Is it just a contact database or is CRM (customer relationship management) software really about being efficient in your entire sales process – from prospecting to upsell?

“With the cost of selling to a new customer being five times the cost of selling to an existing one you can’t afford to lose established business.’ [CSM]

The secret to selling is about promise and delivery. So Follow-Up is key. A CRM system helps to keep the sales process flowing (If Used!).  When implementing CRM systems, you need to ask:

1. How will our customers benefit from this new program?
2. What will be our return on this significant technology investment?
3. Do I have commitment from all levels of the company?

[thanks even carmicheal]

I took a lunch and learn with Clint Babcock of Sandler Institute yesterday.  Here are some pearls of wisdom:

As a salesperson, what is your Money Concept?

Are you following a sales process?

1. Building Rapport
2. Upfront Agreement (giving them permission to say No)
3. Find the Pain
4. Budget
5. Decision
6. Fulfillment

When more than one bid: “Why do you think I am more than the others?”

No unilateral concessions. Make the buyer give some too IF he is the decision maker.  If not, get in front of all of them. Will the buyer be able to handle all the Q’s that the real decision makers are going to ask?

When a sales stalls (2-4 weeks of no contact) – ask if you can close the file. Are they still decising or have they chosen to go another way? I’m just asking so I can close the file.

Hot Potato from Buyer – throw it back at them.  “Mr. Buyer, what are You going to do?”

The take-away close still works.