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CRMIT Solutions is a leader in transforming businesses with cloud based Customer Experience (CX) solutions on sales, service, marketing & social cloud. Recognized amongst CIOReveiw’s "20 Most Promising Cloud Computing Companies”


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Incentive Compensation in Retail Industry

incentive_compensationThe retail landscape is increasingly dominated by stores. But the headlong rise of e-commerce has put extreme pressure on retailers to become more efficient, and to justify their bricks and mortar existence to customers. Retailers are recognizing that traditional retail needs to be retooled and their key differentiator could be that employee standing in the store.

Employee motivation is probably the most important single manageable factor for success and profitability of all the facets of store retailing. There are almost as many effective ways of motivating employees as there are ways of enticing customers into a store but money is generally the greatest motivator of all.

Retailers offer incentive compensation plans to promote employee motivation. These plans are tailored to the unique situation of each store.

Some of the factors used by retailers while building a compensation plan for a store are

  • Y-O-Y growth ($$$)
  • Y-O-Y growth percentage (%)
  • Achievement against target ($$$ – A grid of growth $ against various bonus %)
  • Achievement against target (% – A grid of growth % against various bonus %)
  • Inflation
  • Seasonality
  • Store factors (Age of the Store, Store Hierarchy, Geography)
  • Non comparability against last year performance (New Store, Store Expansion, Store Relocation, Cannibalization against new store)
  • Employee role, grade/band, salary etc.

While measuring achievement, Targets are usually the store turnover or the profitability or a combination of both. It is better if the plans are simple. However, simplicity itself cannot be given excessive consideration since it is necessary to cover every major measurable factor.

The master data required to build and roll up compensation plans is either defined at the Incentive compensation platform or flows to the platform from upstream systems along with achievement (turnover, profitability) details.

Master data is typically validated by financial controllers and relevant entities before getting fed for compensation consideration.

Incentive compensation platforms help in performing calculations using set of complex rules and the final rates and amounts are dispatched to payroll department for validation before they are broadcasted to the stores.

Store employees access these details through employee portals or other methods setup for them.

Compensation platform facilitates regular reviews of performance against compensation plans to stimulate store level efforts. Data is archived to facilitate audit.

The installation of an effective incentive plan is the foundation of a successful motivational compensation program. To optimize results retailers should regularly nourish and promote the program and a regular review would make sure it is still working to expectations.

About CRMIT Solutions:

CRMIT Solutions is a leader in transforming businesses with cloud based Customer Experience (CX) solutions on sales, service, marketing & social cloud.

oracle_specialized_sales_cloudCRMIT Solutions has achieved OPN Specialized status for Oracle Sales Cloud –Oracle Recognizes CRMIT Solutions for Expertise in Implementing Oracle Sales Cloud. CRMIT Solutions Offers A Host of Solutions on Oracle Sales Cloud, Including Consulting, Sales Planning, Social Sales, Customer Data Enrichment, Field Sales Automation, User Adoption, Training, Health Checks and Testing.

CRMIT Solutions deliver a Fixed Scope Implementation offering for Oracle Sales Cloud to fast track sales productivity. Fixed Scope Offering leverages Oracle best practices and agile approach for fast track implementation of Oracle Sales Cloud – Go Live in less than 4 weeks. It drives sales productivity through higher win rates, forecast accuracy, and lead conversion.

Inputs
C.A.Mohammed
Consulting – CX/CRM Industry Solutions
CRMIT Solutions

 


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Stop Traditional Marketing…. It’s time for Modern Marketing! #oow14

Modern_MarketingOnce upon time… Huh! don’t worry am not going to tell a long story. It’s my anecdote.

We have a lots of unintelligible data. For e.g, so many people are visiting Landing pages but don’t know, from which source they are coming?
we are equally spending money across all the networks(Social Media, Google Adwords, Webinars, Virtual Events etc…) couldn’t able to find out ROI breakout on individual
source.
Eloqua has showed a solution for this. Now, we can figure out from where we are getting more Leads. It is giving Data Intelligence to drive Sales Cycle more .

