[Tested] Best Possible Ways to Boost Your Revenue with NetSuite – 2020
In an ongoing online course, we reveal three different ways you can use NetSuite to increase revenue. If you couldn’t agree with us, we’ve put together a summary of the three strategies below.
Sort your contacts
Before you can use the information in NetSuite CRM to make informed choices about deals and display efforts (and eventually generate revenue), make sure your contacts and records are composed in NetSuite. Three important classifications to characterize are:
Leads – Contacts and records where you have not yet established a relationship
Possibilities: contacts and records in which you have a business opportunity
Customers: contacts and records who recently bought you
When classifying your contacts and records, you can use various perspectives within NetSuite to make smart choices about your offers and advertising efforts. NetSuite powerfully displays information to give you account insight. This allows you to distinguish where you have opportunities to offer to a current customer, a prospect, or a potential customer.
In NetSuite, it’s anything but difficult to use information in a way that bodes well for your business work. For the particular task of discovering approaches to generating income, you can certainly extract information, for example,
History of offers by industry. This can be helpful in determining which key businesses to target with deals and showing efforts.
History of offers by requested sum. Find out what types of records go through your business the most. Influence that data to target comparative organizations.
History of offers by application date. Who has worked with you before, but has it been some time? Focus on those organizations with a re-engagement crusade or upsell.
When you have your information together, you can make groups for legitimately focused email crusades in NetSuite. Regardless of deal history, you can also target groups by area, industry, and different boundaries. Within NetSuite, you can:
- Make a promotional effort.
- Set the start date and end date of the mission
- Select the collection of objectives for the mission
- Create email formats
- Send and track messages.
- Track other promotion channels (site, post office based mail, etc.)
When business decides it is time to move to web-based CRM software, it must first develop a plan for how they expect this new implementation to increase productivity and revenue for their business. The biggest obstacle to achieving a quick return on investment is all the hidden costs that are not clearly listed on vendor websites. Most of my time was spent researching pricing for different platforms, upgrades, implementation, customization, and customer service.
Going out and buying a CRM Edition this is just a base point from which pricing starts. This brings me to what to avoid when looking for your future CRM software. What you need to research and ask questions is; storage limits and the cost of additional storage, the maximum number of tabs and custom fields, the maximum number of applications you can add – this is particularly relevant for Salesforce, and any other limitations that may force you to upgrade later.
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NetSuite and SuiteCommerce Apps:
There are some new initiatives by SuiteMarkets which is a 3rd party app platform that allows you to purchase SuiteCommerce and NetSuite ERP apps/features. It’s a great way to find existing solutions for NetSuite ERP or SuiteCommerce. It’s something to keep in mind as the platform continues to grow and more features get listed. Since it is free to list solutions, there are more smaller applications being listed such as order tracking, blogs, custom themes, customer center add-ons, in addition to software companies. SuiteApp is another area to find pre built solutions and is run by NetSuite, however, it tends to be geared towards integrations with other software companies rather than a place to purchase bundles, scripts, themes, and extensions.
Potential NetSuite Use Cases:
As you understand more about NetSuite, take a look at this article if you want to learn more about SuiteCommerce as the preferred ecommerce solution for your Oracle NetSuite ecommerce platform. Some companies like this small business health benefits company preferred to start with NetSuite ERP and add SuiteCommerce six months later. This is a good way to progress into ecommerce if you currently don’t have an online presence. Emerging companies are typically smaller and on the entry level side for NetSuite ERP and SuiteCommerce. This publishing and marketing company focuses on outdoor and education equipment for the Camino de Santiago, a pilgrimage across the entire country of Spain. They would be a good fit to utilize SuiteCommerce to sell more products. Not only would SuiteCommerce be a good fit, but NetSuite ERP can help manage shipments, payments, inventory, new writer applications, and other publishing company information. In general, SuiteCommerce Standard is a better fit for the emerging market rather than SuiteCommerce Advanced (SCA) simply due to the price difference.
Find a NetSuite Ecommerce Partner:
No matter what platform you decide to implement, make sure you have an expert team by your side helping build the ideal ecommerce experience. You should always have a NetSuite partner that is specialized in SuiteCommerce as their primary focus. If you search the term “SuiteCommerce implementation partner” in Google, you will find the top partners that have a SCA focus for their NetSuite services. If you are checking out all types of ecommerce platforms and want to see how SuiteCommerce compares to Shopify, take a look at ecommerce reviews that helps break down the difference.
