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Sales teams around the world are turning to the MEDDIC process to close more deals and increase their success rate. This powerful and proven approach has been used by some of the world’s largest companies to structure their sales operations, and it can help you too.

In this article, we’ll provide an in-depth overview of the MEDDIC process, covering the meaning and purpose of each of the six stages, the elements required for success, and the best practices for achieving maximum results.

Key Takeaways:

  1. The MEDDIC sales process is a powerful and proven approach that can help sales teams close more deals and increase their success rate.
  2. The six components of the MEDDIC framework are Metrics, Economic Buyer, Decision Criteria, Decision Process, Identify Pain, and Champion.
  3. Metrics are critical performance indicators that the customer uses to measure success and are useful in helping the sales rep qualify the customer and build credibility.
  4. Identifying the Economic Buyer is crucial because they hold the power to approve or reject proposals, and the sales rep should be prepared to discuss their solution’s financial benefits and provide a precise ROI calculation.
  5. Decision Criteria refers to the factors the customer considers when purchasing, and the sales rep should focus on addressing them throughout the sales process.

Table of Contents:

Understanding the MEDDIC Sales Process

MEDDIC is an acronym for Metrics, Economic Buyer, Decision Criteria, Decision Process, Identify Pain, and Champion.

This process is a customer qualification system that helps determine whether a company should invest time and resources into bringing a customer into its sales funnel.

By utilizing the MEDDIC process, companies can better understand their prospects and the potential fit between the customer and their product or service. This process helps companies focus their efforts on customers that are a good fit and are likely to benefit from the company’s offerings.

Compared to traditional sales, MEDDIC requires more data gathering and analysis to gain insight into the customer’s needs and is focused more on building relationships.

Experienced sales teams see this method as an effective strategy that helps increase the chances of a successful sale, as it focuses on deals that are more likely to close. It’s also easy to execute, breaking down complex sales processes into smaller, more manageable steps. This makes it simpler for sales teams to implement the strategy and measure their success.

The 6 MEDDIC Components

Let’s explore the six components of the MEDDIC framework and how you can use them to improve sales performance.

Metrics

The first component of the MEDDIC sales process is Metrics. Metrics are the key performance indicators that the customer uses to measure success. It is critical to understand these metrics because they are the primary drivers of the customer’s business objectives. Metrics can vary from customer to customer, but standard metrics include the following:

  • Revenue;
  • Profit;
  • Market share;
  • Customer satisfaction;
  • Employee satisfaction.

By understanding the customer’s metrics, the sales rep can tailor their solution to help the customer achieve their goals. For example, if a customer’s primary metric is revenue growth, the sales rep can position their solution as a tool that will help the customer increase revenue. The sales rep can also provide case studies and examples of how their solution has helped other customers achieve similar results.

Metrics are also useful in helping the sales rep qualify the customer. If the sales rep’s solution does not align with the customer’s metrics, it may not be a good fit. By understanding the customer’s metrics upfront, the sales rep can avoid wasting time on opportunities that are unlikely to close.

Another benefit of understanding the customer’s metrics is that it can help the sales rep build credibility with the customer.

During the MEDDIC sales process, a sales rep may ask the following questions:

  1. What are your primary business objectives?
  2. What metrics do you use to measure success?
  3. How do you currently track your metrics?
  4. What are your current performance levels for each of your key metrics?
  5. What are your targets for each of your key metrics?

Economic Buyer

The second component of the MEDDIC sales process is the Economic Buyer. This person has the authority to make the purchasing decision. Identifying the Economic Buyer is critical because they hold the power to approve or reject proposals. The Economic Buyer is typically a senior executive or decision-maker within the organization.

The sales rep should understand the Economic Buyer’s role in the purchasing decision and their priorities. This will help the sales rep tailor their proposal to meet the Economic Buyer’s needs and address their concerns.

The Economic Buyer is often concerned with the financial implications of a purchase. They want to ensure the solution aligns with the company’s budget and provides a return on investment. Therefore, the sales rep should be prepared to discuss their solution’s financial benefits, provide a precise ROI calculation, and address any objections.

Here are some examples of Economic Buyer questions that a sales rep might ask during the MEDDIC sales process:

  1. Who within your organization has the authority to make the final purchasing decision?
  2. What criteria does the Economic Buyer use to evaluate potential solutions?
  3. What are the Economic Buyer’s priorities and concerns?
  4. What level of budget authority does the Economic Buyer have?
  5. What is the Economic Buyer’s timeline for making a purchasing decision?

Decision Criteria

The third component of the MEDDIC sales process is Decision Criteria, which refers to the factors the customer considers when purchasing. By understanding these factors, the sales rep can tailor their solution to meet the customer’s specific needs and address any concerns they may have.

Common Decision Criteria include cost, functionality, reliability, ease of use, integration with existing systems, and vendor reputation. Identifying the Decision Criteria upfront is essential to ensure the sales rep positions their solution to meet the customer’s needs.

Once the Decision Criteria have been identified, the sales rep should focus on addressing them throughout the sales process. For example, if cost is a significant concern for the customer, the sales rep should be prepared to discuss pricing and provide cost savings examples. If functionality is essential, the sales rep should give detailed information about the solution’s features and benefits.

The sales rep can proactively identify and address potential objections by understanding the customer’s Decision Criteria. For example, if the customer is concerned about integrating existing systems, the sales rep can provide information about the solution’s compatibility with other systems and any relevant case studies.

Decision Criteria questions that a sales rep could ask in the MEDDIC sales process include:

  1. What factors are most important to you when evaluating potential solutions?
  2. What are your primary concerns when considering a new solution?
  3. What are the key features and functionalities that you require?
  4. What are the must-have features vs. the nice-to-have features?
  5. What is your budget for this initiative?

Decision Process

The Decision Process is the fourth component of the MEDDIC sales process, and it involves understanding the customer’s buying process and decision-making structure. Identifying who is involved in the decision-making process, their roles, and their priorities and concerns is essential. This way, the sales rep can tailor their approach to meet customer needs and address concerns.

The Decision Process can be complex, requiring a deep understanding of the customer’s structure and hierarchy. The sales rep can focus on building relationships with key stakeholders and influencers.

For example, if a stakeholder is resistant to change, the sales rep can work to build a relationship with them and address their concerns. Armed with this information, the sales rep can create a tailored plan to address each factor and demonstrate how their solution meets the customer’s unique needs. Ultimately, the sales rep can become a trusted advisor and a valuable resource to the customer, guiding them through decision-making and helping them achieve their business goals.

Here are some of the questions sales reps might ask during the Decision Process phase:

  1. Who is involved in the decision-making process?
  2. What are the roles and responsibilities of each person involved in the decision-making process?
  3. What is the customer’s timeline for making a decision?
  4. What is the process for evaluating potential solutions?
  5. What criteria will be used to make the final decision?

