Category Archives: Selling

Why you Should and Shouldn’t Invest in an Annuity

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Investing in an annuity can be a suitable financial strategy for some individuals, but it’s essential to carefully consider your financial goals, risk tolerance, and personal circumstances before making such an investment decision. I recently purchased an annuity and gave some thought to why I should and why I shouldn’t have? If you’re considered investing in an annuity here are some reasons why you still might:

  1. Guaranteed Income: Annuities can provide a steady stream of income, which can be particularly valuable in retirement. Fixed annuities offer guaranteed payments for a specified period or for life, providing financial security.
  2. Tax-Deferred Growth: Many annuities offer tax-deferred growth, meaning you don’t pay taxes on your earnings until you withdraw them. This can be advantageous for individuals in higher tax brackets, as it allows your money to grow more quickly.
  3. Diversification: Annuities can be part of a diversified investment portfolio. They can provide a stable, low-risk component alongside riskier assets like stocks or real estate.
  4. Lifetime Income: If you choose a life annuity, you’ll receive payments for as long as you live, which can help protect against the risk of outliving your savings.
  5. Principal Protection: Some annuities, like fixed or indexed annuities, provide a degree of principal protection, ensuring that your initial investment is safe from market fluctuations.
  6. Legacy Planning: Annuities can also include options to leave a legacy for your heirs. While the primary purpose is income, you can set up certain annuities to provide a death benefit or pass on the remaining balance to beneficiaries.
  7. Predictable Returns: Fixed annuities offer predictable, guaranteed returns, which can be appealing if you’re risk-averse and prefer steady, known income.

However, it’s also crucial to consider the potential drawbacks and risks associated with annuities as well. Here are a few reasons you may not want to invest in an annuity:

  1. Lack of Liquidity: Many annuities have limited or no liquidity, meaning you may not access your money without penalties or surrender charges for a specified period.
  2. Fees and Expenses: Annuities often come with fees, including sales commissions and management fees, which can eat into your returns.
  3. Complexity: Some annuities, particularly variable and indexed annuities, can be complex and challenging to understand fully.
  4. Inflation Risk: Fixed annuities may not keep up with inflation, potentially eroding your purchasing power over time.
  5. Loss of Control: When you invest in an annuity, you’re relinquishing control over a portion of your assets, which may not be suitable for individuals who want flexibility and access to their money.
  6. Insurance Company Solvency Risk: Annuity payments are backed by the financial strength of the insurance company. While many are highly rated and stable, there is still a degree of risk associated with the insurance company’s financial health.

Before investing in an annuity, it’s essential to thoroughly research and understand the specific type of annuity you’re considering, the terms and conditions, fees, and the impact on your overall financial plan. Additionally, it’s wise to consult with a financial advisor who can provide personalized guidance based on your individual financial goals and circumstances. As with any of my posts, I would love to hear if you have invested in an annuity, how it’s going, or why you have decided not to invest in an annuity? Drop me a line or give me a call and until next time keep smiling cause it really does look good on you.

Inbound Sales is ALL About Outbound Social Media? Or is it?

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As the world changes, so does the way(s) we all continue to communicate with one another. According to the Merriam Webster Dictionary, “communication” originated in the 14th century (WOW) and is defined as “the act or process of using words, sounds, signs, or behaviors to express or exchange information or to express your ideas, thoughts, feelings, etc., to someone else.” So then why do most people NOT consider SOCIAL MEDIA and SALES communicative and social tasks? What I mean by that is why do marketers, as well as other professionals think that social media isn’t the best tool available to communicate with others, thus increasing sales (i.e. inbound selling). In fact, I believe that customers take joy in being social over the web and would rather buy online at their own pace versus someone else’s or in-person. Am I being naive or do you agree or disagree? Whether you agree or disagree, one thing is certain and that is if you understand the role(s) of communicating and social media in general that these two combined can be paramount and vital to your personal or long-term business success(es).

