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ECT News Community   »   CRM Buyer Talkback   »   Re: Hidden in Plain Sight: 3 CRM Analytics Pearls

Re: Hidden in Plain Sight: 3 CRM Analytics Pearls
Posted by: Christopher J. Bucholtz 2013-11-11 03:59:31
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CRM technology is all about collecting data -- which means it should go hand-in-hand with the trend toward increased use of analytics. Often, though, what is analyzed is not what's important. In CRM, many of the most compelling data are hiding in plain sight, but businesses are looking elsewhere. These hidden metrics can be accessed without expensive analytics tools in most cases, but they're overlooked. It's as if a fishing boat captain's nets haul in a record harvest -- but then he keeps it stowed in the hold of his boat.

Re: Hidden in Plain Sight: 3 CRM Analytics Pearls
Posted by: Maximizer CRM 2013-11-11 04:01:04 In reply to: Christopher J. Bucholtz
Hi Christopher, thank you for a great article and a good point well made. Many of us in Sales and Marketing (and I include myself) are so busy looking for the next piece of business we tend to forget about the business we have lost and looking at the reasons for the loss.

Recently at Maximizer we have begun to measure what we refer to micro-conversions including capturing the reason we have lost deals. We were shocked to find 90% of lost opportunities could be filtered into one of five categories and none are the assumed ‘competitor’ bin, they included; financial, political, functionality, project cancelled, don’t see the value. Armed this this information we created a series of emails related to each specific ‘reason’. These emails are not automated and sent shortly after an opportunity is abandoned within our CRM. Each email offers targeted content, if the prospect responds, we then push them into a further lead nurturing programme, which is all tracked, so when they become sales ready, we can re-approach with a stronger message and tailored presentation.
By measuring our micro-conversions we have ‘won’ 15% of leads which would have originally been abandoned, with very little additional effort.
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How will the pandemic influence your holiday shopping habits this year?
I will shop online exclusively, for my own safety and to help limit the spread of the coronavirus.
I will do some shopping online, and some in-person because I want to support merchants in my area.
I will shop online definitely, and I will consider local retailers -- but only if they provide curbside service.
I will only shop in-person because the risks associated with e-commerce outweigh my chance of catching COVID-19.
I will not do any holiday shopping this year due to circumstances related to the pandemic.