Scenario: Campaign to invite customers to attend a sales webcast or virtual event.
1) Send initial email invitation
2) Scrub registration list against email list
3) Send reminder to those not registered
4) Wait until the webcast date, download the attendee list. Divide list to send thank you and sorry we missed you email.
5) Email attendee list to marketing operations to upload into CRM.

After Marketing Automation
1) Upload emails and campaign list into Eloqua.
2) Create Eloqua Program
3) Activate
4) Do a happy dance when leads show up.
5) Have a glass of wine to celebrate.

Eloqua has solved my maintenance issues & made me Modern Marketer.

Happy Modern Marketing

Don’t relay on others… Do it your own Marketing.. Be like one man Army

Still, Are you relaying on Web Developers, Designers to do Campaigns. Their support doesn’t require anymore.
Everything you can do it by your own with WYSIWYG(What You See Is What You Get) Editor. Doesn’t Sound interesting. It’s as simple as Drag-Drop feature.
Which will effectively improves your ROI(Return on Investment) & SOI(Savings on your Investment). Are you thinking how?
Let me explain scenario.
Use case: Execute Campaign

Without Eloqua,

1) Taking help from Web Developers/Designers to create Emails/Landing Pages.
2) Sending emails.
3) Resending emails(Who are not responded)
4) Checking for Date/Time (To restrict sending emails in Business Days only)

No.of people involved in this process is more than one.

With Eloqua,
1) Create Email by your own self.
2) Set the Campaign Canvas.
3) Let Eloqua to flow the Campaign Canvas(Which includes Resending emails, Restricting emails based on Time Zones & Business Days/hours)
4) Enjoy the Reports

No.of People involved here is only one(Modern Marketer)

About CRMIT Solutions:

CRMIT Solutions is a leader in transforming businesses with cloud based Customer Experience (CX) solutions on sales, service, marketing & social cloud.

CRMIT Solutions also extends Marketing Cloud Automation solutions with Oracle Eloqua. “Marketing Oracle Marketing Cloudautomation has been a critical component for our customers and Oracle Eloqua is an ideal fit for modern marketers to power revenue performance,” said Vinod Reddy, Founder & CEO, CRMIT Solutions.“They can transform the way you market in the digital age while delivering an integrated and highly personalized customer experience,” added Vinod.

Testimony to Customer Excellence

CRMIT Solutions is committed to provide customers with the best service in the industry. Everything we do – every order, every delivery, every service, every offering – centers on the satisfaction of our customers, and making them more efficient at what they do.

Input from
Ravi Teja
Marketing
CRMIT Solutions


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Oracle Service Cloud Cross-Channel Contact Center Overview and Roadmap

 

oracle-service-cloud

Let’s start with channel, today we got numerous channels i.e. voice, emails, web, fax, texts and many more including social media and to be very honest out of these, web and social media are very hot right now and gaining popularity.

Yes it would be absolutely right to say that we are dealing with a multi-channel platform and we need multiple channels everywhere because technology has made us sluggish, at least I have been acting lethargic lately.

cross channel inconsistencies

I remember one day I made a call to a customer support centre and next day I’m so lazy that I want to contact them without opening another tab in my browser’s window. And then I just always end up going to company’s Facebook fan page and write my complaint or service request number and try to know the status. Don’t you think it would be easier for the customer if all of this was connected? I should be able to contact the company any way I prefer and when that happens you have a good customer experience and yes I do share it with my friends too.

ORACLE Rightnow

I think Oracle Service Cloud has done an extravagant job in making it so elementary by providing a complete view of the whole situation at one place and in result it made it so easier for contact center agents with the help of simplified screens and unified workspaces. All they have to do is open a Contact or a Service Request and the whole story is right in front of their screen regardless what channel customer has used to contact the company.

Oracle Service Cloud for cross channel engagement

We can use the same approach with the cross channels, For example I open a company’s website and try to access its knowledgebase first  and on spur of moment a pop up opens and a Virtual Assistant assists me based on the dialog design and some model questions. But that’s not it, it doesn’t end here, then it has an ability of routing me to a live chat agent based on the inputs given by me before commencing the chat.

The point I’m trying to make here is that ‘Customers oft-times cross channel boundaries and it’s unpredictable and uncertain’ and application like Oracle Service Cloud gives you a flawless platform to give your customer an admirable experience, after all it is all about Customer Experience. No matter what channel it is, let it be web, e-mails, chat, Facebook, twitter or voice, Oracle Service cloud is your ‘one stop shop’.

