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What is Stock-Aware CRM? (Part 2: Sales Teams)

By Jessica Heald on Tue 04 June 2019 in CRM

Hopefully, you’ve managed to have a quick read of Part 1 first…if not, here it is!

So now that we’ve established the type of business you operate, let us briefly tell you why your Sales teams need a different type of CRM to meet their unique requirements.

Let's take a couple of the key roles or hats in a Sales team and contrast the "traditional CRM needs" in a non-B2B business with a wholesale, distribution or manufacturing business like yours. These tables take 3 key roles (or hats):

1. Sales Manager
2. New Business Sales (getting new sales accounts)
3. Account Manager (or area sales, or whatever you call this role, but essentially farming the base you have)
 
In Products-R-Us we have a Sales Manager. We also have someone who targets new business development and then someone who manages 30 existing key accounts. Contrasting with them, we have a business that doesn't sell physical products with the same 3 roles.

SALES MANAGER Products-R-Us (your business!) Do not sell products from stock
Record usual CRM interactions e.g. calls, emails, documents etc.
See which customers spend is increasing and know if the Account Management team aware of this (and are subsequently maximising that increase in business).
Get the full picture of exactly what's happening with customers in a consolidated view.
See which customers are spending less or have stopped buying/using your business and know if Account Managers know why to see if the situation can be rectified.
Know if stock they hold is in danger of becoming obsolete/which items they’re in danger of being overstocked on to ensure they apply special pricing and promotions to keep the stock moving.
Have access to accurate stock forecasting for various warehouses which hold stock.
Easily and quickly identify which products are selling well, which aren’t, analysing geographically and looking for seasonality to ensure Sales teams are aware of these metrics and maximise opportunities as a result.
Be able to restrict certain products by customer e.g. qualified to sell, authorised to sell or bespoke branded products to retain central control of products and sales.
Have the opportunity to sell from a larger catalogue of products (perhaps from suppliers) than own stock file with no disruption and ease of process for the Sales teams.
Make sure that delivery charges are calculated automatically based on order content and customer details to turn delivery charges from loss making into profit making and to avoid human-error in the sales process.
Hold regular review meetings for each potential project and discuss with Sales teams what the decision-making process is and who the decision-making group is to plot next advances in the sale.
Be aware of critical time points in each long sales cycle to ensure tenders are submitted on time with correct supporting documentation, for example.
Take a view on pricing and negotiation for each project and determine specific terms & conditions.
Analyse customer purchasing terms for red flags i.e. penalty clauses.
NEW BUSINESS SALES Products-R-Us (your business!) Do not sell products from stock
Record usual CRM interactions e.g. calls, emails, documents etc.
Keep track of all Sales opportunities using pipelines and easily progress opportunity/lead through pipeline to update its status.
Build and send accurate product quotes quickly, without manually checking any prices.
Ability to create multiple versions of quotes.
Quickly and easily take orders (in office/out in the field) and push through to back-office system without need for any re-keying.
Know what stock is available today, next week/month etc. to sell the right things at the right time to the right customers.
Be able to increase average order values with CRM’s upsell, cross-sell & must-sell capabilities.
Sell products the way their customers want to buy them e.g. multiple pack sizes (single, small box, large box or pallet).
The opportunity to quote during a sale is quite often governed through a tender process.
Be able to create quotes outside of CRM e.g. in Word, as each quote is different and needs to describe the specific type of service they’ll deliver.
Quotes are more of a descriptive document (i.e. little or no tables).
Typically require an Excel tool to know how much to charge depending on what resources are required for the project in hand.
Have consultations with clients, consultants and professional bodies, and receive briefs from clients about their specific requirements.
Non-product sales often experience a much longer sales cycle, anything from 6-36 months.
Have access to project management and design tools to build a scope of the project.
ACCOUNT MANAGERS Products-R-Us (your business!) Do not sell products from stock
Record usual CRM interactions e.g. calls, emails, documents etc.
Keep track of all Sales opportunities using pipelines and easily progress opportunity/lead through pipeline to update its status.
Know which customer's spend is increasing and maximise this increase in business.
Know which customers are spending less or have stopped buying completely so they can rectify the situation if possible.
Set reminders for e.g. 6 months’ time to see if there are opportunities to secure repeat business
See customer's sales history & back orders.
Sell products the way their customers want to buy them e.g. multiple pack sizes (single, small box, large box or pallet).
Have access to customer sales transaction history to easily increase recurring business levels.
Be able to increase average order values with CRM’s upsell, cross-sell & must-sell capabilities.
Visit key customers on-site regularly/periodically.
Quote may not match ultimate invoice.
Be able to create quotes outside of CRM e.g. in Word, as each quote is different and needs to describe the specific type of service they’ll deliver.
Ensure customers sign up for a recurring revenue contract for ongoing work.
Typically require an Excel tool to know how much to charge depending on what resources are required for the project in hand.
Have access to project management and design tools to build a scope of the project.

As you can see, the table above shows that although both businesses have the same need for “traditional CRM”, the Sales team at Products-R-Us have a whole host of additional data and process needs in order for them to do their job properly that only Stock-Aware CRM can deliver on. 

Interested in having a demo of Prospect, the Stock-Aware CRM? Book in a call with our team today. Alternatively, why not watch our Webinar about Stock-Aware CRM here

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