Welcome back to another episode of the CRM Success Secrets Podcast! In today's episode, we will delve into the topic of determining the ideal timing for investing in a CRM. As part of our ongoing series on the 5 W's of CRM, we have already covered the definition of a CRM, its target audience, and sources for finding one. Now, it's time to explore the crucial aspect of when to implement a CRM in your business. We will discuss the different stages in which a CRM becomes indispensable, starting from the early phases of establishing relationships and crafting your messaging, all the way to a stage of having a repeatable process and being prepared for automation and scalability. Stay tuned as we examine the telltale signs that indicate the right time to invest in an all-in-one CRM solution and how it can significantly enhance your efficiency and effectiveness. Get ready for a productivity boost with a unique perspective!
Key Takeaways:
- When to invest in a CRM.
- Benefits of an all-in-one CRM.
- Segmentation of contacts and messaging.
- Considering an all-in-one CRM vs. multiple tools.
- Importance of investing in a CRM for new businesses.
Quotes
"When you've sold the same package and program and found your rhythm, that's when you should invest in a CRM."– Mary Sue Dahill
Featured in this Episode
Mary Sue Dahill
https://www.linkedin.com/in/marysuedahill
Chapters
00:00 - Introduction
01:37 - The Initial CRM Decision: Do New Businesses Need It?
03:40 - The Power of CRM: Collecting, Managing, Automating, and Tracking Business Activity
07:50 - The Importance of a Segmented Client List and Essential Tools
09:34 - Transitioning from Multiple Tools to an All-in-One Solution
10:17 - Saving Money and Time: How CRM Automates Tedious Tasks
11:01 - Indicators for CRM: Moving Beyond Post-Its and Seeking Support
14:22 - Outro
Produced by http://www.heartcastmedia.com
Mary Sue Dahill:
It's the CRM success secrets podcast about productivity with a twist. Hi there. My name is Mary Sue Dahill, your host. This podcast is for business coaches and consultants tired of working nights and weekends. They are looking for strategies and proven tactics to streamline their business using a CRM and automation. Let's get to it. We are talking about my favorite subject, CRM. Hi, my name is Mary Sue Dahill. I am the host of CRM Success Secrets. And this Series of episodes is about the 5 w's of CRM. Because when I tell coaches and consultants what I do, which is I sell and support, all in 1 CRM system, they'll look at me quizzically and ask all of these questions. What is really a CRM? I've heard about it, but I don't know what it means. Who is a CRM for? And what does it do? So there's lots of questions I get, so I thought I would just answer them all in this series. So we've already talked about in prior episodes what a CRM is, who should be using a CRM and where can you find a CRM? In this episode, we're talking about when you should invest in a CRM. And I'm gonna talk about it from, you know, the development of your business.
So a new business, a brand new baby business doesn't really need a CRM unless it helps the business owner organize their contacts. A new business that hasn't yet really formalized their ideal client, They maybe haven't formalized their messaging. They haven't really started selling their services or offers yet, so they're just still formulating what those things are, they probably don't need a CRM. They need to be focused on just building relationships and learning, and kinda developing their messaging and their offers. But once you get past that new business phase, it's time to consider it. Oh, and I wanna just step back to a new business. You should always be building your list. So no matter from day 1, you should be starting a list of your contacts and, you know, asking people if they would be interested in receiving Newsletters from you in the future so that you have this opted in list. So definitely be doing that from day 1. So once your business has moved into a stage where you are getting business, you are selling things that are similar pretty much every time you're not making it up with each client. That's when it's time to consider investing in a CRM. So that means most coaches and consultants really need a CRM. Because once you've sold the same program or package a few times and you have clarity on your ideal client, it is now time to get a CRM. Because at this point, you are growing your mailing list. You're able to also segment your list into prospects, clients, referral partners, and centers of influence. And that's what a CRM is really great at. And also you need to be keeping notes on your relationships, probably collecting information about your prospects and clients so that you can better serve them, and all of those things are what a CRM does really well.
So you have to have a repeatable way of also onboarding clients and streamlining your lead gen at this point. Because those 2 systems, for you are working, and now you wanna automate those systems so that they're repeatable And reliable, and that they're delighting, you know, the experience itself is delighting your cl your clients and your prospects. So your CRM should also have a way of tracking your sales pipeline and sales activity. So when you're kind of building, relationships with people and you know who your ideal client is, you likely have a process This by which you build that relationship, developing that know, like, and trust and, inviting People into your programs and a CRM will be able to help you make sure you manage that Well, so that you're not kind of finding a sticky note that's hidden on your desk. We all know that that happens at times, but definitely want to avoid that as much as possible. So it is time to invest In an all in 1 CRM, when you are starting regular marketing activities like sending out newsletters, posting on social media And running campaigns or promotions for a launch or a new cohort of for your program. All of those things mean that you have a lot of activity in your business. You are getting a lot of new leads into your mailing list, you need a way of nurturing them. I, segmenting them into who's really engaged and who's not so engaged. So you are targeting the right people to follow-up with.