It just didn’t help customers I think it was transformative for agents too. It has never been easier for agents before, routing the right requests to right agents, all the information on the same window. What more you could ask for. It has significantly helped agents in reducing the response time and that ensures customer satisfaction and retention.

About CRMIT Solutions:

CRMIT Solutions is a leader in transforming businesses with cloud based Customer Experience (CX) solutions on sales, service, marketing & social cloud.

Specialized Partner for Oracle Service CloudCRMIT Solutions has achieves Oracle PartnerNetwork Specialization for Oracle Service Cloud – Oracle Recognizes CRMIT for Expertise in Implementing Innovative and Value-Added Solutions to Oracle Service Cloud for a unified cross-channel (web, social and contact centre) service solution that matter most in the customer’s journey.

Oracle Service Cloud SolutionsCRMIT is are committed to provide customers with the best service in the industry. Everything we do – every order, every delivery, every service, every offering – centers on the satisfaction of our customers, and making them more efficient at what they do.

Testimony to Customer Excellence

Inputs from

Puneet Rajpal
Business Consultant –Industry CRM & CX Solutions
CRMIT Solutions


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Can Oracle Service Cloud cope up with the modern customer service needs?

 

Oracle RightNow Cloud Service

Customer Service is one of the areas that is rapidly changing and companies are thriving to cope up with the customer needs. Day by Day, every company is trying to setup a benchmark for their customer service but realizing after a moment that the expectation has already gone up – the best analogy is like how the government plans to improve the infrastructure to the best of its offerings to the citizen by adding additional roads but realizing by the time of completion that the traffic has already gone up and the entire road has just met the needs of citizens and can never be considered to be the best for citizens. Such every changing demand ultimately makes them to revisit, restrategize the entire way of handling the customer service.

When organization has to be so adaptive and quick for this rapidly changing needs, the investment that organization made on the support tools should not go waste – especially when the organization is partnered with the IT vendor like Oracle. Post Oracle’s Acquisition of RightNow, Oracle has taken the modularity of this product into different heights. Feature Set of the Oracle Service Cloud is consistently improved and added to meet the demands of the modern customer service and also ensuring to provide a high return on investment for the organization who has bought Oracle Service Cloud with confidence.

Oracle RightNow CX Cloud Service

It is not the current feature set that is built to provide the confidence but also the promising futuristic vision of added fuctionalities and simplicity in implementation makes Oracle Service Cloud more reliable than ever. Being flag-shipped as the front runner to deliver great customer experience, Oracle Service Cloud positions itself beyond the support tool and being able to be rapidly implemented, customer support executives would only need little to no training to start serving the customer. If providing a great customer experience to the customers is one of the top priorities of the CXOs of Organization, Oracle Service Cloud is THE right tool to be partnered for a long term vision.

About CRMIT Solutions:

CRMIT Solutions is a leader in transforming businesses with cloud based Customer Experience (CX) solutions on sales, service, marketing & social cloud.

Specialized Partner for Oracle Service CloudCRMIT Solutions has achieves Oracle PartnerNetwork Specialization for Oracle Service Cloud – Oracle Recognizes CRMIT for Expertise in Implementing Innovative and Value-Added Solutions to Oracle Service Cloud for a unified cross-channel (web, social and contact centre) service solution that matter most in the customer’s journey.

Oracle Service Cloud SolutionsCRMIT is are committed to provide customers with the best service in the industry. Everything we do – every order, every delivery, every service, every offering – centers on the satisfaction of our customers, and making them more efficient at what they do.

Testimony to Customer Excellence

Inputs from

Suresh Ponniah
Principal Business Consultant –Industry CRM & CX Solutions.
CRMIT Solutions


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The Future of Oracle CRM On Demand: Roadmap and Strategy for Continuous Innovation

Continuous-innovation-and-value-to-customers

The future of Oracle CRM On Demand:

Oracle CRM on Demand or simply OCOD, is presently 26 releases old. This and few of the releases in the recent past indicates the commitment Oracle has towards this product. Also, it has brought in sigh of relief among Oracle’s customers and partners who otherwise thought that the product has reached its end and Oracle would show apathy towards it.

