Archive

Posts Tagged ‘Customer relationship management’

Growing Constituents And Revenues Are Top Priorities For 2013

As more signs point to strengthening economic activity in the US and selected regions of other parts of the world, corporate austerity is fading and growth is back in the spotlight. Acquiring customers, improving the customer experience, and growing revenues have returned to center stage. Forrester Research recently asked more than 2,000 global business decision-makers at large organizations what their “critical” and “high” priorities are for the next 12 months. We found that:

  • Their top priority is acquiring and retaining customers (73%).
  • Tied for the top spot is growing overall company revenue (73%).
  • The third most important priority is addressing the rising expectations of customers and improving customer satisfaction (68%).
  • Lowering operating costs now only takes sixth place on the priority list (63%).

It is evident from these data that effectively managing customer relationships has become the top priority for business success.

Better customer experiences drive improvement for three types of loyalty: willingness to consider another purchase, likelihood to switch business to a competitor, and likelihood to recommend to a friend or colleague. Forrester’s models estimate that the revenue impact from a 10-percentage-point improvement in a company’s performance, as measured by Forrester’s Customer Experience Index (CXi) score, could exceed $1 billion.

More here: Carpe Diem With The CRM Playbook: Growing Customers And Revenues Are Top Priorities For 2013 | Forrester Blogs.

Are there risks to mobile CRM?

April 16, 2013 1 comment

There’s no stopping the mobile CRM revolution, but those who rush into it headlong with an eye only to the many benefits may be in for an unpleasant shock. As if we didn’t have enough to worry about, mobile CRM is laden with risks, too — from getting on the wrong side of the customer to getting on the wrong side of the federal government. Then there are the myriad security concerns that go along with making sensitive company data accessible on a device that may be woefully insecure.

More here: The Hidden Risks of Mobile CRM, Part 1 | Mobile CRM | CRM Buyer.

The only thing worse for a marketer than giving fundraisers no leads, is giving them bad ones

April 14, 2013 1 comment

According to 1to1 Media, the only thing worse for a marketer than giving sales people no leads, is giving them bad ones. Lack of information on prospects such as their organization size, industry sector, job title, or just simple contact information can stop a record dead in its tracks, even though it may be a quality lead. Marketing processes like lead scoring, which prioritize the most important leads, are dependent upon correct information at the contact, demographic, and company level.

As a result, data quality is especially critical when every aspect of demand generation is under a microscope to prove its contribution to revenue. In the process-oriented world of marketing automation, every percentage point counts, and every factor that contributes to conversion must be scrutinized. Successful lead generation within both CRM systems and marketing automation relies on an abundance of good, clean data.

via Why the Data will Dictate CRM and Automation Success in 2013.

CRM Roundup for April 6

April 6, 2013 3 comments

Evolving Social CRM to Become CRM—Again By: Esteban Kolsky (@ekolsky)

With the constant conversations about Social CRM, Esteban points out a key understanding that’s finally sinking in – Social CRM is just regular CRM now. In adapting to the new abilities the “social” aspect of CRM provides, Esteban recommends four critical steps for effective CRM implementation. These include using each channel for its respective purpose, rethinking your strategy within the new capabilities of CRM, focusing on bottom-line metrics over “fluff” metrics like followers, and embracing the change.

Scribe Online Platform Updated with New Visual Interface By: Jason Gumpert

MSDynamicsWorld’s Jason Gumpert covers the newest version of our Scribe Online Platform, with a focus on the easy-to-use visual UI of Integration Services (IS). With IS, as Scribe’s VP of Product Management Betsy Bilhorn explains, “The concepts (of the customer data integration) are natural language based and easy to pick up if you have any level of technical background – for each record, if this, do that.” This opens up data integration to more users to enable better decision making, lower TCO, and faster realization of benefits.

CRM Winners and Losers By: Chuck Schaeffer (@cschaeffer)

For those in the market for a CRM system, this post analyzes the relative Buyer Consideration (aka popularity) of the top 15 CRM systems in Q1 of 2013. Not surprisingly, Salesforce.com and MS Dynamics CRM hold top spots by a wide margin (72% and 51% of Buyer Consideration). For those interested in branching out from the two CRM titans, both Infusionsoft and Oracle RighNow are on the rise, but have a ways to go (19% and 5% of Buyer Consideration respectively).

