Business control systems are vital to your success in the modern age. With so much change happening in the digital innovation side of things, you need to be able to keep up with the market by having powerful systems in place that let you stay productive while dealing with challenges that come up. So if you want to learn how to manage these systems and make sure they are working for you instead of detracting from your goals, use these following ways to assess them:
In your sales department, you should have sales systems. There should be scripts for every type of call and part of your funnel. From prospecting to appointments to closing, your team should always be on the same page. And the best way to know that is to track your results.
If your sales system is working, the numbers will speak for themselves. But you need to review them to make sure you’re getting it right. Every month or quarter make sure you have someone on your time take a deeper look into your sales numbers to make sure you’re hitting the top line revenue but also the profit margins. If your people are giving everything away just to hit their quota, then it could be costing your company more in the way of expenses than you realize.
Project accounting is the process of looking at your projects individually, to track their financial progress. With every venture, you are going to need to dedicate man hours to seeing it through. This is part of the total cost of the project to your company, in addition to the technology and tools you invest in. Account for your expenses for every project and tie it to the revenue it generates. This allows you to know when it’s time to invest more in it or cut it.
If your team is using the CRM right, you should have all the data you need on your customers. You can know what marketing source they came from, how much they are taking up in terms of time with your service agents, and what they have bought.
However, not all of your team members may be entering the information in correctly. This can be a huge negative for your company. It becomes confusing when someone isn’t using the protocol. Soon, you have to worry about whether or not you are going to have to call up a customer to ask them for information that should already be in the system. You also won’t know how far along they are in the sales cycle. So audit this process to ensure your CRM is being used for what it is designed for.
You need to keep your marketing costs under control. A great conversion rate means nothing if it is costing you more than the profit each customer generates. Track your social media, email, and paid advertising. Run analytics to ensure that the most profitable campaigns are duplicated and continue running while cutting others that simply don’t work for your current customer base.
Having a standard operating procedure (SOP) for each part of your business is a great way to keep business systems under control. There should be a set way to perform each function that happens more than once. For instance, this goes for responding to emails, solving problems, giving refunds, and anything that your employees are doing multiple times a day.
In today’s world, business systems are everything. With the right control systems, you can make sure you are hitting your goals time and time again. Don’t risk losing opportunities to competitors because you didn’t audit your systems and keep them in check. Use the tips above to make sure you’re setting your company up for more profit now and into the future.
Author Bio: Jeremy is a tech and business writer from Simi Valley, CA. He’s worked for Adobe, Google, and himself. He lives for success stories, and hopes to be one someday.