Below paragraphs are attempts to summarize a list of reasons why one should look forward for using OCOD instead of looking for alternatives.

Mobile capabilities

It is out in open, Mobile and Cloud technologies are the 2 concept that would shape the way business are done in years to come.

System which can only present data to a sale reps on their computer screen seems naive these days. World is looking for systems which can find information while they are on the move.

Significant investment was seen from Oracle to make OCOD a mobile enable product. It looks the end result set as objective was a system that is not just informative and sensible but also responsive and pretty at the same time.

2 enhancements OCOD Disconnected Mobile Sales and OCOD Connected Mobile Sales are outcome of this very investment. Both being sales centric apps, provides access to data and ability to manage Contacts, Tasks, and Appointments with ease.

CRM On Demand Mobile Capabilities

RESTful APIs Support

Continuing the mobile enablement strategy, OCOD will soon be introduced to RESTful APIs to support mobile based solutions. This feature, once introduced, doubles up the possibilities and increases the range of solutions that can be provided on the system.

Late last year, OCOD witnessed similar ground breaking release in the form of Javascript APIs. Almost a year past and now it is evident to all how it has changed the way custom solutions are designed on this system.

It is not just the utilities these API brings in make them ground breaking but, the fact that they are low maintenance, cost effective and increases overall UX.

Social Integration

Less than half-a-decade ago there were times when businesses were looking for systems that could generate leads through their websites or enable customers to raise enquiries through them. The fact that it can be termed as a thing of the past shows the pace with which CRM as a concept has evolved. Today’s world is looking for systems which to generate leads from Social Networking Sites and Forums.

OCOD’s new integration abilities with Oracle Social Relation Management (SRM) are steps in the same direction. SRM in itself a matured product suite, has in-built features such as Social Engagement and Monitoring (SEM), Social Marketing (SM) and Oracle Social Network (OSN) is now couple with OCOD’s Marketing, Sales and Service capabilities. It already seems a potential winner in this space at the moment.

Report API

Today, it is hard to find any product that could challenge Oracle BI (Analytics and Reporting) tools for its potentials. Built on the same framework, OCOD Reporting tool will see another feather in its hat. Soon to released Report API allows reports to be executed offline and results can be scheduled and sent over an email.

This means sales manager would not have to log on to his OCOD to review the stats and track the progress of his team as it would be readily available to him every morning in his email client.

Oracle Cloud Marketplace

Ever since Oracle made Cloud Marketplace available, innovative products have been pouring down the alley. It is a great place to find business apps for Oracle cloud. This platform has opened up vast opportunities for stakeholder to showcase their ideas and solve complex business problem at the same time.

Recently, OCOD has found it ways into Marketplace and soon we will witness interested apps up there for our businesses to use.

One would agree that even without these enhancements, OCOD still is one of the most comprehensive CRM solutions available on Cloud today.  With further investments in pipeline, it doesn’t seem this decade old product is going to give up without a fight when put against heavy weights such as Oracle Sales Cloud and Oracle Service Cloud both put together.

About CRMIT Solutions:

CRMIT Solutions is a leader in transforming businesses with cloud based Customer Experience (CX) solutions on sales, service, marketing & social cloud.

oracle_crm_on_demand

 

CRMIT Solutions has achieved Oracle PartnerNetwork (OPN) Specialized status for Oracle CRM On Demand.

“This Specialization reinforces our capabilities, dedication and commitment to Oracle CRM On Demand. Having completed over 100 customer implementations across numerous verticals using our CRM++ applications for CRM On Demand, we have been able to help bring business value to our customers. Our expertise has helped us become a virtual extension to the Oracle sales and technical teams”says Vinod Reddy, CEO, CRMIT Solutions.

Testimony to Customer Excellence
CRMIT Solutions is committed to provide customers with the best service in the industry. Everything we do – every order, every delivery, every service, every offering – centers on the satisfaction of our customers, and making them more efficient at what they do.

Inputs from
Deepak Andeli
Business Consultant – Industry CRM & CX Solutions
CRMIT Solutions


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Driving Sales by Leveraging Analytics with Oracle Sales Cloud

Sales Analytics

So what does it take to give an accurate forecasting?