So, again, that's another indicator when you need a CRM. So we've already talked about a couple of things. 1st is a new business, you know, You don't really need to be investing in a CRM when you just start. The phase where you should be considering it is when you've sold the same package and program and you've started to get into a rhythm. That's when you should be investing in a CRM. And definitely when you start running campaigns and promotions and you're doing a lot of marketing, you definitely need a CRM at that point because you have a lot of activity, you have a lot of contacts, and you need to focus on sending the right message to the right person at the right time. And you really cannot do that when you just have an email marketing tool. When you just have an email marketing tool, you're just blasting content out And you're, you're blasting it out generally to, one list. And, so they have to somehow figure out, You know what's really appropriate for them and what's not. And, I will tell you an example in my business where I did not segment my list. I had been sending out to, you know, just my general subscriber list. I was sending, you know, promotions and opportunities and offers, and I actually had a couple of my clients purchase The offer, even though they just didn't know they already had it. You know? And so at that point, I realized, Well, I need to segment my clients off of my subscriber list because they don't need those offers and they don't need to be hearing all that stuff. So I separated my client list. My clients get a totally different set of information. Some of it is maybe the same, but most of it is different because my clients already have the tool. So, their communication is more about how you use it more effectively than for a non-client where it's more about getting them to believe it's time to invest in a tool. So that's just one example of where once you start doing all this marketing activity, you really need to be thinking about segmenting your list so that the message you're sending is reaching the right people and not confusing people. So, again, I say an all in 1 CRM because, as a business owner, you need email marketing. You need the contact management part so that you can segment. You need automation. And you probably need the sales management tools as well. So all of those things will make you more efficient in your business then if you were using an Excel spreadsheet and email marketing tool and that's it.
So, yes, it will cost more than your Mailchimp maybe, but it will not. You know, when you think about all the time that you're spending doing double data entry and stuff like that. It will actually end up saving you time. And I haven't found a free tool that does all those things. They just don't. You know? They're going to be much more focused on one type of feature. So once you start using 3 to 5 tools, it is time to look at Getting an all in 1 or investing in a more substantial tool. And if you think, you know, hey, I'm really a solopreneur. I have maybe a part time assistant. Do I really need to be paying that much for a software product and the answer is yes because if you set it up right and you automate things, you are operating at a higher level. You know, I look at it as productivity with a major twist. And it's not, it's not doing it. It's not delegating it. It's not deleting it. It is automating it. It's a form of delegating, but you are literally able to do more things with less effort. So it will end up saving you money in how much you're paying an individual to maybe push paper kind of stuff. You know that data entry, tagging people, making sure people are in the correct list. Those are all things that your CRM could be doing for you. So you just have to be intentional about how you implement it. And, that's where, you know, you probably either if you're good at that, great. If you're not so good at that, it is helpful to have a guide and strategy partner. So a few other indicators that it is time for a CRM. You literally have Post it notes everywhere for follow-up, for, Networking next steps or referral next steps. So if Post It notes are on your desk or around your computer, It's time to invest in a tool.
Another indicator is, you know, you need more support, but you just really don't have the funds to hire a person. Or maybe you don't wanna be spending that much money on a person, where you don't have you know, you have a couple of hours a week, but you don't have enough to invest in a person, something like that. It's time to look at your tools because your tools will probably save you time on those routine and repetitive tasks. And then when you are ready to hire someone, they will be a much more strategic investment. And instead of just being an admin person, they will actually help you build your business, and that's, you know, far better than having them do admin work. Another indicator that it's time for CRM is that you are losing information and opportunities because you're not capturing the information anywhere, and you're too busy doing the work to be able to follow-up on opportunities. And finally, if you're working all the time, working nights and weekends to get it all done. Now I will say in my, you know, my life, I have found that my work style has changed as a business owner. And so I kind of work, you know, during the day. Hey. I take off at night and then I do maybe an hour after, dinner and stuff. It's just kind of my rhythm. But I don't feel that I'm working all the time, and I'm not, you know, so I do take time off and I go do stuff. I don't feel that I need to be trapped at my computer.
So if you're feeling like you're just constantly frazzled trying to get all of your things done, it is time to look at investing in a CRM. I promise you that if you're automating those repeatable routine activities, it will take a lot of the pressure off of you to be doing and keeping track of those things. This episode was about when you need a CRM, and I hope that it helped identify some points at which maybe it is time for you to invest in a CRM. And When I'm saying CRM again, I'm saying it all in one. So the biggest indicator is when you are paying or using 3 to 5 applications at any one time. Are your business systems a hot mess? Take the system scorecard quiz at www.worksmartyrdigital.com/quiz. You will receive proven strategies to leverage technology in your business. And when you schedule a system strategy session with me, I will personally provide you customized recommendations for your business. So, again, that is www.worksmartyrdigital.com/ quiz. Thank you so much for listening to this episode of the CRM success secrets podcast. Cheers to you, and I hope that your systems are successful.
