Congratulation! You have already made the first step to transformation of your business and learned about CRM. Maybe you have even decided to implement this approach and feel yourself rather inspired as you find that CRM is a breath of fresh air in searching opportunities to increase the margin and reduce costs. Anyway, there are plenty of questions left: what you should start from, how to align CRM-strategy with you marketing strategy and different kinds of business processes and so on. I hope this article will give you a lot to think about. 

According to recent study by Deloitte [1], CRM is still crucial topic for 92% of companies which highlight CRM as a key priority of enabling their business strategy, but despite of this fact, CRM is still considered as a technology-focused topic, ignoring the effects of other perspectives on success. To avoid mistakes of losing opportunities researches advise to create a chain consisted of following progressive steps [1]:

  • Define CRM value drivers and hurdles
  • Establish a consistent method of measurement for individual customer value and allocate resources for relationship building accordingly with focus on high value customers or potentials
  • Align the operating model with CJs (Сustomer Journeys)
  • Integrate legal knowledge into day-to-day operations to leverage the potential of CRM to the fullest degree, while ensuring compliance with authorities and regulations
  • Set up a proper measurement system for CRM-performance.

In research literature we can find that an important goal in Strategic CRM is to align the broader business strategy with customer strategy [2]. First of all, you should understand business strategy issues, such as corporate vision and industry and competitor profiles.  The managerial discipline of customer portfolio analysis can help companies to divide their current and potential customer base into segments that can then be used for setting up specific relationship management strategies. 

So, wish you good luck in implementing CRM and increasing your margin! Keep in touch with this portal where you can find more articles regarding CRM. 


Sources:

[1] Digital CRM 2.0. Building customer relationships in the digital landscape//Deloitte Digital Issue 09/2019, pp. 2-13 URL: https://www2.deloitte.com/content/dam/Deloitte/de/Documents/strategy/Deloitte_Digital_Digital_CRM_Study_2.0_2019.pdf

[2] Iriana, Reiny and Buttle, Francis(2007) ‘Strategic, Operational, and Analytical Customer Relationship Management’, Journal of Relationship Marketing, 5: 4, 23 — 42

6 комментариев

  1. I firstly would like to thank Anna for her very relevant and interesting post. As she perfectly explained, CRM strategic type puts the customers first and this is why it’s important to align the broader business strategy with customer strategy. The major goal of this type of CRM is to gain a better knowledge about customers and therefore be able to customize and personalize the interactions with customers to maintain a long-term relationship with them. It’s of big interest for an organization to share customers’ information among its business units like sales team, marketing team, technical and support team, … The feedbacks from each departments are considered as a key element in the implementation process of the strategic CRM.

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  2. In touch Egor and I would like to slightly supplement Anna with her non-trivial blog! In addition to determining the stages and goals of implementing CRM, you should also analyze and decide on the methods for implementing this system. In order to avoid significant costs for the company and offset the loss of expensive time, companies need to consider the independence of crm implementation three times. It’s clear that this should be taken into account depending on the size of the business. However, competent implementation of CRM by specialists will help to develop good habits in the subsequent growth of the company and modernization of CRM under the new market conditions and company capacity. But on the whole, Anna’s thought is all in spirit. Included this blog in his newsletter.

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  3. I would like to thank the author for the theory provided and good structured post.

    It is true that «when all is said and done, CRM is nothing more than a highly-advanced tool». By itself, it is incapable of helping your business reach its goals. But when combined with a detailed-yet-flexible business strategy, CRM can help us place our customer in the forefront of your business focus. It may take time, effort, and a few trips back to the drawing board, but if you make it a point to develop the right strategy, you’ll find that CRM has the potential to perfect your relationships with those who keep you in business. Today CRM often serves as a basic business strategy, it reflects a long-term vision of strivng to create and deliver value to customers.

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  4. Olga, thank you for such an interesting comment. I agree with everything you said.
    I want to supplement Yegor’s comment. There is a difference between CRM — program and CRM — marketing in general. The CRM program is a tool that allows you to realise a customer relationship management system. CRM strategy widely covers many aspects of the company. The CRM program itself may not yet be implemented by the company, and the strategic and tactical CRM tools are already in use. Therefore, when planning a strategy, it is important to understand at what stage the company is now, what it knows about customers and how it uses it. For example, in the B2B market, there are companies with a small number of customers. Their CRM may be limited to EXCEL! How effective is it? The question is individual for each company.
    What I agree with Yegor is how important it is to understand: “how?”, “for what?” and “when?» this tool will be used to implement and manage CRM. It is imperative to consider this when planning your strategy.

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  5. I would like to thanks the author for the such beautiful begginig of the article. It really makes me smile while reading. This topic covers one of the most important issue not only for CRM but for all markting strategy of the company. And what i really like that into the chain of progressive steps author mentioned «integrete legal knowledge into day-to-day operations». This is a really hot topic for today, because consumer are realy disturb about where company get information about them. There are a lot of techologies to collectig different type of data and people want to be sure that this methods don’t interfere with their personal space. This aspet is very important for savig good attitude to he company for consumer and avoid any resks and conflicts.

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  6. First of all, I’d like to appreciate the author about this wonderful article. It is written so clearly by the well-structured theory. All the mentioned tips above by the author are deeply related to the marketing strategy. They are well permeated to the strategical aspects of the CRM. Also, the following progressive steps as the advice are shown easily understandable. Nowadays, most companies treat CRM as an important part of their business strategy. To win the competition with the rival companies only the long-term relationship will help to create valuable customers.

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