For an organization, it’s important that the sales rep achieve their numbers (the one they predicted). It’s known fact that underachieving is dangerous. It is equally true, though may not be agreed upon that overachieving (with higher margin) is equally dangerous. Though we can applaud, for overachieving, but we cannot undermine the cause – effect. The entire SCM planning would go for a spin, which could equally lead to damage to the brand.

Though, we should encourage the Sales Team to overachieve the numbers, but we should ensure that is predicted well in time. Oracle Sales Cloud Analytics facilitates the same.

The sales cloud dashboard gives a comprehensive view of the data. The commonly configure reports are Actual Vs Quota this is view which enables you to view what is the gap between your forecast and actual. There are various support reports like Top Open Deals, Pipeline, Team performance and Push Counter. The Push Counter reports shows the deals that have been pushed from the last quarter to the current.

Oracle Sales Cloud analytics

Following are the key feature added in oracle Sales Cloud 8:

CONFIGURABLE SALES DASHBOARD

The new Sales Dashboard contains pre-built reports and charts that help you sell more. These reports provide insights into your open pipeline, deals that moved out of the current quarter, team performance, and historical opportunity trends. You can tailor these reports for sales executives, sales managers, or sales representatives.

HISTORICAL OPPORTUNITY TRENDING

You can now create custom reports to track the historical progression of opportunities across sales stages. Review daily, weekly, monthly, quarterly or yearly revenue trends; and further analyze revenue trends by product, resource or territory.

HISTORICAL FORECAST TRENDING

You can now analyze forecast trends and compare the forecast to key analytics such as pipeline, won revenue, and quota. Forecast metrics will remain historically consistent and accurate across forecasting periods even if product or territory hierarchies change.

EMBEDDED REPORTS IN SIMPLIFIED UI

You can tailor the Oracle Sales Cloud simplified UI to show standard or custom reports where your sales team needs them most. Use Page Composer to embed actionable reports on the following pages:

Analytics Page: The Analytics homepage includes eight subtabs for reports. The first three subtabs show standard reports. The other five subtabs are customizable, but hidden and blank by default.

List Pages: The Leads, Opportunities, Accounts and Contacts list pages include three subtabs for reports. These tabs are customizable, but hidden and blank by default.

Detail Pages: The Leads Opportunities, Accounts, and Contacts detail pages include three subtabs for reports. These tabs are customizable, but hidden and blank by default.

PRE-BUILT REPORTS FOR LEADS, OPPORTUNITIES, ACCOUNTS, FORECAST, AND PARTNERS

You can now use these preconfigured reports to measure your sales performance:

Leads: Team’s Leads, My Leads by Age, and My Open Leads by Source.

Opportunities: My Team’s Performance, My Team’s Pipeline, My Team’s Leadership Board, My

Performance, My Pipeline, Top Open Opportunities, Sales Performance Trend, and Sales Stages by Age.

Accounts: My Top Accounts.

Forecast: Forecast Compared with Quota, Team Forecast Compared with Team Open Pipeline, and My Forecast Compared with My Open Pipeline.

Partners: Partner Performance, Open Pipeline, Partner Leadership Board, and Partner Win Rate.10

CUSTOM REPORTS FOR OPPORTUNITY TEAM AND CONTACTS

The following two new subject areas allow you to create custom reports on opportunity team and opportunity contact:

Sales – CRM Opportunity Team

Sales – CRM Opportunity Contact

These subject areas include the details about the role of the team members and the role of the contact on each opportunity. These subject areas also allow you to generate a report of a summary view of all the opportunities involving a team member or a contact.

CUSTOM REPORTS FOR ACCOUNT TEAM

The following new subject area allows you to create custom reports on Account Team:

Sales – CRM Account Team

This subject area includes the details about the role of the team members on each account. The subject area also allows you to generate a report of a summary view of all the accounts involving a team member.

REPORTING ON CONTACT ATTRIBUTES

With the new contact model enhancements, you can create custom reports about standard contact attributes, such as job title, sales affinity, and relationships between accounts and contacts.

The Contact model now uses the same security rules as the Contact object in Oracle Sales Cloud. This ensures that you can see the contact data in the report only if you have access to the contact data.

