smallbizdream blog

What Sales Experts Do to Keep Their Sales Pipeline Up and Running

Businesses have been constantly evolving for the last twenty years and are starting to adopt a different approach to lead conversion. Unlike traditional outbound marketing, ‘soft sales approach’ involve several stages in the customer’s journey which lead to a sale or repeat business.

This process can be seen in a company’s sales pipeline. Sales pipeline can be viewed in different ways but the basic idea is the same: “How do I get my leads from point A to point B, and what does it take to get them there?”

Stages in a Sales Pipeline

Companies differ as to the exact number of stages in a sales pipeline. However, most companies will agree that six to seven stages hits the sweet spot. We’ll go through each stage and see how experts lead their prospects from one point to another.

Stage 1 — Generate High Quality Leads

Sales and marketing experts would often use the social media, invite people to a social event, or use an effective content marketing strategy to get as many potential customers as possible. Making the sale at this point is the least of their concerns. It’s more about getting people interested in what they have to offer.

Stage 2 — Educate Leads about the Benefits

What’s in it for them? Leads should be able to see clearly how a company or a specific product can help solve their ‘pain points’ through opt-in subscription to weekly posts or monthly newsletters. Email automation and autoresponders can help accomplish the task via drip emails.

Stage 3 — Get Feedback from Viewers and Subscribers

Being able to collect information from opt-in viewers and subscribers allows businesses to refocus their strategies and be able to address individual needs. Some CRM applications like Small Business Dream enable business owners to collect information from online subscribers and viewers using a survey engine, similar to Google Surveys offered in Google Analytics Solutions.

Stage 4 — Qualify Prospects

This stage will assess the possibility of converting leads to business opportunities, by weighing certain factors such as viewing activity (click and open rate), specific interests, occupation, income, and so on. The result will determine whether they would eventually turn into opportunities or if they needed more time in the previous stages (Stage 2 and 3).

Stage 5 — Assign Lead Scores

Each qualified prospect receives a lead score which indicates his level of interest. Investing more time and money on a qualified lead is considered profitable since the likelihood of conversion is very high. Those who received higher scores are given more priority while those at the lower end can be cycled back to Stage 2 or 3.

Stage 6 — Close the Deal

This stage provides the end-result of all the marketing efforts to win a potential customer. Some of the best-known practices at this stage include upselling and cross-selling. Others will include a ‘post-sale’ where customers are encouraged to patronize their product through follow-ups and having them sign up for loyalty or point cards.

Maintaining a Healthy Sales Pipeline

Maintaining a steady flow of leads, opportunities, and sales is critical in any business. If at any stage the sales pipeline gets bogged down and fail to meet their goals, the company could take a hit and seriously affect their bottom line. Some ways to keep the sales pipeline up and running include:

Checking the conversion rates by stage
Making constant improvements on every stage
Closely monitoring the sales cycle
Holding regular sales pipeline meetings

Running a business shouldn’t be too overwhelming with today’s modern CRM that can store, analyze, and keep businesses attuned to the customers’ needs.

At Small Business Dream, we give you the most up-to-date CRM software to keep track of your customers and provide you with the right information to stay in business.

Even the Government Uses CRM – Here’s Why

When we think of Customer Relationship Management, we normally associate the phrase with big corporations and business institutions.

For quite some time, CRM has been used successfully to attract and maintain good relationships with customers by improving customer service and maintaining constant interaction with them.

It is also a cost-effective way of increasing revenue through targeted leads and emphasizing customer loyalty as opposed to traditional marketing strategies that use expensive ads and gimmicks to get customer attention.

One of the hallmarks of CRM is its ability to respond immediately to customer’s needs and requests — something which most government agencies are incapable of.

Even today, the majority of the public sector still relies on antiquated methods of data storage and data analysis to do their job. Compare this to businesses in the private sector that employ CRM and you will notice just how fast they are able to respond and adapt to their customer’s needs.

Public Service and Customer Service – the BIG Difference

When you go to a hair salon or restaurant with good customer service, their employees make it a point to treat you like their boss and make you feel important, respected, and cared for.

When doing business with a publicly owned institution, you might be able to see the difference because in most cases you are treated way better in commercial establishments than those in the public sector.

The difference between the public and private sector is the way they treat their clients. Most public institutions look at their people as subjects who don’t have much of a choice other than to make use of what is made available for them, and to “pay taxes to whom taxes are due.”

Businesses, on the other hand, stand to lose money. If they don’t have enough customers to keep the ball rolling, they are at risk of losing their business. For the government, it’s probably more than just losing money; they stand to lose the very people who makes them.