Identify Pain

Another essential component of the MEDDIC sales process is Identify Pain. This involves understanding the customer’s pain points, challenges, and areas of opportunity. By understanding the customer’s pain, the sales rep can tailor their solution to address their needs and provide value.

The first step in identifying pain is to ask the right questions. The sales rep should ask open-ended questions encouraging customers to share their challenges and concerns. The sales reps should also be active listeners, paying close attention to the customer’s responses and asking follow-up questions including but not limited to:

  1. What are your current challenges?
  2. What are your most significant pain points?
  3. What issues keep you up at night?
  4. What areas of your business could be performing better than you would like?
  5. What are your customers saying about your products or services?

Once the sales rep has identified the customer’s pain points, they can position their solution as a tool to address those issues. The sales rep should provide case studies and examples of how their solution has helped other customers overcome similar challenges. The sales rep should also be prepared to provide data and metrics to demonstrate the effectiveness of their solution.

Champion

The Champion is a person within the customer’s organization who advocates for the sales rep and their solution. The Champion is typically passionate about the solution and willing to advocate for it internally.

Identifying a Champion is crucial for the success of the sales process. The Champion can help the sales rep navigate the customer’s organization and build relationships with key stakeholders. The Champion can also provide valuable insight into the customer’s decision-making process and help the sales rep address objections and concerns.

Once the Champion has been identified, the sales rep should focus on building a solid relationship with them. The sales rep should provide regular updates and information about the solution and work with the Champion to address any concerns or objections from other stakeholders. By working closely with the Champion, the sales rep can increase their chances of success and close the deal.

Here are some examples of Champion questions:

  1. Who within the customer’s organization is most passionate about this initiative?
  2. Who has expressed the most interest in your solution?
  3. Who would be the most likely advocate for your solution?
  4. Who has the most influence on the decision-making process?
  5. Who has the most to gain from the success of this initiative?

Applying MEDDIC in Real Life

In real life, MEDDIC can be involved in each stage of the sales process.

For example, during prospecting, the sales rep should focus on understanding the customer’s pain points and identifying potential Champions within the organization. The sales rep should ask open-ended questions to learn about the customer’s needs and priorities. By understanding the customer’s pain points and identifying potential Champions, the sales rep can tailor their approach and increase the chances of success.

Later, during the qualifying stage, the sales rep should focus on understanding the customer’s decision-making process and identifying the Economic Buyer. The sales rep should also determine the customer’s Decision Criteria and understand how their solution meets them. This MEDDIC component is also used during the proposal stage, where sales reps should also be prepared to address objections and concerns from stakeholders.

To ensure successful MEDDIC selling, the sales team must thoroughly understand each step of the process. Sales reps must get to know their prospects and pay attention to the questions they ask. By doing so, they can understand their customers’ needs and identify pain points that their product or service can address. Moreover, they need to position their offering as a solution to the prospect’s challenges and ensure that the decision-makers know the benefits their product or service can provide.

Closing More Deals With MEDDIC

By focusing on the critical factors of Metrics, Economic Buyer, Decision Criteria, Decision Process, Identify Pain, and Champions, sales professionals can effectively navigate the complex sales landscape and increase their chances of closing deals.

If you’re looking to implement MEDDIC in your sales process, there are several steps you can take to get started. Ensure that all sales team members are trained on the MEDDIC methodology and understand how to apply it to their sales efforts. Then, establish clear metrics and key performance indicators that align with the MEDDIC process. Finally, continually collect and analyze data to identify areas for improvement and refine your approach over time.

Start implementing the MEDDIC sales process today with the help of Teamgate CRM.

Frequently Asked Questions (FAQs): MEDDIC Sales Process

  • How does the MEDDIC framework work in sales?
    • The MEDDIC framework is a sales methodology designed to help sales professionals qualify and close complex deals more efficiently. It emphasizes understanding the customer’s needs and decision-making process by focusing on six key components: Metrics, Economic Buyer, Decision Criteria, Decision Process, Identify Pain, and Champion. By systematically addressing these components, sales teams can better align their solutions with the customer’s requirements, leading to higher success rates in closing deals.
  • What are the main elements of the MEDDIC process?
    • The main elements of the MEDDIC process are:
      1. Metrics: Quantifiable measures of success for the customer.
      2. Economic Buyer: The person with the authority to make the purchasing decision.
      3. Decision Criteria: The specific criteria that the customer uses to evaluate potential solutions.
      4. Decision Process: The steps and stakeholders involved in the customer’s decision-making process.
      5. Identify Pain: Understanding the customer’s pain points and challenges.
      6. Champion: An advocate within the customer’s organization who supports your solution.
  • What are some practical examples of using MEDDIC in sales?
    • Practical examples of using MEDDIC in sales include:
      • Metrics: Identifying and quantifying the key performance indicators (KPIs) that your solution will improve for the customer.
      • Economic Buyer: Engaging directly with the decision-maker to understand their budget constraints and approval process.
      • Decision Criteria: Mapping your solution’s features to the customer’s specific evaluation criteria.
      • Decision Process: Creating a timeline that aligns with the customer’s decision-making process and ensuring all stakeholders are informed.
      • Identify Pain: Conducting discovery calls to uncover the customer’s primary challenges and tailoring your pitch to address these issues.
      • Champion: Building a relationship with a key contact within the customer’s organization who can influence the decision in your favor.
  • In what ways does MEDDIC improve sales closure rates?
    • MEDDIC improves sales closure rates by providing a structured approach to understanding and addressing the customer’s needs. By focusing on critical factors such as Metrics and Economic Buyer, sales teams can tailor their solutions to meet the customer’s specific requirements. Additionally, by identifying Pain points and leveraging Champions, sales professionals can build stronger relationships and create more compelling value propositions. This thorough understanding and alignment with the customer’s decision-making process lead to higher chances of closing deals successfully.
  • Why are Metrics important in MEDDIC?
    • Metrics are important in MEDDIC because they provide a quantifiable measure of the value your solution delivers to the customer. By identifying and focusing on key performance indicators (KPIs) that matter to the customer, sales professionals can demonstrate the tangible benefits of their solution. Metrics help to build a strong business case, justify the investment, and align the sales pitch with the customer’s strategic goals. This clarity and relevance increase the likelihood of securing buy-in from the decision-makers.
  • How can I identify the Economic Buyer in the MEDDIC approach?
    • To identify the Economic Buyer in the MEDDIC approach, you should:
      • Conduct thorough research on the customer’s organization to understand the hierarchy and decision-making roles.
      • Ask direct questions during discovery calls to determine who has the final authority to approve the purchase.
      • Look for signs such as who controls the budget, who has the power to allocate resources, and who the other stakeholders defer to during discussions.
      • Use your Champion within the customer’s organization to gain insights and introductions to the Economic Buyer.
  • What are Decision Criteria in MEDDIC?
    • Decision Criteria in MEDDIC refer to the specific requirements and standards that the customer uses to evaluate potential solutions. These criteria can include technical specifications, cost, return on investment (ROI), vendor reputation, and alignment with strategic goals. Understanding the customer’s Decision Criteria helps sales professionals tailor their presentations and proposals to highlight how their solution meets or exceeds these standards, thereby increasing the chances of winning the deal.
  • How do I uncover the Decision Process in the MEDDIC framework?
    • To uncover the Decision Process in the MEDDIC framework, you should:
      • Ask the customer detailed questions about the steps involved in their decision-making process.
      • Identify all stakeholders who influence or have a say in the final decision.
      • Understand the timeline and key milestones for the decision-making process.
      • Clarify any internal approvals or reviews that need to take place.
      • Use this information to align your sales strategy and ensure you are addressing all necessary steps and stakeholders.
  • How do I identify customer Pain Points in MEDDIC?
    • To identify customer Pain Points in MEDDIC, you should:
      • Conduct in-depth discovery calls and ask open-ended questions to understand the customer’s challenges and frustrations.
      • Listen actively and empathetically to what the customer is saying and what they are not saying.
      • Look for recurring themes and issues that the customer mentions.
      • Analyze the impact of these Pain Points on the customer’s business and how your solution can alleviate them.
      • Validate your findings by summarizing the Pain Points back to the customer and confirming their importance.
  • How can I identify and leverage Champions in sales using MEDDIC?
    • To identify and leverage Champions in sales using MEDDIC, you should:
      • Look for individuals within the customer’s organization who have a strong influence and a positive attitude towards your solution.
      • Engage with these individuals early in the sales process and build a strong relationship based on trust and mutual benefit.
      • Provide them with the information and tools they need to advocate for your solution internally.
      • Involve them in key meetings and decision-making discussions to ensure they can support your case effectively.
      • Recognize and appreciate their efforts to maintain their support and enthusiasm for your solution.

