What are the must have fields for CRM reporting?
This is a continuation in our series looking at reporting in CRM software. As a start “Line of Business” is always useful to know what segment of your client base comes from and what industry. This is useful for not just knowing which target group is most responsive to your value proposition but also which generates the most turnover. If you have that linked with the accounting package and analyse by project you can determine which types of business are most profitable. The information gleaned from this field will help determine future marketing efforts and provide realistic expectations with regard to their outcome.
CRM reporting where did that lead come from?
Second is source of the lead. How did you first connect with this customer? Was it through trade show, conference of exhibition? Next will be what did you sell them. If your CRM system does not link to quotes or accounting then maybe a field, or a note which delineates the type of product required. If your system does link, then you can analyse down to individual product or service and cross reference that with which sector, to get instant insight into current demand for each income stream. If these fields relate to accounts, then you can run P&L reports by sector or source which guides future marketing efforts in terms of return on investment.
Other fields as required?
Additional fields can be added later, such as campaigns, regional offices or other sector specific categories. You can add sector specific fields which relate to your industry. We have already looked at those for hospitality industry. Other clients I have worked with include the health industries where they track sales and income by whether its from NHS or private then by region then down to hospital. For the construction industry they look for relationships. They would get a lead from a site supervisor, who knows the builder who ultimately will refer work to the architect. All of these different relationships need to be managed and maintained in order to get access to the final decision maker. Larger tenders require co-ordination across a stream of partners to win the contract. This requires lateral communication to make sure everyone is on the same page at the same time. There is an endless plethora of possibilities that CRM software can manage but a clear understanding of the desired outcome is required. Otherwise the software can be implemented in a way that become too convoluted for the task at hand.
About the Author:
Malcolm Ford has implemented sales strategy for CRM software across a variety of sectors around the UK. This includes gaining a deep understanding of the business requirements and applying the best solution for increasing turnover and maintaining client contact. See our services page for more information.