Tag: CRM reporting

Top 6 buyer motives your sales team should be aware of

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When it comes to making the final purchase decision, everything boils down to the buyer motives. Why did the consumer decide to purchase the product or service? Why did he choose this over another? There is no general answer for these questions. Every consumer will have a different motivator, let’s drill down to the top motivators.

  1. Fitment

Need fulfillment is a very strong motivator for a purchase decision. It is very important that you make your customers aware of your product or service and the problems it is created to address so that the customer can clearly analyze if the products meets their needs.

  1. FOMO

Fear of missing out is not just limited to social media. There are a lot of people who just purchase a product as they don’t want to miss out. If you make your product highly desirable, customers will purchase this due to this motive. This is more applicable in B2C business and in fashion industry.

  1. General fear

Fear of injury, safety or financial concerns gives customers a sense of urgency to purchase a particular product. The product is marketed in such a way that if the customer does not buy it, he is likely to face some consequences, for example, if a customer does not purchase an alarm system, he is making his house more vulnerable to burglary and other crimes. This is a very effective tactic to play into customers’ fears.

  1. Excitement

Associating some kind of excitement with your product is also a good motive for purchase. For ex. a BOGO(Buy One Get One Offer) or discounts on second purchase. These type of offers make the customer excited to purchase the product. This can also help in building long-term relationship with the customer.

  1. Well Being

Now a days a lot of people are concerned about their and their family’s health and well being, specially at times where the whole world is in a health crisis. This is a good opportunity a lot of companies are milking. If a product can upgrade the well being of a customer, the customer is very likely to purchase the product.

  1. Luxury

A lot of people go by the rule of want and not of the need. Luxury is something which you want, not need. If you can afford it, you can get as much as you want. If you associate luxury with your product, you can easily motivate this class of people. Products like luxury cars, spas and saunas, resorts etc. run on this model.

How can a CRM database help

A good CRM software should provide this feature to collect all this information about each buyer which will allow your sales and marketing team to make better campaigns. The CRM should have sales and marketing automation capabilities so it is easier for your team work more in less time. CRM Runner is one such all-in-one CRM software which will help you keep all the information about your existing and potential customers by maintaining a detailed sales funnel with all stages from lead generation to conversion. You can create automated drip campaigns and measure the campaign effectiveness through detailed CRM reporting. Know more about us and sign up for a free trial!

CRM reporting : Top 5 reports to look for in any CRM software

Posted on by admin

How do you measure which campaign performed exceptionally and which campaign failed? How do you know which accounts are the most revenue generating? How do you find the most performing sales representative? The answer to all these questions is Reporting. CRM reporting helps you understand customer behavior, improve customer experience, project sales forecasts and improve internal processes.

Most of the CRM systems today offer a number of reports to help businesses improve their sales, service and marketing, however there are 5 reports which tops the chart.

  1. Pipeline Report or Sales Funnel Report

A sales funnel report will give you the details of all deals or opportunities in the sales pipeline such as the customer, the size of the deal, expected date of closing the deal, the team handling the opportunity, etc. It also gives an idea of which activities are already finished and which ones are scheduled for a future date. You should be able to sort this data based on the location, close date and team. This will also help in determining the future cash flow when the opportunities get converted into sales. This report helps the sales team determine on what they should spend their time and effort.

  1. Leads Report

The whole purpose of CRM is to generate leads and convert them into opportunities and ultimately into paying customers. The leads report will give you a picture of lead contact info, their interests, browsing behavior, from where the lead was generated and recent action taken. This will help you in understanding which campaign performed the best, which generated that lead and which campaign to use further to convert the lead.

  1. Open Cases Report

The smart thing for any business is not to run from the problems but to face them head on to solve it as soon as possible and make their product more competitive. This is where the open cases report is helpful. This report basically shows all the open tickets, tasks or bugs. It shows who is working on the issue, how much work has been done so far, what is pending and the estimated time to resolve the issue.

  1. Activity Report

Whether you want to help your sales reps or service reps manage their time or want to micromanage them and keep track of each and every step they take, activity report serves the purpose. With this report, you can keep track of each activity like appointments, calls, actions etc., activities done in the previous week and the ones scheduled for the next week for each sales rep. You can see the customer details, the type of activity and the estimated closure date.

  1. Lost Sales Report

This report might not be a pleasant one at which to look, however it is an important one to understand why the opportunity was lost and what can be done to avoid this in future. When you add an opportunity to your sales funnel, you must have a process to close the opportunity, whether it was converted or not. This report will be helpful at the end of the month to analyze which opportunities did not convert and what was the reason. If it was an internal reason, it gives you an opportunity to make the necessary changes in your process.

CRM Runner is an all in one CRM platform with a strong and detailed reporting system. You will get sales reports, marketing campaigns reports, activity reports all at a granular level. You can schedule reports to run at a set time. The reports are user friendly and interactive with a lot of filter and sort options. Fill our enquiry form or mail us at info@crmrunner.com to know all features of our platform.

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