8 secrets of CRM success
Customer resources are very valuable to companies, and the development of information technology has enabled companies to make more effective management and utilization of their customer resources. Through successful application of CRM, some companies have changed their management, while achieving practical results. How do these companies get huge success in CRM? Below is the eight secrets.
First secret: chemical concept is action
Successful companies generally show the inspirational industry leadership, which can propose the concept of demand and valuable, and give humanized colors, in order to occupy favorable positions in market competitors. For example, an example of a famous retail company tells us that a hugely scattered company how to cross all the fields, convert the idea to action effects, so that it has operability in various local areas. The result of this is quite dramatic - the profit contribution rate of the original customers increased by more than 10%, and new customers with some kinds of contacts in the original customer have unexpectedly increased.
Second Tip: Integrate customer resources
A successful company should know how to convert customers groups into corporate assets by forming the "Customer Value Evaluation Report". Customer value assessment should provide customer expectations, customer feature categories, and contact methods for specific customers. It is especially important that the various resources required to interact with customers should be ready.
Third secrets: consistent and valuable customer experience
The core of this experience is to communicate some specific idea to customers. This concept should be to meet market needs, valuable to customers, and enterprises, and should be conveyed through all the ways that can be utilized. Especially for financial institutions, they have already felt various challenges. For example, it is necessary to preview customer needs more forwardly; a variety of channels must be used, 24 hours a day, 7 days a week, high-quality service; try to make all employees have a deep understanding of their own products and services. Here, especially the integrated application of various information communication channels and the consistency of various channels.
The fourth secret: organize synergy
Organizational synergy includes transformation of cultural, structural and behavioral ways to ensure employees, partners, and suppliers to achieve commitment to customers.
Ensure that end users can accept new methods, new processes, and new technologies, which is a key topic for management innovation. BMC software has implemented a competitive management plan change, combining excellent project management and strong implementation to ensure that its third-generation sales technology has reached 96%. Another successful case of organizing collaboration is Compaq. This company's partners use different IT architectures, and often need to obtain product and service information from different places, which will generate a large number of repetitive labor, reduce productivity, and lose business opportunities. Later, Compaq's "One Face To The Customer" provided by COMPAQ "a single face to the customer" to partners. Compaq's partnership management (PRM, Partner Relationship Management) is integrated with its CRM, which has brought hundreds of millions of dollars for business income within three years.
The fifth secret: reasonable procedure
Here mainly refers to customer lifecycle management and method steps on analytical, planning and knowledge management. For example, Williams-Sonoma operates a home-oriented retail store to sell a variety of branded household products. It integrates the network as a communication method with its own original customer communication channels, and makes full use of the network's data collection function and personalization characteristics, and has received a good effect in the integrated channel operation, and new customers have increased by 30%. Old customers' profit contribution rate increased by 65%. This is the key to multi-channel CRM strategy.
Sixth Tips: High Quality Data Information
High quality data information is mainly used to provide decision-making support for business processes. For example, in a certain region, the average of each customer is 5.4 times a year, and the customer loyalty has become a decision factor for the success or failure of the entertainment institution. There is an entertainment company sharing customer data between all branches and hotels, thereby forming a complete data sheet of each customer. In this way, it can formulate the corresponding preferential plan based on the customer's profit contribution rate for each customer. Access the data warehouse in real time through the web tool and call center, provide customers with preferential services, such as discounts, membership upgrade, or admission tickets. This encourages customers to watch any of the clubs of the entertainment group, rather than locking customers in a home, thus greatly improving the number of customers. The seventh secret: promotion of technology
Successful companies use data and information management, facing customers' application and investment in IT infrastructure and architecture to implement CRM's balanced development. It is difficult to meet the expectations of important customers using old systems and manual processing. Relatively speaking, there is still a need to solve the problem of warmth, people are more concerned about the needs of reality, but such a environment is not much easily obtaining high levels of profit margins. After the economic level has reached a certain extent, emotional or subjective feelings have much much effect on consumption decisions. In this environment, consumers must maintain sufficient investment in technology infrastructure.
Eighth secrets: measurable methods
It is important to measure the internal and external factors of CRM success and failure. Companies should establish their own values and customer service systems to attract customers' loyalty. At the same time, they also build sites to respond to customer needs, so that they can save costs and will not affect customer loyalty. DOW is a good example. DOW calculates the cost and effect of each customer contact channel through its global agency, and 85% of companies have not noticed this important factor. Through this work, DOW saves $ 15 million in costs annually. However, the actual effect is far more than that, DOW hopes to save at least $ 100 million in cost by increasing customer loyalty and improving productivity.
Early CRM implementers have achieved harvest. However, most companies are still in the early stages of CRM, only some very radical companies are performing and optimizing CRM. If the best phase is achieved, it means a huge opportunity in the competition, but most companies have not reached this stage. After completing the CRM business strategy, it is recommended to perform a CRM capability / maturity assessment as a realistic test.
