Five Zoho CRM 2020 Updates You Should Know
I’ve been a fan of Zoho CRM since 2016. I was working for a company and they were using SalesforceIQ at the time, and I wasn't super thrilled with some of its capabilities so I asked my boss if I could find another one. He said yes but of course, I would have to get it approved first, Zoho CRM did a lot of what I was looking for and it was significantly more cost-effective. After some selling, I was able to make the switch and since then, I've never wanted to use anything else.
Since then I've switched over a total of 5 companies, 6 is we include Virago Ventures because of course, this is the platform I use. Yes, I am currently a very small team but it’s imperative to implement these processes early for the most effective and efficient growth. When I hire a sales team, they will be able to see everything I've been doing since the start and that is all extremely valuable information for a salesperson.
Zoho recently launched some awesome updates for 2020. Here are 5 updates you need to know about!
#1: Customer Segmentation
Customer segmentation is the process of dividing customers into groups based on common characteristics so companies can market to each group effectively and appropriately. Zoho uses the RFM model (recency, frequency, monetary value) to segment customers. You can use this information to build more targeted marketing campaigns that result in measurable ROI and higher conversion. You can also identify up-selling and cross-selling opportunities, while also improving customer engagement. Evaluate your customers to see who spends the most, who spends more often, and who spends to least and develop a unique strategy around each of those.
#2: Built-in Webforms
I'm a Zoho One customer so I've used Zoho Forms in the past. I love the new update that brings this feature inside the CRM. Easily analyze webforms with statistics based on total leads generated, lead source, and more. Conduct sophisticated A/B testing on your forms, with control over parameters such as traffic and test duration, and identify your best performing forms. See valuable information such as the number of visitors, the number of visitors who start filling out the form, and the number of visitors to complete the form and evaluate those numbers over time.
#3: Cohort and Quadrant Quadrant Analysis
Use cohort analysis to analyze the patterns and trends of your time-sensitive sales processes using metrics like deal conversion time and sales cycle analysis. Use this to visualize your customer retention over the span of a year, deal conversion trends for a particular quarter, and the amount of time taken to close deals for a particular month. Use quadrant analysis to visualize complex data in a consistent, comprehensive framework to identify the areas you need to focus on in your sales process. This will help you uncover various types of correlations with huge amounts of data.
#4: Multiple Sales Pipelines
CEO's and Founders are always asking about the pipeline. "What do we have in the pipeline this month?" You can only answer that if you are actually tracking a pipeline somewhere other than the heads of your sales team. Zoho CRM deal management software gives you everything you need to manage deals across territories and sales structures. If you're dealing with various types of products, territories, or processes, you can now create distinct sales pipelines that can be customized with the different stages to suit each of your sales processes.
#5: Services & Appointments
I'm probably most excited about this one since I'm a service-based business. This is a new module in the CRM where you're able to create a detailed service catalog for your business. You're able to manage all the areas associated with those services such as invoices and appointment details. Create custom service details such as the name, duration to complete the service, availably, and pricing. This one they're actually still rolling out in phases, so it’s not live for everyone yet.