CRM Magazine

A monthly magazine covering news, issues, profiles, and trends in the field of customer relationship management. Focuses on the integration of technology and organizational strategy to develop and maximize the potential of the relationships between organizations and their customers.

Articles from Vol. 12, No. 5, May

Analytics Solutions from Verint Witness Actionable Solutions: Actionable Intelligence for Informed Decisions
Your organization captures a wealth of information from customers every day. Are you using it to your advantage? Speech, data, and customer feedback analytics from Verint[R] Witness Actionable Solutions[TM] can help you turn mountains of data into...
And They're off! Offshore, That Is-And Nearshore, and Homeshore. When It Comes to Outsourcing Contact Centers, It's a Whole New Horse Race
[ILLUSTRATION OMITTED] When people bet on a horse race, they generally pick only one horse to win--after all, only one can finish in the top spot. (Even the trifecta bet only allows bettors to select one specific outcome.) At the 2006 Kentucky Derby,...
Are You Ready to Party? When Friends Have Fun, Brands Get a Big Benefit
[ILLUSTRATION OMITTED] The terms "marketing" and "house party" are rarely used in the same sentence. If anything, we might think of Tupperware parties, but those would hardly be considered an entertaining night out. And yet parties are a wonderful...
Business Intelligence, Analytics, and Data Mining
WISDOM THROUGH UNDERSTANDING In the following pages you'll find nine distinct essays covering best practices in business intelligence, analytics, and data mining. The common goal of these essays is to help organizations better understand the world...
Business Problem: Unsure How to Price Products and Services to Stay Competitive While Still Ensuring Profitability
Tech Solution: Price optimization tools In these turbulent economic times, with consumers increasingly wary of spending on products and services, price is becoming a critical factor in a consumer's purchasing decision. Many companies must keep prices...
CRM World News, Part III: If I Found It on the Internet, It Must Be Important
Did the wax tadpole teach them nothing? [ILLUSTRATION OMITTED] Reuters recently reported that a Chinese maker of stuffed buns is changing the product's name so that its English translation will not cause confusion. Goubuli-brand steamed-meat-andvegetable...
Generating Incremental Sales: Maximizing the Incremental Impact of Cross-Selling, Up-Selling and Deep-Selling through Uplift Modeling
There is a subtle but important difference between targeting people who are likely to buy if they are included in a campaign and targeting people who are only likely to buy if they are included in a campaign. It has become apparent that this single-word...
Hatching a Customer-Connection Plan: Egg, the British Online Bank, Knows What Its Customers Are Thinking All the Time, Thanks to Surveys Conducted by Confirmit
* Tell us about your organization. Egg is an online bank, one of the largest--if not the largest--in the world. It was set up in 1998, from Prudential at the time. [Egg is now owned by Citigroup.] We first started out with savings accounts, then moved...
How UGC Can Benefit CRM: Fostering Online Communities and Embracing User-Generated Content Can Provide Great Value for CRM
If there was one central notion emphasized at this year's AIIM conference in Boston, it was that of integration. Presentations echoed the key idea of collaboration among applications and processes. The future of CRM, attendees were repeatedly told,...
Improving Business Performance: With Automated Customer Lifecycle Analytics
The pressure on your organization to acquire and retain customers, as well as cross-sell and up-sell to them, is increasing. To meet this challenge your marketing campaigns must be more focused and effective than ever before. And you must not only...
Is CRM Too Hard for Microsoft? Redmond's Mighty Software Maker Finally Has What It Needs for a Great CRM Program-But Is It Too Late?
At Microsoft's Convergence event in March, President and Chief Executive Officer Steve Ballmer told attendees that, thanks to acquisitions and its own development work,Microsoft was in the right place as far as business applications were concerned....
Is Your Contact Center Built for Multichannel Customers? the Boom in Self-Service Doesn't Mean Your Agents Are off the Hook
IN MY PREVIOUS column ("Multiplicity Means More," February 2008, page 8), I suggested that true multichannel CRM requires proactively implementing customer-facing processes and technology to facilitate the sharing of real-time customer information...
Maintain Your Competitive Edge: With Interaction Analysis
Whether clients are contacting businesses through a website, email, or the customer contact center, organizations are constantly being held to higher customer service standards. Ensuring optimum service requires all divisions of the organization to...
Multivariate Testing: A Formula for Direct Marketing Success
Initiating, nurturing, and growing any kind of relationship takes hard work, dedication--and a little luck. But when you're talking about a customer relationship, luck's not going to cut it. You need the right tools, strategies, and resources to positively...
