The death of CRM
Posted on 16/07/2012
Since the 1990's contact management systems or CRM (customer relationship management) have become essential tools in sales and marketing. The ability to identify prospects, create direct marketing lists and have sales people update their sales activity has become essential to almost every business.
Desktop databases could be built in Microsoft Access, or companies used dedicated CRM such as ACT or Goldmine. With the introduction of high-speed broadband, CRM went online with systems such as Salesforce.
Yet all contact management systems no matter how sophisticated are inherently flawed, and this costs companies millions of pounds in lost revenue every year.
The problem is customer and prospect information changes. People leave, email addresses change, companies move premises, change direction or close down altogether. Thousands of changes can occur every month, so you end up marketing to the wrong people or targeting the wrong companies with your product, wasting time and even damaging your reputation.
Having acces to the latest, up-to-date prospect data has become essential and many suppliers of business prospect data have introduced online systems that allow users to access data 24/7. Some systems even offer basic CRM functions.
However, just because a system is online does not mean that the data is current. Many data suppliers refresh their online data systems every 6 or 12 months which means your sales and marketing team are still using old, outdated information.
So is CRM really dead?
In 2010 Insight Data introduced a revolution in CRM and prospect data. The concept was 'live CRM' whereby clients could use a contact management system that was updated live in real-time behind the scenes, so clients were always using up-to-the-minute live data.
In 2010 Insight introduced the technology to the window, door and conservatory industry with detailed information on over 14,000 fabricators and installers. Salestracker combined multi-user online prospect software with data updated in real-time by Insight's market research team.
Salestracker enabled companies to instantly create direct mail, email and telesales lists with highly targeted information including products, supplier infomation and even volume. Meanwhile, salespeople could access the system via any web-enabled device when they're on the road. As Insight updated or added a new record at 9am, Salestracker users could be contacting them by 9-05am.
Live CRM offers a major advantage over existing online prospect databases. Real-time data means marketing activity produces better results and sales people can target prospects and close deals before competitors even know about it.
Behind Salestracker there is a sophisticated eco-system that includes the industry's largest market research team and external feeds from credit reference and other data sources - so we'll know about change of directors or other businesses information even before our research team call. All this data is fed directly into Salestracker in real-time and while your competitors are trying to contact the previous decision maker, you can be talking to the right person.
Live CRM from Insight Data is transforming the way companies manage their sales and marketing activity and this is now expanding into other sectors. Originally fabricators and installers, Salestracker now includes IGU manufacturers, roofline installers, architects, local builders, and construction companies.