How CRM Will Benefit the Government

In this day and age, we don’t need clunky machines and outdated systems to handle large amount of data. We don’t have to settle for painfully slow and overly bureaucratic way of planning, decision-making, and implementation.

Here’s how CRM will allow the public sector to function in the most efficient way possible:

Greatly enhance e-Government implementation — People who have been working in the government knew just how important it is to organize and systematize their tasks to meet their deadlines and avoid getting swamped with pending jobs and unfinished paper work; hence the adoption of the so-called e-Government. This modern approach to governance helps eliminate time-consuming tasks, thereby increasing efficiency and cutting down on operational costs.
Collaborate with other agencies more efficiently — Most government agencies struggle to make their jobs faster because of the very nature of how the system works which involves collaborative planning, decision-making, and execution. Functions within the departments, bureaus, and agencies are also interdependent on each other. CRM can be used as a tool to coordinate these tasks and provide a seamless experience to their constituents.
Be more responsive to people’s needs — Some countries are looking into the possibility of incorporating CRM when responding to inquiries and complaints. Others have already been working with software companies to provide them with CRM applications suitable for public use. Before, they used to have suggestion boxes in conspicuous places. Software companies offer a better solution by providing a CRM app that links every citizen to the public sector and respond to their needs the same way a privately-owned business enterprise handles every customer.
Pro-active approach to problem solving — Most of the time, the public sector could only respond to current situations but not so much in preventing them from happening in the future by taking a proactive approach. With CRM, governments can accurately measure how well or how bad their strategy was so they can plan out well and be able to anticipate any problem that may arise.

To learn more on how you can apply CRM to your small business or any business endeavor, feel free to visit Small Business Dream and we’ll help you out and work things to better improve your customer service and increase your sales.

Know What Your Customer Wants and When They Want It

When a customer comes in to buy certain goods or use a particular service, smart companies keep track of the customer’s buying habits to guide them with decision-making and predicting customer orders and purchases.

From the standpoint of a buying customer, he may notice something different from time to time, like why a certain brand is strangely low in numbers and why other brands are taking up the space that was left out.

A lot of businesses use predictive analysis to know what customers would likely buy in the future based on the current trends, i.e. what most customers are actually buying and how frequent.

However, it’s not as simple as overstocking your shelves with merchandise just because they are frequently sold. It requires careful analysis and taking every possibility into consideration.

The Role of Customer Relationship Management in Business

Customer Relationship Management tools (CRM) came in response to the rapidly-growing business industries. Back then, we only had spreadsheets and repositories to store and analyze data.

Nowadays, we have integrated, collaborative software tailored specifically for businesses. These applications are capable of handling incredible amounts of data and performing complex calculations to provide business owners with real-time analysis of their sales and marketing strategy.

Companies like KFC and McDonalds have been employing CRM tools for quite some time . Even the government uses CRM in some ways because it provides a more realistic and practical way to address the needs of its citizens.

Using CRM to Predict the Future

Making predictions is not as simple as it sounds. We need to factor in specific details like who usually bought them, specific time of the year, how much, how often, and the list goes on.

So how do smart companies make their projections based on customer data?

Analyzing customer data

Each time a customer checks out with his loyalty card, customer data goes right into the data centers or servers for processing. Without the proper tools to analyze and interpret these data, they’re nothing more than just a useless pile of customer information. CRM transforms these data into a usable format business owners could easily understand.

Loyalty and point cards are so popular with businesses nowadays. Your wallet is probably stuffed with them. If you have a loyalty card for your grocery store then the chain store is tracking every purchase you make and putting it into their CRM.

Narrowing down potential customers and repeat customers

Some of your prospects can become your regular buyers and loyal customers over time. Such information about your customer can serve as your basis when making your projections about sales.

If a brand of soap gets sold more frequently to a certain group of customers, your CRM can provide some answers and help you understand why this trend will continue on or if it’s just a short-term success.

Maintaining contact with the customers

CRM keeps track of your customers’ buying habits, interests, preferences, lifestyle, and other relevant information about them. Some even have features that remind users to follow-up with customers in a timely manner such as Small Business Dream’s Action List.

One of the best ways to maintain good relationship with your customers is to show how much you value them . Thanking them through Facebook, Twitter, email or SMS for making your company a part of their experience can go a long way.

Understanding past and current trends

Hindsight is said to have a 20/20 vision. CRM goes further by allowing you to ‘see’ the future. Telecom industries provide a classic example of how changing trends can make or break a company.

During the heyday of telecom companies like Nokia, mobile phones are regarded mainly as communication devices. Nokia had too much focus on their product line, all the while ignoring the competition and what the customers want for their mobile phones at that time.