In this comprehensive guide, we delve into CRM analytics, its evolution, components, benefits, functioning, and implementation strategies. We also explore the top CRM analytics tools, best practices, success stories, and glimpse into its AI-infused future.

Key Takeaways:

  1. CRM analytics is a powerful tool that transforms raw customer data into actionable insights, driving informed business decisions.
  2. Contact analytics, customer analytics, sales analytics, marketing analytics, and service analytics form the core components of CRM analytics.
  3. Implementing CRM analytics enhances customer service, streamlines marketing efforts, and boosts sales performance.
  4. Effective implementation of CRM analytics involves preparing your team, choosing the right tool, setting up the system, training the team, and continuous monitoring for improvements.
  5. The future of CRM analytics is bright with the integration of AI and machine learning, promising more accurate predictive insights.

Table of Contents

  1. Introduction to CRM Analytics
  2. Evolution of CRM Analytics
  3. Key Components of CRM Analytics
  4. Benefits of CRM Analytics
  5. How CRM Analytics Work
  6. Implementing CRM Analytics: A Step-by-step Guide
  7. Best Practices for CRM Analytics
  8. Case Studies: Success Stories of CRM Analytics
  9. The Future of CRM Analytics
  10. Conclusion
  11. FAQs

Introduction to CRM Analytics

In the ever-evolving landscape of business, CRM analytics emerges as the lynchpin that binds customer relationships and data-driven decision-making. At its core, CRM analytics is the detailed examination of customer relationship management (CRM) data. It transforms raw data into actionable insights, helping businesses predict customer behavior, understand market trends, and improve overall customer service.

The importance of CRM analytics in business cannot be overstated. It offers a deep dive into customer data, revealing patterns and trends that pave the way for personalized customer interaction, informed decision-making, and strategic business moves. Simply put, CRM analytics is the compass that navigates the vast ocean of customer data.

Evolution of CRM Analytics

The roots of CRM analytics trace back to the 1980s, with the advent of database marketing. Early CRM systems were simple, focusing primarily on collecting customer information. As technology advanced, these systems evolved into comprehensive tools that not only stored data but also provided valuable insights into customer behavior.

Modern CRM analytics, powered by technologies like big data, AI, and machine learning, offer real-time insights and predictive analytics. They have transformed into intelligent systems capable of forecasting customer behavior, optimizing marketing campaigns, and enhancing customer service.

Key Components of CRM Analytics

CRM analytics encompasses various components, each contributing to a holistic view of customer behavior.

  1. Contact Analytics: This component dives into contact data, revealing insights about customer touchpoints and interactions.
  2. Customer Analytics: It analyzes individual customer behavior and preferences, helping businesses customize their offerings.
  3. Sales Analytics: This focuses on sales data, providing insights into sales trends, pipeline performance, and sales forecasting.
  4. Marketing Analytics: It optimizes marketing efforts by analyzing the success of marketing campaigns and customer response.
  5. Service Analytics: This component analyzes customer service data to identify service gaps and improve customer satisfaction.

Benefits of CRM Analytics

The strategic implementation of CRM analytics reaps numerous benefits. It enhances customer service by providing personalized customer experiences. By streamlining marketing efforts, it ensures the right message reaches the right customer at the right time. It boosts sales performance by helping businesses understand and predict sales trends. Moreover, CRM analytics improves overall business strategies by providing a data-backed foundation for decision-making.

How CRM Analytics Work

CRM analytics involves a systematic process:

  1. Data Collection: It begins with gathering customer data from various sources, including sales, marketing, and customer service.
  2. Data Integration: The collected data is then integrated into a single platform, ensuring a comprehensive view of customer behavior.
  3. Data Analysis: Using advanced analytical tools, the integrated data is analyzed to identify patterns and trends.
  4. Data Interpretation: The analyzed data is interpreted to derive meaningful insights about customer behavior, sales trends, and marketing effectiveness.
  5. Actionable Insights: Finally, these insights are converted into actionable strategies to improve customer relationships and business performance.

Implementing CRM Analytics: A Step-by-step Guide

Successfully implementing CRM analytics requires a systematic approach:

  1. Preparing Your Team: Begin by creating awareness about the benefits of CRM analytics and how it can transform business operations.
  2. Choosing the Right Tool: Evaluate different CRM analytics tools and choose one that aligns with your business needs.
  3. Setting up the System: Configure the selected tool, ensuring it aligns with your business processes and captures necessary data.
  4. Training Your Team: Provide comprehensive training to your team, ensuring they can effectively use the CRM analytics tool.
  5. Continual Monitoring and Improvement: Regularly review the system’s effectiveness and make necessary improvements to ensure it continues to meet business needs.

Best Practices for CRM Analytics

To maximize the benefits of CRM analytics, follow these best practices:

  1. Ensure Data Quality: The insights derived from CRM analytics are only as good as the data fed into it. Regularly clean and update your data to maintain its quality.
  2. Integrate Data Sources: To get a holistic view of customer behavior, integrate data from all customer touchpoints.
  3. Leverage Real-time Analytics: Real-time insights can help you respond promptly to customer needs and market trends.
  4. Prioritize Security: With the increasing threat of data breaches, ensuring data security should be a top priority.

