CRM Strategy and Implementation

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Charting the course towards the customer-centric business of the future.

Transcript of CRM Strategy and Implementation

  • 1. Customer Relationship Management Charting Your Course Towards the Customer-Centric Business of the Future

2. Agenda Part 1 - CRM Strategy Part 2 - CRM Implementation CRM Strategy & Implementation 3. Part 1 CRM Strategy 4. CRM Customer (Constituents/ Stakeholders) The heart of your organisation Relationship The key to growing your company through engagement with your prospects, customers and stakeholders Management Managing these stakeholder relationships to increase lifetime value Three small letters, with three core concepts: CRM Strategy & Implementation 5. CRM is a business strategy whose outcomes optimize profitability, revenue and customer satisfaction by implementing customer-centric processes (Gartner) A CRM strategy cannot be developed in isolation. It must be relevant and linked to the overall corporate strategy. CRM Strategy & Implementation CRM Strategy 6. Why is it important? Help better understand the needs of every individual customer Reduce customer churn - eg: lower selling costs Increase leads - eg: referrals Increase revenue per customer - eg: cross sell, upsell Help deliver a consistent experience every time Successful CRM strategy will: CRM Strategy & Implementation 7. Challenges with Customer Interactions CRM Strategy & Implementation 8. So what has changed? Traditional buying model CRM Strategy & Implementation 9. So what has changed? (cont) A more complex buying model The internet Advances in technology Social Media Changes in buyer behaviour CRM Strategy & Implementation 10. The Eight Building Blocks of CRM (Gartner) CRM Strategy & Implementation 1. CRM Vision: : Leadership, Market Position, Value Proposition 2. CRM Strategy: Objectives, Segments, Effective Interaction 3. Valued Customer Experience Understand Requirements Monitor Expectations Satisfaction vs. Competition Collaboration and Feedback Customer Communication 4. Organisational Collaboration Culture and Structure Customer Understanding People: Skills, Competencies Incentives and Compensation Employee Communications Partners and Suppliers 5. CRM Processes: Customer Life Cycle, Knowledge Management 6. CRM Information: Data, Analysis, One View Across Channels 7. CRM Technology: Applications, Architecture, Infrastructure 8. CRM Metrics: Value, Retention, Satisfaction, Loyalty, Cost to Serve 11. CRM Strategy consideration Customer expectations Cloud trends Social Media Mobile trendsInformation abundance Staff expectations Alternative products and services Pricing Pressure Marketing sophistication People TechnologyProcesses Big Data Customer behaviour CRM Strategy & Implementation 12. People Communicate vision Recognise customer-centric behaviour Train staff on Customer Service and customer dispute resolution Make customers front and centre for all key business decisions Measure and report o Surveys (written or face to face) o Social media monitoring o Mystery Shopping o Management involved with Customer CRM Strategy & Implementation 13. Processes Lead management Sales Pipeline management o Call back responses Accounts Management o Record account specifics and all account interactions across the organisation o Customer care program o Account Ratings Advocate, Passive, Detractor Service Desk o Case management o Dispute recognition o Social media management Marketing o Leverage technology, individual behaviours and context to drive more personalized marketing and engage prospects and customers CRM Strategy & Implementation 14. Technology Implement a CRM System o Use CRM to cement your process o Make CRM central source of truth Integrate your CRM system o Content Management System (CMS) o eCommerce platform o Marketing Automation software o Learning Management System o ERP o Accounting software CRM Strategy & Implementation 15. From Product focused to Customer Centric Features Product-Focused Customer-Focused Customer Orientation Discrete transaction at a point in time Event-oriented marketing Narrow focus Customer lifecycle orientation Work with customer to solve both immediate and long term issues Build customer understanding art each interaction Solution Mindset Narrow distribution of customer value proposition Off-the-shelf products Top-down design Broad definition of customer value proposition Bundles thats combines products, services and knowledge Bottom-up, designed on the front lines Advice Orientation Perceived as outsider selling in Push product Transactional relationship Individual to individual Working as an insider Solution focus Advisory relationship Team-based selling Customer Interface Centrally drive Limited decision-making power in field Incentives based on product economics and individual performance Innovation and