By the time they realized it, they were on the verge of losing the market. They were too late. The once mighty telecom giant crumbled under its own weight and disappeared from the scene. The moral of the story? Don’t ignore the trends. Keep your eyes open and find out what is it that you’re missing out on.

Customer relationship management allows businesses to cut through the noise and “see the forest for the trees.” Learn how CRM applications like Small Business Dream can make a difference for your small business.

To find out more about Small Business Dream visit our website at www.smallbizdream.com

5 Ways To Better Connect With Your Customers

It is easier and more convenient than ever to connect with your customers in order to grow your loyal customer database. But with so many tools and resources, it can also get complicated and overwhelming to make those personal connections with your customers.

Social media is a way to connect with your customers if done correctly—creating interesting contents that your customers want to share—but spamming your connections with your product updates, urging them to buy your products, is the quickest way to lose them.

To be able to help you make those better and loyal connections, here are five simple and effective ways to better connect with your customers, while growing your brand and business at the same time.

1) Know Your Customers

The first thing that you need to do to establish a better connection with your customers is to know them on a personal level. This allows you to identify the following information:

demographics (age, location, gender, hobbies and interests)
personal wants and needs
occupation
income

With these details available, you can strategize your marketing approach and ways to promote your products and services. This can also help you decide whether you need to modify the products you provide as well as the services you offer to your customers.

Google Analytics is one of the best tools to collect data from your customer. Information from Google can help you start a targeted customer database. You can discover what kind of customers you have and what they need from you. These details can also help you with identifying their online habits which can assist you with knowing the proper time to begin marketing your products and promoting them.

Facebook also has some great analytics tools to get to know your customers. If you look at the insights, you can find out all types of information about your audience – down to their interests and hobbies – and you can better connect with them.

Other social media platforms like Twitter and Pinterest have analytics tools, but none of them have caught up to Facebook in terms of usefulness or ability to capture as much customer data as possible.

Aside from these tools, you can also do market research by doing a survey and listening to their feedback in your comment section, and from review sites and online forums. Learn who your customers are by doing an analysis of your collected customer data and segment them accordingly to be able to personalize the connection.

2) Engage on Social Media

With the growth of social media, it is one of the better ways to have a connection with your customers online. Social media have become the essential online tool for customers to search for products and services they need. Tools like Facebook, Twitter, Instagram, and other available resources are avenues for people to engage and for brands to grow their business.

Facebook can be used to build brand awareness and personally connect with customers. You can create a Facebook Page where you can post videos and images explaining your products and inform them the benefits they will get if they avail them from you. You can also check customer complaints and deal with them personally.

Try running competitions on social media where your customers can get a chance to win free services. These can be fun and help you win a ton of extra true fans as well.

Twitter, on the other hand, is a way for customers to post their feedback. Hear what they think personally about your products and engage with them by answering their queries directly. You can also keep your followers up-to-date by sharing news immediately. Twitter can also help you track what your competitors are up to.

If your customers are on Twitter and they post about your company then you better respond – whether it’s good or bad comment!

A great place to market your brand with a simple visual element is Instagram. With currently more than 300 million daily users, Instagram is quickly climbing up the social media hierarchy of best sites to connect with customers. With a simple yet rich media content, it can engage more users with a strategic use of search keywords through using hashtags and also with a good skill on photography. There are several tips on how to have eye catching images to boost your online presence and your social media posts.

3) Start Live Business Events

You shouldn’t just focus all your efforts online. Face-to-face engagements are still very important and can help connect your business to your customers. Register to business expos where you display your products and market them to existing and potential customers. Get to see their response and feedback while they sample your products or test them through demonstrations and exhibits.

If you have a physical store, invite your loyal customers to your launching parties. You can also get to know your leads and engage with them to build partnership. These customers, while they have the chance to visit your store, will share their experience on social media or will spread their thoughts by word of mouth — the cheapest and most effective way of marketing.

Of course, for a live business event, you need to plan first. Choose a venue with good atmosphere and filled with interesting activities. Don’t forget to let your customers get involved. Learn from them first hand, see their reactions personally, and talk to your customers to leave a good impression about your products and your brand.

4) Keep Them Updated

Send them emails, newsletters, or push notifications on their mobile devices for announcements on new product launching, promotions or a new published post on your blog. Keeping your customers in the loop is the easiest way to reach them whether on social media or on traditional media like newspapers and magazines.

Update your social media channels through a tool like Small Business Dreams and send out a newsletter. With the Small Business Dreams app, you can send automated and semi-automated messages to let your customers and leads know what’s going on in your industry or other news. The app prompts you when it’s time to reach out to a customer so you never have to remember and risk forgetting.

