Tag Archives: Commissions

A man looks at reports from his XRM on a tablet

Does Your Extended Warranty CRM Have These Features?

20 January 2022 Justin Wilkerson Comments Off on Does Your Extended Warranty CRM Have These Features? Uncategorized

It seems like there’s a new CRM hitting the market every day. After all, 90% of businesses with more than 10 employees rely on a CRM, so there’s no shortage of need.

With so many options to choose from, how do you know your choice will work best for your business? What are the must-have factors and call center solutions your CRM should include?

Let’s find out!

You Can Customize It

Your competitors might sell the same things as you, but they aren’t the same as you. Your business will have different focuses, different goals or priorities—and you need a CRM (like ours!) that allows you to be as flexible as you like.

We find that customers who use custom fields, custom email templates and even custom queues of data can boost profits by as much as 95%! And our advanced API can also help you customize just about anything exactly how you want, especially your all-important dashboard.

Dashboard of Inline CRM, showing sales goals, social feeds, to-do lists

You Can Integrate 3rd Parties

No CRM can do everything (but ours comes close). That’s why your CRM should be able to integrate software from other parties to keep your sales agents on top of their game. And since a sale doesn’t happen without communication, you should ideally be able to integrate:

  • Lead generation software to fill your prospect pipeline
  • Email platforms from Outlook to Gmail
  • Calendars, especially since 70% of adults rely on digital notifications to manage their life

When you have all the tools you need integrated in one location, you’ll be much more productive.

You Can Use It Anywhere

Can you believe some CRMs still require downloads and only operate offline? There’s no excuse for this, especially in 2022.

Old systems like those usually require an IT staff to maintain and run updates, not to mention their legacy infrastructure usually means they can’t adapt or integrate the applications mentioned three inches above.

New systems like ours are easily accessible wherever you have internet or data—even on mobile.

After all, you never know when or where you’ll need information to help seal a deal.

 

All-In-One Customer Profiles

Let’s pretend you have a customer who owns a home, a car, a motorcycle and an RV.

That could make for a pretty big extended warranty sale, right?

But if you’re using the wrong CRM, it could also lead to a pretty big headache. That’s because some CRMs (not ours!) will make you click around and around to get to the same customer profile. Wouldn’t it be easier if you could just sell that customer profile and manage those opportunities from a dropdown menu like this?

Add vehicle, RV, Home and motorcycle to customer profile from dropdown menu

With Inline, you can!

Sure, you could work in some workarounds, but then everything wouldn’t be in the same workflow. And that seems like a lot of needless busywork.

 

Buy Now Functionality

37% of people have hidden a purchase from their spouse.

Some people won’t give their credit card number over the phone.

No matter the reason, you have to take away all the obstacles standing between you and a “Yes” to make a sale.

Our BUY NOW functionality does just that.

Now your prospects can complete their order online once you send them a quote to their inbox.

Buy extended warranty online functionality

It’s easy, convenient, and a proven way to sell more policies than with other extended warranty CRMs.

 

Robust Reporting

If you had to answer with 100% certainty what your top selling product was, could you do it?

What about your close rate? Your cancel rate?

The fact is, you can’t get better if you don’t why you should be better—and the right report can tell you.

The right CRM can tell you anything you want to know and how to improve.

Maybe you’re calling people at the wrong time of day or focusing on older ranch style homes when cabins have a higher close rate.

You can create literally just about any report you want with our CRM. Did you just think of one? Yes, even that kind.

 

Lead Management

It’s been estimated that sales reps should make 60 calls per day.

60!

That’s… a lot.

So, how should you prioritize those calls?

A lead management system will tell you—and our CRM has one.

Now you can assign certain leads to certain groups, know exactly when or how to follow up with a customer based on their place in the funnel and a lot, lot more.

With this functionality, who knows? Maybe your sales reps will be able to make 70 calls a day.

 

Automatic Commission and Cancel Calculations

There is an almost infinite amount of ways you could structure commissions and bonuses. By the number of policies sold. The amount of the policies. The type of policy. All of those conditions combined.

The list goes on and on.

That level of complexity could make even the most seasoned accountant feel dizzy.

With Inline we can help you code the precise commission payout based on whatever criteria you want, including cancellation rates.

And it happens automatically.

Simply put, you won’t find that functionality in any other industry CRM.

 

Customer Service

Okay, this bit of technology is a little analog.

Somewhere along the way, you’re going to have a question, an issue, or problem that needs to be taken care of right away.

And if it isn’t taken care of to your liking, there’s a good chance you’ll end up canceling.

That’s why we bend over backwards to answer as soon as you call or email. Because even the best CRM can’t replace help from real people in real time.

 

Is there a feature your CRM needs that we didn’t cover? Schedule a test drive and we can show you all the bells and whistles that come with Inline.