Case Studies: Success Stories of CRM Analytics

Several businesses have reaped the benefits of CRM analytics:

  1. Amazon: Amazon’s recommendation engine, driven by CRM analytics, has significantly increased their cross-selling success.
  2. Starbucks: Starbucks uses CRM analytics to understand customer preferences and personalize their offerings, enhancing customer satisfaction.
  3. American Express: American Express uses predictive analytics to anticipate customer behavior and tailor their services.

The Future of CRM Analytics

The future of CRM analytics is ripe with potential. With the integration of AI and machine learning, CRM systems will become even more intelligent, capable of predicting customer behavior with unprecedented accuracy. It’s a future that every business should aspire to be a part of and adopt.

Conclusion

In the era of data-driven decision making, the importance of CRM analytics cannot be overstated. It serves as a powerful tool that transforms a multitude of customer data into actionable insights, enabling businesses to enhance their customer relationships while making strategic decisions backed by solid data.

In the modern world, the use of CRM analytics is not merely a nice-to-have tool but rather a business imperative. It offers a strategic advantage by providing deep customer insights, improving customer service, optimizing marketing efforts, and enabling informed business decisions. Investing in CRM analytics today will undoubtedly yield significant dividends for businesses in the future.

At Teamgate CRM, analytics is second nature. For this reason we offer the most powerful, out-of-the-box sales analytics and insights on the market. With zero setup required, your business could be well on the way to becoming data-drvien. Reach out to our team today for your free trial.

FAQs

  1. What is CRM analytics and why is it important?
    CRM analytics is the analysis of customer data to improve customer relationships and business decision-making.
  2. What are the key components of CRM analytics?
    The key components are contact analytics, customer analytics, sales analytics, marketing analytics, and service analytics.
  3. What are the benefits of CRM analytics?
    CRM analytics enhances customer service, streamlines marketing efforts, boosts sales performance, and improves business strategies.
  4. How does CRM analytics work?
    It involves data collection, data integration, data analysis, data interpretation, and deriving actionable insights.
  5. How can I implement CRM analytics in my business?
    Implement CRM analytics by preparing your team, choosing the right tool, setting up the system, training your team, and continually monitoring and improving.
  6. What are some best practices for CRM analytics?
    Best practices include ensuring data quality, integrating data sources, leveraging real-time analytics, and prioritizing security.
  7. Are there any success stories of businesses using CRM analytics?
    Companies like Amazon, Starbucks, and American Express have successfully used CRM analytics.
  8. What is the future of CRM analytics?
    The future lies in the integration of AI and machine learning for more accurate predictive analytics.
  9. How does AI and Machine Learning impact CRM analytics?
    AI and Machine Learning enhance CRM analytics by enabling predictive analytics and providing more accurate insights.

Digital marketing has transformed the advertising industry tremendously. In fact, it has become pivotal to developing advertising strategies. But, there are two forms of digital advertising: search ads and display advertising. The former was the most popular in the advent of digital advertising, but display advertising has outdone text ads by a pretty significant margin in the last three years.

Experts predict a 25% increase for the next five years due to the soaring demand for display content among consumers. Here’s an in-depth overview of what display advertising is and the types marketers should use to foster growth.

Contents

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Understanding Display Advertising

The Essence of Display Advertising

Display advertising is the digital equivalent of a billboard that you encounter on the internet’s highways. Yet, it transcends the static nature of traditional billboards, offering interactive, dynamic, and targeted content tailored to the online consumer’s interests and behaviors. At its core, display advertising is a visual-based form of online advertising that encompasses banners, images, and videos to convey a marketing message across various websites, social media platforms, and digital environments.

The Strategic Role in Marketing

Display advertising doesn’t just aim to inform; it seeks to engage and persuade. It plays a pivotal role in the marketing mix, offering versatility in strategy from brand awareness and engagement to conversion and retention. By leveraging data analytics and targeting technologies, display ads can reach a specific audience segment at optimal times and places, making every impression count.

A Journey Through Time

The evolution of display advertising is a testament to the internet’s rapid growth and the ever-changing landscape of digital marketing. From the first banner ad that graced the internet in 1994, proclaiming “Have you ever clicked your mouse right HERE? You will,” to today’s sophisticated programmatic advertising platforms, display advertising has come a long way. It has adapted to the shifts in consumer behavior and technological advancements, becoming more personalized, interactive, and measurable.

Display Advertising Categories

It is a form of sales and marketing that attracts the audience to a website, social media platform, or other digital channels to perform a particular action (click-through a landing page or purchase an item). The ads are also used for retargeting a campaign encouraging a visitor to return to the website to take action. The adverts may be in the form of images, videos, flash or audio and may appear on specific websites on the internet. Here’s a breakdown of the different categories:

Banner Ads

It is an advertisement displayed on a web page that consists of an image (gif, .jpg, .png) or a multimedia object. Banner ads can be animated or static, depending on the media used to create it.  Banner ads function the same way as regular table banners, and other forms of print media advertise products, inform customers about a new product and create brand awareness. Some advantages of using banner ads include:

  • Announce sales offers and discounts
  • Increase sales: Customers are then encouraged to purchase certain products
  • Increase customer traffic: the banners encourage visitors to go to the advertiser’s website

Rich Media

This kind has interactive features like audio, video, and clickable elements that encourage visitors to engage with the content. The ad provides more ways of engaging an audience as it can float and expand. Additionally, marketers can access aggregated metrics like the audience video completions, their behavior, and the number of expansions.

Rich media display advertising allows marketing agencies to create elaborate ads that can trigger a user’s response. What’s more, the introduction of HTML5 technology enables advertisers to include different content (tweets, videos, games) in one placement. Some advantages of using rich media are:

  • Access to better metrics than traditional advertisements
  • Increased view rates, conversions, and click-through rates
  • A better user experience

Interstitial Ads

They are full-screen ads designed to cover the interface of a website. Interstitial ads are a popular form of advertisement used on mobile ads due to their high impression rate. Since they appear between the content, they are best placed at natural breaks, e.g., in-between game levels. This full-coverage differentiates them from other ads like banner ads and pop-ups. Other reasons marketers use these ads include:

  • High click-through rates that lead to higher conversion rates
  • Their large sizes that leave large impressions on the target audience

Video Ads

It is the use of video content to advertise products. Marketers use this form of advertising because it allows them to connect with the audience on a personal level and is relatively cheap to create. Also, the proliferation of mobile devices has spurred the growth of video advertising.
A report by IAB Video Advertising Spend shows that two-thirds of video ad revenue originates from mobile devices. There are three types of video ad formats, which are Linear video ads that mimic TV commercials, non-linear video ads that run along with video content, and companion ads that include images and texts.