authority at the front line with customer Incentives based on customer economics and team performance Business Processes One size fits all approach Customisation add complexity Tailored business streams Balance between customisation and complexity Organisation Linkages and Metrics Rigid organisational boundaries Organisation solos control resources Limited trues across organisational boundaries Cross-organisational team Join credit High degree of organisational trust CRM Strategy & Implementation Source: Booz Allen Hamilton 16. CRM adoption curve CRM Strategy & Implementation 17. CRM adoption curve CRM Strategy & Implementation 18. CRM adoption curve CRM Strategy & Implementation 19. CRM adoption curve CRM Strategy & Implementation 20. CRM adoption curve CRM Strategy & Implementation 21. Part 2 CRM Implementation 22. CRM Implementation Planning Product Vendor Selection Scope Data Hosting Rollout CRM Strategy & Implementation 23. What is a CRM system? CRM Strategy & Implementation 24. Generate Higher ROI on Marketing Activities Create and execute campaigns across marketing channels Capture leads directly into CRM System Measure return on investment of campaigns CRM Strategy & Implementation 25. Increase the Productivity of Your Sales Force Organise sales information into a single system Improve the productivity of sales individuals and teams Gain greater visibility into sales performance CRM Strategy & Implementation 26. Create a Consistent Customer Experience Central repository for customer support and product issues Share knowledge and case resolutions across teams Reduce costs through customer self-service CRM Strategy & Implementation 27. Planning Organisation objectives Identify business problems Document Planning and business processes Team Budget Timing (1 to 3 months) Effort CRM Strategy & Implementation 28. Product & Vendor Selection Selection Criteria Criteria Comments Critical Mass Proven product in the market Product Roadmap >1 release per year Flexibility Ease of deployment Ease of Use Ease of user adoption Vendor Knowledge Product knowledge, business and technical Vendor Track record Proven ability to deliver Lock In Data Jail, Contracts Total Cost of Ownership Hidden costs CRM Strategy & Implementation 29. Scope Data model Security Model o Teams o Roles Accounts Campaigns Contacts Leads Opportunities Quotes Activities Teams Independent business units Franchisee Rollout Sales Roles Blocking delete View only fields/modules Blocking export CRM Strategy & Implementation 30. Processes o Configurations versus customisation o Fields and layouts Processes Customisations o Keep to a minimum o Integrations and customer portal Processes Workflows o What automated processes eg call back times o Complexity tradeoffs Look to CRM best practice o Dont re-invent the wheel Scope (cont) CRM Strategy & Implementation 31. Data migration Clean up your data o Use spreadsheets if possible o Remove old and redundant information o Remove conflicting information Dont over invest in data migration o Focus on accounts and contacts and activities o Importing data is ongoing CRM Strategy & Implementation 32. Hosting Hosting in the cloud On Demand CRM growth is > 20% pa (Gartner) 75% of US organisations have at least one SaaS delivered application (IDC Research) Advantages of cloud hosting: Benefits Comment Managed by specialists You need good product knowledge at both an application and infrastructure level. Manage patches and upgrades Needs professional management Reliability Redundant mission critical infrastructure Back up and Disaster recovery Needs professional management Speed In house does not mean faster Security Pros and cons Cost More often than not it will be cheaper CRM Strategy & Implementation 33. Rollout Log activities in the system o All sales information must reside in CRM o All sales people need to be living in the CRM All open leads and opportunities must have some planned follow-up activity o The CRM will help you become more organised o Follow up will be planned and not random Develop a consistent set of dashboards for the team CRM Strategy & Implementation 34. Rollout (cont) Focus on user adoption o Individual over management o Run competitions/ incentive o Encourage report writing and flexibility of changes Make data integrity everybodys responsibility Management o Rely on CRM data o On screen reports CRM Strategy & Implementation 35. Take outs Start small, Think Big, Move quickly Establish a clear set of objectives that can be measured Adjust metrics as needed to ensure ongoing commitment to CRM success Use the system to cement CRM strategies and processes Focus on people and organisational goals, not the product Focus on how the system helps individual performance rather than management Remove complexity. Eg Outsource your hosting CRM Strategy & Implementation 36. A journey of a thousand miles begins with a single s