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The missing R in CRM

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Information about The missing R in CRM
Business-Finance
crm

Published on October 30, 2008

Author: Gumby

Source: authorstream.com

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The missing R in CRM : The missing R in CRM Why CRM has a bad name Better use of CRM to create a relevant customer experience How to increase your ROI in CRM Typical scenario : Typical scenario CRM is seen as a contact management tool. Main focus is on converting opportunities to sales. Second priority is converting leads to opportunities. CRM is sometimes used to manage customer queries and complaints by recording cases. Reports are usually based on conversion rates or sales targets. Why CRM fails : Why CRM fails The typical CRM approach stops at the sale, which is only half way up the relationship ladder. Driven by business needs rather than customer needs. Short term gains of the sales approach fail to recognise customer relationships. Access to information means consumers manage the relationship. A better scenario... : A better scenario... Use CRM as a tool to improve each customer interaction. This can be done by building intelligence around each customer. Track individuals to build a profile of brand advocates. Use CRM as part of your customer experience model. Set objectives and targets against group strategies. The intention of CRM should ultimately lead to a better customer experience. 6 Ways to improve ROI on CRM : 6 Ways to improve ROI on CRM Design reports and customise attributes to build customer profiles. Create workflows that are triggered by steps up the relationship ladder. Expand your suite of measurements and reports to include relationship related metrics. Use the marketing functionality of CRM but avoid mass communications. Build in retention rate measurements into your CRM system. For more on this you can have a look at my blog. Lastly, be authentic in your CRM efforts. Consumers can smell a false or misleading campaign from a mile away.

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