Sales, Distribution & Technology€¦ · Benefits, Must Haves & Lessons Learned for Successful CRM...
Transcript of Sales, Distribution & Technology€¦ · Benefits, Must Haves & Lessons Learned for Successful CRM...
Sales, Distribution & Technology
Benefits, Must-Haves and Lesson Learned of a Successful CRM SystemSuccessful CRM System
View points provided from a Distributor, p pCarrier and Solution Provider’s perspective
Sales, Distribution & Technology
CRM A Distributor’s Perspective
Kensington Schmidt
SIA Companies - founded 1979
• Started selling “Nursing Home Policies,” a product no one had ever heard ofp
• But….business escalated quickly to 3 states• In 1983 purchased first computer• In 1983, purchased first computer• At first, basically just a file cabinet for clients
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Logical progression to build our own
• We were designing, printing, and mailing leads for our agents
• Even with an amazing 12% return at the time, costs were exorbitant & increasing
• We needed to track agent info – and success ratio – to get to a solid bottom linesuccess a o o ge o a so d bo o e
• Necessity was truly the Mother of Invention for us because no one had CRM for LTCfor us, because no one had CRM for LTC
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Expected benefits of building CRM?
• SIA’s home office has always been in ND• We didn’t have the benefit of locationWe didn t have the benefit of location• SIA needed to deliver more just to
compete on a Distributor levelcompete on a Distributor level– Speed, accuracy, efficiency, reporting became
our hallmarkour hallmark
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Obstacles to building our own CRM?• Computers ran in DOS – not user friendly• Consultants were continually needed for the
most basic of functions• Insurance companies focused any IT su a ce co pa es ocused a y
resources solely on Life Industry• SIA added states so quickly we couldn’t wait• SIA added states so quickly we couldn t wait• For years, we retained services from 3
different consulting firms to meet our needsdifferent consulting firms to meet our needs
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Obstacles to building our own CRM?
• But Consultants have other clients• And let’s face it,
entrepreneurs are not patient people• Strategic decision to hire our own programmers• In 2010, SIA Technologies became
the newest of The SIA Companies
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Programmers + Agents
• Company policy has always required that every employee be a licensed agenty p y g
• But not Programmers, right?• Who does that?• Who does that?• We do. • Our Programmers obtain & maintain licenses• Result: SIA can truly say y y
“Our Technology is built by Agents, for Agents”
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g
Advice for User Adoption?
• Build a culture of change• Empower & incentivize employees toEmpower & incentivize employees to
seek & demand tech-based solutions to mundane repetitive tasksmundane, repetitive tasks
• Believe that “everything matters” & come to work every day seeking newer betterwork every day seeking newer, better answers
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Examples of CRM benefiting SIA?
• Streamlined communications• Tracking/reporting every activity
– Agent touches, App & Status touches– Date stamps on actions by SIA/Agents/Carriers– Tracking Quote Requests & turning them into
Birthday Leads• Higher Issue Rates + Lower Costs• Higher Issue Rates + Lower Costs• Greater contributions to Carrier Relationships• High level HIPAA compliance• High level HIPAA compliance
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Key Take-Aways from SIA1. Make a significant, continual investment in
technology at the highest level of your organization
a) Be vigilant, don’t start process & walk awayb) Whatever you think it will cost, double itc) Don’t see it as an expense, but an investment
that must deliver solid, tangible return
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Key Take-Aways from SIA
2. Do your research before buying/building.a) Ask questions, check references & experiencea) s ques o s, c ec e e e ces & e pe e ceb) Beware piecemeal approaches that can’t/won’t
integrate across the sales cycleg yc) Plan/build software that can meet your needs for
today & tomorrow
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Key Take-Aways from SIA3. Build a Culture of Change to support IT efforts
a) Fresh, new ideas/demands = continued successb) Incentivize & reward your employees for IT ideasc) Henry Ford’s vision of empowering every worker
th bl li till li t don the assembly line still applies today…it’s the heart of fresh, new technology &the core of tomorrow’s Long Term Care industrythe core of tomorrow s Long Term Care industry
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Sales, Distribution & Technology
A Carriers Perspective
Heather AdkinsHeather AdkinsAVP, Digital Marketing & eSolutions
Transamerica BrokerageTransamerica Brokerage
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Benefits
Happier Sales Team • Prioritize work• Better understand customers• Connect with internal experts p
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Benefits
Alignment of Efforts• Focus on the customers who matter most
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Benefits
Management Visibility
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Benefits
Improved Engagement• Connect Sales & MarketingConnect Sales & Marketing
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Benefits
Quantify Our Efforts • Allocating resources to the right customersg g
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ChallengesChallenges
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Challenges
Resources
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Challenges
Subject Matter Experts
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Challenges
Data Data
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Selecting a SolutionSelecting a Solution
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Selecting a Solution
Not Just a Tool, Not Just a Tool, But a BusinessBut a BusinessBut a Business But a Business Partner Partner
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Selecting a Solution
Business Requirements
“As many as 85% of companies that buy CRM software to
automate sales effortsautomate sales efforts don’t pick the right tools
because they fail to define business bj ti d l fobjectives or develop processes for
meeting objectives.”- Gartner Analyst Robert DeSisto
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Selecting a Solution
Go Agile
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Selecting a Solution
Consider Other Tools You Want to Integrate
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Selecting a Solution
Rollout in Phases Rollout in Phases
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User AdoptionOh, They Actually Have To Use It?
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User Adoption
Starts atStarts at the Topthe Top
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User Adoption
Understand What Your Sales Team Understand What Your Sales Team NeedsNeeds––and What They Don’tand What They Don’t
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User Adoption
Make It Fun
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User Adoption
Find Your “Cool Kids”
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User Adoption
CommunicationWhat’s going on?
CommunicationWhat’s going on?What s going on?What s going on?
VS
Training How do I ?Training
How do I ?How do I…?How do I…?
VS
Education Oh that’s useful!
Education Oh that’s useful!
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Oh, that s useful!Oh, that s useful!
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Lessons Learned
User = OwnerUser = Owner
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Lessons Learned
Only Measure What You Want to Improve
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Lessons Learned
Commitment
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Thank You
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Sales, Distribution & Technology
A Solution Provider’s PerspectiveA Solution Provider s Perspective
Laura D’AnnaiPipeline
CRM that speaks insurance
• iPipeline CRM Product philosophy– CRM for DistributorsC o s bu o s– CRM for Carriers
• Build products on CRM platformsFocus on insurance– Focus on insurance
– Leverage app marketplacesiPi li b fit– iPipeline benefits
– Our customers benefit
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The Best Strategy
• HAVE ONE!
• Choose an engaged owner & adminChoose an engaged owner & admin
E t bli h l & i bj ti• Establish clear & concise objectives
• Acknowledge it’s not one ‘n done
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Adoption Motivators
• Build around current/favorite tools today
• One great dashboard that talks user
• Provide one easy win
• Address a major pain point
• Gamify
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Gamify
Extend and Expand
• Collaboration Tools
• Marketing Automation
• Lead management
• Proposal generation
• Social Media Integration
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Social Media Integration
Beware of Landmines
• Generic CRM with no insurance smarts
• Lack of strategy, known objectives
• Inappropriate training
• Value prop limited to select usersp p
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Customer Success Story
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Don’t forget
• Own it!
• Iterate and adjust, again and again
• Listen and respond
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