Prospect CRM's Magic Matrix helps you identify products you could be selling more of to your customers. With simple colour coding, you can quickly and easily identify upsell opportunities - either by customer or by product category.
You'll need CRM Admin rights in order to follow the steps in this article
Step 1: Open the Magic Matrix
Access the Magic Matrix via the navigation menu under the Sales page, or click here.
If you don't see the Magic Matrix under the Sales menu then you may need to enable it. The Magic Matrix can be enabled in System Settings under Magic Matrix, found here.
Step 2: Choose your Product Categories
Next, use the categories drop-down menu to choose up to 10 product categories. You can also use the other drop-down menus along the top to filter the results down further, like RFM Segments, Account Managers or Industries.
Please note: The CRM will generate some Magic Matrix Categories from your Product Categories when we first connect your CRM to your ERP. After which, we will not continue to sync them or automatically create. You can configure the categories here.
Step 3: Understand the Colour Coding
The Magic Matrix has four different stages, each with an associated colour so they're easily identifiable on the Magic Matrix Dashboard and elsewhere within the CRM:
Unaware (Red) - Customers who've not purchased from the product category before, and have not yet been included in a Campaign Activity to make them aware of the product category.
Aware (Orange) - Customers who've not purchased from the product category before, but have been included in a Campaign Activity to make them aware of the product category.
Opportunity (Blue) - Customers who've not purchased from the product category before, but have an Opportunity logged for the product category.
Bought (Green) - Customers who have purchased from the product category before
For example, looking at the example above, the customer 'Jam Makers Paradise' has purchased from the 'Jam Jars' product category but not from the 'Ingredients' product category.
The more green dots on your Magic Matrix Dashboard, the better! The aim is to get as many of your customers to buy as many of your products.
To move customers from Unaware to Aware, you'll need to use the Bulk Awareness tool to add them to a Campaign Activity to help manage your marketing effort. Here's how!
Magic Matrix for Colourblind Users
A colourblind mode is available for users that are visually impaired or colourblind and struggle to identify different colours. This setting causes the system to use different shading patterns as well as different colours to identify different states/values on visualisations.
The setting for the new colourblind mode is per-user so can be set individually by each user via "Settings" and "Personal Settings", or navigating via "My Profile" in the user profile/avatar menu.
Magic Matrix by Company
You can also view the Magic Matrix by Company by simply navigating to any Company in the CRM and clicking the 'Sales Analysis' page. This shows how well you're doing at cross-selling your different products to this particular customer, along with the progress (aware or interested) with products that you're trying to sell to this customer.
Important Note: The Magic Matrix updates customer categorisation over night, however if you wish to update your Magic Matrix earlier, please press the refresh button at the top right.