Gauge Customer Commitment
Not unlike the logic behind a Credit Score, it pays off to have a formula that gauges and monitors the level of customer commitment. This might seem obvious, but commitment is often misconstrued somewhere between your splatter of features and benefits and the ensuing oohs and ahhs from the client. So it is vital to know and manage the difference between being simply involved in the selling process, and the customer being committed to its success.
One of the biggest gripes or gaps in traditional CRM landscape is the inaccuracy of Sales Projections. The traditional rating schemes ‘Probability % and Stage’ are relatively useless categorizations to define commitment to success.
The real key is evaluating ‘commitment’ at each ‘Stage’ of the sales process and not just the sales opportunity phase. Rather than inserting a Probability % based on little more than your eagerness to wish it so, it is more effective to equate the potential outcome based on the Commitment % Level. This adds an interesting twist, rationale and accuracy when commitment levels equate to a level of certainty (probability).
MosaicCRM Experts Tips
So many factors affect the transition from the prospect to customer that they seemingly appear beyond control. In reality, many CRM selling processes simply lack a structured and regularly timed commitment report card. Here are a few examples of info fields you can add to CRM to back up your Commitment rationale:
- Project Finalized (or not)
- Budget in place (or not)
- Valid change prompting need
- Prime business application for product (or not)
- Clear competitive advantage is…
Triangulation is the process of determining the location of a point by measuring angles to it from known points at either end. In MosaicCRM terms, triangulation is the process of determining the points that make up individual pipeline opportunities and its ability to hone in on opportunities that have a high probability e.g. commitment to close. Click on the image to view how Pipeline Triangulation works.
Commitment Separates You from the Competition
Meet a Marine and you begin to recognize the character of people deeply committed to something. Their exuberance is contagious. It’s no wonder why. They did more than just join the Marines they have now become Marines. Their level of commitment is expressed as total and only total excellence is the goal.
Their example is a reminder how just how important it is to be committed because customers sense a superior and sincere level of commitment every time. It’s often the one and only thing that separates you from the competition.