How buying is changing online

With the advent of online sites such as Google, Ebay, Yelp, Facebook, Twitter, FourSqaure, EmpireAvenue, Pinterest, Tumblr, StumbleUpon, LinkedIn, Quora, etc people have more say “dictating the buying/selling processes” and can voice their opinions as little and/or as often as they want, thus dictating what customers/businesses ultimately buy and sell. In fact, (I believe you already may know this) but it is no longer about what a salesperson/company says or presents but instead about what a buyer says online or in person that dictates what they truly want in a (B2C business-to-consumer or B2B business-to-business) competitive environment.

Forrester, which is a leading research company recently reported that over 90% of the time B2B (in this case B2B IT buyers) are involved in some form of social media, not so much as actual purchasers but as purchase spectators. What this actually means and maybe the case more times than not in any industry is that 90% of the people or businesses that are looking for IT services or ‘YOUR services/products” are on some form of social media site. Regardless of the industry, you and/or your company cannot afford to ignore these statistics if you want to continue increasing sales over the long run. Yes, this also means that even though these people are online (i.e. social media) they maybe just there to see how you and/or your company is perceived, so they also can adjust their business strategy around what people want (i.e. again inbound selling adjustments) throughout an industry not just your company. Yes?

Not just for the traditionalists

While not too long ago and perhaps even to this day (you have more than likely experienced this) many people have/did enter(ed) into the online social sphere of things with the whole “get rich quick scheme or multi-level marketing” but as time passed we all have voiced our opinions thus we are seeing a dramatic decline in this category. That is a big relief huh? Personally, over the years I have grown to hate all these multi-level marketing schemes and am very pleased to see them fading into the night just as the typewriter of several years past. Since these multi-level schemes were and never will be credible ways of making money or advancing sales online (instead only making a few people rich) while making other people more skeptical of online buying/selling. Having a tremendous amount of prior B2B and B2C sales experience, I came into social media marketing (social media selling) with a determination to grow a community and eliminate the hard sell, since generating awareness and need for a purchase are at the forefront of sales and have always been my way of producing sales not the other way around. Let’s face it who likes that nagging sales person that calls 10 times a day or week trying to sell you something you don’t necessarily need but instead trying to sell you something they think you need in order to increase their own sales numbers, while making their boss(es) happy. Social media selling gives the customer what they need and that is relevant information that they can use to create their own need; thus, calling you (INBOUND) when they are actually ready to buy on their own terms and not yours. So, let’s say bye to all those bait and switch techniques of the past and hello to transparency of the present “gifts” that help you and your prospects make good buying decisions. An honest conversation online thorough social media and other like platforms that make your phone ring not you ringing others, thus increasing sales and creating more long-term partnerships.

Social Sales

If what I have mentioned so far hasn’t convinced you that social media is/has changed the way everyone communicates, then I ask you to think about all the people you and/or your company reach daily, weekly, or yearly to create awareness, while maintaining one-on-one contact. Do you see how or perhaps create some of the most important relationships that you or your company has/can develop online? Have you or your company closed any accounts or sales online without actually even talking to another person? If you are like most others the answer to this question should be YES (even in the lowest form you surely have purchased from EBay or Amazon)and if not then you really need to get or build your online presence immediately. If you are in sales and also answered NO to this question, you also need to start building your own online presence as well as your companies since you cannot or will not be able to rely on in person or personality only to seal more deals moving into the future.

As social media helps to continue to shaping sales by changing the old mantra of “who you know” by “what you actually know” especially what you know about others (i.e. communicative spectators). The new age of selling should demand online communication of every one of its employees regardless of position in order to enhance other purchasing decisions by adding value to an online conversation. Needless to say and long story short is that I ask you to stop convincing yourself or business that social media cannot help you and instead embrace how communication/social media can help you leverage your personal or business goals. Those people and companies that understand these concepts most and are willing to forge forward into this new business space of sales will be the ones that I will be still writing about 20 years from now.

David Dandaneau is a Consultant at [SevenTimesSeven]. He specializes in helping business owners “manage their business and not their processes!” For more connect with him via Twitter @ddandaneau or any of the other social platforms you may find him on.

