Demand generation: it’s how you drum up interest in your products. Separate from lead generation, this strategy is intended to build awareness and demonstrate the need for your product to create a buzz around it.
Customer relationship management (CRM) is a platform designed for the organization and management of potential and current customers. CRM helps businesses maintain and improve customer relationships by collecting information about each interaction customers have with an organization. The goal of CRM is customer retention and growth.
Customer portals effectively merge technology with self-service support so consumers can find the information they need to manage their subscriptions, place orders, and solve common product issues on their own. We've already experienced a transition in the buyer's journey to self-research before turning to sales, so it should come as no surprise that customers want to be self-sufficient once they make a purchase. Customer portals, accessed through your company website, help you provide the experience they're looking for and take some workload off your customer service team.
Marketing automation is using technology that manages your marketing processes, including multifunctional campaigns and multiple channels, in an automated fashion. But how does it work? Is it difficult to use? Let's take a look at some of the basics.
Businesses today are faced with wildly different expectations than they once were. Consumers are demanding faster response times (in most cases they expect a response within the hour) and want to be able to find answers as quickly as they can type them into a search bar. Businesses need to have solid content spread across a wide variety of channels. Failing to keep up with any channel where your target audience spends time is like forgetting to hang up the “open” sign in your store. If you aren’t visibly available, why will people be drawn to show up?
B2B sales tactics are changing quickly, and the tools are changing just as fast to keep pace. While many sales teams have changed to using CRM software to support customer data, it isn’t enough to provide the sales teams with fast research tools. Current prospects and leads are often looking for quick quotes and product details. For many B2B companies, getting a fast and accurate quote is a big part of sealing the deal. If the interested business contact can’t get answers from your team, they will get them from a competitor. A CPQ engine can support your sales team as a tool for providing automated quotes.
Companies depend on reliable partnerships. The right Partnership Relationship Management (PRM) software can streamline collaboration with business partners, including contractors, vendors, sales teams, resellers, and distributors. Optimizing relationships is a great thing, but it can be hard to assign a dollar value. PRM software doesn't close new business or form the partnerships in the first place. It does, however, cost money. Upper management or shareholders might want to know what return they are getting on their investment in this solution.
To keep business afloat, you need to make sure your dealers and distributor partners are satisfied with your services. One of the easiest ways to maintain this satisfaction is to enact Partner Relationship Management (PRM). According to Techopedia, PRM is defined as “a business process by which an organization incorporates policies, procedures and methodologies to deliver, manage and maintain its relationships with external business partners.”