Rex

Create a system of record for sales interactions. A key feature of a CM solution is the ability to keep detailed notes on conversations with prospects. This functionality is also included in CRM solutions, thereby allowing sales representatives to keep an accurate system of record for all sales interactions. By keeping these records, sales representatives can access information regarding a prospect's wants and needs months after the initial call and use this information in subsequent follow-up conversations. Fifty percent of CRM users indicated that improving sales representatives' knowledge of products and customer needs is a top strategic action. A system of record for sales interactions allows representatives to log first-hand information regarding a prospect's or customer's needs as they articulate them.

Rex

Create a common language for internal customer-related communications. The purpose of formalized sales processes, for example, is to ensure that all sales representatives follow the same process during a sales cycle. To ensure that these processes are not interrupted or delayed, companies must create a common language for internal customer-related communications. Typically, sales and marketing professionals use the same phrases in different contexts. For example, a "qualified lead" may mean one thing to a rep and something entirely different to a marketing professional. By standardizing the internal language used to describe customer-related communications, companies can present a unified front to their customers. Thirty-eight percent of CRM users also leverage internal wikis to create a dynamic glossary of company-specific terms. The benefit of collected information extends beyond its intended purpose; 51 percent of CRM users also use such wikis to on-board new sales hires.

Rex

Create a learning, knowledge-based, sales culture. The culture of an organization is not something that is easily altered. Changing the culture of an organization requires the commitment of senior management and willingness of employees. Further complicating the issue is the fact that, traditionally, sales representatives are reluctant to change. One of the benefits of a CRM solution is the opportunity to integrate information from various third-party information sources. By integrating key account or industry news directly into the daily workflow of sales representatives, companies begin to change the "selling mindset" of an organization and create a knowledge-based sales culture. Currently, 68 percent of CRM users have a sales training and employee education program in place, compared to 54 percent of CM users. Companies must be sure to provide an outlet for sales representatives to document best practices or frequently asked questions and then leverage this information in training exercises. In addition to their usefulness in on-boarding and training, these forums become a repository for sales representatives hoping to improve their personal performance by heeding the advice of their peers.