Social Media Selling! Say What?

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Image via Flickr: Cambodia4kids.org
‘Social’ is the art of connecting, interacting, and engaging in a since. I like most others appreciate this broad definition of SOCIAL or in this discussion ‘Social Communication’…
So, with that being said, let’s talk about a less fashionable “S-word”: SALES.
As mentioned previously in many of my other posts, the new era of communication, engagement, sharing quality content, combined with the new social media approach makes ‘SALES’, along with its partner ‘SELLING’, a word(s) many people and organizations have started to discuss removing from the dictionary. Well maybe not that extreme but check out this article which seems a little contradictory since the author points out that social media can help with customer service, engagement and marketing (i.e. are these not part of the sales process anyway, so why not selling through these in the social space?)
Needless to say, whatever your viewpoint is of sales or selling online (i.e. through social media) almost every business (big or small) have/has to use these social medians now a days to make money, while promoting, networking, and marketing… I think others would refer to these along the lines of brand recognition, huh? Furthermore, believe it or not there are quite a few ways that you can insert yourself or business in this space in order to boost your reputation and/or revenue, while not disrespecting the developing social world, which I think is what most people are really talking about here. Yes?
In fact, I have identified a couple of techniques for you and or your team to use, so you can take advantage of engagement, networking, and referrals in the new social world.
1. Evaluation

The art of knowing everything you can about a particular product, service, and/or target market is just that… an art without proper evaluation of your network or your potential prospects. With all the online resources available to you/your business, you now have the ability to target just about anyone or any company anywhere for your ideal sale pitches… well this is assuming that you or your organizational leaders have used these tools before and you have them available to create detailed social accounts for your growth plans. If not try developing/development in this/these simple steps:

Create some saved searches based around keywords relevant to your business (Google is a good place to start, after all who doesn’t ask the Google Gods for just about everything?):
  • Your product/service offerings
  • Your company and competitors name(s)
  • Your and other related industry sector(s)

Basically, what I am saying here is that you need to search and develop ideas or anything that reflects on you and/or your business acumen, which offers you the best ability to engage with people who are showing an interest in creating offers you may be considering promoting yourself. Let us also not forget about some other key components in selling.
  • Listen and/or listening! Perhaps this is the most important part of any sales pitch but one in which many people ignore because most salespeople are tempted to jump straight to the sale in fear of rejection or needing a sale now. Whether you are in person or online remember not to take over a conversation or hijack a comment stream just for a sale, as this more times than not turn’s people off especially if you are complaining about your brand or another person or company. Instead feed people (prospects) information backed up by quantitative research in order to engage, add value, and educate people or companies in order to grow relationships that will lead to long-term partnerships and ultimately more sales and referrals- (this was a big part of my dissertation, so please email me if you would like more information on this).
  • After you have identified people and other businesses of interest, try assigning some sort of “lead/prospect rating” in order to categorize the who, what, and when of first contact in your networking strategy.

Lastly, keep records of your data, findings, and future plans for all new or potential sales leads, in your CRM system. If you don’t have a CRM it is about time you put away all the Excel spreadsheets and bought a program such as ACT or subscribed to another system such as Sugar, Salesforce, Zoho, etc if you want to really take on SALES in the new Social CRM world.
“Going viral is not an outcome; it’s a happening. Sometimes it happens; sometimes it doesn’t. Just remember, fans are vanity and sales are sanity.” Lori Taylor (@lorirtaylor) 

2. Engagement

Now once you have identified, rated, and perhaps even already engaged a person or business of interest about your product or service stop a minute and think about a few other things:
  • Depending on what social sites you are part of Facebook, Twitter, FourSqaure, EmpireAvenue, Pinterest, Tumblr, StumbleUpon, etc you need to start or continue to reach out and join other people or companies conversations who are talking about you, your product, service, or other similar products or services in order to showcase to others why they need you or why you or your company can add value to their life or future business plans.
  • Have you ever heard of the old saying… plan the work and work the plan? Well, this holds true online also as after you have planned your networks of engagement, you need to work your leads in order to nurture future sales. If possible let others start and drive the conversation (i.e. a great site(s) for this are LinkedIn or Quora), while you listen (remember this was spoken about earlier?) for the right opportunity/opportunities to add value to that conversation. Remember IT’s NOT ALL ABOUT YOU!  

