This may be tough love but if you own your own business we want to know if you’re ready to stop playing at business and start to really be IN business. There are still companies out there who take in tons of phone calls from potential customers and don’t ask for simple contact information, sometimes not even a first name. This is what I would call “playing” at business. You could have all the information in the world about your product and be able to share it with a prospect but if you have no idea who they are when they call back, your business relationship is already on shaky ground. If you don’t gather any data from your prospects, you also lose any potential for follow-up.
Here’s an example; one of our clients is a rent to own company with multiple locations and many sales people. Currently, they receive between 20-30 calls per day. They will ask the person calling for what they are interested in renting, if it’s in stock, give a quote and tell the potential customer to call back when they need something. This business recently found out they are losing a projected FIFTY THOUSAND DOLLARS in sales every month by not gathering simple pieces of data like names, email addresses and phone numbers.
By using CRM solutions and asking for and gathering this simple data, our rent to own company will not only be able to follow up with their prospects but also add them to a mailing list so they’ll know when products are in stock, not to mention the options available for tracking their locations, types of products they buy and much more. This will help them not only make up that $50K per month in lost sales but also has the potential to make them even more.
More on what can be done with all the data once it’s gathered, or data analysis (or converting this into valuable “information”), will be covered in our next blog post later this week so please keep reading and don’t forget to subscribe. Getting help from a business process consulting pro, like Softech Solutions LLC, and staying informed is a huge part of maintaining the difference between just “playing” and actually making big money for your company.