One of my Favorite Quotes “Nobody can go back and start a new beginning, but you can start today and make new ending “ Start this year with all your aspirations and for sure you will end this year with a good note.
The year 2010 was so kind to leave us with some good memories of CRM and expect the year 2011 to be much more exciting and open new avenues for CRM world. Just a thought what would be top 5 “CRM Know How for year 2011” and some indicative thoughts for you. This is not about technology but about Value for the CRM investment.
Know How 1 : CRM Strategy, Why it is important?
Firms do not just “become” customer-centric. In fact, left to themselves, most firms would continue the product-centric practices on which they were founded. As such, companies have to go about consciously transforming themselves into the kind of company they hope to become—one that is focused on the customer. This is where a strategy comes into play. It takes a concerted effort to understand where you are today, where you want to be at some point in the future and how to get there. And under that umbrella strategy, there may be smaller sub-strategies. Some examples include social media, marketing or segmentations strategies. All are examples of the same process: transforming the business. That is why, at its core, CRM is about change management—changing from a product to customer orientation, from manufacturing metrics to service metrics and from “siloed” organizational structures to process-centric organizational structures. Your CRM strategy ties this all together.
Know How 2: Customer Experience, What Is that?
Organizations are struggling to differentiate themselves based on their product features, pricing, costs, supply chains or employee management skills. A great customer experience remains difficult to deliver well, and is therefore a source of differentiation. The result is increased executive interest in customer experience. Actually delivering a superior customer experience, however, is difficult—it’s a differentiator for a reason. So, the battle is on to master the discipline of gaining and maintaining a superior customer experience. The result is increased spending on people, processes and technology, despite the recession, and there is no sign this will slow down.
Know How 3: Social Networking / CRM, Why so close?
Social CRM defined as a business strategy that mutually benefits cloud-based communities and businesses by fostering engagements while also generating opportunities for sales, marketing and customer service. Social CRM marketing applications engage customers to co-develop new products or services, generate brand awareness, aid information gathering and evaluation decisions, offer price comparisons, assist the selling process and enable peer-to-peer marketing support for post purchase dissonance. Social marketing applications share internal- and external-company users and they can be public or private, outsourced or hosted, and can make connections to independent communities such as Facebook. Marketing has been the most aggressive adopter of social applications of any business department. New uses continue to develop, but the most common use cases we have seen to date are in areas such as idea management, new product or service marketing research, new product launch targeting and social campaigns, social event networking for leads, PR, and brand reputation promotion and defense.
Know How 4: Brain Teaser Analytics, Where to Start?
Don’t start by trying to analyze the data you have. Start instead by determining the decisions you are trying to reach. Which decisions do you need to make that should be informed by input based on customer data? Answering this question will determine the road map of your analytic requirements by identifying not only what analysis needs to be done, but also the questions that will determine whether the analysis is truly useful to the business. Issues, such as the time window in which analysis will help serve the decision, the format in which the analysis needs to be provided to the decision maker, the skills of the analyst, the source of the data that will be used to drive the analysis, must all be defined for analysis to be truly useful to the organization.
Know How 5: Integrated Marketing Management - IMM? How zat?
From Enterprise marketing management (EMM) to integrated marketing management (IMM). Every new marketing initiative, whether it’s a new channel or new type of marketing campaign, almost always starts as a separate group and project. Yesterday it was online, today it is social, tomorrow it will be mobile channels. The same is true of new campaign types, such as event-triggered and inbound marketing. Integrated marketing management or IMM brings these initiatives back into the fold over time. IMM integrates people, processes and technologies. It fosters collaboration, improves brand management and the customer experience, supports strategic planning and resource optimization across the entire marketing mix, leverages collective knowledge and assets, promotes relevancy in customer interactions, and makes the customers themselves part of the process via feedback and communities. Companies who take an integrated marketing approach will drive increased growth and improved efficiencies and, ultimately, maximize their returns on marketing investment.
Good Luck Amigos
Loving P&C
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