Tag Archives: reporting

The word cancelled is struck through with a red line

How to Stop Cancellations In Their Tracks

19 July 2022 Justin Wilkerson Comments Off on How to Stop Cancellations In Their Tracks Uncategorized

We’ve all done it at some point: Cancel something.

For the canceler, it can be a liberating feeling. But that cancel usually means lost money for a business.

In our last blog post, we touched on how to get more extended warranty renewals. This time, we’ll focus on how to prevent cancellations.

First, Define Your Churn Goals.

You won’t be able to keep 100% of your customers. Don’t beat yourself up. Not even Amazon or Netflix can.

What you can do is confront this reality and work towards a cancellation rate your company finds acceptable.

For example, how would your bottom line look if you prevented just 10% of cancellations? 5%? 50%?

Start small with smart goals while you work toward incremental improvement.

For example, you could…

Identify Your Most Valuable Customers.

 It’s a hard truth: Some customers are better than others. Maybe they’ve had a VSC policy for years and never filed a claim.

You really don’t want them to cancel.

Or maybe they have service contracts on their home, beach house, RV and motorcycle.

You definitely don’t want them to cancel.

But how do you figure out who those can’t-live-without customers are?

You run a web-based report in our CRM using whatever factors you want.

And while you’re doing that…

You Can Spot Cancel Trends.

One of the easiest ways to stop a cancel is predicting when it might happen.

While Inline CRM isn’t quite the same as a crystal ball, it might be the next best thing.

A crystal ball that predicts Tom Might Cancel Next Week

You can run a report in our system to see:

  • Average customer lifespans
  • Which policy type is canceled most
  • Common reason(s) for canceling
  • Pretty much anything else

Once you know what to expect, you’re prepared how act. And then you should…

Build a Cancel-Stopping Squad.

Some people are natural sellers. But when they get a call from a customer who wants to cancel, they lose their edge.

On the other hand, there are people who turn their charm up to 11 when dealing with even the most serious of cancel threats, even if they’ve never spoken to the customer and don’t offer any incentives to stick around.

It doesn’t matter who you pick to be your “stoppers.” It can be a dedicated inbound staff. You can outsource it or keep it with your sales reps. The important thing is this: Identifying roles and letting people know their responsibility.

So, now what?

Use Our Dashboard to Direct Your Efforts.

Your call center or sales team will see each day’s must-do tasks the millisecond they log in—and be able to record the outcome.

Screen capture of Inline CRM's save tool, which shows fields for Save Methods, Cancel Reason, and Save Notes

You can customize whatever information you want to appear—even cancel prevention tasks.

The data’s all there for you to follow through without pivoting or using outside clunky software.

And while they’re stopping cancels, remind them of this:

Customer Service is Your Secret Weapon.

Simply saying “We care about our customers” is easy.

Proving your promise is harder, but boy it’s worth the effort.

Here’s a mind-blowing image for proof:

Chart showing customer service leaders experience better ROI than the S&P 500

Simply put: Companies that eat and sleep customer service see a 307% return on their efforts. That ROI is better than the S&P 500!

So, empathize with would-be cancelers. Be patient. And remember to smile, especially if they’re upset! Studies have shown that smiling when you speak on the phone makes customers happier. Using e-smiles or emojis in chat sessions even improves a customer’s perception!

Another way to become a next-level service leader?

Improve Your Onboarding Process.

Some companies might think the hard part is over when they make a sale.

They couldn’t be more wrong. The fact is, the moment you gain a new customer, the clock starts ticking on a potential cancel.

So, kick things off with better onboarding.

How? We’re glad you asked.

Suggested onboarding emails include personalized welcome message, an explanation of claims process, and a message from the customer's dedicated account manager

You can even identify customer milestones to send emails through our CRM. Once those rules are triggered, your customer gets some automatic love sent to their inbox!

A Final Piece of Advice.

We know that asking a rep not to sell is like asking a fish to breathe out of water.

But just because “The customer is always right” doesn’t necessarily mean that customer is right for you.

In other words, if you have data to show that someone is likely going to cancel as part of the sales process, do you really want them as a customer to begin with?

A surefire way to know a prospect probably won’t work out is if they’re on the “Known Litigator” list—and since our CRM integrates with DNC.com, you won’t have to worry about them becoming part of your churn problem.

Ready to Stop Customers from Canceling?

Get a free trial of our CRM to see all the tools you have at your fingertips

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Tips to Optimize Your Direct Marketing Campaigns With a CRM

22 February 2022 Justin Wilkerson Comments Off on Tips to Optimize Your Direct Marketing Campaigns With a CRM CRM, Reporting, Visual Reporting

You’d probably sell more policies if you had an infinite marketing budget.

But odds are you don’t have a money tree in your lobby.

In fact, the average business has a marketing budget of around 7% of their gross revenue, according to the Small Business Administration.

That’s why tracking your direct marketing campaigns is so important to your company’s finances: When you know who becomes a customer and how you hooked them, you’re positioning yourself for sustained revenue.

For example, it might be that people in Illinois respond well to direct mail for vehicle service contracts and websites make more sales in Colorado.

Report showing sales breakdown by year, state, mileage and media campaign

Advanced reporting in our direct marketing CRM can help you pinpoint the campaigns that won, lost or have real profit potential with the right tweaks.

