organized is no longer an option, but an absolute necessity for taking your business to the next level of success.

Is your business stuck with mediocre or no growth?

See how ConvergeHub can skyrocket your revenue growth in 2019 and beyond.

Just click here to schedule a 30-minute ROCKET LAUNCH Session to scale your business to next level.

Here is what ConvergeHub can do for your businesses:

    • Acquire leads through structured marketing campaigns

    • Build your own sales process to follow up and nurture leads

    • Drive sales with efficient sales automation

    • Turn your customers into raving fans through efficient customer support

    • Grow revenue through single click Quotes and Invoices

    • Get 360-degree customer view to provide highest customer satisfaction

    • Multichannel touch points in real time with all prospects and customers

    • Automate your workflow to increase team productivity

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Why You Just Cannot Make Up For Churn With Upsells

Optimizing the customers’ experience around your brand is a great way to find new customers, and the best way to foster customer loyalty. Nevertheless, still now, neglecting the customers before and after the sale is the biggest barrier in addressing this issue, which usually happens due to a lack of deep understanding of the customers. Therefore, it is important that you have the right systems in place, an easy to use CRM software like ConvergeHub, for a comprehensive understanding of your customers, which is required to achieve your business goals, be it trying to create more engaging contents, optimize your customers’ experience, or increase sales. CRM is a software that helps in leveraging both qualitative and quantitative data by collecting and storing customer-facing information in the CRM database, which helps you to better understand your customer’s mindsets that are needed in order to get you started.

Today we are going to unveil one of the greatest (and yet least spoken about) misconceptions around parameters like customer success- which illustrates why you cannot successfully offset customer churn with upsells.

ConvergeHub's ROCKET LAUNCH 2019 can help you acquire leads, automate your sales process, improve your conversion and get more referrals from satisfied customers. Click To Tweet

Here is the basic math:

Now, let us consider if your business loses $ X when one of the customers cancels their service that you offer, (or decides to remain but pays you less because of downsells or discounts), you need to replace that $ X before your business can start to grow.
There are two main ways you can offset churn revenue:
1. By acquiring new customers for your services
2. Making your existing customers pay more by expanding their relationship with your brand

However, as many businesses have found that the first suggested method (acquiring new customers) is often a losing or a difficult proposition for it creates a longer payback period for CAC (Customer Acquisition Cost), it is the second suggested method (making your existing customer buy more) solves your problem.

Right? No, it is not!

Since Customer Success thought leaders like Lincoln Murphy and other similar professionals that we have in Team- ConvergeHub Rocket Launch 2019, believes that using existing customer to offset churn does not work either, so here is their well-reasoned argument:

The expansion is part of the customer’s success

Upselling and cross-selling only happens because a customer is satisfied with your products and services. Therefore, account expansion is a part of a customer’s growth towards success. However, if churn is what that happens when a customer is resentful towards your services and offerings, then expansion is not achievable when the growth of the customer is unsuccessful.

As Lincoln Murphy clearly states:

You can’t use upsells to offset churn because churn is caused by the very thing that prevents upsells from happening.

Hence, if you anticipate your Customer Success to be just more than making customers happy- which implies you expect your Customer Success as a Growth Engine element through up-sell and cross-sell, you must at any cost have a baseline focus on your customer’s success plans.

Offsetting is NOT growth

According to our Team- ConvergeHub Rocket Launch 2019, a critical metric to track in your Customer Success strategy is your NNR (Net Revenue Retention), which is the revenue that stays at the end of a timeline, net of any up-sell and churn.
Therefore, if your NNR is lesser than 100%, it clearly states that your business is shrinking.
Nevertheless, the paradox is, an NNR of 100% also does not necessarily mean that your business is growing, as it only implies your business is stagnant and to quote Murphy:

If that status quo is due to expansion ‘offsetting’ revenue churn just to break even, that’s likely a really bad sign.