 

 

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Reporting capabilities of Inline CRM

How to Make Money From Your CRM Reports

23 November 2021 Melissa Chambers Comments Off on How to Make Money From Your CRM Reports Payroll, Reporting, Visual Reporting

Running the right report can mean more money for your business—lots of it.

But making that report (and interpreting it) can also take time away from your business—though it doesn’t have to.

Which reports can help you sell more extended warranties? How can you save hours creating them?

Read on and find out!

 

The “Whatever You Can Think Of” Report

CRM usually stands for Customer Relationship Management.

At Inline, our CRM stands for Custom Report Magic. That’s because you can create just about any report you want:

  • Policies expiring in the next 90 days
  • Cancellations that happened on a Tuesday
  • Warranties sold for Toyotas with exactly 145,926 miles
  • Prospects with the first name Tina

We’re not sure why you’d want the last kind of report. But we do know that even though our software comes with 143 standard reports, you know best what information will help you make more sales.

And our tools make it possible to learn pretty much anything you’ll want to know.

 

The “Performance by Campaign” Report

You spend money to make money, right? And your money might be spread across multiple marketing campaigns and channels: Direct mail, emails, web leads and more.

Now, some of those dollars will do a better job than others. And our CRM will help you decide how to direct your budget to more effective tactics—without pivot tables, filtering or formulas!

At a glance, you can get sales reports by:

  • State
  • Affiliate
  • Lead source
  • And more

Here’s a more specific example: Let’s say you notice a dip in response rate in a certain time frame that just happens to coincide with data you used from a new vendor.

Given that bad data can cost reps $32,000 in sales, you might want to have a discussion with the provider to see what can be done to improve their performance (or not use them again in the future).

 

The “Let’s Keep Cancellations From Happening” Report

Cancellations are going to happen. There’s no getting around it. In fact, 40% of customers will end up cancelling a service at some point, regardless of the industry or product.

Okay, you knew that already—but what can you do about it?

Run a report, of course!

Inline CRM report showing cancellation trends in a line graph.

You’ll be able to see cancel rate trends in addition to other important data.

Let’s say you notice one particular rep has a higher cancel rate than others. You could offer to coach or shadow them to see if they’re over-promising certain aspects of the warranty being sold.

 

The “Hey, This Is Really Selling” Report

You probably have a decent idea which policies sell the best. But to be as profitable as possible, you need to know without a doubt.

It just so happens there’s a report for that.

Inline CRM report showing which extended warranty products are selling the most

A couple clicks is all it takes to see a lot of useful information, including:

  • Most profitable term lengths
  • Most popular warranties
  • Profit ranges

If your money-makers aren’t selling, consider promoting different features or benefits. If certain term lengths aren’t being bought, consider dropping the price.

What you do with the information is up to you—and you won’t have to work hard to get it.

 

The “Have You Followed Up?” Report

Selling isn’t normally a one and done process. But for whatever reason, 44% of sales reps give up after the first follow-up, even though 60% of customers say “No” four times before saying “Yes.”

The main takeaway here is to keep taking the time to follow up with prospects—and emails are a smart choice for how.

Email follow-up report from Inline CRM

Inline can set up automated follow-up emails to customers who have received a quote and help you avoid relying on the sales person to do the follow-up.

After a while, you’ll see how successful your efforts are (or have ideas on how you can improve the response).

 

The “Pretty Much Automatic Accounting” Report

Excel is like oxygen to accountants.

After all, 90% of companies use it for budgeting and 63% consider it a vital accounting tool.

But tabs and tabs of formulas and through-the-roof stress levels at the end of financial quarters say there has to be a simpler way to do things.

There is!

Accounting reporting capabilities from Inline CRM

All it takes is a few inputs to know your:

  • Gross Profit
  • Collected Profit
  • Disbursements
  • Expected Funding
  • Premium Rate
  • Expiring Credit Cards

That’s just a fraction of what’s at your fingertips, all without manually compiling or computing anything!

That will give your accounting team more time to focus on bigger-picture financial matters that can make your company even more money.

The “Painless Payroll Calculation” Report

Your sales reps deserve every last cent of commission they earned. But figuring out exactly how much commission they’ve earned can eat up a lot of time—literally days— if you’re not using the right software.

Did that client make their first monthly payment? Is the sales rep getting tiered or residual commissions? Did they hit a multiplier bonus?

Cutting a commission check shouldn’t be so confusing!

With Inline, it isn’t.

Coding customization for extended warranty commissions

We can code every commission condition exactly the way you want for fast and accurate paydays. And happy sales reps are productive sales reps.

We can even code commission for your fronter, takeover, collection, and retention teams.

 

What Report Do You Want?

Schedule a free test drive today and see what reports you can run to make your business more profitable.

 

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