We Blog CRM

CRM has grown in terms of its capabilities since the early days of the 90s. One important change has been the development of software that allows dialogue with the customer. The technology follows the thinking that customer feedback is a critical input to improve customer service.

Some things that need to be considered when selecting a CRM system –

• Sales automation

•   Contact management

• Automated marketing

•   Reporting

• Data integration

• Better customer interaction via call centers

Aspects of your business that influence your choice of CRM include

• The size of your business

• Your vertical and amount of customization required

• Security

• Budget

An effective CRM solution can help you with:

• Contact and data tracking at every stage of the sales cycle with analysis of sales forecasts, reduction of admin work, increase in productivity by faster expense management, quote generation, and proposal generation.

• Multichannel marketing to a targeted audience is the lifeblood of a marketing campaign, a proper CRM system enables effective lead management such that the strongest leads can be quickly passed on to the sales reps. Campaigns can be managed more effectively.

• Corporate reporting allows organization heads to take in information at a glance and make informed decisions. Pre-built reports that are ready to use can help marketing heads evaluate marketing efforts and view reports in interchangeable formats.

• A call center management system foster user-friendly customer service. A proper system helps create routing paths so that calls reach the appropriate person, employee performance analysis and forecasting, employee training and quality assurance.

• Seamless data integration allows unencumbered data access for the right person at the right time. Integration of sales, marketing, and service leads to integrated and targeted customer service. Inconsistencies in data are resolved and the cost of data management is reduced.

Of course, what works for one business does not necessarily have to be the right fit for another. Features will depend upon the size of the business and industry type.

The right CRM system can improve company efficiency, facilitate communications with customers, and help increase revenues. Consumers have grown increasingly service-oriented, making CRM a business necessity rather than an option. Customers have a vast array of choices for spending their dollars, thanks to the plethora of information on the Internet that allows them to comparison shop for just about anything. Going forward, they will continue to demand better customer service and personalized communications in return for loyalty: “In 2015 the consumers who grew up after the advent of the Net will be ages 10-34…this group of customers will expect you to conduct business with them in an always on, always connected, real-time way. Always on, always connected is a result of the move from an analog to a digital world, which will be completed around 2030,” according to Barton Goldenberg, president and founder of consulting firm ISM Inc.

Technorati Tags: , crm, crm features, crm whitepaper

With the growing importance of maintaining customer relationships to promote customer loyalty, CRM software will continue to increase in popularity. The shifts in strategy from procuring new customers to keeping existing customers has made CRM software a growing phenomen within businesses. As businesses recognize the benefits of CRM Software, it becomes necessary for companies to become adequately prepared for the implementation process.

 Proper implementation of CRM Software enables companies to realize the full benefits of CRM software and provide significant value to businesses.

1. Research what’s available on the market and compare it to your needs.

With the wide variety of solutions available on the market, it may be difficult to narrow your options down. Researching ahead of time can prevent your company from wasting time and money on a solution that does not match your company’s needs or does not fit your company’s budget. Adequate research can prevent these problems from occurring and save your company headaches later on.

2. Integrate new CRM solution with other existing software.

By integrating the new solution with existing business software used in the company, businesses can dramatically improve their existing processes. These improved processes will allow customers to benefit, providing customers with an improved customer experience and promoting customer loyalty.

3. Train employees to use the new CRM solution.

Prior to deploying the CRM solution, allow the employees to use the solution and provide feedback. Allowing those will use the solution most will allow them to suggest potential problems and possible fixes prior to deployment. This will also save a number of headaches for customers as it allows a majority of the kinks to be worked out and an efficient process to be set. Educated employees will be able to provide customers with a much better customer experience.

4. Track Results

After implementation and deployment, it’s not over! It’s important to be able to see how effective the CRM Software is. Tracking a variety of metrics prior to deployment and after deployment can give you a sense of the effectiveness of the software and allow your company to see whether or not the investment is worth it.