You can also utilize social media advertisement services like Facebook Ads to promote the updates on your brand and your products. Never miss to encourage your customers to also share your updates to family members and friends who can possibly be potential customers.

Keeping your customers updated lets them know more about business and how you can bring them values into their lives.

5) Provide Good Customer Service

There is no better way to keep your customers coming back to buy your products and avail your services than to have a good customer service experience. Customer service is a necessity to an emerging customer-based industry. This means attending customer on a timely manner on your social media channels, forum sites and emails whether they have questions, inquiries, or concerns.

Giving your customers a superior customer service is one of the ways to engage and to build a better connection with them. This is also ideal when trying to convince potential customers to get your products and tell other people about how they affected their lives. According to a survey, customers have bailed on a transaction or not made an intended purchase due to bad customer service. Potential customers also check Net Promoters Scores (NPS) to see if a brand and the products and services they provide will make a difference to what they need.

Building the trust with your customers, no matter how strong your social media channels, how huge your customer database or how engaged you are with them on events will be affected by the experience they are getting from you through your customer service. You need to plan out the section of your business to be able to attract new customers and let existing customers stay with you for the better of your brand and your business.

Connect with customers better and reach out to new prospects by visiting our website at www.smallbizdream.com.

How To Beat the Competition Using Social Media

Social media is still one of the most misunderstood marketing tools for small businesses. If you’re not using it, you’re missing out on a valuable opportunity to drive customers to your website and ultimately make a purchase.

According to a recent LinkedIn study, a whopping 81% of businesses use social media to drive growth while an additional 9 % intend to use social media in the future. If your online presence isn’t up to par, you may have missed out or you may have though that social media is already too crowded. In fact, it is still a vital way for businesses to reach their customers if done correctly.

Unfortunately most businesses don’t understand how to use it to connect with their customers and drive the results they want. Consumers now are more savvy than ever before and do their research before reaching a purchase decision. And that includes searching businesses’ social media presence.

In today’s competitive world, small businesses need to have a solid online presence in order to succeed. A lot of people are hesitant to do business with a company that doesn’t have a solid online presence. If they don’t see a strong following on any of the channels, they might look for somebody else with more social proof.

Customers are also more likely to speak out their grievances online which is why it is crucial for businesses to respond to customer inquiries and reviews. But you shouldn’t just be reactive online. Social media is a very inexpensive way to reach the same amount of people as doing a national advertisement campaign on television. Make use of creative social media content to grab people’s attention.

The age of your customers will also determine the way you communicate with them online. Millennials are more skeptical than older ones and typically want to know their business owners.

Part of the problem with social media is that small businesses have a hard time keeping track of their return of investment. It can be especially difficult to track organic social media if a small business is on a budget. Usually, it is the first thing to go.

However for those who invest consistently in social media, most people agree that there’s a payoff within the first two years and a significant payoff in five years. A small caveat here: it’s important that you don’t try competing with the big companies, especially online. They have people — sometimes entire departments — dedicated entirely to social media and their online presence.

You have to think how you can carve your own space out online. Perhaps it’s coming up with a unique and exciting campaign or maybe dominating a local area.

For the last couple of years, people have been focusing on paid advertising instead of organic content. Paid social media has enormous upside and is cost effective compared to other forms of advertising. But here’s the thing: no amount of paid social media is going to turn a dull, uninteresting content into a good one. And for the most part it isn’t sustainable for small businesses on a tight budget.

However organic content is still incredibly powerful and when used correctly, it can be incredibly effective. Organic content is the long-game plan of your brand. For example, if you use hashtags properly, you can easily be discovered over time. Whether you run a local restaurant or coffee shop, if you keep using relevant hashtags then you’ll be a part of the conversation which is the first step to getting sales.

If you run a small business you want to focus your time, money and effort on creating lots of great content. The amount of money you spend on social media depends on your industry and marketing goals. The biggest thing some businesses don’t understand is that quality content is so important when marketing to anyone under the age of 40.

Anyone could discover your business for the first time through Google search or though social media. If you’re not focused on quality content that you put out in social networking sites, you’ll become irrelevant. Organic reach is so important because the impressions you get when someone comes directly to your page is that they are more qualified leads and potentially valuable customers.

There are plenty of platforms out there for you to choose from to help you grow your audience in Facebook, LinkedIn, Instagram to Twitter. Choose which one is right for you and your business. While the supply and demand for paid advertisement becomes more competitive and saturated there is a greater opening for brands to make headway organically.