It’s been about a week since I left SugarCon 2018 in Las Vegas. I wanted to take a step back and have time to reflect on what I learned at the show. There is so much innovation and change coming, what does it mean for us?
Here are the top ideas I learned at SugarCon 2018:
1. Sugar Fall ’18 is here and ready to go.
Sugar announced its newest update is here with features, including:
- Quotes module user interface configuration
- Reports integrated with data visualization
- Revenue line items in preferred currencies
- Advanced workflow recipient list
Here is a YouTube video link for more information.
Overall, Sugar is focusing on moving away from a transactional-based Legacy CRM, and moving to a modern CRM that instead puts the relationship aspect back into customer relationship management.
2. Peer reviews are now more important than ever.
Vendors have less control of the buyers’ first impression and the result of a bad service experience is multiplied. Why? Because peer reviews are now the most trusted source of information on a purchase and continue to rise in importance.
In fact, 84 percent of buyers said they seek input from peers and existing users, while 57 percent do so within the first three months of the buying process before ever talking to the vendor they are buying from.
3. Focus on recurring customers.
There is so much effort in gaining prospects. While that is important, did you know it costs five times as much to attract a new customer as it does to keep an existing one?
Statistics tell us that you are 14 times more likely to sell to an existing customer than a new prospect.
Don’t forget to put focus on the customers you already have!
4. Technology is allowing us to work less, not more.
We are now more digitally connected than ever before. It’s a common thought that because of this connectivity, we are working more now than ever. Leonard Brody broke it down for us, showing us that we are actually working less.
5. Toothpaste isn’t just toothpaste.
“Innovation that you don’t have access to is toothpaste left in the tube.” — Zac Sprackett, vice president, DevOps at SugarCRM.
When Zac took the stage at SugarCon 2018, no one would expect that a big takeaway would involve toothpaste. He asked what size toothpaste tube you buy. Because if you buy the big tube, you are saying you don’t believe that there will be any innovation with toothpaste in the time you are using the product.
Think about this in terms of your technology and it’s a game changer.