Let’s cover some of the proven ways to put those analytics to use, broken down by media type:

Personalize Direct Mail

 If you notice one of your direct mail campaigns didn’t generate the pull you expected, what should you do?

Well, nowadays we expect marketing to be personalized, especially when it comes to what arrives in our mailbox.

It probably makes sense to look for ways to speak (or write) as directly to your customer as you can. That could include:

  • Showing a picture of their car, down to the exact model and color
  • Showing a picture of the outside of their house (yes, it’s possible!)
  • Listing the common types of problems that vehicle or home might have given its mileage or age
  • How much those repairs might cost—and how much they could save by buying one of your warranties

And since personalizing your marketing can increase ROI by 70%, it seems like it’s worth the little extra cost and effort.

E-Mail’s Secret Weapons

 Here’s a pretty amazing stat: You can expect $42 in return for every $1 you spend on email marketing!

But even with a 4,200% ROI, you can still improve your performance.

One way is to include some relevant preview text.

Email preview text example

Believe it or not, including effective preview text can increase your open rate by 45%!

How do we know that? A/B testing, which is picking one variable to change while keeping everything else the same.

There are other A/B tests you could do, like the length or your subject line or the color of your CTA button.

And since Inline has “Buy Now” emails, you could play with which color pulls the most. That one tweak alone can increase responses by 21%!


Affiliate Marketing

The only thing better than making a sale is having someone else do the selling for you.

Affiliate marketing report summary

Inline makes it easy for you to set your affiliates up in our system! This is a major competitive advantage other CRMs don’t offer.

With our reporting, you’ll be able to analyze your affiliate’s performance just like you would your own call center.

And what if some affiliates aren’t selling like they should? A couple of things you can do:

  • Follow up with them; they may have questions or roadblocks you can answer
  • Offer a bonus or incentive on top of what they would normally receive

But be careful: You’ll only want to offer a bigger bonus if you have a firm grip on your profit margins… which you’ll know by glancing in our CMS.


Socialize Smarter

It’s not always what you say, but how you say it.

And sometimes, an emoji can be worth a thousand shares.


Including something as simple as a 😊, ❤️, 🏠 or 🚗  can increase comments and shares by 33%!

Admit it: Your eyes probably widened a little seeing what’s in the line above.

So, if you’re not using emojis, give it a try.

And if you are, but the performance is lackluster, try scheduling your posts a little differently.

It could be your audience isn’t online when you post. Fortunately, there’s a study that shows the best days and times to get social.


Export Everything

 Now, you might be thinking “This all sounds good, but I don’t feel like exporting all that information from all my applications.”

Don’t worry. You can export everything with Inline’s direct marketing CRM! All the data you want, all the reporting you need, is right in our system.

Just schedule a test drive of our CRM’s capabilities to see how easy it is.

You might get an incredible ROI on your time.

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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.


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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5 Warning Signs You Need a New CRM

27 October 2021 Justin Wilkerson Comments Off on 5 Warning Signs You Need a New CRM CRM

You know how lucrative the extended warranty business can be. In fact, the global market is worth more than $120 billion!

You also know the boost using a CRM can give your bottom line. Research shows a 29% sales increase thanks to CRMs.

With so much profit at stake, you should probably evaluate whether the tools your business uses are maximizing your money-making potential.

Here are some signs you should consider getting a different CRM:

1.) It Has Limited Functionality

Here’s an interesting stat: Only 11% of people will make lifestyle changes even if they are told they could reverse diabetes, restore their health or live longer.

Well, what does that have to do with changing CRM systems?

It shows how resistant we can be to change! Most people have used their existing software from 2-5 years. That’s practically a lifetime of fresh features and improvements they might be missing out on!

If it’s been a while since you considered switching, you owe it to yourself to find out what new functionality you can get (like built-in refund calculators).

2.) Extra Processes

Wondering if your CRM might be outdated?

Well, the average sales process has six steps from introduction to close. The proper tools should keep that number low, even lower wherever possible. So, if you’re making things more complex or constantly updating your processes, it might be time to move on.

After all, your CRM should accommodate you. Not the other way around.


3.) Working Around

If you’re adding more processes, those might lead to more workarounds. And that might lead to a workaround around a workaround to the point you can’t keep track of the extra processes you have in place because your extended warranty CRM doesn’t do what you want it to.

It can get confusing, just like that last sentence.

Looking to see what other options are on the market can save you time—not to mention some aspirin.

4.) It’s Not Cloud Compatible

Can you imagine doing your job without the internet? Probably not, especially when more than 45% of workers work remote at least part-time—and that number will only increase in the future.

That underscores the need for web-based, mobile CRMs.

With access to customer data anywhere, anytime, 65% of salespeople who use mobile CRMs met their sales quotas. Compare that to only 22% of salespeople who met sales goals without a mobile CRM and the math makes sense to move to an online CRM (like Inline!).

5.) You Have to Write Reports

You probably have a lot of different reports to make: Sales, payroll and maybe even the dreaded cancellation report.

Those reports can provide the insights to improve your business. But they can also take up time. Maybe too much time. It’s estimated that managers spend at least one working day each week on manual data tasks like reporting—hours that could be better spent doing just about anything else.

Upgrading to a CRM that creates the reports for you in a nice and tidy visual format, including custom query reports, can improve the way your business operates.

What Is Your Current CRM Missing?

Schedule a free test drive and find out what you can do with Inline.

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