This is Part 1 of a two-part series of blogs on the most common reasons CRM does not deliver the ROI industrial distributors, reps and manufacturers are looking for.
Customer Relationship Management, or CRM, is a system for sharing and leveraging your team’s data and knowledge. It’s about process, and technology helps to automate that. But as is frequently reported, many companies find they don’t get what they want out of a CRM system. I’ve seen this in my one-to-one work with industrial distributors, reps and manufacturers, and I have heard this from many of the professionals I’ve spoken with at industry events.
Here are five reasons many companies struggle with CRM:
- High expectations – When companies believe all they need to do is install some software, and all their sales woes will disappear, they usually run into trouble. A CRM initiative is not a silver bullet. It will take a lot of work to reap the rewards you are seeking. Put a plan in place and execute it, and don’t forget to include training.
- Bad data – I find that data is one of the biggest obstacles to a successful CRM implementation. It takes time, energy and sometimes money to ensure that the data that already exists across your systems is clean and in synch. If you’re not confident in the data, don’t rush to bring it into the new system or you’ll continue to run into more challenges.
- The wrong CRM vendor – Just as the project does not end upon implementation of new software, your relationship with your vendor also does not end. Make sure your CRM vendor understands your industry and is committed to doing more than install software and run.
- No internal champion – Without buy-in from key respected team members, you won’t win buy-in from the rest of your team. This could doom the project.
- Doing too much too soon – Start slow and grow. If you do too much too soon – or make too many customizations from the get-go – you risk confusing and overwhelming your team.
This blog post is based on SalesProcess360’s latest whitepaper, 10 Reasons CRM Fails (and How You Can Succeed). Download it today to learn more about how to succeed despite these challenges, and feel free to share with your team!