Also, quite surprisingly, Monday and Wednesday are tied at the spot for the second-most productive!
Do you agree with this opinion? Which is the most productive day for you, and why?
Leave us a comment here and tell us.
Get your processes in place, and then you can truly take
advantage of CRM.
It was the theme we kept hearing again and again at the CRM
Evolution Conference in New York City earlier this year. If you’re going to compete, you have to
move beyond just operationalizing your process.
One way to truly improve processes is with more and more
analytics. Each analytic has a story behind it. Why is a certain statistic
going up or down or not changing at all? There’s a reason for that. And what
you’re ultimately trying to do is connect those stories to customers, explains Aaron Cano, VP of Marketing, Operations, and Planning for
FreshDirect, an online grocery store for
fresh produce delivered to your door.
Watch our interview with Cano for more insight on how to
uncover those stories!
Do you ever get bogged down by your software? Is the management
of the software itself becoming more taxing than actually using it for its
At the CRM Evolution Conference in New York City, I got a
chance to chat with Alex Eldridge, Director of Project Management for
who has been taxed with the project
of finding a new CRM solution for the company. They are currently using the
desktop-based CRM/contact management solution, Goldmine.
I chatted with Eldridge about his process of what he is
looking for in a CRM solution. He boiled it all down to these four criteria:
Systems are currently too difficult to manage. There is a major technical debt
of upgrading systems.
Less burdersome change
management: Changes in browsers and operating systems have become a source
knowledge: Instead of locking the understanding of a system into a few
people’s heads, Eldridge is looking for simpler systems for which development
can be extended to the end users. He wants them to be empowered to do more on
Improved quality of data:
Does not want data in different formats where they are out of alignment. Looking to
create greater synchronicity on data.
“Collaborate Live On Unsurpassed Development”
– Mark Brutus Thurman
“Computing Leveraged Online for Users Devices”
– WireSpeed Systems
“Computing Levitated Out of yoUr Desktop
– Emil Chackot
“Computer Located OUtside Datacenter”
“Come-Lets-Organize-Upload-Distribute / Download” – @warriorvibhu
And the funniest of them all…
“Children Like Oranges Upside Down”
– Jack Kerr
Got any other interesting answers to contribute? Leave us a comment here.
You’ve got tons of content, and people are consuming it, but
you’re not talking to them at the point of consumption, which would be the best
time to launch them through your sales pipeline.
At the CRM Evolution Conference in New York City, I chatted
with Kate Leggett, a Senior Analyst with
She covers the area of customer service and call center processes serving
business process professionals.
In our interview, Leggett offered three techniques for
connecting readers of your content with your CRM system:
Authenticate site access:
If you require people to log in to get access to your content, you can see from
their session history the pieces of content they looked at and interacted with.
Pushing a chat box:
If you don’t have someone logged in, you’re going to have to reach out to
connect. If they delay on a content page push a chat box notification and ask
if they have any questions.
Make contact really easy:
Around every piece of content, make connecting via phone, email, or chat
extremely easy and encouraged.
Three or four years ago SMBs were apprehensive with CRM,
said Brent Leary, co-founder and partner of CRM
CRM was comprehensive and complex and it required someone
who could manage servers and software upgrades. SMBs rarely could afford a
dedicated IT expert to install and manage these services. Today it’s far more
accessible and affordable, said Leary.
In addition, traditional CRM was originally seen as needed
for operational reasons, not necessarily to get new customers, Leary mentioned.
With the introduction of social CRM, SMBs are becoming far more interested.
I read the cover story in Forbes on the success of Dropbox, which is set to do about $240 million in sales in 2011, with only 70 employees. As Forbes points out, that is about 3x the revenue per employee of Google, which is no slouch in the revenue per employee department itself. First, congratulations, Dropbox! This is the type of breathtaking number that makes the ordinarily successful companies like, well, Zoho, to wonder “What are we doing wrong?”
In our 15 year history in Zoho Corporation – which is bigger than the Zoho product suite itself – we have shipped over 70 products, of which we would say about 30 have been successful in the sense of being nicely profitable. Yet, even with that group of 30 products, we have seen the 10x effect: a set of two products that have taken approximately the same amount of effort to build, by similarly situated teams, yet one of them does 10x the sales of the other, with both of them being profitable. Of course the 10-bagger is much more profitable but the key point is that both of them could be counted as successful in the sense of being profitable. We have even seen 100x difference for approximately the same effort, but in our case, that is the difference between doing only $100K a year in sales vs $10 million a year, and I would not count that as 100x because the $100K product either grows up or we would eventually discontinue it because it is not profitable.
Dropbox is a logical extension of this phenomenon, where a product does 100x the sales, without taking much more by way of engineering effort than a profitable 1x product. And then the grand daddy of them all – Google search, which in its heyday reached $1 billion in sales, on not much more than the effort of a single engineering team – the headcount gets added later to diversify the company but the original search was a small team. I believe there has only been one Google search so far, so the ordinarily successful (ahem!) shouldn’t feel too bad.
Y Combinator, which has funded over 300 companies so far, is a perfect illustration. All these teams are similarly situated, with similar founder profiles and they all get similar initial funding, and they spend similar initial effort. If we consider only the universe of profitable YC companies, my guess is that so far there is only one 100-bagger i.e Dropbox, in the YC portfolio. Based on Zoho experience, I would estimate YC has about ten 10-baggers, and about fifty one-baggers (i.e just about profitable).
Welcome to the product business, which looks very much like the movie business!