I wanted to touch on this topic in hopes of making the CRM picture more clear to those in business and marketing who may not understand it’s power.
CRM systems and processes allow companies to cultivate relationships with it’s consumers which ultimately leads to LOYALTY. Here are some key areas to help explain where impact is made:
a) Lead Generation – allows companies to catalog people interested in it’s products or services.
b) Customer Service – having a full view of customers actions and activities helps improve service.
c) Marketing – knowing how customers want & consume information improves reach & contact.
d) Sales – combining all of the above with purchasing behavior can lead to increased overall sales.
And within each of the above key areas lies a multitude of tool-sets and processes that help to drive each. Some examples include database input and maintenance, segmentation and targeting, surveys, attribution, statistical analysis and modeling, optimization and behavioral analysis.
Focusing in on any of the above key areas and utilizing the tool sets and/or processes could easily generate a 5-10% or more lift in sales. And these sales increments can be multiplied over as you look to improve performance in each particular area.
