A smarter approach is one that seeks to resolve functional gaps in a company’s operational performance. It is an approach that focuses on customer-centric processes, including improved contact center, IVR and Web self-service; customerpermitted, proactive, outbound, multichannel notification; and, where there is an advantage to be gained, multiple language support.
Can Your CRM Evolve as Fast as Your Customers? (Part 7b)
It also incorporates marketing, scripting and localization to serve global customers, with procedures for data collection and use. It identifies and targets specific metrics of performance so that the potential benefits of improved efficiency, productivity, and greater revenue can be projected as part of the justification for CRM. Lastly, it entails integration with other vital processes, including accounts receivable/billing/collections, ERP and shipping/receiving (i.e., supply chain management) to help serve, support, attract and keep customers from end to end.
The case for a smarter approach to CRM is not just about a return on investment (ROI) or a payback analysis; it is also about the opportunity costs of not implementing an effective CRM solution. For the marketing manager, how long can poor response rates to marketing initiatives be justified? For the customer service manager, how can conversion ratios be improved and call handling times be reduced in a tough economy? Companies seeking more functionality from their
current management systems can make the case for a CRM platform that can help close these functional and ROI gaps while expanding on performance capabilities.
The global economy is in slow or no-growth mode. The International Monetary Fund’s World Economic Outlook predicts a lower than three percent rise in U.S. output through 2013. The European, Japanese and Canadian economies will also experience sluggish growth. The IMF warns of inflation risks and increased financial volatility in this environment. The world, and businesses, still look to the U.S. for growth.
Continued in Part 8