Magazine article CRM Magazine

Five Keys to Your CRM Success

Magazine article CRM Magazine

Five Keys to Your CRM Success

Article excerpt

THROUGH 2010, ENTERPRISES THAT DEPLOY CRM STRATEGIES WILL RETURN AT LEAST 25 PERCENT BETTER FINANCIAL METRICS THAN THOSE THAT DON'T (0.8 PROBABILITY).

--GARTNER, INC. "TEN SECRETS FOR CREATING A CUSTOMER-CENTRIC ENTERPRISE," BY SCOTT NELSON, DECEMBER 2005

How can your organization achieve this goal?

Successful small and mid-sized businesses (SMBs) can greatly increase their odds for success by aggressively applying the five key concepts below. In the process, they will transform their businesses and set the stage for even greater success in the years ahead.

KEY #1: DEVELOP YOUR COMPANY'S CRM VISION. WITHOUT IT, YOUR CUSTOMERS WILL PERISH.

Studies of successful businesses show one clear determinant of success--the business or organization knows precisely what value it is delivering, to whom, and how to do so profitably. Successful CRM demands a clear CRM vision so that a strategy and corresponding infrastructure can be put in place. For example, at salesforce.com our vision is to make every customer and partner wildly successful. We have implemented several CRM strategies to realize that vision, including development of a user community for sharing information and best practices (www.successforce.com), an online service for sharing business applications (www.appexchange.com), and a virtual demo environment and free trials for a taste of success before buying (www.salesforce.com).

KEY #2: REMEMBER THAT CRM IS A NOT A TECHNOLOGY, BUT A BUSINESS STRATEGY.

The basic strategies for successful customer-centric businesses include:

1) EXTEND THE DEPTH AND BREADTH OF YOUR CUSTOMER RELATIONSHIPS.

2) REDUCE DELIVERY CHANNEL COSTS THAT CREATE BARRIERS TO ENTRY.

3) REINFORCE THE BRAND.

4) CREATE CUSTOMER SATISFACTION AND LOYALTY.

In an independent June 2006 survey of 944 SMBs that use Salesforce, the top three business objectives that led them to evaluate a CRM solution included revenue enhancement, customer loyalty and satisfaction, and cost reduction. What are your key objectives that can be achieved with CRM strategies and on-demand applications?

KEY #3: DON'T INVEST ANOTHER DIME IN CRM TECHNOLOGY INFRASTRUCTURE.

Many CIOs and IT managers of SMBs are trapped, spending their entire IT budget just on keeping the lights on. To avoid that fate, shift the IT budget from infrastructure to innovation by spending 20 to 35 percent of your IT budget on innovation. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.