Lastly, do not forget that in this new age of communicating and engaging that the customer is not 100% of the time correct but do remember that if you engage properly, while showcasing your skills that you can gain more control even over the most pesky customers. Perhaps you may also want to check out this article out about the shifting customer landscape, as it illustrates and highlights some things (tools) customers use now a days as they communicate (good or bad) online.
“Engage, Enlighten, Encourage and especially…just be yourself! Social media is a community effort, everyone is an asset.”Susan Cooper (@buzzedition) 

3. Now Get Social and Sell

After you have joined other networks and conversations, as well as engaging with others, it is now your chance to get social and start your own conversations. Remember that social media is a two way dialogue that starts with the construction of networks and builds into relationships that you and even your entire team can use to build target messages, which
  • Invite their own comments on particular topics thus building other(s) interest, potentially creating new customers especially if those who engage share with others in their network(s)
  • Take the time to share company news, highlights, and goals regularly whether they are about you, an industry, or other relevant sector
Image via Flickr: Fredrick Md Publicity

Don’t forget to develop a personal face or avatar that is the face of you or your business!

“People want to do business with you because you help them get what they want. They don’t do business with you to help you get what you want.” Don Crowther (@don_crowther) 

Now Go Get’em

If you use some if not all of these tips in developing your network, you, and your sales team will be light years ahead of others that still have not decided to take a social ‘online’ approach to selling. If you have or are considering a CRM system? Stop that nonsense already and get your CRM in check and take your socialCRM and sale efforts to a new level by combing them into one approach. If I can help you or your business please drop me a line or if you have any comments, please feel free to comment below. Otherwise, thanks for stopping by and until next time KEEP SMILING!
David Dandaneau is a Consultant at [SevenTimesSeven] and a Contractor at [FedEx]. He specializes in helping business owners “manage their business and not their processes!” For more connect with him via his About.Me Page or any of his other social platforms.


Social Media Engagement – Using #HashTags

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Social Media Engagement Spheres 
social engagement
Image via Flickr: Cambodia4kids.org

It is no secret that in today’s world people/companies are investing/relying on social media to keep in touch and up-to-date, while looking to gain new customers and increasing sales. This obsession whatever the case maybe is vital for your personal and/or businesses long-term success (I have a feeling you may already know this), as more and more people turn to the internet to find answers to unanswered questions they or you may have. Whether you are looking for lost friends, starting or sustaining a business, or looking for additional support in a cause you deem important you probably know this and that social media can really make a difference huh? Not only does it help but if done correctly social engagement can pay huge dividends in terms of more supporters, followers, and/or sales? Yes?

Compared to Traditional Advertising
Although I personally started using social media some 10 years ago, I really didn’t write about any dividends derived from this median until my business partner posed a question to me about Traditional Media being on the Verge of Death in late 2011. At that time, we agreed that traditional media was not on the verge of death, instead it was/continuing to evolve like everything in our personal and business lives. Using that same frame of thinking now, I would like to know whether or not you think Traditional Marketing/Advertising is on the verge of death? Well if you know anything about advertising you would know that this is also NOT the case, as more and more companies still are/continuing to use these old medians to relay their messages on a larger scale and aimed at their specific local, regional, and global target markets (i.e. TV, radio, billboards, magazines, newspapers, etc.). However, unlike social media where people and companies can communicate instantly with their friends, followers, clients, potential customers, etc. these older forms of advertising merely provide content and/or images to help sell/educate others about themselves, their products and/or services. Still effective but not nearly as effective as social media has and can be… right? Let’s see how some of the people, companies, and brands I follow, shop at, and work with are using social media (more specifically Twitter accounts Arbys, Target, FedEx, & 97X) to communicate with their customers.

