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How To Boost Rate Of Income Through Customer Relationship Management Tools

Aug 17, 2007
Whatever Customer Relationship Management solution you opt for, remember that its implementation needs to be quick, well planned, and relevant to the target customers in order to be effective. Below is a list of ways to increase your rate of income or ROI through these tools.

1. Inbound Marketing
Inbound Customer Marketing, or ICM, is one of the most effective ways of boosting ROI. The latest development in ICM involves rewarding customers when they call to know about the products and services of the company.

2. Proportionate Spending
If you are spending more than 70 percent of the projected profits on software and consulting, then you should look again at the spending patterns. Most vendors overprice their services. Therefore, you need to keep the 70 percent ceiling in mind before reaching a final agreement with the vendor.

3. Vendor
Choose a vendor as quickly as you can. You should not take long to decide on your requirements in selecting a vendor.

4. Training
Training your employees on CRM should not take more than a few hours.

5. Implementation
Do not waste time trying to make the system perfect. By the time you have every part of the system in place, it will be outdated. Just start working on the areas of CRM that you think are crucial.

6. Plan
Have a plan in place. How long do you think the CRM implementation will take? Try to stick to the deadline that you have set for your business. Otherwise, the system runs the risk of becoming outdated.

7. Customization
Every CRM application will need some amount of customization to yield optimal benefits to your business. This does not mean that you should spend days on customization. Calculate the amount of time you need on customization so that you can start with the implementation as soon as possible.

8. Relevance
The CRM plan should be relevant to your business needs in order to boost ROI. See if the CRM program complies with the following criteria: breadth, repeatability, cost, knowledge and collaboration.

9. Relevance of Data
No CRM program, no matter how sophisticated, is of much use if the data it provides is not relevant. You should be able to use the inputs of the sales staff, customers, and agents in a constructive manner in order to boost ROI.

10. Maintenance
If you have a small business, you should not need more than one dedicated staff member for maintaining the program.

The guidelines above should help you jack up your ROI through some effective CRM tools. Only well-organized and effective use of the CRM tools will give you the results you are looking for. If you are a small business owner who needs to learn more about CRM tools, you can approach a small business consultant, who will help you with the installation and implementation of the CRM program.
About the Author
David Gass is President of Business Credit Services, Inc. His company publishes a free weekly e-newsletter on Small Business Consulting at their web site http://www.smallbusinessconsulting.com.
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