Tackling the Elusive Return on Investment (ROI) of Your CRM
So what’s your ROI? How much value is your CRM delivering?
It seems like they should be easy questions to answer, right?
One way to approach it would be from a productivity standpoint. Calculate time saved, multiply the hours, and the rates…simple. Let’s take off early today!
However, there’s more to consider when making this calculation, and it all revolves around the end result of a happy customer.
What does your staff do with those extra hours?
And more importantly…how does your CRM help you get more out of those saved hours?
Let’s take a look at our industry and dig in a little. I look at this business as having 3 branches:
None of them can operate without each other.
Here are some examples of how Contractors Cloud helps get the most out of those saved minutes and hours:
The extra time the salespeople gain from having their leads organized, building quick templated estimates, email templates for follow-ups and calendars to know when their jobs are scheduled can be used to sell MORE jobs.
This sounds simple and should be the main focus. However, it’s the accountability aspect of management that will actually drive this concept. If no one is looking, the more extra time a salesperson has, the more they will slack off.
Now there needs to be a balance between being held accountable, but not being micromanaged. But if you don’t have a system in place to monitor activity, you don’t have the tool to even think about trying to find that balance.
Teach your sales staff how to do more with their extra time, how to improve your customers’ experience with your company, how to improve referral rates, that is where you will see your return.
The workflow will keep the staff on track and help prevent anything from falling through the cracks:
- Customer updates
- Staff communication
- Job notes/changes,
- Automatic notifications between departments, just to name a few.
One mistake can cost you thousands ie: wrong color, no return phone call, missing an appointment.
Having an organizational tool for the admin staff helps with efficiency, this helps everyone stay on point, thus resulting in happy customers.
The extra time the production staff saves from templated orders, organized whiteboard, email templates and communication can be used to focus on job management.
This saved time can easily be used to monitor job expenses more closely, that’s the easy one to point out. But how about helping enhance the overall customer experience?
The better a job is managed between the crew, foremen, production managers, and sales rep, the happier the customer is going to be with the finished product. Teach your production staff the importance and the impact that they can make regarding your customers’ experience. Use their saved time to implement these ideas.
Whether it’s increased communication with the customer or simple updates of their project with pictures. This type of communication is easily done and will help result in Happy Customers.
I believe all of these ideas are implied and considered when one is looking at ROI in the simple aspect of hours saved. However, I think it is more important to discuss and outline how your CRM is going to help you get the most out of your saved time. For more on software, check out our ultimate CRM software buying guide here.
Just having a CRM isn’t going to automatically increase your profit. We do know that Contractors Cloud can be the tool that will help you produce more happy customers and therefore produce a return far beyond the Investment. The exact end result is up to you.