 Deploying and Implementing new software can be a very problematic and difficult time for companies. However, it doesn’t always have to be. With proper preparation and adequate research, companies will be able to enjoy a smooth CRM Implementation, providing companies a positive experience and allowing companies to reap the rewards of CRM software quicker.

Technorati Tags: CRM Deployment, CRM Implementation, CRM Software

In the last post, I talked about how companies were shifting their company strategies to keep in line with the economic times. Investing in business software such as CRM Software to help improve efficiency in certain parts of their business is becoming a much more popular strategy. But, why is it so effective?

 Large and small companies realize their business processes are not as efficient as they should or could be. This inefficiency does actually cost the company money. Although it is not necessarily a fixed cost shown on a company’s profit/loss statement, it still is something that companies must take into consideration as lowered productivity of workers or inefficient use of resources means lost revenue which hurts profits.

CRM Software can help companies optimize their business processes and increase profits. There are many benefits to CRM software besides maintaining customer relationships and retaining customers. Although this is a key benefit of CRM software, there are many other benefits which help to improve business processes overall.

CRM Software also helps companies improve efficiency within their business operations. It prevents any duplication of records by keeping records centralized in one location allowing all employees to access from a centralized database. Also, with improved tracking and monitoring over the entire business, employees are able to act much more quickly on customer data and rapidly respond to any customer inquiries. This rapid sales response time is critical in capitalizing on prospective leads and converting them to customers.

Employees are also much more productive with CRM Software. Centralized data allows employees to access customer data much more quickly and easily. In addition, workflow processes within CRM software help reduce inefficient processes and help improve them. With CRM Software, productivity increases dramatically and costs are actually saved over the long run with less maintenance costs and less employee time wasted on manual processes necessary to maintain customer data.

CRM Software is a great choice for companies looking to cut costs. Although initial deployment costs could be rather expensive, the cost savings incurred later on will more than make up those costs in the future. Considering CRM Software for your growing business could be the smartest decision you make in these troubling economic times.

Technorati Tags: , CRM Investment, CRM Software

A very nice and succinct piece here that touches upon the manner in which businesses into commodity trading and those selling high-value goods can make use of CRM. CRM is now being used by businesses to add to the soft value that a consumer perceives in a transaction apart from the object/service he purchases and the amount he pays for it.

The value-adds act as important differentiators and allow businesses to create space for themselves in competitive scenarios. Product and price differentiation is no longer sufficient to draw in the customers. CRM helps by making sense out of data that is gathered from the customers and the information is used to tailor service around a customer’s likes and dislikes.  The service sector finds it the hardest to do business on quantitative value alone and hence is pressed to come out with innovative value propositions for customers.

Technorati Tags: customer service

Reframing service as a profit center is the key to driving new growth – So says James L. Watson, regional manager, Neocase Software. In an exclusive viewpoint published at DestinationCRM, James states that all you need to do to drive growth from CRM is to look at it differently, consider it a profit center. Apparently, a shift in perspective will enable you to get your CRM activities to become a major revenue driver.

A read through his article tells that this is all that you need to do to make money from CRM, get a quick ROI. I say this because, although he suggests a difference in perspective, the accompanying activities are simply those that one would normally associate with a successfully operating CRM deployment.

James goes on mention activities such as offering good service, up-selling, cross-selling, etc as those that you need to do if you are going to look at CRM as a profit center on par with sales and marketing.

To be honest, I didn’t really understand the point of the article. I mean the ultimate objective of deploying a CRM solution has always been to make money – make money by keeping the customers happy. So, how does adding some new nomenclature to it make a difference when you are not introducing any new activities to go with your new concept? Is this vinegar in a wine bottle?

P.S The last paragraph of his article reminds me of typical boardroom pep talk that my boss used to give me. Does nothing to make it easy for the guys who are actually facing the heat out there.