Types of Display Advertising

As we delve deeper into the world of display advertising, it becomes evident that one size does not fit all. The diversity in types of display advertising allows marketers to craft campaigns that resonate with their target audience, align with their objectives, and fit within their budget. Here, we explore the primary types of display advertising that have become essential tools in the digital marketer’s toolkit.

Standard Display Ads

Standard display ads are the foundational elements of display advertising. These ads appear as static or animated images or banners placed on websites within ad networks. They are versatile and straightforward, offering a direct approach to conveying a message or promoting a product. However, their simplicity does not detract from their effectiveness. With compelling creative elements and strategic placement, standard display ads can significantly enhance brand visibility and user engagement.

Responsive Display Ads

In a world where consumers switch between devices like channels on a television, responsive display ads stand out for their adaptability. These ads automatically adjust their size, appearance, and format to fit any ad space available, ensuring optimal display across different screen sizes and devices. This fluidity not only improves the user experience but also maximizes the ad’s reach and impact. Responsive ads are a testament to the evolution of display advertising, embracing flexibility in a multi-device world.

Retargeting Ads

Retargeting ads serve as a digital reminder, nudging users who have previously interacted with a brand but did not convert. These ads strategically reappear to these users as they browse the internet, keeping the brand top of mind and encouraging them to complete a desired action, such as making a purchase. Retargeting is a powerful tool in converting potential interest into tangible action, leveraging past engagement to foster future transactions.

Social Media Display Ads

Social media platforms are not just social networking sites anymore; they are powerful advertising landscapes where display ads thrive amidst engaging content. Social media display ads leverage the platforms’ vast user data to offer unparalleled targeting capabilities, from demographic and psychographic segmentation to behavior-based targeting. Each social media network offers unique ad formats tailored to its environment and audience behaviors, such as Facebook’s Carousel Ads, Instagram’s Sponsored Posts, and Twitter’s Promoted Tweets. These ads are designed to blend seamlessly with the user’s feed, offering a less intrusive advertising experience that can drive higher engagement and conversion rates.

Native Advertising

Native advertising is the chameleon of the display advertising world. These ads match the look, feel, and function of the media format in which they appear, disguising themselves as natural content rather than blatant advertisements. By aligning closely with the user’s browsing experience, native ads reduce ad fatigue and improve user engagement. They can take various forms, including sponsored content articles, in-feed ads, and recommended posts. The key to successful native advertising lies in its relevance and value to the audience, providing content that is not only promotional but also informative or entertaining.

Video Display Ads

As digital consumption patterns shift towards a preference for video content, video display ads have surged in popularity and effectiveness. These ads incorporate video to capture attention, convey messages more dynamically, and create a deeper emotional connection with the audience. Video display ads can be found in pre-roll, mid-roll, or post-roll slots within video content, as well as in standalone placements on websites and social media platforms. The immersive nature of video allows for creative storytelling and brand presentation, making it a powerful tool for awareness and engagement campaigns.

Interactive Display Ads

Interactive display ads invite user participation, transforming passive viewers into active participants. These ads incorporate elements such as games, quizzes, polls, or interactive videos to engage users in a unique and memorable way. The interactivity not only enhances user engagement but also provides valuable insights into user preferences and behaviors. Interactive ads can significantly increase the time spent with the brand, fostering a stronger connection and higher likelihood of conversion.

Measuring Success in Display Advertising

In the realm of digital marketing, the adage “What gets measured gets managed” rings particularly true. For display advertising campaigns, assessing performance and impact is crucial to justify investments and guide future strategies. Here’s how to measure success in display advertising:

Key Performance Indicators (KPIs) for Display Advertising

Success in display advertising can be quantified through several key performance indicators, each offering insights into different aspects of campaign effectiveness:

  • Click-Through Rate (CTR): The ratio of users who click on an ad to the number of total users who view the ad (impressions). High CTR indicates compelling ad creatives and effective targeting.
  • Conversion Rate: The percentage of users who take a desired action (e.g., purchase, sign-up) after clicking on an ad. It measures the ad’s ability to persuade users to complete a conversion goal.
  • Cost Per Click (CPC) and Cost Per Acquisition (CPA): CPC measures the cost incurred for each ad click, whereas CPA denotes the cost for each conversion. These metrics help evaluate the financial efficiency of display ad campaigns.
  • Return on Advertising Spend (ROAS): A metric that calculates the total revenue generated for every dollar spent on advertising. ROAS is critical for understanding the profitability of display advertising efforts.
  • Engagement Metrics: Includes metrics like time spent on site, pages per visit, and bounce rate for users who arrive via display ads. These metrics provide insights into how engaging and relevant the ad content is to the audience.

Tools and Techniques for Tracking and Analyzing Performance

Leveraging the right tools and technologies is essential for accurately measuring and analyzing the performance of display advertising campaigns. Google Analytics, Google Ads, and various ad management platforms offer comprehensive analytics features, including:

  • Conversion Tracking: To monitor actions taken by users after clicking on an ad, enabling advertisers to understand how ads contribute to conversion goals.
  • A/B Testing Tools: For comparing different versions of ads to determine which performs best in terms of engagement and conversions.
  • Audience Insights: To gain deeper understanding of the audience’s demographics, interests, and behaviors, informing better targeting and personalization strategies.

As we look to the horizon, the future of display advertising is shaped by technological advancements, evolving user expectations, and changing regulatory landscapes. Here are key trends that will define the next era of display advertising:

Emergence of AI and Machine Learning

Artificial intelligence (AI) and machine learning (ML) are set to revolutionize display advertising by enabling more sophisticated targeting, personalization, and optimization. AI algorithms can analyze vast amounts of data to predict user behavior, automate ad placements, and optimize bidding strategies in real-time, ensuring maximum efficiency and effectiveness of ad campaigns.

Increased Focus on Privacy and Data Protection

With growing concerns over privacy and data protection, regulations like GDPR and CCPA have reshaped the digital advertising landscape. Advertisers will need to navigate these regulations carefully, adopting privacy-first strategies that respect user consent while still delivering personalized ad experiences. Cookie tracking software remains a valuable tool for understanding user preferences and enhancing ad relevance when used responsibly. By ensuring that tracking aligns with consent standards, companies can create personalized experiences that benefit users, while giving them greater control over their data.

Rise of Augmented Reality (AR) and Interactive Ads

Augmented reality and interactive ad formats are gaining traction, offering immersive experiences that engage users in novel ways. AR ads, in particular, can bridge the gap between digital and physical worlds, providing users with interactive and personalized experiences that drive engagement and conversion.

Shift Towards Contextual Advertising

As cookie-based targeting becomes less viable due to privacy restrictions, contextual advertising is making a comeback. By aligning ads with the content’s context, advertisers can achieve relevance and engagement without relying on personal data, ensuring compliance with privacy standards.

