Tag Archives: reporting

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 tell how campaigns are performing 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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