Technorati Tags: Neocase

Customer Experience Management, or CEM, is becoming a popular way for industries to capture customer loyalty. CEM puts the focus on the customer rather than the goals of the company, leading to better customer service and ultimately a higher number of loyal customers spreading word-of-mouth advertising to potential customers. Companies that use customer experience management practices strive to make the most out of every interaction with the customer; through advertising, sales, delivery, service and communications. This leads to the “customer-centric” approach that CEM stresses. The customer needs to have the experience that the customer desires and expects at every level of interaction.

Effective CEM plans start with data gathering and analysis and ends with a customer service focused start-to-finish strategy to increase customer loyalty in a financially optimal way for the company. The strategy must give your company an advantage over other industries that are currently implementing CEM programs as well. Probably the most important issue to watch is the involvement of top executives in the CEM program. Goals should be set including the involvement of all levels of personnel in the company. When programs are initiated but not followed through on, CEM cannot accomplish the purpose set forth. Staff from every department should be on board with the planning and implementing of the customer experience management program. Read more

Technorati Tags: crm, customer relationship management

Business consultancy How to Experience CEO David Williams has a bit of a scathing editorial running at CRM2day.com. In a piece entitled “The Customer Focus Myth,” Williams takes nearly every organization he has dealt with (and over ten years in the biz, that would appear to be quite a few) in simply failing to go the extra mile for customer loyalty.

“The last 10 years have convinced me that virtually all organisations could do ‘customer focus’ better,” Williams writes in CRMToday.com. “The internal ‘stickers and brochures’ campaigns, the new bold talking PowerPoint are harmless and well meaning. But they change nothing and challenge no one. At worst, they are divisive – with unclear objectives that distract the organization from its core objective.”

For a positive example, Williams cites – as many such authorities do, it seems – Virgin Atlantic airline, a firm “brave enough to invest in things around the customer’s real needs” in Williams’ view.

Ultimately, Williams makes an “Emperor’s New Clothes”-like deduction that is surprisingly unique: “Often, CEOs are too far removed from the service reality. A middle management layer protects the status quo. In one PLC, it emerged the service director used the engaged tone on one of its call answering lines … because calls lost in this manner didn’t affect the headline call answering metrics. Good customer focus initiatives change the metrics and understand the business impact of actions.”

CRMchump is down with Williams on this one. This writer has ranted on such a topic for some time, as middle management’s job in the late 20th/early 21st century has more often than not consisted of a lot of rah-rah cheerleading prompted by guys with university degrees doing things by the (school)book.

“The Customer Focus Myth” can be read in full at CRM2day.

Like top-five lists? Well, you’ll love the telephony/customer relationship management VendorGuru.com this week. The loftily-named company yesterday released a pair of white papers entitled The Top 5 Telephony Solutions Your Business Needs Today and The 5 Must-Have Features of a CRM Solution.

Best of all, the white papers are free after the registration process.

The Top 5 Telephony Solutions Your Business Needs Today promises to expostulate on how the telephone communications landscape is changed and how businesses like yours have increased productivity by implementing the new standards.

For those who love only the thrill of the list and find the prose second, the following are the five “must have features of a CRM solution":

• data tracking and integration, to give users throughout the company access to key data;

• customer support, to provide high levels of service, quick response times, accountability, and prompt problem resolution;

• sales management tools, to help managers distribute sales leads and help salespeople process orders in real time and close more sales;

• marketing automation, to generate automatic responses and collect data to help track leads and results; and

• analytics to organize and analyze customer data, for more better customer experiences.

Cutting Edge Information has released a report on that nice niche industry, pharmaceutical CRM. Not so aesthetically-titled Pharmaceutical Customer Relationship Management: Developing and Improving CRM, the report seeks to identify and analyze the pharmaceutical companies recognized as leading the field in customer relationship management.