Conclusion

The landscape of display advertising is continuously evolving, driven by innovation, consumer behavior shifts, and regulatory changes. By understanding the various types of display advertising, adopting strategic approaches for growth, measuring success accurately, and staying ahead of future trends, marketers can leverage display advertising to achieve significant business growth. As we venture forward, the agility to adapt and innovate will remain key to harnessing the full potential of display advertising in the digital era.

FAQs: Display Advertising

1. What is the difference between display advertising and search engine advertising?

Answer: Display advertising and search engine advertising are two pillars of digital marketing with distinct approaches. Display advertising focuses on visually engaging ads (like banners, videos, and interactive ads) placed on various websites across the internet to build brand awareness and capture attention. It targets users based on their interests, demographics, or behaviors, often regardless of their immediate intent to purchase. Search engine advertising, on the other hand, targets users based on their search queries on platforms like Google or Bing. These ads are text-based and appear alongside search results, targeting users with a specific intent or who are actively searching for related products or services.

2. How do I choose the right type of display advertising for my business?

Answer: Choosing the right type of display advertising depends on your marketing objectives, target audience, budget, and content strategy. For brand awareness and broad reach, standard and responsive display ads are cost-effective options. If your goal is to engage users or promote interaction, consider video or interactive display ads. For businesses aiming to drive conversions from users who have previously shown interest, retargeting ads are highly effective. Analyzing your audience’s online behavior and preferences can also guide your choice, ensuring your ads resonate and achieve your desired outcomes.

3. Can small businesses benefit from display advertising?

Answer: Absolutely, small businesses can significantly benefit from display advertising. It offers a flexible and scalable approach to reach a broad audience without requiring a large upfront investment. By targeting specific demographics, interests, and behaviors, small businesses can efficiently allocate their budgets to reach potential customers. Additionally, the use of retargeting ads and local targeting strategies can help small businesses drive conversions and build brand loyalty within their community or niche market.

4. How much should I budget for display advertising?

Answer: The budget for display advertising can vary widely depending on your campaign goals, target audience, and competition. It’s advisable to start with a test budget to experiment with different ad formats and targeting options to see what works best for your business. From there, you can scale up your spending based on the ROI and KPIs like CTR, CPC, and conversion rate. Remember, the key is not just how much you spend but how effectively you allocate your budget across different types of display ads and targeting strategies to maximize your returns.

5. What are the best practices for creating display ad creatives?

Answer: Effective display ad creatives are visually appealing, brand-consistent, and message-clear. Use high-quality images or videos, concise and compelling copy, and a clear call-to-action (CTA) to encourage user engagement. It’s also important to design with your target audience in mind, personalizing the message to their interests and needs. A/B testing different creative elements can help identify what resonates best with your audience. Additionally, ensure your ads are optimized for different devices and screen sizes, especially for responsive display ads.

6. How does retargeting work in display advertising?

Answer: Retargeting in display advertising works by tracking visitors to your website and then serving them targeted ads as they browse other sites on the internet. This is achieved through cookies or pixels placed on your website, which collect data on user behavior. This information allows advertisers to target ads based on specific actions a user has taken on their site, such as visiting a product page or adding items to a shopping cart, with the goal of encouraging them to return and complete a purchase or another desired action.

7. What are the most common mistakes in display advertising campaigns?

Answer: Common mistakes in display advertising campaigns include not defining clear objectives, failing to target the right audience, using generic ad creatives that don’t resonate with the target audience, neglecting A/B testing, and not optimizing campaigns based on performance data. Another mistake is overlooking the importance of mobile optimization, given the increasing prevalence of mobile device usage. Avoiding these pitfalls by setting clear goals, targeting effectively, creating engaging and personalized creatives, and continually analyzing and refining your strategy can significantly improve your campaign’s success.

In today’s digital world, now it truly means to say that ‘Customer is the King’. Consumers to have access to vast information with easy internet availability. Customer satisfaction is no longer a traditional word to be used to measure happiness. It is now have become the real deal when it comes to revenues of any sustainability of the business.

There are tons of tactics that a company can try to keep up with customer’s expectations. In this blog, we are going to learn about lessons learned from 2019 to be implemented in 2020 for better customer engagement.

NPS– NPS is known as the ‘Net Promoter Score’. This score is very essential to measure and monitor consistently. Investors have started looking at NPS scores of a product or service very seriously. NPS is the latest way to measure customer happiness index. This has become important as this methodology has the ability to gather feedback about a product or a service from time to time.

How does it work? It works on very simple math. Let’s look at it with a simple example. Say you have 100 customers and have you have asked them to rate your product on the scale from 1 to 10, 10 being the best. The customers will also have an option to write a personalized message if they rate lower than the expected threshold. In this case, let’s take the threshold at 7. Basically, anyone rating the product 7 or below 7 will have to write the reason for the low rating. Depending on their ratings they will be called detractors and promoters. Click here to read about how NPS is calculated in detail. 

Upgrade offers- You can find many cold calling tips for sales but it equally important to keep the customer engaged by providing him various offers to upgrade. Generally, the customer wants to first try the product and then based on experience, they may want to upgrade or downgrade. There are multiple ways to pitch the customer for the upgrade but the best way is to get a local phone number and call them. 

Talking to the customer is by far the best way possible to increase customer engagement. This gives the company and the customer an opportunity to share meaningful information from each other.

Survey- It is observed that 76% of the customers switch the service provider just because no one asked them about their experience of using the service. Due to cut-throat competition in the market in almost every industry, there are companies that offer lucrative offers and discounts to cross-sell. It won’t come as a surprise the customer leaves you in a very short period of time. 

Every business must get a virtual phone number in their customer service department and start calling the customers to gather feedback. You can ask only 2 simple questions. Are you happy using the XYZ product? and Would you recommend XYZ to your friends? Upon making 100 calls you will get mind-boggling results.

The ultimate guide to customer engagement in 2020

Newsletter- It is extremely important to make your customers feel part of the company’s growth. It will add tremendous value for retention and reference. Every company must send at least one newsletter, either a hardcopy or softcopy. The newsletter generally, includes customer experiences, new releases, industry news, employee blogs, etc.

Newsletters provide the best return on investment in a short period of time. It is a must adopt a customer engagement tool.

Notifications- If you are in the software business or you have a website to display your product or service. Then, you must send web notifications to customers to promote your product or service with the best discounts and deals. It will provoke the consumer to upgrade or refer. You can also use pop-ups, push notifications using push APIs in the case of Android and iOS apps.

In fact, it has become very popular to send personalized notifications to the customer directly on their birthday and anniversary. Sending out SMS or email is also one form of notification. This basically means that you should know everything about your customers and delight them with various notifications to keep your brand on their tongue at all times.

Notification increases the visibility of your brand and offers by at least 20% then average. It is one of the most used tools in 2019 and will be more popular in 2020.

