How to generate ROI with a PRM: 3 tips to apply immediately

Let's get straight to the point: You carry out B2B prospecting activities. The aim is to find customers quickly. That means setting up promising first meetings and turning them into good, profitable customers.

Unlike a CRM, a PRM is focused on prospecting. Its objective is to achieve efficiency in prospecting, that is, to be effective (reach your targets) with as little effort as possible.

Calculating the ROI of a PRM must take the following variables into account:

💰 On the investment side

1. The contact management system: acquisition costs, licence, configuration, maintenance
2. Purchasing databases: choosing targets, buying lists, updating data
3. Prospecting time: preparing a call, accessing information about the company, finding the right person to contact, reaching them and exchanging relevant information with them, documenting the results

🔄 On the "returns" side as such

1. The information gathered about markets in order to set priorities
2. The number of meetings obtained per hour of prospecting
3. The number of promising meetings, that is, those that turn into customers within a given time
4. The value of the customers brought in: in turnover or gross margin, over a defined period

Here are our 3 tips to reduce prospecting costs and increase returns:

🗺 Tip 1: Draw a clear line of conduct between marketing and sales

Marketing usually chooses the targets to approach, finds the databases and provides them to the salespeople. With full knowledge of the products and services, the marketing department supplies the messages to get across and the supporting documents. And then the salespeople more or less do things their own way.

What you need to adjust your aim: a 360° view of your market and the results achieved.

Measure your sales team's efforts and results directly with:

• An effective BI tool
• Immediate visibility of your opportunities (prospects, quotes, sales)
• An assessment of the effectiveness and productivity of your prospecting and sales teams
• Optimisation of your sales activities (better targeted)

👥 Tip 2: Invest in people

Beyond recruiting, motivating, training and recognising your prospecting teams, aim to save time and increase productivity.

There's no question of tracking everything in Excel and hoping to convert your leads… That could be a huge waste of time and money.

Investing in people also means providing them with a tool that makes their work easier:

• Systematic contact management based on a proven method
• History of actions and exchanges with prospects/customers
• An overview of the tasks to be carried out (including priority management)
• Organisation and follow-up of meetings
• Reminders and follow-up of your quotes

📞 Tip 3: Choose the right prospecting tool

PHCom Data Management was designed to help you focus your prospecting activities on what really matters, freeing up the time you need to carry out your company's mission with your customers.

Selling and talking to customers: that's what your sales team does best. So why are they spending their time searching for prospects manually?

The PHCom Data Management PRM gives you:

• An integrated database, continuously enriched collaboratively
• More than 115,000 companies listed
• Easy import, export and cross-referencing of files
• A unique algorithm that shows how open a company is to prospecting
• Access to multiple sources of information in a single click

Go and win new customers, without a heavy, expensive management software package to feed!

Phcom Data Management incorporates the best sales management and organisation methods and helps improve your company's performance.

Would you like to arrange an online demo? Book it via this link.