From this brief view of these chosen Twitter profiles you can see these companies and individuals behind the tweets are using a variety of hashtags (#), lists, chats, tagging, and/ @username, @mentions, @replies and @connect to engage their audiences. In fact, by using these medians/tools these companies don’t have to pay much for engagement, plus they can integrate these into their other online platforms (creating more reach) rather easily while providing feedback, supporting sponsors, customers, running contests, etc. How great right? What’s even better is if you do have a genuine problem or complement to provide organizations such as these, you can message, tag, or @them you can expect a reply most if not all the time in 24-48hrs… now that’s advertising that works with real ROI and track ability isn’t it?

Application Need(s) of HashTags (#)

hashtag
Image via Flickr: Dan Moyle

Even though some traditional forms of advertising can be used to engage customers (i.e. coupons, snail mail, telephone, email, etc.) for many social media is the one that should be used more to create ROI that is almost instantaneously for many different causes. Other big companies like McDonalds, TMobile, Publix, etc. also provide their online social media followers with news, information, coupons, and give-a-ways to spread their message(s) and provide product/service updates. All of the aforementioned Twitter accounts along with those and many others just mentioned are also using #hashtags to imprint their digital footprint, while increasing brand exposure and reach. Yes, #hashtags one of the most important features I have found to be the most relevant in a business or even personal reach viewpoint. Why, well it’s simple more and more people use what is now referred to as Googling to locate data, information, and reviews of products or services, which ultimately these #hashtags help bring to the forefront of most search engines. By creating personal or business #hashtags whether on Twitter, Facebook, Instagram, FourSquare, etc. you can help yourself and/or company grow while helping others locate reasons why they need you, your product, or service. Make since? Good, now with just a simple creation of a unique #hashtag you and or your company is set to engage, receive feedback, and provide a more customized approach to customer service without having to spend big bucks doing so… thus increasing sales, ROI, and your online reputation.

If you haven’t already, I would love to connect with you on any or all of my social networks, so we can all stay connected, while continuing to learn what people, clients, and customers really want #LetsStayConnected while providing #CustomerService that is #OutofThisWorld! Until next time continue your #Marketing, #Advertising, #Sales, #HashTags, and #SocialMedia engagement so you too can create a solid foundation and positive digital footprint.

David Dandaneau is a Consultant at [SevenTimesSeven]. He specializes in helping business owners “manage their business and not their processes!” For more connect with him via Twitter @ddandaneau or any of the other social platforms you may find him on.