Price Check, Aisle 5: Everyone's Talking about "The R Word"-Recession!-And for the First Time in a Long Time, Price Is Competing Head-to-Head with Service
After months of whispers and sotto voce chatter, the word is finally being uttered out loud: Recession. While some retailers are claiming immunity, the industry overall is undoubtedly feeling the pinch. Economic spending has declined and consumer behaviors...
Putting the Relationship Back in CRM
THE PROMISE OF STABLE, PROFITABLE, LOYAL CUSTOMERS is appealing for every organization. Strong customer relationships are the foundation of sustainable revenue and profits, but many firms have not aligned their investment and resource priorities with...
Recognizing the Wind of Change
FREQUENTLY I'm asked, "What are the biggest trends in CRM right now?" While each issue of CRM magazine covers trends, this month in particular we cover three areas that are experiencing--or are on the verge of experiencing--extraordinary shifts in...
Sense-Sational Marketing: Advertising Is Movin' on Up-And in, out, and around All the Human Senses
All eyes and ears--and noses, mouths, and fingers--were alert at the Direct Marketing Association's B-to-B Marketing Conference recently in Orlando. With a grand display of intriguing pieces before him, Mike Maguire, chief executive officer of Structural...
Serving Many Masters: Customer Data and Business Data Must Be Controlled through Master Data Management
CRM IS A SUBSPECIES of master data management (MDM). You can't have much confidence in customer data if it hasn't been cleansed, consolidated, and controlled in your company's official recordkeeping system. Customer data is almost never used in...
Seven Steps to SOA Succes
In theory, services-oriented architecture (SOA) is no more complex than its name. The Open Group defines SOA simply as "an architectural style that supports service orientation"--a way by which you can build your business processes, a glue to hold...
Show Me the Talent
Whether money can buy happiness may never acquire unanimous consensus--but money can buy talented employees, which can make employers very happy. Employees--especially the good ones--don't come cheap, though. How much are you willing to spend in a...
Skin in the Game: Centive Smoothes Away the Calluses for a Dermatology-Product Vendor
[ILLUSTRATION OMITTED] Those sharp-dressed men and women with briefcases you sometimes see in your doctor's waiting room are salespeople, and if your doctor does anything involving the skin, those salespeople might be from Obagi Medical. Obagi provides...
The Contact Center Identity Crisis: You Are Who You Talk To
"AMIA CONTACT CENTER?" Lots of people in many work environments around the world have been asking me that lately. They are inquiring because incoming phone calls are disrupting what they consider to be their primary jobs. More often than not, my...
The Hidden Cost of SaaS: Software-as-a-Service Fulfills Its Value Proposition-Sometimes
SOFTWARE-AS-A-SERVICE (SaaS) has arrived; for CRM, even large enterprises are adopting it. The value proposition is well known by now: solid functionality that can be implemented quickly with low costs. But just how low are those costs? Do the economics...
The Moving Target: Mobile Phones Have Been around for Decades-But the Ability to Market to Mobile-Phone Users Us Relatively New. No Wonder Marketers Are Still Struggling to Get It Right
[ILLUSTRATION OMITTED] It seems like just yesterday the Internet was that neat trick our computers could do. Today, it's become our primary source for giving and receiving information. Mobile technology is a natural extension of the Internet--and...
The Right Numbers: CRM, Together with Telephony Technologies, Leads to Better Sales for a Direct Marketer
[ILLUSTRATION OMITTED] With two distinct business units covering very different markets, Launchpad Communications understands the value of keeping sales leads separate. A Los Angeles--based direct marketer of real estate listings and medical/pharmaceutical...
Turning Information into Insights: Best Practices for Maximizing CRM with OnDemand Business Intelligence
IMAGINE IF EVERY PERSON IN YOUR BUSINESS COULD MAKE BETTER CHOICES and decisions every time, in every situation. That's the promise of business intelligence (BI). BI is the use of an organization's disparate data--from CRM databases, ERP systems, financial...
Vendors Go Virtual for Feedback: Online Communities Are Another Way to Get into Customers' Heads
One critical aspect of success is knowing what customers think. Judging from the language and tone at the recent SAP CRM 2008 conference in Las Vegas, SAP is urging vendors to take it another step further by leveraging online communities to receive...
West Interactive Boosts Business Intelligence: With Five Best Practices
Neither products nor pricing provide real, lasting advantage in the market. That leaves customer service as the last great battleground for competitive advantage. In today's marketplace, competitive advantage is gained through exceptional customer...

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