July 31 by Russell Banzon
Spoiler alert: It’s Speed and Connection. Time and time again we find that these are the keys to business progression in today’s world of the evolving customer and the constant innovation in technology. Companies must adjust and optimize their processes in order to gain speed and to keep happy customers. The utilization of technology is essential in achieving this – having processes that work in silos, data and information in separate places, and required manual effort, are not a recipe for success. Improving your business processes with the right technological solutions in order to cater to the end goal of your customer is an important aspect. It should be viewed as an opportunity to stabilize your business with processes that are able to adjust and re-optimize on the fly, and cloud computing is the perfect medium to do so. Two companies that have been able to do just that are Aesynt and GE Healthcare. The following are ways to achieve success by utilizing the factors of speed and connection, with thoughts and examples from Salesforce’s live webinar entitled Find Progress Through Process, which included Mary Beth Gargani, Director of Sales Operations at Aeysnt and Richard Grubb, Commercial Excellence IT Leader, at GE Healthcare:
Make it Easier for Customers to do Business with You
Making the customer engagement process easy allows customers to enjoy doing business with you, providing them a smoother buying process – something that Amazon has had tremendous success with. Richard Grubb mentions that speed within his solutions enables this ease to take place. Richard goes on to say that in the past, delivering a quote to a customer would take much more time than it needed. With a robust solution like CPQ, quote delivery time was decreased significantly and allows complex product configuration to be completed by sales reps to cater to specific customer needs.
Provide Personalized Experiences Across Multiple Channels
With consumers exposed to technology in a plethora of ways, buyers can now connect with you in multitudes of ways. Whether it’s through social media, your company website, online reviews, or pieces of thought leadership content, a potential customer has already interacted with your brand and has seen your product in some way, shape, or form. Research has already been done on their end as well, so they are well-informed on product details and may even have a clear idea of what they want. Mary Beth states that from a sales rep’s perspective, this provides an opportunity to influence the sale and drive engagement. She also mentions that “sales reps are now capable of guiding the conversation,” enabling them to filter out information and give the appropriate answers to the customer.
Drive Customer Loyalty and Build Lifetime Relationships
Gone are the days of completing a deal, sending the product to the customer, and going back to finding an attractive sales opportunity. Customers expect high quality service throughout their interaction with your company and it is critical to build lifetime relationships with them. Richard Grubb touched on instances how technology helps facilitate this – potential customers may want to fill their entire hospital with GE Healthcare products. Based on the data and information they have, they are able to provide accurate product bundles and different solution sets that can best fit their needs based on previous customer data and analysis.
Turn Process into a Competitive Advantage
With an in-depth understanding of your business processes, you will have a better perspective of where the weaknesses and pain points are, making it easier to see where optimization is needed. Mary Beth explains in the webinar, that redlining would take anywhere between two weeks to two months. She describes how she saw an opportunity within her business process where technology may be able to improve. In the contract negotiation process, she was finding that a lot of valuable time was being spent on redlining agreements and going back and forth with customers in order to reach an agreement. This is when she turned to technology as a solution – after she had a full understanding of the contract negotiation process and had a clear vision on what needed to improve. With the help of a contract management solution, they were able to shorten the contracting lifecycle to only five days, eliminate extra work for the legal team, and increase the customer engagement factor, ultimately resulting in getting the product to the customer faster than ever. – To help progression and growth, speed and connectivity need to be addressed – particularly in the today’s world where things are changing almost every day. Have a deep understanding of your business processes and keep in mind the necessary solutions that can help you achieve success. Posted by Russell Banzon on July 31, 2015.