Tools Needed to Support Business Change

5-ends model is the means through which the company can develop a sales strategy, roadmap and invest in new capabilities to differentiate and gain new customers and help their business change. The tools needed to support business change are as follows:

  1. Intend is product-based and requires a basic form of communication such as email, phone and web conferencing to have meetings with the customer e.g., Google WebRTC can be used to connect to conferences either by telephone or using the computer’s speakers and microphone through a VOIP connection
  2. Spend is feature-based and the salesperson can use contact databases to effectively manage and organise information about its client and customers. Contact database helps to provide a single source for contact information while reducing duplication and missing information. It also provides a secure means to store contact information.
  3. Recommend is solution-based and CRM portals provide an access point for the CRM system. It offers the functionality of the system to those who are not the CRM system users. The portals make it possible to record each touch of the company has with its prospects and customers. CRM systems such as HubSpot, Zoho and Netsuite help to manage the customer data to support sales management, deliver actionable insights and facilitate communication. By understanding customers better, cross-selling and upselling opportunities become clearer and gives organisations a much better chance to win new business from existing customers.
  4. Comprehend is objective-based and the tools include forum or discussion board of ideas. The forum helps the business to increase sales by allowing customers to research through the content when in the pre-business stage. These offer help or advice on a certain subject resulting in the better-informed customer. These also connect customers to each other forming a community, swap ideas, create meaningful relationships and create a sense of belonging.
  5. Blend is buyer-based and social CRM and social media plays an important role. Social CRM is the integration of social media into CRM’s platforms. These offer an opportunity for customers to interact with businesses through social media alongside traditional channels. This means better customer service using the channel of customer’s choice – whether by phone, text, chat, email or social media e.g., Facebook, Twitter. The business receives better insight from the gathered customer data. Another tool which can help in live chat and messaging software such as Slack or Zendesk to contact the customers faster and build better rapport. These also simplify tasks like sharing knowledge documents, solving queries real-time and providing quick answers to common questions.

The above are notes for personal reference from here .

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