Businesses Can Turn to Scribe for Integration in the Cloud Anytime By: Mark Smith (@marksmithvr)

In a week full of data integration news (see Mulesoft’s funding), Mark covered another important data integration update – Integration Services (IS) for our Scribe Online Platform. Ventana found that 44% of organizations spend the most analytics time on data-based tasks, meaning that increases in data efficiency and integration can hugely benefit these organizations. Like Jason Gumpert and others have noted, the visual UI of IS greatly simplifies the process of data integration, leading to better, cheaper access to customer data. As Mark puts it, “Scribe Online is a great step forward. Having software that can align business and IT is essential, as less than a fifth (19%) work together well for the information needs of an organization, according to our information management research.”

MuleSoft Rakes in More Moolah to Connect Your Applications to the World By: Barb Darrow (@gigabarb)

Barb covered this week’s announcement of Mulesoft’s $37 million funding round. The influx of cash into the data integration space is indicative of the massive wave of change coming and the importance of integrating CRM and other customer data systems – Mulesoft CEO Greg Schott estimates the value of connecting all enterprise applications at $500 billion. What’s interesting about these new funds is the fact that Mulesoft raised money from two competitors – Salesforce and SAP – underscoring the recognized need for CRM and cloud providers to connect their services using integration solutions like Mulesoft and Scribe.

 

Is your contact center loyalty focused?

Is your contact center loyalty focused? One of the trends I am seeing is that as companies more fully understand the link between customer experience and loyalty, especially with customer service, they are increasingly viewing contact centers as value-creators and not just cost centers.

Some of the effects we are seeing is less focus on average-handle-time and other productivity metrics, more focus on customer feedback and quality metrics, more on-shoring of previously off-shored interactions, and more investment in agent training and coaching.

Tidbit: Consumers that are satisfied with customer service interactions are more than 4 times as likely to repurchase than those who are dissatisfied.

Customer Experience Trend: Software as an Experience

January 28, 2013 Leave a comment

One of the big trends we are seeing in the world of customer experience is a focus on the experience of the software. The whole rise of Smart Phones is geared around this premise.

The initial rise of cloud-based software (a.k.a. SaaS, or software-as-a-service) focused on renting access to software instead of the historical approach of selling licenses. As cloud-based software expands, we’ll see these offerings cater more explicitly to the needs of customers.

How? More simple, highly-focused, specialized applications (like smartphone apps), more focus on quick initial usability, more sharing of best practices (usage, not technical), and customization based on behavioral analysis of users.

Tidbit: Net Promoter Scores for tech vendors are more correlated to customer experience than product performance.

Don’t Make These Mistakes With Cloud CRM Solutions

December 7, 2012 1 comment

There is a huge movement to cloud solutions for the world of CRM. Salesforce.com and Microsoft Dynamics can make easy and cost effective to implement solutions. There are still pitfalls to avoid. This is not your father’s CRM anymore, so don’t make these mistakes:

Customer Relationship Management

Trying to develop the “perfect” solution. Cloud CRM brings increased agility and flexibility, making it easier for organizations to tweak and upgrade the system after it is deployed. Unlike in the past, organizations don’t have to deploy the perfect CRM solution all at once. Instead, they can deploy a “good-enough” system at first — as long as it is positioned so that the organization can quickly iterate and add improvements after deployment. One of the companies I talked with recommended, “Your organization should not focus on building the perfect solution, but rather on building a decent and sound solution that puts you in a position to quickly and easily improve it after deployment.”

Spending too long on key decision points. Be prepared to make decisions quickly in order to drive development sprints, iterate quickly, and plan on the fly. But even though “agile” means that things get done faster, many organizations remain stuck in a traditional planning mentality. “To do agile well, you need to be able to make decisions very quickly and not spend too long on any one decision point.” In order to achieve this, organizations must establish governance boards and project teams that represent interests from across the organization and have decision-making power to approve development plans and changes.

Not using information worker personas to guide development cycles. End user personas — similar to marketers’ personas for consumer segmentation — are high-level overviews that illustrate how and why a typical user in a specific job role uses the CRM system and what benefits that user will receive from it. An implementation specialist at a professional services firm told me: “You need to consider how to make it easier for the end user to use the system. How can you make this system an improvement on their day-to-day life instead of a distraction?” Another advises: “Use stories to guide development sprints. Make sure that these stories represent the whole business for everyone who is going to touch the system.”

Not having the right skill sets. Skilled business analysts (BAs) will become increasingly important as solution governance makes the shift from a focus on application installation to a business-centric process improvement. An IT leader at a financial information services company said: “We always need more BAs. This is a much more important skill set for working with SaaS solutions. We don’t really need developers — that skill is less critical now.” BAs need to be skilled in business analysis, but also be trained in soft skills like facilitation, negotiation, communication, and collaboration.

via Don’t Make These Mistakes With Cloud CRM Solutions | CustomerThink.

 

%d bloggers like this: