The sales team in every organization amasses crucial information about the market they serve yet it is quite challenging to access sales information to make important PR, marketing and directional changes. The sales department knows product strengths and weaknesses yet it is a challenge to get this information in order to make the necessary course corrections and modifications needed to grow a business.
“Within 24 hours you forget 75% of what you were taught in sales training,” said Bill Vergantino, CEO, structured CRM company ItaQuod in a telephone interview. “They often can’t access documents which are on a network drive and not integrated into the CRM.”
“CRM has no awareness,” he exclaimed. “Scructured CRM combines traditional crm and embeds best-practice selling.”
He explained how currently, companies have marketing sit in on pipeline reviews in hopes of determining what customers are thinking. Or they ask sales reps why a deal was lost.
Bill said, “Sales reps don’t want to enter data. They think it takes too long. As a result, the manager and marketing can’t find it.” He continued, “Companies are not in control of sales, they have to hunt down sales team to find what is going on.”
He further explained that reps aren’t compensated on data entry or data quality which frustrates managers.
ItaQuod has a unique solution to the sales management issue – areas such as data entry and competitive intelligence which guides workers to work according to pipeline management and selling best practices.
With proper information, managers can finally forecast more accurately, knowing what opportunities are real and how far along they are.
The solution is comprehensive – the demo blew us away in fact.
The idea here is to maximize sales and analysis with proper data. You can think of working with other CRM solutions as missing out on potential sales and market research.
By color coding contact records, sales reps and managers can quickly see how far along the record is in terms of being filled out adequately. In addition, reps can speak the data – which minimizes the need to access the keyboard.
Sales management and marketing has access to this information and can note on a record, what they wish was there.
Bill said, “Data is gospel and the CRM must be aware of data structure or it can’t enable seamless entry, consumption and collaboration. He continued, “After 25 years we need to reinvent CRM. You can’t direct analytics against bad data or you have bad results.
The solution comes with a template and three one-hour onboarding training sessions. Conversion from another CRM can be done in as little as three weeks – but this obviously varies.
We asked Bill why customers choose ItaQuod as opposed to add-ons which could potentially bring similar functionality to a legacy CRM solution. He mentioned that there is increased cost and complexity to using such an approach.
The cost for ItaQuod with all these features is about 20% less than basic Microsoft Dynamics or Salesforce.
There is a whole lot more to this solution but the idea is CRM solutions of today needs a tremendous amount of management to maximize efficiency. By building in sales best practices and allowing for collaboration between stakeholders in an organization, sales can flourish and analytics becomes far more effective.