The ultimate guide to customer engagement in 2020

Conclusion- Customer engagement is a vital factor in the success of any product or service-oriented business. You may have the best sales automation in place however, it is equally important to keep the customer engaged throughout the journey. All of the above tools and methodologies will help your business grow at a faster speed. Moreover, it will help you analyze your own challenges and struggles that you should work on.

Launching a business is easy, marketing is tough, selling is tougher and retaining is even harder than selling. Therefore, customer engagement becomes a very important practice in the business for consistent grown and sustainability. 

The point of running a business is to make a profit through sales of your product or services. Digital marketing allows us to generate more leads, reach out to wider market space, and gain information that could help us develop a smarter business strategy. That’s why we are going to let you in on some of the top sales conversion tips that you can incorporate within your strategy and generate sales quickly.

1. Visual content

A picture tells a thousand words but it can also help the audience process the information quicker. According to scientists, our attention span is short and you’d have a better chance to deliver your message through graphics and other visual aids than words. This applies to all supporting channels of interaction like emails, web content, social media posts, or SMS messages.

2. Don’t wait too long

Statistics tell us that you’d have more success in converting your prospects into customers if you contact them as soon as they leave their contact information. As soon as you get their email, send your best offer (if possible personalized according to prospect’s interaction with your brand) and see your conversion rate scale along with your revenue.

3. Analyze data

Track your website audience data, you can get important information that could help you facilitate the entire sales process. If you analyze who visits your page, what raises interest, what drives people away, as well as numerous other information, you’ll have all it takes to craft optimal sales offers. Different prospects have different needs which you have to consider before making an offer.

4. Survey

Make your priority assignment to learn about the issues your prospects are dealing with. Send out a survey that focuses on business issues your potential customers are facing. This will help you develop a presentation that will aim those issues and fix them. Offering an affordable and simple to apply solution is the quickest way of making a sale.

5. Avoid cold calling

According to statistics, only 2.5 percent of cold calls end up with a successful sale. This is not the only issue that comes from this “strategy”, often cold call recipients block your number and destroy any chance of future interactions. Cold emailing can also earn you a place in the spam folder or Google’s blacklist. Always contact those people that permitted you to contact them.

6. Offer money-back guarantee

If you’re not a highly reputable brand but a startup just trying to find your place on the market, make sure you gain people’s trust. `Offer refunds when placing an offer to assure the other side that you’re not interested in robbing them but providing a valuable product or service` – says Linda Audley, the sales specialist at the HR management software. 

7. Offer testimonials

Let your previous clients speak for you. Place a few customer feedbacks or success stories on your landing page to let the newcomers know how you helped other people. Contact previous clients and ask them for a few words on how you helped them in their endeavors. 

8. Ask for contact

It might seem like a pushy strategy, but asking people to opt-in for your emails is the best way to create and convert sales leads. Just make sure your opt-in box is simple and doesn’t require more information than you need. Sometimes, business name and email are all it takes and you can research further to learn more about each contact on your list.

9. Connect PPC ads with appropriate landing pages

If you’re into PPC ads, make sure that when a person clicks on your ad, it takes them directly to the product sale page. This page should include essential product info and a visible purchase button. This way, you’re facilitating the buying process to its full extent. To enhance your ad performance and boost conversion rates, consider using ecommerce PPC management services to optimize your campaigns and create a seamless transition from ads to landing pages.

10. Versatile payment options

Your customers are coming from different backgrounds, which means their manner of doing business might be different than yours. Allowing different payment options is another way to convert leads into clients. Make sure all major credit cards are supported, as well as services like PayPal, Payoneer, and Skrill. Bitcoin and other cryptocurrencies should also be covered.

11. High-quality images

Stock photos or poorly produced images don’t build trust and show a lack of dedication. Use high-quality photos developed especially for your brand to show the audience you’re serious about your business. Your SEO results will also show gratitude if you do this.

12. Provide live chat/call support

Sometimes visitors cancel their decision to buy a product because they have the slightest doubt that could easily be resolved if they only had someone to ask. Sending an email might seem like a daunting task for them, so you have to give them a way to contact you immediately. AI-driven chatbots are a good choice if you don’t wish to hire extra human help.

13. Offer first purchase perks

Include two for the price of one, next purchase discounts, free shipping or some other benefits for every new client. Make sure the visitors understand your offer is only valid for first-time customers.

14. Allow instant purchase

Don’t force people into registering a user account only to make a purchase. You need to make the purchasing process as simple as it can be. Some people might want to keep their info hidden or simply don’t have the time to fill out long registration forms just to buy a widely available product.

15. Raise urgency

Adding a limited offer or including the number of available products in your stock raises urgency according to marketing experts. This helps you drive sales, as people are more eager to buy products if they are on high demand or if there’s a good offer that’s soon to expire.

Conclusion

We hope these small pieces of advice will help you rocket your sales sky-high. Make sure that every addition to your sales strategy is affordable and makes sense for your business. However, remember that the best way to continuously sell a product is to keep improving it.

In this article, we’ll debunk some of the most common myths surrounding Customer Relationship Management (CRM) systems and their use in the sales process. We’ll address misconceptions about CRMs being too complicated, expensive, or only suitable for large corporations, and shed light on the true benefits and capabilities of modern CRM software.

Key Takeaways:

  • CRMs are diverse and tailored to fit different business needs; no two CRMs are exactly the same.
  • CRMs are not just for giant corporations; they are scalable and can benefit businesses of all sizes.
  • CRM systems are not just software; they represent a core philosophy behind a holistic sales strategy.
  • Implementing and learning a CRM doesn’t necessarily take a long time, especially with user-friendly options available.
  • Data security is a top priority for reputable CRM providers, ensuring the safety and integrity of your business data.

The mythology concerning sales

At Teamgate we’ve heard a lot of myths regarding CRMs and the art of selling. The longer we’re in this business the more we notice how these myths seem to grow and proliferate. And when it comes to selling, we’ve learned that myths can damage your business, very seriously.

Here’s the background we’ve discovered. Myths – just like diseases – can be contagious. And dangerous, especially to your intelligence.

For example: Bats can see. Angry bulls don’t particularly care whether the shirt you’re wearing is green, or red. A vomitorium was not a place where Romans went to be sick. And yes, lighting does strike the same place twice – New York’s Empire State building gets hit over 100 times every year. See what I mean?

It’s the same in the world of sales, myths are everywhere.

For some reason sales CRM software has spawned a hell of a lot more myths than any other area of the selling process. Is that just because people are afraid of change, and making excuses to avoid that change causes myths to be born?

At Teamgate we’re always curious, so let’s take a closer look.

Mythbusting attitudes

Myths surrounding sales CRMs are keeping a lot of smart salespeople rooted in the dark ages, and robbing them of the chance to sell smarter.

Some sales professionals have the notion that CRMs are all the same, that they are expensive, that will make life more difficult, that they impinge on personal lives by monitoring employees, and, some doggedly believe that the old ways are still the best ways.

If the dark ages are where you want your sales team to be – trapped in mounds of paperwork; keeping track of contacts and meetings in your head; managing endless incomprehensible spreadsheets; and missing vital calls and meetings – by all means listen to those myths.

But, if you want to stay at the top of the selling game we’ve compiled a list of some of the myths you should avoid like the plague.

1. One CRM is like another

No, they are not! CRMs are different – and diverse – for one simple reason; no two companies are the same.

With that in mind, there is no one CRM which can fit the needs of every single company. There are as many influencing variables as there are CRMs on the vendor’s shelves; price, features, mobility, in-house, cloud-based, etc.

That’s why when setting out on the path to choose a CRM for your business, you really need to understand the problems which you want to resolve. Only then can you choose the right CRM, suited for your exact needs, and capable of resolving your problems.

2. CRMs are only for giant corporations

Yeah, sure! And Einstein flunked math…

A really top-end CRM like Teamgate – along with many others, are designed with user scalability in mind. Businesses tend to start small, successful ones grow, and really successful ones can even turn into giant corporations, but the CRM employed from day one should be able to handle that growth seamlessly.

The idea of choosing a CRM, “because everyone else is using it”, or “because it’s cheap” is a certain path to disaster. To put it simply, choose the CRM solution that’s right for your business, answering all your questions, and able to scale along with your business.

3. Only sales people use CRMs

OK, so let’s go back to the previous topic for a moment. If your sales process is a holistic one – involving all departments of your business in the sales process – then your CRM is part of that journey for everyone involved in that process.

Not just sales, but marketing and customer excellence teams can reap the rewards of really smartly designed CRM software.

Every department involved in the sales process need to be closely aligned, with your CRM as the backbone of that alignment.

4. CRM is nothing more than software

Wash your mouth out with soap! CRM (Customer Relationship Management) is not just software, CRM is the core philosophy behind your whole sales strategy – or at least it should be.

The idea behind CRM is the notion that selling alone is no longer good enough, the process should be a journey entered into by the buyer and the seller, and one which offers positive returns and benefits to both parties.

The CRM business strategy endeavours to increase sales, at the same time as optimising customer value and satisfaction. The customer has needs and concerns, and the job of your sales team is to listen, identify, and resolve those needs. CRM software, like Teamgate, is an integral part of that CRM philosophy.

5. A CRM is going to take forever to implement and learn – and it’s going to be expensive

No new process is ever so easy that it doesn’t take a little getting used to. And that stands for CRMs too. However, if you’ve done your homework astutely, then all of your questions concerning implementation should have already been answered.

For example, Teamgate provide a dedicated customer experience to make your initial choice, and your transition as smooth as possible. They even offer advice on the problems you may face when onboarding a CRM for the first time; staff reaction and acceptance, training courses, one-to-one Q&A sessions, and any other queries which may arise.

And as to the question of expense, with three different levels of functionality to choose from, prices are suited to match your individual needs, and the size of your company.

(And by the way, the Great Wall of China is not visible with the naked eye from the surface of the moon)

6. A CRM takes too much time to input all that sales data

The myths don’t come much bigger than this one (except maybe the one which says that George Washington had wooden teeth).

Time-saving is the one main feature of a great CRM. With just such a CRM system in place, you can capture already optimised leads, reach your sales targets, monitor employee productivity, analyse sales patterns and produce detailed reports, far easier, and faster than ever before.

Using nothing more than your website, and your CRM, you can automatically source and gather only those valuable leads which are important to you. Once you’ve found those leads they can be collected, stored, and organised just how you want them, within your CRM.

Plus, every stage of the sales pipeline is far easier managed from within your CRM; creating events, scheduling meetings, generating and analysing email campaigns, global searching, scoring leads, setting sales goals, and so much more.

(Oh, by the way – George Washington’s teeth were made from gold, hippopotamus ivory, lead and animal teeth)

7. I’ll never learn that – CRMs are too complicated

Think about the process behind riding a bicycle. Complicated right? But somehow, you learned how to do it.

Once again, if you’ve chosen the wrong CRM for your business, this myth might, in fact, be true. A badly designed CRM can have you feeling right out of your league, an in the water way over your head.

But if you’ve chosen a CRM like Teamgate let me congratulate you now. Teamgate sales CRM has been awarded – get this – the Number 1 spot on the Capterra Top 20 Most User-Friendly CRM Software Report, two years in a row. Enough said.

8. Look out! CRMs have a lot of hidden costs once you’re hooked

Let’s make this one short. If you’ve chosen badly – whether it’s a CRM, a hot-dog, or a new car – there may always be hidden costs. So, just make sure you’ve asked all the right questions, from all the right people, and are satisfied with the answers.

9. CRM is like a spy watching over the company employees

Yes, a CRM does track sales people’s activities. It can even monitor if sales reps are making or flunking their sales targets. They can also analyse exactly where mistakes are being made and sales are being lost.

But, here’s the good news, they can also detail how the mistakes might be resolved, and help reduce the number of lost sales. Does that mean more money for you?

An intelligent CRM – like Teamgate – provides sales managers, and sales teams, quality sales insights with accurate, up-to-the-minute sales forecasting abilities. This remarkable power, built up from past sales experiences, helps you to shorten sales cycles, increase revenue, and remove all those time-consuming tasks from your sales process, giving you more time to do what you do best – sell

10. Everyone will steal your data from a CRM

If you’ve bought your CRM for $5 from a guy in a dark alleyway, there’s a very good chance that your data will be stolen.

Good CRM suppliers realise the importance and integrity of your business data and are constantly engaged in maintaining and evolving security features.

Teamgate is one such company, with a dedicated team in place ensuring the integrity and security of the lifeblood of your business; your data.

With data being stored in multiple highly secure environments, with a consistent uptime of over 99.5%, in the highly unlikely event of a major security incident, your data will be still available from another secure server location.

Data backups are performed daily – one or two times – depending on your chosen CRM plan, and all data is backed up for a minimum of one week, meaning total restoration is almost always possible.

Teamgate also provides and maintain highly stable and secure connections; firewalls and intruder detection systems; system integrity protection; and performs ever-evolving updates to the operating system.

CRM Myths Debunked Infographic by Teamgate

So, myth busted. Your data is safe with Teamgate.

The myths are dead, long live the truth

Now that we’ve put paid to many common CRM myths, here’s a couple of truths to keep you on your toes:

  • No, your new CRM won’t turn your startup business into a global phenomenon overnight – but it will set you on the right path.
  • Make sure you really question why your business needs a CRM, and investigate the problems which you need to resolve. If you know the questions, you’ll find it a lot easier to discover the CRM that’s just right for you.
  • Your CRM software is just a part of an overall business strategy. Make sure that your CRM is fully aligned with that strategy.
  • The most expensive CRM isn’t necessarily the best CRM.
  • And finally, don’t believe everything you hear. If you need advice, ask the experts like Teamgate, a free trial, or online tutorial will help answer all your questions. 

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