Business

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23 May: Accounting Firms: A Third of Your Clients Are Considering a Firm Switch, take 4 Steps to Keep Them

At any given moment, about a third of accounting firm clients are considering switching firms, according to a recent survey by the Aberdeen Group. A whitepaper that was just published by Wolters Kluwer, Focus on the Client: Developing a Client-Centered Firm, points out that your firm’s clients will less likely be among the third that are looking to move if you know how to strengthen existing client relationships while forging new ones. Here’s an overview of how they advise achieving this: Make room for more profitable clients. Unresponsive clients – those who are less likely to respond to requests for…

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11 May: 6 Reasons Your CRM Data is Always Outdated and What You Can Do About It

Do you know that business development professionals, on average, spend 5.5 hours per week updating their CRM’s database? That adds up to more than seven weeks a year devoted to data entry. Unfortunately, your biz dev team isn’t compensated for their data-entry efficiency. Furthermore, the time they spend entering data is time taken away from closing deals. What’s especially frustrating about this statistic is that even if they are ultra-diligent about keeping the CRM current, 30 to 70% of what they’ve already entered is already inaccurate, especially if they’re selling to high-turnover industries, according to Informatica. Consider these additional statistics…

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09 May: The Physics of CRM Adoption: CRM Thought Leader Reveals How It Quickly Increased Revenue by 20%

What do CRM adoption and physics have in common? Danny Estrada, Founder of E Squared, a CRM strategy and management consulting firm, would say it’s the principle of inelastic collision: In essence, when balls , which are bouncing in a vacuum, collide they’ll share their energy. The more energy that’s produced, the more energy that’s shared. “For CRM to be effective, everyone must be working at the same level, cadence, pace and direction, they must expend the same amount of energy, just like in inelastic collision. Of course, I never thought I would use the concepts of physics in relation…

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03 May: Experts Reveal What You Need to Know Before You Dump Your CRM

It’s challenging when you’ve invested thousands, even millions of dollars, and countless hours implementing a CRM system, but it’s not producing a return on that investment of time and money. Years later, your business development professionals aren’t embracing it like they should be. At that point, the value proposition of newer, slicker system can be very alluring. But before you succumb to the high price of temptation, you might want to clarify, beyond a shadow of a doubt, the source of your CRM problem: Is it the CRM or your relationship with it? Consider a survey we just conducted of…

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25 Apr: Is Your CRM System Leaking or Eating Revenue? Look for 6 Red Flags

Unless you’re a nonprofit, you’re in business to make money. But, too often, CRMs are undermining that goal. While they were put into place to drive revenue, they sometimes do just the opposite by hindering productivity, performance, and even morale. Meanwhile, the opportunities they were meant to capture slip away. Don’t let this happen to you. Make sure your CRM is doing what it’s supposed to. Watch for these red flags: Your business development team views your CRM only as a performance-monitoring tool. They only log into it to enter data to please the higher-ups. They rarely use it to…

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24 Apr: Brent Leary Shares How CRM Evolution is Blazing Industry Trails

Hundreds of professionals who want to stay on top of the latest innovations to engage their customers will be descending upon Washington, D.C., to attend CRM Evolution, April 24 – 27. Among them will be Brent Leary, Partner, CRM Essentials. Brent will be leading panels and presenting throughout the conference. This includes a discussion about artificial intelligence (AI) with executives from SalesForce, SAP, Microsoft, Oracle and Lithium Technologies and a presentation on how virtual companions, like Amazon Echo, will change customer engagement forever. “Attendees will be hearing a lot about AI and deep learning and how that is taking over the heart…

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17 Apr: 3 Important Questions to Ask to Make Sure Your CRM is Earning Its Keep

In today’s competitive marketplace, having a database of customer names, contact information, and purchase history isn’t enough. Sure, you may be able to sleep easier knowing your CRM collects the information you need to support and monitor client relationships, but is this enough to ensure your CRM is earning its keep? Are you certain, beyond a shadow of a doubt, that your client-facing professionals are using your CRM to advance client relationships? Ask yourself: 1. Could there be gaps and errors in my CRM data?  That’s likely if your client-facing professionals are required to manually update the CRM with information…

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03 Apr: Introhive Establishes European Headquarters in London’s Financial District

Introhive now has an international presence with a brand new office in London’s Financial District. It is being led by Faisal Abbasi, who was most recently a sales leader for Microsoft where he helped major financial institutions use CRM to transform how they do business. It was at Microsoft where he was introduced to Introhive. “I could see within five minutes that this was going to change the way CRM operated today and what it should be doing in the future,” he recalls. “The way we position things, the way we sell things, how we come across, how we talk…

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27 Mar: 4 Introhive Benefits that Help Fenwick & West Clear Major CRM Hurdles

In the race to win more business, many law firms have embraced CRM. But for too many, the investment isn’t advancing them fast enough. Consider a study by the Legal Marketing Association and Bloomberg Law. They surveyed 172 business development and marketing professionals, and more than 100 partners. While 96% said they had or desired CRM, only 48% of marketers and 61% of business development professionals report using it. Cost, complexity, lack of effective integration and proper training were the most common reasons cited for not being able to use CRMs to their potential. Therefore, the study states that the…

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24 Mar: British Law Firm BizDev Pro Reveals the Secret to Making a CRM Drive Business

If you’re frustrated with your CRM and are certain there’s a better solution out there, you’re right and you’re wrong, says Susanne Pugsley, Founder of Pugsley Sidwell Business Development, a business development consultancy for the professional services sector. “It’s really a matter of checking to see  whether it’s a problem with the CRM, or a problem with the information that’s held within it, and the processes used to access and update that information,” she explains. “I think that there are plenty of CRMs on the market that could work perfectly well, but they’ve been populated and maintained badly.” CRM as…