Big data can play a key role in CRM’s success maximizing customer engagement and profitability, but as earlier CRM failures taught us, the focus needs to be on business need for actionable analysis, not software.
Denver, CO (PRWEB) July 20, 2015
Customer Communications Group, (CCG) the full-service loyalty and marketing agency, offers marketers Building the Case for CRM, a primer showing how to build a business case for a full-scale customer relationship management program that can leverage big data – and build sales.
“Gartner Research predicts that CRM will be a $36B market by 2017,” said Sandra Gudat, president and CEO of Customer Communications Group. “Big data can play a key role in CRM’s success maximizing customer engagement and profitability, but as earlier CRM failures taught us, the focus needs to be on business need for actionable analysis, not software. Before we explain how to succeed, here are ten common ways businesses fail their CRM program.”
CRM: 10 Ways to Fail:
1. No corporate-wide CRM strategy; failure to develop a shared management perspective of CRM opportunity
2. Lack of clearly defined and measurable business objectives
3. Attempts to develop skills and infrastructure too quickly, looking for the “big bang”
4. Little or no attention paid to employee skills and abilities; too great a focus on tools and hardware, not “humanware”
5. Change in the organization is not managed well, leading to functional barriers as well as philosophical roadblocks. Everyone must see and understand where they will benefit
6. Inappropriate sequencing plan for CRM investments, e.g., building technology before strategy or expectations
7. Failure to understand which business processes must be optimized to support the strategies
8. Program unaligned with brand position and customers’ expectations
9. Quality of data not properly addressed
10. Failure to create rigorous controls and testing
Build the Case Right
Successful CRM starts with a solid business case that will demonstrate why the CRM program will be a strategic winner, quantifies the benefits at a detailed level and specifies how the program will achieve those benefits. A strong case sets a plan in motion to gain the resources and funding needed for the CRM program, including its backbone — the customer database and big data potential.
Customer Communications Group (CCG) is a full-service customer relationship marketing (CRM) agency that helps Fortune 2000 retailers and financial institutions improve their bottom lines by improving their customer relationships, loyalty and retention.