How to Use Your CRM to Create More Sales Opportunities
Your Customer Relationship Management (CRM) system tells a crucial story about your home service business: who’s interested in your services, and how they came to learn of them. When used correctly, this CRM data can be a powerful tool for generating more sales opportunities, but many businesses don’t fully utilize it!
This can result in…
- Lower lead retention through the sales funnel
- An inability for companies to accurately assess the lifetime value of their leads
To help you prevent these missed revenue opportunities, we’ve compiled a handful of strategies to help you take full advantage of your contact data. Here are three ways to use your CRM to generate more sales!
1. Identify Rehash Leads for Future Outreach Campaigns
Expecting every contact to convert into a sale is unrealistic—there will always be unanticipated complications, whether it’s a prospect’s preference for a specific name-brand, a sudden financial obligation, or just bad timing. Recording these unconverted contact interactions allows you to see where opportunity still lies!
Instead of letting these contacts disappear down a black hole, they can be categorized as rehash leads and retouched through future promotional campaigns. They may not be ready to convert in this moment, but if they are targeted later with a YouTube ad or a direct mail send, their interest in your business could be rekindled.
2. Practice Proper Contact Attribution
Some CRMs allow users to attribute a source to their contacts, which, when done properly, can give your business keen insight into how effective each marketing channel is. For example, when a lead comes in through Spectrum’s Sales Automation tool, you can automatically see what source that lead came from (TV, paid online ads, radio, etc.).
If you don’t have automatic attribution, contacts often get misattributed in two ways:
- Misunderstandings with the contact: Example—a representative might attribute a contact to TV promotional efforts because the contact off-handedly mentioned seeing the business’s commercials, even though they submitted their quote form through the website.
- Changes to skew marketing results: Example—a marketing manager wants to create favorable engagement numbers for a marketing channel that has, to that point, delivered lackluster results.
Not having automatic attribution ultimately does a disservice to your bottom line, since you risk investing money into ineffective promotional efforts. Spectrum’s Sales Automation Software simplifies the process for you by flowing contact and source info into your existing CRM, allowing you to make marketing decisions that will drive the most business.
Learn how to start tracking your own leads in our Lead Tracking Starter Guide (Download below!)
3. Grow New Contact Lists from Existing CRM Data
Consumer data used to just be a list of info with no purpose beyond selling. Now as technology advances, it has gained further value. From an existing contact list, you can take that data and find new leads that match the profiles of your existing customer set.
Imagine getting to clone your customers and target them directly! If you have an organized CRM with well-upkept info, you can use that info to find these new leads.
In particular, Google and Facebook allow you to create lookalike audiences to help your business connect with contacts outside of your CRM that share similar interests, buying tendencies, and demographic details as those already in your CRM. Creating these similar audiences is as simple as exporting your contact data, uploading it to your desired engine, and designating some preferences.
This strategy allows you to repurpose your existing contact data with relatively little effort. You can use these lookalike lists to gradually build your quality lead pool, even as you work with your existing contacts, ensuring that you only receive new business opportunities that reflect your company’s ideal consumer profiles.
Build New Business with Smart CRM Data Management
Your CRM tells a story, but you have the chance to expand the tale. Combining smart CRM data management practices with a little tech savvy can help you repurpose your existing contact data into new prospect outreach and sales opportunities. Download our guide below to start better managing your CRM data with lead tracking!