Sales reps only spend one third of their time selling and only 1 in 3 actually makes their quota. Improving sales productivity is critical to achieving revenue goals.
Welcome to the ActivePrime Blog
In our blog, you’ll find helpful and informative posts dedicated to improving CRM performance and usability. Our topics include deep dives on the technical aspects of CRMs like searching and data quality. You’ll also find insightful posts about user productivity and adoption.
The leading cause? Poor data quality.
Poor data quality costs the average organization 12% of their revenue.
The strengths of account based marketing have made it widely popular within marketing and sales teams across organizations of all types. The cornerstone of this strategy is clean, reliable data on your organization’s accounts and prospects because the sales and marketing teams need to have confidence and trust in the data they are using to communicate with these key resources. Does your team trust your data? Does your CRM system support account based marketing? The primary concept of account based marketing is identifying and communicating with key accounts and targeted prospects that match the ideal customer profile for a particular organization. Several years ago, sales methodologies used customer profiling as a foundation to drive sales. With today’s tools and lists we too should be able to target our best prospects and sell them our products to drive more sales and profits.
When it comes to healthcare, one size does not fit all. Health providers faced with increasing competition and higher customer expectations need to reassess their customers’ needs and provide them with superior quality of experience. In a fragmented market, churn over any given year is inevitable, leaving customers with dismal satisfaction levels and health providers with humbled growth. A 2015 study on the Pioneer ACO program found a churn rate of 38% among patients over a year, with income-based churn even higher.
The 2017 Open Enrollment Period is quickly approaching, and showing no signs of slowing down. Healthcare organizations are anticipating member rates to increase upwards of 60 percent this year alone. The forecast also suggests over 90 percent of the US population will be covered with healthcare insurance in the next few years. To cope with this shift, many healthcare organizations are busy understanding and implementing CRM systems to address their compliance issues, and to develop new customers.
START WITH ASSET CLASSIFICATION
Not all CRM data falls under HIPAA guidelines. The purpose of asset classification is to ensure a clear policy is in place for classifying data. Classifications are not defined by HIPAA, they are company specific. For instance, an organization may decide to classify CRM data into public data, private data, critical data, and protected data. In this definition protected data would be actual data requiring protection under HIPAA. Each CRM system data asset within an organization would be classified by the security team and typically assigned an owner. The owner is an individual responsible for ensuring the private data is appropriately protected.
On the third day at Dreamforce, App Cloud EVP Adam Seligman and Marketing Cloud CPO and SVP Bryan Wade delivered powerful keynotes on new Salesforce intelligence products and how they enable companies to create smart, one to one customer journeys. The full sessions can be watched here (IT) and here (Marketing).
SALESFORCE FOR IT KEYNOTE 'BUILD SMART EXPERIENCES PEOPLE LOVE'
The proliferation of new technologies, devices, and platforms urges companies to actively tackle insights from these new channels and better meet customer needs. For many organizations, this entails more time and cost-effective IT operations.
Salesforce President and COO Keith Block kicked off the second day at Dreamforce 2016 with a keynote on the financial services industry. The session discusses two of the company’s recent products - Einstein and Financial Services Cloud - and showcases successful customer stories from Farmers Insurance and Bank of America. The complete session can be viewed here.