Personal and/or Business Use for Twitter Vine

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[Image Credit: VineTwitter Account]
Well hello again and long time no talk fellow socialites! Needless to say, hope all is well and you are continuing to grow and prosper this New Year. As with most years that pass there are many new instruments, ideas, and strategies that are continuing to transform the way we communicate and if you have been a reader here for any amount of time you already know that! With that said, recently I decided to upgrade my old iPhone 3GS to the new iPhone 5, which to my surprise if extremely AWESOME. As with any upgrade (personal or professional), of course, my initial thinking was to get used to my new device (mentally) and discover some new apps to help make my life and business more organized, which I always love to share with all you. So far and just a couple weeks in with the new iPhone 5, I have discovered a new platform known as Vine(perhaps you have already discovered this application) to continue growing online via social media? Regardless if you are familiar or not with this particular application you’ll want to check it out and/or revisit it after you read the next few paragraphs.
From my research Vine for Twitter was just introduced in January of this year, which means many (perhaps you again) have discovered how valuable this new platform can be for increases in search, marketing, and sales purposes for yourself or business? Yes/No? Okay I know what you’re thinking and that’s… great now another social media site to manage? Well contrary to your thinking (open your mind already) this application is not just another app to fill up your Twitter stream but instead this app is a new way to create interesting stories using short video (i.e. 6 seconds or less) so you/your business can share your thoughts, ideas, and life changing personal or business stories. Just like many of the other social applications such as Facebook, YouTube, Twitter, LinkedIn, FourSquare, etc. all the items (in this case videos) that you create can be publically or privately posted to your Vine followers and/or shared among your existing networks via Facebook or Twitter by recording a video with the push of a button on your iPhone, iPod, iPad or other device that may run this type of mobile application. Okay, so what does this all mean to me? Even though I am also still new to this app, here are three easy steps to take in order to find the who, what, when, and how to simply use this application to benefit you or company while staying ahead of the social media madness we often refer to in our postings.
1) Showcase what you have to offer
Have you or your company created a unique way to showcase your competences or unique qualifications yet? If not, use Vine to create a small one or multiple set of online videos (again 6 seconds or less) for others to see what EXACTLY you have to offer. This is especially important if you have decided to look for that new job (creating an online resume) or looking to bring a new product or service to market (give everyone a sneak peek into your old or new offering(s).
2) Take other people behind the curtain of your life or business
What if you don’t have anything to showcase? Well that’s okay because behind everyone showcase is a story of how you or your business was born, started, or operates right? Use Vine to create a picture of what everyday life is like for yourself or business by showing off your daily routines, friends, office, or other interesting things others in your life or place of work do on daily, weekly, or monthly basis. Give your audience a firsthand encounter of events that will get you found and/or noticed in the social cloud, or in other words, pull back the curtain on your life or business!
3) Let others help you succeed
If you are familiar with networking or use other social media sites, which have you already engaged with many of your followers, friends, and acquaintances let them know about your new personal or business plans with Vine. Once others become familiar with this new application ask them to help you achieve what it is you are looking to achieve. In fact, if you use other platforms such as Twitter or Instagram get a little more creative and create a NEW hashtag dedicated to your cause and ask other people in your network to share or use this hashtag to create additional push or buzz about yourself, company, and/or brand. The old help others and they will help you back approach to Marketing.
[Image Credit: TechCrunch Blog Post]
Obviously, these three things are not the only things you can use Vinefor but they are a good way to start or retool your account if you have already started down this road. Regardless of how you use this platform, I sure would like to hear from others (if you have already set up an account) about your successes or other techniques that you are considering if you haven’t already started. As always thanks for stopping by and don’t forget to wear that smile like you mean it today ((>>:-))
David Dandaneau is a Consultant at [SevenTimesSeven] and a Contractor at [FedEx]. He specializes in helping business owners “manage their business and not their processes!” For more connect with him via his About.Me Page or any of his other social platforms.
 

B2C & B2B Social Marketing (Facebook, Twitter, etc) Universe Revealed [INFOGRAPHIC]

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Over the last several years, online networking  sites such as  Facebook, Twitter, YouTube, Flickr, Instagram, Pinterest, LinkedIn, etc have continued to flourish in both business to consumer (B2C) and business to business (B2B) environments, which has allowed people and companies of all sizes to communicate more effectively, while driving additional traffic that can generate more leads and certainly more sales. However, social media networking can be rather tricky and often fails if you or your company do/does not plan properly or if you do not have a solid social strategy in place to market yourself or brand for communication and monitoring of all B2C and B2B activities.

Not to worry because if you don’t have a lot of time to figure things out our friends at Marketo have put together a detailed Infographic, which can help you understand the B2C/B2B social media universe detailed below.
Of course, we also help businesses understand this unique beast, so if you have questions, please drop us a line or contact us through any of our social media networks and we will be glad to help. Otherwise, thanks for stopping by and happy networking!

