What will a CRM do for me?

One of the primary goals of a CRM (Customer Relationship Management) system should be Increasing Revenue. This is accomplished by leveraging many aspects of the system, the most important of which are: Communication, Collaboration, Follow-up, Reporting, and Forecasting.  I was recently asked what we should expect from our corporate CRM (Deltek Vision) and I thought that you might find the list helpful as well.

A Good CRM should:

  • Be the corporate Client Database
  • Measure Business Development outreach efforts
  • Remind you to follow-up in a couple of days, weeks, or years
  • Become a central repository for notes and information on a given client or lead
  • Manage qualified leads and keeping them from falling off the radar
  • Manage and track outstanding fee proposals, including forecasting revenue
  • Manage and track outstanding Statements of Qualifications, including forecasting revenue
  • Track customer interactions
  • Identify Business Development Tasks that need to happen
  • Identify if those Business Development tasks are actually happening
  • Notify Client Managers about interactions everyone else the company is having with their client
  • Provide feedback on projected revenues and actual revenues
  • Report projected revenues by group/division/ company
  • Increase collaboration between groups and divisions through information sharing
  • Flag Client Managers and management when revenue is declining for a given client
  • Provide a historic record of project files prior to the award of a project
  • Identify money pits (people we’ve been pursuing for years to no avail)
  • Be a central repository of information on winning firms (ex: Architects that are winning Higher Ed, Local Gov, K12, work that we can team with to pursue future work)
  • Report on Business Development activities: “That which is measured is improved”
  • Manage conferences – costs, exhibiting, attending – and relate it back to specific employees
  • Track and measure Master Contracts (term contacts) to ensure they are being leveraged fully
  • Answer the question: What happens to someone’s contacts when they leave?
  • Provide historic Information on pursuits, lunches, relationships, and more

A Great CRM should:

  • Integrate with existing project and client data, allowing for cross reporting related to current revenues and past revenues and how these relate to future revenues
  • Identify “Stuck Opportunities”
  • Report on the effectiveness of the Business Development staff
  • Identify who and what efforts result in new work
  • Integrate with a Client Retention Program (ex: survey feedback loop to measure success)
  • Become a measurable part of the employee review process

 

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3 Responses to “What will a CRM do for me?”


  1. 1 Rick Whittington January 4, 2014 at 2:03 pm

    Agree, Tim. A CRM is vital to “closing the loop” in your marketing. A CRM will indicate which marketing channels and activities are driving sales, so you can examine B2B transactions and see what contributed to the sale. From there, you can decide which activities were worth the time/spend and even get specific ROI from marketing activities.

  2. 2 Tim Klabunde January 4, 2014 at 10:16 pm

    Well put Rick, thanks for your thoughts!

  3. 3 Jon Bornstein January 16, 2014 at 11:36 am

    Hi Tim. Good stuff! Can I repost and link to this on the Deltek Vision blog (www.deltekvisionblog.wordpress.com)?


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