Telemarketing Software Featured Article

Can Telemarketing Software Improve the Value of Your CRM?

July 22, 2015
By Susan J. Campbell - Telemarketing Software Contributing Editor

How well is your company making investments? It may seem like a question for the CFO, but the reality is, any expenditure is an investment in something specific. For instance, you may have telemarketing software in place, but is it used to its full potential so you’re getting the most bang for your buck?

The same question can be asked about any software put in place to help you achieve a specific goal. Is it selected according to the needs of your department, the capabilities offered and the promised return on investment? If you’re not asking these questions about your customer relationship management (CRM) solution, you could be missing out on the benefits.

ZS recently conducted a study to determine how effectively companies are using their CRM programs. The software can offer companies the opportunity to better engage with customers, drive improved business performance and increase sales. But are you able to get all of the value promised from your implementation? Findings from ZS research suggest the value received from CRM investments can be greatly increased, and business functions across the organization will improve as a result.

Survey results found that some respondents report high to extremely high value in opportunity management at 42 percent; customer information look-up at 39 percent and sales forecasting at 35 percent. Fewer respondents see high value in areas where CRM should be delivering an impact, such as customer communication at 13 percent, internal coordination at 13 percent and proposals at seven percent.

"CEOs write big checks for CRM technologies, but sales leaders cannot demonstrate return on the investment," said ZS Principal Ron Siahpoosh, in a press release. "The impact of great CRM is the ability to understand current and prospective customers and address needs and preferences better than competitors. But most companies use CRM only for tracking purposes and it becomes just another tool for reporting to management. Sales teams aren't leveraging valuable data to gain customer insights."

Data accuracy appears to be a big issue for respondents as only 42 percent rated their solution as high in terms of sales results, while 24 were impressed with opportunities and only 19 percent felt prospect profiles in terms of value derived. As a result of these shortcomings, the majority of respondents, or 72 percent, reported that their salespeople do not spend enough time on their CRM platform.

The answer to this challenge could be in your telemarketing software. When applied correctly, it integrates the insights needed from your CRM and applies them to the individuals with whom you are connecting so the right information is shared with the prospect at the right time to close the sale. After all, what’s the point of getting the prospect on the phone if you can’t close the business?