Outlaw Spirit – Lessons from The Zoho Analyst Day 2021
The 2021 Zoho analyst day certainly was different. Different not only because it was not an offline but an online event but in the way it was prepared and conducted. Apparently, the team around Sandra Lo has taken up quite some lessons that other events had to learn, too. This is kind of the advantage one has not being the first one in a season. But this was only one part of it. The second part is that the whole event was run using Zoho software, in particular Zoho Backstage and Zoho Meeting. Overall, there have been some 150 attendees with what I assume, very different levels of knowledge about Zoho. The event In contrast to most other analyst events, this one required actual preparation, as product and roadmap topics have been sent out beforehand for self-study – and were kind of “required reading”. Going through all videos at least once was an exercise that lasted more than five hours. The event itself was split into two days of two and a half hours each, covering topics from corporate responsibility via status up to roadmap topics. Day one started with a corporate presentation, the past 25 years and a view into the next 25 years, based upon CEO Sridhar Vembu’s vision and the partly interrelated themes that he sees (and builds his company around): De-Layering the tech stack, which means that within the tech stack from chip level to business solutions that a company operates, less vendors will be neededExtreme financial bubbles that we have seen and will continue to seeThe emergence of self-reliant regional economies and the regionalization...
We all want to be recognized
Abraham Lincoln reportedly said “Don’t worry when you are not recognized, but strive to be worthy of recognition.” I am wondering how this applies to the companies we interact with. I would worry if I was not recognizing my customers, and I work to be recognized by them. Recognition is a concept that goes both ways. And as a customer, I worry when I am not recognized, or no longer recognized. Technology has enabled amazing one-to-one marketing for businesses selling to consumers (B2C). But how effective is this marketing in reality? I am always shocked that I can walk into a car dealership and not be recognized. When I am shopping for a car I always point out what I have leased in the past. I am trying to help the car salesman recognize me. Another example might be Nordstrom. You could expect a shopping experience where you only see clothes in your size or even style. “Hey Rich – we know you – here is what we suggest.” Shoppers want to be recognized but it just hasn’t happened yet.Companies selling to business customers (B2B) will find these in many different sizes, from small businesses to the Fortune 500. Very large customers are easy to recognize.There is complexity in selling to the company and its many divisions or departments, but you know they are large and important, because the deals tend to be bigger than deals with SMBs. Ford, General Electric, Starbucks – when selling to a big account the seller certainly recognizes the opportunity and treats the account accordingly by offering solutions to their needs. Selling to small businesses is...The New Cost-Effectiveness Argument
You don’t buy size 12 shoes for size 9 feet. You don’t get a Bugatti Chiron for grocery store runs. You don’t swat flies with field artillery. And you don’t buy more contact center technology than your business can reasonably grow into.The customer service neighborhood of CRM was the wrong side of the tracks for many years. The contact center could only cost the company money (so it was thought), so the responsible strategy was to cut costs to the bone and never spend anything there unless forced to. Asking for more staff or better equipment was like getting the state to renovate the prison library—impossible without somebody of the calibre of Andy Dufresne in The Shawshank Redemption. That attitude was changing by the dawn of the 21st Century. Research proved that better customer service led to better retention, loyalty, and advocacy among customers. These led to a strengthened brand and increased revenue in the long term. New integration technology meant the contact center could save and even generate sales in its own right. The rise of online communities and social networking showed the strength of the motivated and well-connected customer. A shout of praise when a company went the extra mile for a customer in need could be amplified. So could a howl of outrage when one was treated callously, with potentially disastrous results. Spending in the contact center was not only necessary, it was the smart thing to do.The freedom to make decisions based on results rather than thrift was never license to burn money, but it meant that customer service had a stronger voice at the...
How to enable Sales Operations
This CRMKonvo was supposed to be with Thomas Verly, a highly experienced Sales- and IT leader. We wanted to learn from his experience how to enable sales operations. What is important, what to measure? Do you really need a CPQ system? Unluckily he could not participate due to the heavy snow storm in Texas that caused major disruption. The good news is that Thomas and his family are safe Now, the CRMKonvos team has more than 70 years of CRM experience. We are coming from very different angles. So, we decided to tackle the topic, making some good points. Enjoy this episode and look forward to another one with Thomas Verly. Coming...