(Source: Marketo. B2B image via Shutterstock)

Things to Remember When Tagging People, Businesses, Products, and/or Services on Social Media Sites

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Over the last several weeks, we have been experimenting and talking with customers/businesses about “Tagging” with social media sites such as Instagram, FourSqaure, and Facebook, which allow people or businesses to share photos with one another while tagging other people or businesses with you or them. What fun huh? This can be even more fun if you are looking to meet new people or even looking for or selling new products/services, as people and companies can tag you in them if you so choose.
Well, let’s think about that? People and companies can tag you in them if you so choose, as this is extremely important and if you do not change your settings sooner or later in these social network spaces, you will get violated and perhaps even pissed off at your friends, acquaintances, or favorite brands. So, while some social media sites such as Twitter still allow you to @username (much like tagging), which you can’t control, if you are using Instagram, FourSqaure, and Facebook, make sure you make it a point to set your personal or business accounts to private or change your settings to approve tags, communicators, and followers first. That way if you are using or with people or companies that want to display something on one of your social profiles, you dictate what it is or what it is not “APPROVAL” and/or who, what, when, or where you have been.
Here are some other things to remember when using Instagram, FourSqaure, and Facebook tagging :
1.   On FourSqaureyou can now tag location and people by using a person or businesses Twitter namespace. This is NEW, so you may not have tried it but FourSqaurewill even do an auto complete during your check-in, so if you use this make sure you are checking in with the right person just like with Facebook (ANOTHER reason to set this to approval)
2.   On Instagram you can use GeoTagging, which uses a version of “Tagging” powered by FourSqaure for location or the #Hashtag for popularity (Public Posts) in the caption field or a #Hashtag in the comment field for photos you already uploaded through Instagram 
3.   If you want a more target audience (friends, family, businesses) on Twitter make sure to set your feed to private that way those people and companies can’t @mention or @reply directly to you (essentially TAGGING you), which will cut down on direct messages and @connects

While tagging has been around for quite some time, with all the different/new social media sites, people and companies are/will continue to look for ways to communicate with you. “Tagging” or @username @mention @replies @connect are a couple of those ways. Long story short and if you use any of these sites, make sure you continue to check your settings and monitor your pages for tags of people, places, and things (sometimes you are even incorrectly tagged by accident), that way you can dictate what you want or do not want to see and/or promote. Also remember that if you want to promote someone or something to properly tag,  @username, or #Hashtag the other person or business that way they know you are thinking about them.
We sure hope this post helps some of you keep your social media privacy, while sharing with others (make sure they are the right ones) things you are doing, places you are at, and products, and services you love. Now get out there visit some people/businesses, snap some pictures, connect with others, and enjoy. Otherwise, and like usual play nice and don’t forget to keep smiling, as it really does look good on YOU!

David Dandaneau is a Consultant at [SevenTimesSeven]. He specializes in helping business owners “manage their business and not their processes!” For more connect with him via Twitter @ddandaneau or any of the other social platforms you may find him on.



Social Customer Relationship Management (CRM) or (a.k.a Social Media CRM) Can Produce or Increase Sales by 12%. How so?

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As many of you already know Seven Times Seven headed by David Dandaneau is (are) dedicated to bringing answers to questions in our weekly tip each week that we come across. This week is no different, as we continue to navigate (7) difficult but extremely important segments for an organizations long-term growth and survival. This week in particular, we have had a tremendous amount of inquirers into Customer Relationship Management (CRM) and it’s (the systems) effect(s) on business performance & sales, which just happen to be some of the things David Dandaneau has been researching over the last 3+ years, as part of his Doctoral work. What is crazy to think about is that every day we ask clients and individuals if they are familiar with CRM? They usually respond with the answer Yes! So, why the inquires now? Next question… what system are you using and/or what are you doing with the data you collect? Much to our surprise, many of you are still using the basic CRM systems such as ACT, Capsule, etc. Why is it that more of you have not moved yet to Sugar, Salesforce, Zoho, etc. so you can collect more data and sales leads integrated with your website of blog? Well, if you are like most people a CRM system is something you probably bought or subscribed to in order to help you remain better organized and track issues (contact manager)… Yes? Well, if so let’s take a minute to look at some of the latest research trends and “statistics” in order to see if we might be able to make CRM (whatever system you use) work for you “more sales & retention”… not against you in order to produce some sort of Return On Investment (ROI).
So… What Needs are YOU looking for?
When a person or organization begins to look for a CRM provider or system, you will soon realize that there are tons “thousands it seems” of solutions available to fit almost any need, just like with Professional Employer Organizations (PEO), Mobile Solutions, or Social Media (SM). However, the one question you must ask yourself first with CRM much like the others, is what are you trying to accomplish with it (CRM) and how can you pull everything together? If you are like any normal person or organization, you should also be asking yourself what ROI will whatever system I (you) chose produce for me? The answer is simple… pick a system that allows you to retrieve information (i.e. offer white papers in exchange for contact information) and store it, so you can turn this information into leads and a resource, just like with social media… use the data to convert more inquires into sales, Yes? Also, let’s not forget to ask ourselves how can you (we) share information or help your (our) customers with the information and/or analyze the data we (you) collect with a CRM system to produce ROI?
A CRM Implementation is the most Effective way to Maintain Relationships