AUDIT REPORTING

Audit reporting allows you to track the usage of the Oracle Sales Cloud application. With audit reports, you can see who made what changes in the application and when. You can also configure your reports to control who can view the audit information.

SALES PREDICTOR

Using the Attribute Analysis report, you can determine which customer attributes are important for lead generation and qualification based on data quality. The Association Model report provides critical information.

About CRMIT Solutions:

CRMIT Solutions is a leader in transforming businesses with cloud based Customer Experience (CX) solutions on sales, service, marketing & social cloud.

oracle_specialized_sales_cloud
CRMIT Solutions has achieved OPN Specialized status for Oracle Sales Cloud –Oracle Recognizes CRMIT Solutions for Expertise in Implementing Oracle Sales Cloud. CRMIT Solutions Offers A Host of Solutions on Oracle Sales Cloud, Including Consulting, Sales Planning, Social Sales, Customer Data Enrichment, Field Sales Automation, User Adoption, Training, Health Checks and Testing.

CRMIT Solutions deliver a Fixed Scope Implementation offering for Oracle Sales Cloud to fast track sales productivity. Fixed Scope Offering leverages Oracle best practices and agile approach for fast track implementation of Oracle Sales Cloud – Go Live in less than 4 weeks. It drives sales productivity through higher win rates, forecast accuracy, and lead conversion.

Testimony to Customer ExcellenceCRMIT Solutions is committed to provide customers with the best service in the industry. Everything we do – every order, every delivery, every service, every offering – centers on the satisfaction of our customers, and making them more efficient at what they do.

Inputs from
Anitha Thangaraja
Sales & Marketing
CRMIT Solutions


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Successes of Unified Brand Engagement

Brand Experience

Recently we started building a mobile application for one of our CX clients. During requirements gathering face, we asked for their brand guidelines in terms of user experience.

Our customer was surprised. Their response was ‘you are the mobile experience experts, you should be able to design this based on your previous experience, how can we add value in this?’

We expected this answer and explained to the customer that mobile experience can’t be very different from the customer’s existing brand experience. Of course, mobile provides various other possibilities, but, if it is drastically different from the other experience the customer is used to, it tends to confuse them and provide an overall bad experience.

For example, if I am booking flight tickets in a particular website for the previous 5 years, and suddenly the company introduces a mobile application, I expect to use the mobile app in pretty much the same way as the web site. It can be sleek, can use different icons and color combinations, but the brand experience shouldn’t be different requiring a relearn.

This is an interesting challenge. We want to use the features provided by the mobile device, at the same time, we want to keep the unified brand experience (UBX). Both of them should be considered before arriving at an architecture. This is not just for mobile, but applies for any channel.

Take a bank for example, a customer may access it in his mobile device or web or smart TV or through an ATM. All these experiences should be unified so that they don’t feel the pinch of switching from one channel to another. Means, data continuity, along with brand experience continuity.

Hence, we encourage our customers to arrive at guidelines in terms of brand experience which can be shared with people developing different touch points in different channels. Starting from logo, alignment, fonts, colors, to the way menu items are organized, these should be documented so that it is clear for the channel developers what to expect.

 

Next-Gen Customer ExperienceAt the same time, this shouldn’t become a boring “Color by numbers” experience for the channel developers. They should be given freedom to choose the best design that suits the device. For example, in the flight ticket booking application, there can be a feature which says “Search flights from the nearest airport”, which may not be applicable for a PC based web site.

As new channels get added every day, this becomes a very important task marketers need to focus. A well designed Unified Brand Experience can do wonders in terms of bringing people to new channels.

CRMIT’s UI/UX team works closely with customers to arrive at their Unified Brand Experience (UBX) guidelines and supports channel developers to translate it creatively to suit their device specific needs.

About CRMIT Solutions:

CRMIT Solutions is a leader in transforming businesses with cloud based Customer Experience (CX) solutions on sales, service, marketing & social cloud.

We are committed to provide customers with the best service in the industry. Everything we do – every order, every delivery, every service, every offering – centers on the satisfaction of our customers, and making them more efficient at what they do.

Testimony to Customer ExcellenceInputs from

Naga Chokkanathan
Sr. Director – Innovations
CRMIT Solutions