What to Consider When Implementing StratusLite

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Ready to get started with Stratuslite? Whether you are starting with Oracle Sales Cloud or Oracle Eloqua (or both!) we are excited to have you and can’t wait to see your progress in a few weeks. With every project there is always the question – well…how do we get started? Here is what you need to consider as you prepare for implementation.

Are you implementing Oracle Sales Cloud as your new CRM?

What data do you need for your organization?

Consider the fields of importance: Accounts, Opportunities and Contacts. What information do you need to know? What information do you already know? And what information is critical to move the lead closer to close? We always coach our clients to export their current data from their existing CRM to see how much of it is actually beneficial to keep. Does your team capture estimated revenue more than an industry field? Is ‘industry field’ a necessary field you need as a manger but your team isn’t inputting anything? Consider these variables as you decide what is critical for your CRM layout. But do not worry. Be sure to attend our ‘Fields and Layouts’ training to understand the best practices when determining what is necessary when you are building your system layout.

How can you determine success with the data?

A secondary question to empower you in taking the next steps with data in your system is determining how you want to measure the business and define success. There are plenty of reports out there which can help guide you and give you that “gut” feeling that you are doing well, but now is the time to consider – what does YOUR organization need in order to report accurately? Do you need to understand what is in your pipeline 6 months in advance so you can allocate resources properly? Do you need to understand how long a contract is taking and why it may be taking longer to get signed? Talk to your sales team about what they need to be successful. Maybe they need to understand what is a better opportunity based on marketing? What about the quality of your pipeline? Your data can be compiled in many ways to answer these questions, but the ultimate question is – what data is necessary to answer this question: what metrics do you need to know to determine if your team (and organization) is successful?

Have you written your sales process down?

Many organizations come to us and explain their sales hierarchy and the process in which they acquire new business. Our first question is always this – have you written it down? Have you looked to see who owns what within your process? Are there any gaps in it? As you start your new system, you’ll want to consider what this means from a process standpoint. Once you have written this down, it will make the opportunity creation process within Oracle Sales Cloud much easier. When in doubt, go back to your process before looking at the technology. Remember, the technology is there to aid and support you and your team but the process is built by the people. Check out our opportunity training as a StratusLite customer to get some ideas if you do not have this process “written down.”

Are you implementing Oracle Eloqua for marketing automation?

Do you have existing campaigns which need to be migrated?

First and foremost, if you have current campaigns running, it is time to audit them. This is, in some ways, like spring cleaning! Evaluate your current campaigns by reviewing metrics to see what has been successful and what hasn’t. Determine through these reports if campaigns should be migrated. Look at open and engagement rates to see if there could be improvements.

Once your campaigns have been audited, take this list and “add a column” to your list and answer this question- what triggers a response to initiate this campaign? Can it be automated? Think about what campaigns can be automated and what the trigger is for a customer/prospect to enter the campaign. Once you know what this trigger point is, you have your next step on how you can automate everything instead!

What type of forms do you have online which could create some type of automation for your new prospects?

With any new (and, in this case, improved) marketing automation system, you should consider how new prospects receive information about your organization or offers that might be available to those prospects. Unidentified prospects are entering your digital properties and are looking for more information from you more than ever before. Make sure to evaluate the next step a prospect would take if they were convinced by your digital properties that they needed you! Some questions to consider for your web forms would be things like – how quickly can my prospect enter information? How much information do I need from the prospect to understand their needs? How quickly does the prospect complete the form and can I make it faster to complete?

What type of marketing activity creates a Marketing Qualified Lead?

In addition to web forms, we know you have other ways of finding and entering a new lead. Whether it’s at a tradeshow, an event at your office, a meet and greet with the CEO or a downloadable white paper, Eloqua can store this information and create a lead score to generate information on what defines a Marketing Qualified Lead. One suggestion we recommend our clients consider is what creates a marketing qualified lead for their sales team. Sometimes, MQL’s are created by one action like a web form submission, and in other scenarios a MQL can be created after three or more offline activities from a trade show. Make sure to take some time outside of the technology to determine what your sales team needs to define and convert a lead and what this means as a defined prospect in your pipeline before diving into the technology.

 

Getting started with a new project can be hectic, but it doesn’t have to be! Hopefully this will get you asking the right questions to ensure that you have everything planned out before incorporating the technology. Be on the lookout for more articles to come in the following weeks on how to leverage some best practices with your StratusLite package.