Just like social media or wireless device innovations (iPhone, iPad, Droid, etc), CRM (bringing systems together) should not be about what other people/businesses are doing but instead about what you and/or your personal or business needs are or in other words “what the customer wants.” With almost any PERFECT CRM implementation (on the behalf of the customer & organization), you should see customer retention and sales COSTs continue to decline overtime and organizational or personal profits increase over that extended period of time if utilized correctly. In a recent study it was found that “social” CRM or in other words social media or mobile CRM can help an organization or more importantly its sales force increase productivity and benefit by as little as +12% if used correctly. What’s more, is that this same study produced by Nucleus Research found that on average 21% of those people (organizations) or sales forces that use(d) social CRM, seen sales increases as much as 20%. Furthermore, this statistic equates to approximately 4 out of 5 companies that use/subscribe to a social CRM approach and integrate external sources such as Facebook, Twitter, FourSqaure, EmpireAvenue, etc with their CRM application(s) could expect returns (ROI) as high as 47%… crazy huh? What is even more shocking is that this particular course of action does not even take into account your mobile campaigns (25% increases), or RSS feeds through Pinterest, Tumblr, StumbleUpon, Etc (additional 22% increases).
So, What are you Waiting FOR?
Since the research and data points to increases in response, interaction, retention, and sales why are so many people (organizations) still reluctant to use and/or subscribe to a “Social CRM” solution? Or more importantly why are you (your team) not using mobile CRM applications “especially on your mobile” to convert leads into sales? The fact is and from our conversations, there are that still many people that still do not understand how all these systems work together or how to put all the pieces together or leave a footprint behind when meeting or following up with someone. In the Nucleus study, it was clear why; as only 16% of the 223 executives actually knew that, this was a total approach to business evolution, retention, and additional sales, which is hard to believe. Perhaps as more people turn to social media to solve customer issues left on sites such as Yelp, Google, Yahoo, etc. and by participating more in sites such as Facebook, LinkedIn, Twitter, etc. more people will understand that CRM (especially mobile, as this has shown to increase productivity by +20%) should/will be an important part of their overall long-term strategy of conversing, linking, and connecting the dots (i.e. or at least a part of the solution) to increase sales.
From this short but direct post, we hope that you (your organization) realize the benefits that CRM, social media, and mobile campaigns can/will have on your overall success. As we continue to move further away from websites and more towards mobile phones, blogs, and social media for interaction, we will continue to rely upon CRM to help us stay connected to our friends, followers, and clients. If you have not yet made a decision on a social media, CRM, or mobile strategy don’t worry, as you still have time to make a decision. The important part is that you now start to think about it and about how all these systems work or can work together to help you and your team excel. Not only are these systems important to you but also to David Dandaneau, as these are large components to his research and the results that will be reported in his dissertation over the next several months. Therefore, if you would like more information or to participate in his study, please feel free to drop us a line or contact him directly by posting a comment. Otherwise, and like usual we will look forward to seeing you right back here next week with another Q&A session brought to you… well, by YOU! Cheers!

David Dandaneau is a Consultant at [SevenTimesSeven]. He specializes in helping business owners “manage their business and not their processes!” For more connect with him via Twitter @ddandaneau or any of the other social platforms you may find him on.