Where do you want your business to be in 3-5 years?
Do you have a CRM strategy to get you there?
Having a successful CRM-focused business strategy depends on a vision for a better future. And making that vision a reality depends on a successfully executed CRM strategy. Closing the loop is critical.
It all starts with the leaders, who pass it on to the team members. When CRM technology is fully implemented and you live into the fully supported vision, everyone benefits.
It’s up to you to share your vision for business
development and show your organization how CRM
strategy will get you there.
Action to move you forward should be built around answers to business development questions like these. The answers will come from the management dashboard data in a CRM system such as bpm’online CRM analytics.
Which customers should we target?
- Not all customers have the same current and potential value.
- Not all customers value a complex relationship.
- Customer insights will allow us to continuously update the segments, perceptions, and their behaviors and needs, so we can deliver in ways they desire.
How should we communicate with our customers in light of rapidly increasing channel fragmentation and media complexity?
- Changes in delivery channels and social media are dramatically accelerating, and we need to keep up.
- Customers’ expectations are changing, and we must rise to meet them.
How can we balance quality of customer experience and cost-to-serve to ensure customer profitability?
- Maintaining highly personalized relationships with all customers is expensive.
- The 80:20 rule applies (80 percent of profits are derived from 20 percent of customers).
- Profitability depends on achieving personalization while maintaining efficiency and cost effectiveness. This is where smart CRM automation shines.
How much can we integrate CRM with other technology advances?
- It depends on the types of transactions and relationships we will have with our clients.
- Integration across channels, media, front and back office systems, functions or business units is expensive. Lack of it is even more so. (Bpm’online is especially good at integration to manage business processes.)
- Justifiable integration should be the goal.
What should we do with unprofitable customers?
- Identifying them is the first step to deciding how to deal with them or to just let them go.
How will we retain loyal profitable customers?
- Know how they like to be contacted, what interests them, and why they buy.
- Know what they consider a good relationship with your business and which of your team has one.
And a few more questions:
- Why do we need to change? You will get asked this. Give strategic and market justification for the vision.
- What will be the benefit for us and our customers?
- What will the future customer experience look and feel like from their perspective?
- How will we measure progress toward our vision?
Time to turn that vision into reality?
Often it is worth it to consider an upgrade and get some expert guidance on the best ways to successfully select and implement a well-used CRM. Start with discovery conversation with Dick or Julie.