Our Manufacturing Vertical Lead David Morley has over 30 years of manufacturing experience focused on driving sales and identifying organic areas of growth in both Private Equity and publicly traded corporations.
As an early adopter of Salesforce, David has driven growth with the Salesforce platform in seven different businesses since 2005.
Leading Rainmaker’s efforts in delivering thought leadership related to Salesforce’s value in the manufacturing industry, David and his team have developed a comprehensive framework called “Rainmaker Strategic Deployment” (RSD).
RSD outlines the key tenets of a manufacturing business focused on growth, and aligns best practices on how Salesforce can facilitate that growth.
Want to Find Out More?
Drop us a line if you would like to learn more about RSD or any of our Manufacturing Solutions.
Our latest whitepaper, entitled “Minimizing Slow-Moving Inventory” is available for download.
Your Comprehensive Guide to Salesforce Data Management When it comes to making the best use of any CRM solution, data management is key. This is especially true with Salesforce, which offers a variety of tools for storing, managing, and analyzing your CRM and related data. How can you use Salesforce data management to find out more about your customers, deliver a more supportive user experience, and improve the effectiveness of your sales force? Read on to learn more. What is Salesforce Data Management? Salesforce data management is a data-driven approach to CRM strategy. It involves organizing and analyzing all the data you have about your company's current customers and active prospects, with the goal of having your marketing and sales teams use that data to build better and more effective customer relationships. The data you collect must be as accurate and up-to-date as possible. This data can include everything from basic contact information to information about each contact's company, the industry they're in, and their sales history. Salesforce data management, when done right, will not only highlight sales opportunities but also help you make better decisions about the future of your business. You use the data gathered to improve relationships with your customers, increase customer retention, and drive sales. The more you know about your customers, the better you can create targeted marketing campaigns, optimize sales territories, encourage incremental sales from existing customers, and improve ROI. It's all about getting the best data and making the best use of it. What Are the Five Steps of Effective Salesforce Data Management? There are five key steps necessary for effective Salesforce data management. They are, in order: Import data relevant to your CRM processes Optimize your system for large data volumes Integrate non-CRM data into your system Archive your data Manage and analyze your data to drive ongoing quality We'll examine each step in detail. 1. Import CRM-Relevant Data Your organization possesses reams of data about your customers, products, and services. Much of this data is important to CRM, but not all of it is. You can overwhelm your system with too much irrelevant data, so it's important to identify the data you own that is most important to your business needs. What data is more relevant to Salesforce data management? The following data types are most useful in CRM: Contact information, including demographic and biographical information Data specifically used by the Salesforce platform, especially that used to generate reports and dashboards Data that drives your organization's daily operations Selecting the right data to import – and triaging less-important data – will reduce data clutter in your system, improve the experience for your users, and potentially reduce your cost of operations. 2. Optimize for Large Data Volumes Organizations that generate huge amounts of data have special needs in regard to CRM data management. A large data volume (LDV) is one that contains literally millions of records. LDVs can slow down performance, and they require special tools to manage. If your CRM
How to Improve Your Quote to Cash Process & Maximize Efficiency Successful businesses aren’t just good at making sales. They’re masters at closing them. The difference is more than one of nomenclature. Success is often the result of a streamlined software-enabled quote to cash process. Sales aren’t closed when you funnel a lead into a prospect that agrees to terms. Agreement is merely another step in the customer journey. There is still plenty of opportunity for your prospect to climb out of the sales funnel and go somewhere else. Sales are closed once you’ve received payment and allocated the funds. Quote to Cash (QTC) represents the final stage of the sales funnel. Quote to cash automation using an integrated, CRM-software solution, will help make sure your business maximizes sales and value from your customers. What Exactly is the Quote to Cash (QTC) Process? The quote to cash process is more complex than the name implies. It starts with a quote and preferably does not end upon payment. The process unfolds as follows, regardless of automation. 1. Deliver a Quote The first step is to create an offer and quote meeting a prospect’s service needs and expectations at an affordable – and profitable – price point. The quote needs to be double-checked for detail and accuracy. 2. Draft a Proposal and Reach Agreement Quote accepted, you must formalize the offer via proposal or contract. Proposal drafting needs to be thorough. Perfectly formatted proposals avoid the opportunity for a prospect to raise questions, objections, or haggle over typos. The stage ends when the prospect signs the agreement and becomes a customer. 3. Process Order and Invoice Process the order or provide the services you promised in the agreement and invoice the client. 4. Receive Payment and Allocate Make sure you receive payment. Then allocate the funds to the appropriate parties, including internal and external partners. 5. Analyze Data and Look for Upselling Opportunities The first four stages should be done by default. The fifth stage is where companies can increase value and efficiency in the future. Analyze your QTC process for the sale, in conjunction with others, to look for new opportunities. You may find upselling prospects for a certain product during the quote phase is an option, for example. Keep in mind the quote to cash process is cyclical. Successful businesses integrate step five to eliminate inefficiencies and add value to future transactions. The most efficient upgrade any business can make is to automate and streamline the entire QTC process with QTC-enabled software. Why You Need to Find a QTC Software Solution Manually digitizing paper invoices and contracts is no longer enough for businesses to stay competitive. Software and data-enhanced automation across all five steps of QTC allows for efficiency, quick turnaround, and a consistent QTC process, benefiting sales teams and customers alike. The difference is measurable. According to Salesforce, companies using their Configure, Price, and Quote (CPQ) app were able to deliver quotes to prospects up to 80% faster
Three Steps to Salesforce Implementation Salesforce implementation can almost certainly help your company improve efficiency somewhere, if not across the board. Salesforce is now used by thousands of companies around the world to enhance a full gamut of business operations, including: Marketing automation Sales pipelines Inventory tracking Partner management Customer portals And many more Many companies – perhaps yours – haven’t implemented Salesforce into their operations yet. Understandable. Migrating certain processes from your current CRM to Salesforce can seem daunting. Nonetheless, the benefits almost always outweigh the costs. Planning ahead and working with a Salesforce consulting partner can increase annual revenue by an average of 37%. Fortunately, with nearly 20 years of experience implementing Salesforce, we’ve seen the mistakes made by 100s of companies, and they can be avoided. We’ve broken down Salesforce implementation best practices into a hop, skip, and jump. (Or in MBA speak: a three-step process.) Step One: Evaluate and Document Your Teams’ Processes Salesforce implementation is never a homogenous endeavor. Salesforce is both robust and modular. Its innate flexibility can be tailored to your company’s specific needs – keyword being specific. The first step is to map out your teams’ current processes and data requirements. Determine what processes work well and which processes have proven efficient. Identify your teams’ pain points or where they could benefit from automation. Analyze the intelligence and deliverables expected from these processes. Are your teams meeting these expectations? If not, now is the time to plan how these processes can be more efficient and document how Salesforce can help. At this point, you’re ready to choose one of two team-based implementation strategies. Strategy One: Implement Your Existing Business Processes in Salesforce If your current CRM works well for a particular group, this strategy may be best. Hire a Salesforce consulting partner to build out your teams’ current business processes and databases into Salesforce. Salesforce is extremely customizable and has robust APIs to meet all kinds of needs. It’s unlikely any major modifications to existing operations or internal processes will be needed if your teams are already working efficiently. The key is to tailor the system to work the way your teams already work, and automate what can be made more efficient. If anything, lack of Salesforce training would be the main issue. Training is addressed in Step Three below. Strategy Two: Re-engineer and Enable Business Processes in Salesforce Of course, some workgroups will experience inefficiencies and subpar performance due to their current workflows. In such cases, Salesforce implementation allows you to reinvent and improve these processes. There are two ways to do this. Use Salesforce recommendations: The simplest solution is to take an existing workflow and convert it to align with Salesforce’s default recommendations, with some tailoring to make it suit your circumstance. Salesforce defaults often work very well out of the box, because they are based on incredible amounts of business data. You can iteratively customize these defaults to suit your exact needs over time. Build a new system