Hence, it is advisable that your business should always have an NNR that is greater than 100 percent, which only indicates that you are making more from revenue expansion than any churn.

Then again, although this might seem like an appreciable thing for your business, even then it is not, the reason is what is being explained below.

Math and reality are different

As we said earlier that you just cannot use up-sell to offset churn since churn is caused by everything that hinders up-sells from happening, which Murphy explains:

If you are acquiring customers without Success Potential and/or not doing what is necessary to ensure your customers that have Success Potential are unlocking such potential, then you are not creating the conditions necessary for expansion. You’ve created – by choice or by accident – an environment and experience that are not congruent with the customer’s success; so how can you realistically expect enough customers to buy more or invite you into other parts of their company to offset the damage that’s being done by the customers you’ve failed?

While we can find exceptions with invariable edge-cases of businesses that have managed to offset their customer churn with up-sells, but in most cases, the reality is, this is not going to work, as according to Lincoln Murphy:

You simply cannot achieve the revenue expansion necessary to offset revenue churn – in a scalable, repeatable way – when you’re not working to ensure your customers are successful since expansion is PART of the customer’s success.

Therefore, the action that you need to take is what follows below.

Focus on avoiding churn

While it may seem to be a reasonable argument that churn need not be present, several businesses have even accepted the fact that customer churn is a reality, which is how they have developed plans (like up-selling) to offset that churn.
Nevertheless, Murphy advises getting back to the core of the problem and working out ways to reduce and eliminate it, as he states:

When you don’t have churn, you don’t have to offset the lost revenue; all of your expansion revenue just adds to the top line and improves your margins. It’s true that it costs less to get revenue from existing customers than from net new customers, but this only works if you create the conditions for Customer Success. And ultimately, this focus on the customer’s success directly increases the value of your company.

Customer Success Tips Around The Web

Skills to help you truly know your customers

Optimizing the customers’ experience around your brand is a great way to find new customers, and the best way to foster customer loyalty.
Nevertheless, still now, neglecting the customers before and after the sale is the biggest barrier in addressing this issue, which usually happens due to a lack of deep understanding of the customers.
Therefore, it is important that you have the right systems in place, an easy to use CRM software like ConvergeHub, for a comprehensive understanding of your customers, which is required to achieve your business goals, be it trying to create more engaging contents, optimize your customers’ experience, or increase sales.
CRM is a software that helps in leveraging both qualitative and quantitative data by collecting and storing customer-facing information in the CRM database , which helps you to better understand your customer’s mindsets that are needed in order to get you started.

Avoid Customer Success being stuck in a vacuum

Your customer success team can never succeed if it is stuck in a vacuum. Therefore, to add a strong relationship with key stakeholders, and customers, and to dish-out your immediate wins here are certain elements you must ponder for the success of your organization:

Ideas for quick wins:

  • Do you have a company-wide meeting?
    -Let your Customer Success Manager present great customer conversations, both positive and negative, that they have had and the learning that resulted from such discussions.
  • Do you have a company-wide newsletter?
    -Let your Customer Success Manager write up a customer spotlight piece or a summary of the feedback they have received.
  • Do you have sales meetings?
    -Let your Customer Success Manager be an active participant in the meetings with your Sales Teams.
    (Our CSM at ConvergeHub attends once a week and we have found it to be very beneficial).

 Word to the Wise

Are you a business leader poised to take your company to the next level and reduce churn, and looking for a software platform that can help you do that?

If so, ConvergeHub is for you!

Hence, sign up for a FREE 30-minute Rocket Launch session with us, and take the first step towards creating massive growth for your company in 2019.

During the Rocket Launch session, Team- ConvergeHub Rocket Launch 2019 will do a deep dive into your business along with you, and brainstorm how ConvergeHub can help you acquire leads, automate your sales process, improve your conversion, reduce churn, and get more referrals from satisfied customers.

So why wait- Sign up now! Limited slots are still available. What do you have to lose?

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