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If your business utilises multiple commerce platforms and channels to...
Businesses can put a lot of effort into engaging and interacting with both potential and existing customers, and it is important to ensure that sales and marketing activities, staff time and resources are utilised effectively. To this end, businesses should be targeting the right customers, prospects and leads at the right time to help ensure the best chance of converting opportunities and leads into profitable sales.
In the January release of OrderWise, valuable RFM (Recency, Frequency and Monetary) Profiling functionality was added which grades/ranks current customers, allowing for better targeting of marketing and sales activity.
Building on this feature, this month sees activity scoring functionality added, which scores prospects/leads based on how much or how little they have interacted with your business. This new feature allows businesses to concentrate sales and marketing efforts on those prospects displaying the most interest, or conversely, identify those whose interest and interaction levels need increased nurturing and boosting.
Using the new activity scoring feature, both CRM activities and quotes can be attributed scores, which OrderWise will then use to calculate an overall score that can then be used to easily see the value of a lead based on their level of activity and interest.
To ensure the feature provides results that are of specific relevance to your business, different weightings can be applied to the varying activities, allowing for customisation of how the activity score is worked out depending on the needs and priorities of your individual business.
What’s more, this new feature can also be used to assess the amount of interaction an existing customer has with a business balanced against the amount of purchases they make. This allows a business to see which existing customers provide the best return for the least interaction.
With such a scoring system, it is important to recognise that recent activity is likely to be more valuable than past activity. For example, to a sales person, it is more important that a prospect made a telephone enquiry or requested a quote last month than if the prospect did so six months ago. This is an example of ‘activity decay’ and within the new OrderWise Activity Scoring feature, users can set time periods from which activity is to be scored, meaning that ‘decay’ can be taken into account. This ensures that data and scores reflect high quality leads based on recent activity and not old and less relevant interaction.
With this new functionality, businesses can ensure that they have clear visibility of the most valuable leads and can focus their efforts accordingly, meaning staff time and resources are utilised in the most effective manner to drive optimum lead conversion rates.
Existing users can contact our Client Account Management team for more information and to discuss your requirements in more detail please call 01522 704083.
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