Optimizing Lead Scoring with NetSuite CRM

Optimizing Lead Scoring with NetSuite CRM

NetSuite’s comprehensive suite of applications, designed to streamline business processes across various departments, is highly valued by financial, professional services, and operational teams. Many organizations further leverage the platform’s integrated customer relationship management (CRM) system, recognizing its additional benefits, particularly in optimizing NetSuite CRM.

Users of NetSuite CRM enjoy its flexibility and robust features, which enhance customer self-service, foster collaboration among remote teams, and improve customer segmentation through advanced lead scoring. These capabilities collectively boost productivity and operational efficiency.

NetSuite CRM Thrives as Employees Go Remote

When the COVID-19 pandemic hit and employees transitioned to remote work, many businesses found a lifeline in NetSuite CRM. Depatie Fluid Power Co., an industrial design and distribution company based in Kalamazoo, Michigan, faced a significant challenge in maintaining customer interactions.

“We’re a B2B company, so expecting customers to physically sign documents became a problem,” explained Ryan Thomas, the group manager. “This separation from customers pushed us to develop a new communication strategy that could be shared across our organization.”

To address this, Depatie developed a mobile app for its customers, allowing them to access NetSuite CRM records, check inventory availability, and track case statuses. This innovation not only improved customer communication but also opened up new opportunities for customer self-service.

“Previously, a paid representative would handle calls and take orders. Now, customers are managing these tasks themselves,” said Thomas. “We leveraged the core CRM features, optimizing NetSuite CRM to fit our business needs.”

NetSuite CRM’s adaptability has proven invaluable, helping businesses like Depatie Fluid Power Co. navigate the challenges of remote work and continue to serve their customers efficiently.

Unlocking New Opportunities with Social Media and CRM Integration

In today’s digital landscape, businesses are increasingly turning to social media to connect with customers. Optimizing NetSuite CRM by integrating social media data has become crucial for understanding and responding to customer behavior and preferences. NetSuite users are leveraging this integration to enhance their customer records and strategies.

“Social media has been a significant shift for us. Our customer base consists largely of farmers who prefer traditional paper communications,” said Shana Rowlette, CFO of Mann Lake Bee and Agricultural Supply in Hackensack, Minnesota.

Mann Lake employs customized links on Facebook and other platforms to track customer traffic sources to their website.

“This enables us to tailor our marketing efforts more effectively,” Rowlette explained. “For instance, if a customer is new, we avoid sending them advanced beekeeping catalogs.”

On Deck Sports, a distributor of baseball and softball equipment based in Braintree, Massachusetts, has experienced substantial growth in their social media presence. “We’ve seen a huge investment in social media and a significant increase in our follower base,” said Jeffrey Bernstein, marketing operations manager. “Our cost per lead has decreased considerably over the past two years, with minimal changes in other areas of the business.”

Mann Lake also found social media to be an effective way to reach customers inundated with email marketing.

“Our marketing team discovered that during the pandemic, everyone’s inbox was flooded with marketing emails and coupon codes,” Rowlette noted. “While it’s possible to create a compelling email campaign, customers are likely receiving dozens of similar emails each day. Social media emerged as a powerful alternative.”

By integrating social media data with their CRM systems, businesses like Mann Lake and On Deck Sports are not only improving their marketing strategies but also opening new avenues for customer engagement and lead generation. This approach ensures they remain agile and responsive in a rapidly evolving digital environment.

Lead Scoring and Segmentation Enhance Customer Retention

Many NetSuite CRM users are leveraging lead scoring and customer segmentation within their CRM systems to significantly boost customer retention.

“Optimizing NetSuite CRM tools is invaluable for various applications,” said Jeffrey Bernstein, marketing operations manager at On Deck Sports. “They activate drip campaigns featuring product installation guides and customer testimonials. Our outbound program has experienced tremendous growth. In the past four to five years, we’ve increased our retention rate in one segment from 20% to 78%. Building these relationships through our sales reps has been transformative.”

Mann Lake Bee and Agricultural Supply employs NetSuite to distinguish between commercial beekeepers and backyard hobbyists.

“Our sales staff immediately recognizes when they’re dealing with a commercial beekeeper who spends thousands of dollars with us,” explained Shana Rowlette, CFO of Mann Lake. “This allows us to route the customer to the appropriate representative, preventing frustration. This system is particularly beneficial for less experienced sales staff who might not fully grasp the nuances and needs of different customer segments.”

By implementing effective lead scoring and segmentation strategies, businesses like On Deck Sports and Mann Lake are not only improving customer retention but also enhancing their overall customer service and satisfaction. This approach ensures targeted, efficient interactions, leading to stronger customer relationships and increased loyalty.

Convincing the Sales Team of CRM’s Advantages

The success of any CRM project, whether it’s integrated within a unified suite or operates as a standalone system, hinges on the active participation of the sales staff. Addressing this factor from the outset is crucial for effective implementation.

Depatie Fluid Power Co. has adopted an innovative approach to incentivize CRM adoption among its sales team. The company offers extra commission margins for any opportunity processed through the CRM system and successfully closed by a sales representative.

“We recognize new business when it’s qualified through the CRM and converted into revenue,” explained Ryan Thomas, group manager at Depatie. “Instead of relying on traditional transactions and calculating commissions based on quotes, we’ve leveraged this strategy to engage our teams with the CRM.”

This approach not only encourages the use of the CRM system but also ensures that sales reps see direct benefits from their engagement, leading to more consistent and effective utilization of the software. By aligning commissions with CRM adoption, businesses can drive better integration and ultimately enhance their overall sales processes.

Differentiating Your Business with Unified CRM and Financials

NetSuite CRM users, despite being at varying stages of adoption, unanimously acknowledge its substantial value. Many evaluated alternatives like Salesforce.com before choosing NetSuite’s CRM. Depatie Fluid Power Co. even switched back to NetSuite after initially trying Salesforce.com.

“We needed more than just a CRM; we needed seamless execution,” said Ryan Thomas, group manager at Depatie. “Our sales team initially requested Salesforce. We asked them, ‘Do you really want another system? Do those features justify managing two systems?’ Implementing NetSuite CRM felt like a logical and gradual step forward. NetSuite enables us to better manage customer relationships.”

Mann Lake Bee and Agricultural Supply, a smaller organization, took a cautious approach when adopting NetSuite.

“We weren’t transitioning from a previous system and didn’t want to overcomplicate things from the start,” explained Shana Rowlette, CFO of Mann Lake. “We collaborated closely with sales managers and departments to identify the key information we needed. We ensured the sales team understood why we were implementing these features and how they benefit both the team and the company.”

By integrating CRM with financials, businesses like Depatie and Mann Lake can streamline operations, improve customer relationship management, and ultimately set themselves apart in a competitive market. This unified approach not only enhances efficiency but also fosters a deeper understanding and better control of customer interactions.

Optimizing Lead Scoring with NetSuite CRM
Article Name
Optimizing Lead Scoring with NetSuite CRM
Learn how businesses optimizing NetSuite CRM and lead management with unified CRM and financial systems, enhancing customer relationships and streamlining operations.
Publisher Name
ABJ Cloud Solutions
Publisher Logo