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What follows are notes from and interview I had with Marcio Saito, President of CoffeeBean Technology.
WHAT IS COFFEEBEAN TECHNOLOGY?
  • Often described as Social CRM, CoffeeBean prefers to be known as a social business sales and marketing tool.  Click here for an explanation
  • CoffeeBean allows your business to change it’s customer relationships from a segmented relationship model to a more social relationship model
  • Coffee bean understands that managemnet needs data, but this system is used to help sales people to help them sell.  As the staff uses the system both sales data and social data is recorded in real time.  This information can be used to create analytics needed for management, but also real time data about relationships that help sales people.
  • A traditional CRM system is built to store transactional data ie. your contact’s information & historical sales data which helps managers analyse their business more than they help sales people understand their customers and therefore sell their product.  Normally data is manually entered by sales staff upon request of the management.  With CoffeeBean, the information comes to you NOT just from you.
  • personal note: these types of traditional CRM systems are a only as good as the information that is entered.  Garbage in, gets garbage out
  • Coffeebean’s goal isn’t to provide an analytical system, but to provide a tool that helps sales people sell more.   CoffeeBean does allow you to generate the same reports as a traditional CRM system.  The main difference is that your contact’s data is updated in real time as soon as they update their information from
    • Linkedin
    • company Facebook Pages
    • Twitter
    • Google Maps
  • Today, lots of business information is not stored on your computer hard drive, it’s online.
  • Social business isn’t a new business model.  What is new is that technology allows your connections to be scalable through social media.

 

HOW THE USER EXPERIENCE CHANGES

  • This system can be described in one word…Connected.
    • All people in the organization are connected to a client and the information about this client flows between departments rather than up from one data entry point
    • Secondly, all people in the organization are connected to the client’s own updates
  • The focus of this product is on client relationships, not just on the segmented departmental activity with a client.
  • It allows for collaboration between departments to serve a customer ie. finance, sales, marketing, customer service, management etc.
  • This tool will allows your team to collaboratively sell.  When a client buys a product from the sales department, every other linked department knows about it instantly.  The customer becomes the central focal point of the system and as soon as they interact with any department, all other departments in your organization are updated.
  • It used to be that we’d set follow up appointments with clients every 3-6 months.  In between meetings, there could be a number of changes with clients that I’d find out about once we reconnected 3- 6 months from now.  With a social sales system, I’ll know about every change with a client as soon as they update their own profiles.  Information such as the following will be sent to me
    • client was promoted
    • address changed
    • they updated photos for their location
    • blog post announcements about changes or new products for their company

 

HOW THIS IMPROVES THE CUSTOMER EXPERIENCE

  • the customer feels that no matter which department they interact with, they are understood.
  • personal note: have you ever had an issue with a company and had to explain yourself to the sales guy, then the sales manager, then the customer service department, then the manager (again) etc…it’s so frustrating
  • the customer feels that when they talk to a business, the business knows who they are

 

COMPARED TO A TRADITIONAL CRM SYSTEM, WHAT STAYS THE SAME?

  • Outlook email integration
  • Outlook calendar integration
  • manually input sales data
  • sales reports and analysis
  • intra-departmental commenting about a client
  • proposals attached to a contact’s file (which can be shared between departments)
  • Much of the terminology
    • contacts
    • leads
    • sales
    • opportunities
    • companies
    • projects
    • tickets

 

WHY CHANGE?

  • it used to be that traditional media platforms could reach everyone at the same time.
  • For sales people, it used to be that cold calling was predictable.  You know that by making a X calls, you’d get Y appointments which would lead to Z % of sales.  This was your rate of conversion and you felt comfortable with it.
  • Personal note:
    • How people communicate changes with technology.
      • First communication was as individuals face to face
      • Phones made connecting to individuals easier
      • Mass media made it easier to share information with large groups of people
      • Fax machines allowed us to share documents
      • Computers allowed us to create & store documents digitally.
      • Email allowed us to share those documents online
      • Laptops allow us to bring our digital files with us
      • Cloud storage allows us to store & access our untethered digital files anywhere at any time
      • Social media allows us to share everything ie. contracts, documents, photos, presentations, videos,  audio, ideas, articles, drawings with anyone
      • People make & answer fewer phone calls in favor of faster, quicker forms of communication such as texts, Facebook, Twitter etc.
      • Mobile devices like smartphones allow us to create, share and distribute any information we want, in the format we want, when we want it
  • if you use social channels, you dont use the same sales metrics from a time before computers existed.  You dont need to count the people that are serendipidously making their purchase decision at this very moment, you can measure & monitor the conversations they are having about their intent to purchase
  • In the very near future, CoffeeBean will allow you to
    • search Twitter conversations about your product or industry, without leaving the CoffeeBean system.  This means that you will be able to find and connect with people who are talking right now about the types of products and services that your company offers.
    • measure the level of interaction with a customer
    • measure the level social influence clients have ie. Klout score
    • allow a business to focus on leading sales indicators such as the number of quality client relationships
  • When marketing turns a prospect into a lead, the sales team gets it.  If the sales person doesn’t convert the lead, the marketer should know about this so that they can follow the relationship.

 

WHAT TO EXPECT IF YOU USE COFFEEBEAN

  • you measure things that are more important to your business-customer relationship like engagement, customer satisfaction and happiness
  • the first time you make any contact with a prospect, is never statistically measurable
  • really understanding the person you want to reach before you make the call is the most important part when trying to make a connection.  you need to have developed some kind of
  • in the CoffeeBean system, you can create “update streams” based on the traditional terms like opportunities, leads, companies, projects etc.  Staff can choose to follow only those clients who matter to their duties.
  • this tool doesn’t change people or companies.  this is just technology that will help people change processes if you want to
  • It allows forward thinking companies to connect with forward thinking customers
  • there are no case studies yet, but a number of clients have said they realized how many missed opportunities they had because of segmentation of clients from one department to the next
  • CoffeeBean helps business share information, if your company doesn’t make it easy to share client information, then there are is a good chance that you’re missing opportunities.
  • At least one company using CoffeeBean has had a major change in revenue streams since using this system

 

FOR EXAMPLE

A Car Dealership

New Lead

Rather than entering all the data about this person, once you enter the name, the system looks for that person in social media platforms and as the user, you can verify which of the social media accounts are a match to this customer.  This is a huge time saver for anyone who has used other CRM systems.  Based on this connectivity, I will then know a lot of things about a customer ie. if i liked a youtube video, if I tweeted a location, and lots of times this isn’t relevant to the business I have with you but it does provide me with a social profile about my customer and can help me understand this client.  Without having ever met, I can almost say that I know you.  Because of the linkedin connectivity, you can see information about the company clients work for.  CoffeeBean does support normal CRM tasks such as setting a meeting documenting notes, creating follow up tasks in a very user friendly manner.

Lead Progresses to a Sale

Using CoffeeBean, the salesperson enter the sales information and share immediately with the finance department.  This sales member can follow their client’s relationship and experience as they interact with any department in the company.  Everyone who deals with the customer will be notified.  The customer is the most important element in this system and the whole dealership becomes a support group for this customer.  The customer feels that their speaking to the same company and the company shares information about this customer rather than forcing the customer to share this info with each department of the company.

 

Link here for a free 30 day trial.

 

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