Speeding Sales Cycle | DnB for Sugar
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Poor data quality drains a company on average $8.2M annually. Learn how DnB for Sugar can increase the quality of your CRM data, speed up the sales cycle, and make a difference in your sales success.
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Speeding Sales Cycle | DnB for Sugar
- 1. Speeding the Sales Cycle With D&B for Sugar How the Quality of Your CRM Data Can Make A Difference In Your Sales Success
- 2. D&B for Sugar Speeding the Sales Cycle With D&B for Sugar Murray Kieffer Director, Strategic Alliances Dun & Bradstreet Martin Schneider Head of Evangelism SugarCRM
- 3. Agenda How’s the Quality of Your CRM Data? The Sales Professional’s Data Challenge The Solution Using CRM Data to your competitive advantage Speeding the Sales Cycle With D&B for Sugar
- 4. How’s the Quality of Your CRM Data? Speeding the Sales Cycle With D&B for Sugar “Poor data quality drains a company on average $8.2M annually in squandered resources and expenses for operational inefficiencies, missed sales and unrealized new opportunities.” Gartner
- 5. Sales & Marketing professionals can get lost in a sea of data. Speeding the Sales Cycle With D&B for Sugar Every hour enough information is consumed to fill 7 million DVDs 90% of the world’s data was created in the last 2 years 75% of digital information comes from individual 2.7 billion “likes” are posted on Facebook daily & 30 billion pieces of content 250 billion emails are sent everyday More data crosses the internet every second than the amount that was stored on the net 20 years ago Data is growing by a minimum of 50% per year Big Data
- 6. And your CRM’s corporate data is changing rapidly… Speeding the Sales Cycle With D&B for Sugar Business Addresses Telephone Numbers Company Names New Business Formed Businesses Closed Change in CEO Leadership 120 Changes in 30 minutes 75 Changes in 30 minutes 15 Changes in 30 minutes 30 Changes in 30 minutes 10 Changes in 30 minutes 20 Changes in 30 minutes 499,200 changes in a year 312,000 changes in a year 62,400 changes in a year 124,800 changes in a year 41,600 changes in a year 83,200 changes in a year Source: D&B and the Sales Research Institute
- 7. This leaves Sales & Marketing professionals asking the same questions: Speeding the Sales Cycle With D&B for Sugar How do I target the right customers? How do we exceed customer expectations? How do I create unlimited growth? How do I build a strong pipeline?
- 8. These questions are reflected in various industry reports. Speeding the Sales Cycle With D&B for Sugar More than 70% of sales teams say they need integrated customer insight in their CRM to meet their sales objectives. Source: Forrester Research A telling 63% of B2B marketers say they’re unsure if their marketing mix is effective. Source: Crain’s B2B Magazine 54% of marketers report that managing and integrating data from a variety of sources is the biggest obstacle to making smarter use of customer analytics. Source: Forrester 2012 Global Customer Analytics Online Survey
- 9. Sam, Sales Challenges – Spends too much time researching and not enough time engaging – Enters data manually as he finds it – Sells blind – needs context – Needs to reach the right contacts in target company. Speeding the Sales Cycle With D&B for Sugar
- 10. Sam, Sales Solution – Look up company and industry information from within Sugar – Auto-populate data into appropriate fields – View and select contacts to approach – View related companies for cross-sell potential Speeding the Sales Cycle With D&B for Sugar
- 11. Sam, Sales Results – Higher productivity (less time researching, more time selling) – Deeper insight and talking points with company and industry news and information – Faster sales from higher effectiveness and better targeting Speeding the Sales Cycle With D&B for Sugar
- 12. Thank You! Martin Schneider mschneider@sugarcrm.com @mschneider718 Murray Kieffer kiefferm@dnb.com @murraykieffer Speeding the Sales Cycle With D&B for Sugar
- 13. Be sure to go to www.dnb.com/partner/sugar to see a demo. 13Speeding the Sales Cycle With D&B for Sugar
Editor's Notes
- The secret to saving your company millions of dollars per year: Improve the quality of your CRM Data CRM Secrets Sales Revealed Sales: Save Your Company Millions Per Year with CRM Save Your Company Millions: Improve the Quality of Your CRM Data How Your CRM Can Save Your CRM Millions of Dollars Per Year Speeding the Sales Cycle With D&B for Sugar: How the quality of your CRM data can make a huge difference in your sales success
- Today we’re going to talk about the quality of business content in your CRM. Most CRM users know that the quality of information in their CRM is pretty bad, but they just live with it because they’re not aware of an easy way to fix the problem. They buy lists to feed their CRMs, but Sales folks quickly learn that the data is of poor quality when they start calling or sending emails, and the Marketing folks especially see how quickly those lists age because their campaign metrics quickly start showing declining delivery and response metrics.
- So we’re going to talk about these four things: Ask you to think about the business information you have in your CRM today, and how it could be better. Discuss the sales person’s data challenge specifically Have a look at the solution for this problem And finally, look at how Sales folks can use the data in their CRM to their competitive advantage
- Most CRM users recognize that much of the information in their CRM is out-of-date, incorrect, and incomplete. They may be comforted to know that they’re not the only ones experiencing this problem! Gartner says that “Poor data quality drains a company on average $8.2M annually in squandered resources and expenses for operational inefficiencies, missed sales and unrealized new opportunities.” We’re going to focus in on the missed sales detail in this statement.
- There is no lack of business data in the business world. In fact, Sales and Marketing folks are drowning in it. See how much of it there is, and how quickly it changes.
- We took a snapshot of our own global database of more than 200 million records a couple of years ago (by the way, we now have data on more than 230 million entities now) and captured these rates of change. As you can see, a huge number of business addresses, telephone numbers, and even changes in CEO leadership change every year. These changes present big challenges to busy Sales and Marketing people who have targets to meet and need all the help they can get.
- And here are the questions Sales and Marketing people are always asking: How do I target the right customers? How do I build a strong pipeline? How do I create unlimited growth? How do we exceed customer expectations? The fact is, these folks need good data to achieve these things.
- Here are some industry reports that highlight the challenges of Sales and Marketing professionals.
- Let’s take a look at Sam, the sales superstar Sam is frustrated because he finds himself spending too much time searching for information about industries and companies that might be good users of his company’s product. He does lots of online searches, then enters the results into his CRM manually. He hates the task, but finds this is sometimes the only way to get the info he needs. Once he has information in his CRM, he still feels as though he’s selling blind because he could use more complete info about the company’s financial situation and the industry overall. Plus, he needs basic contact info, like name, phone number and email address of the person he wants to call.
- If Sam had access to all of this information: Company background and description, industry information, And if he could just push a button and enter the info into his CRM And if he could find the name, email address and phone number of a target, He’d have what he needs to sell more effectively. Icing on the cake is a view of related companies so that he can expand to other companies within a family of companies.
- Once he has this info, he’ll see some great results: Because he’s spending less time research and more time selling, he’s reaching his target faster and working more effectively He has confidence when he engages contacts at his target company because he understands the company’s challenges and how his product can help Overall, he is more effective and able to close more deals