The sound-bite version of the piece, broken down into a 21st-century quick list format, states that organizations “on the cutting edge of CRM” share similar secrets of success in that all

• invest adequate resources at the outset of the initiative and provide sufficient investments annually to support the program;

• create an internal champion for CRM, through the structuring of a CRM department, team or ad hoc group;

• establish a centralized database to share knowledge across the company;

• define CRM and educate internal parties to ensure buy-in;

• understand target audiences and provide customized messages via preferred media touch points;

• recognize that CRM requires a long-term commitment, in terms of both resources and measurements; and

• improve their programs by continuously monitoring progress and industry advancements.

The report contains budget and staffing metrics for thirteen different customer relationship management programs. A summary of Pharmaceutical Customer Relationship Management: Developing and Improving CRM is available for free at the Cutting Edge website, but you’ll have to pay to get the whole thing.

With an abundance of CRM products and a plethora of online pundits examining them, this market of the software industry is seeing awards and honors within the field graced every week of the year. Heck, to keep up, you’d need a scorecard.

Below is one writer’s attempt to provide such; a look at some of CRM’s recent trophy-hoisters and the reasons for their pride.

Catch a rising star

Voice Print International became perhaps the latest in the industry to bag a trophy, announcing last week that the company had taken one of three Rising Star Award from CRM Magazine. The contact center solutions provider was cited by CRM editorial director David Myron for “expanding its portfolio of integrated quality monitoring and workforce optimization technologies and positioning itself as a serious player in a very competitive space.”

Centive back-to-back

On-demand sales compensation management specialists Centive were pleased to accept Technology Marketing Corporation’s Customer Interaction Solutions magazine CRM excellence award, and even more so that the prize was the firm’s second consecutive nod from the prestigious publication. Web-based Centive Compel has also won the firm a CODiE and a “Wiz Kids Award” from Beagle Research.

In Cali, it’s Kintera

Kintera Inc., specialist in CRM solutions for non-profits, recently showed CRM development’s advancing place in the software world. This month, Kintera took home a California Innovation Award from the California Innovation Corridor. Kintera made the final 15 from an initial pool of 300 nominated. Finalists were chosen based on market leadership within their industry, employment figures, continuous innovation of products and services, contribution to the California economy, and significant accomplishments in 2006.

Link me up

Product of the year? For TMC’s communications solutions department, it’s Envox PhoneLink. PhoneLink is a CTI application that allows service and support organizations to leverage data from CRM solutions.

Quick what?

Ah, the ever-elusive and -prestigious Software & Information Industry Association CODiEs…this month, on-demand financial applications provider Intacct Corporation is polishing one of those bad boys off, getting a "Best Financial Software Solution" prize for its Intacct Enterprise application. A more unique title given Intacct came in March with Inc. Magazine naming the product "Best for Replacing QuickBooks."

Praise and prize

KNova, already a prize bagged by Consona CRM in a recent acquisition, made its new benefactor proud with last month’s Service Excellence Award from CRM Magazine. Together with Onyx, a second Consona solution frequently teamed with KNova, Consona now has “a powerful combination that would give larger competitors like Oracle and SAP a run for the money.” Now that’s praise that might be more valuable than the prize…

OSS on FTS’ promise

CRM solutions provider FTS has a bright future ahead, at least in the eyes of those at the TeleStrategies Billing & OSS World 2007 conference and exhibition in Chicago last month. FTS was named the “Most Promising Company” at the show and in the Windy City showed off its recently released version 7.0 of Leap Billing RevChain, a billing product specifically targeting the American market; and version 4.0 of its Leap Billing, a solution serving customers worldwide.

Salesforce.com gives back

Sure, Salesforce.com has an edge-up in most awards competitions by dint of size and reputation, but sometimes the recognition is harder earned. To wit, the Salesforce.com Foundation’s winning of a “2007 Building Strong Communities Award” from YMCA of San Francisco. Sometimes, winning isn’t only about sales.

Technically excellent

Sogeti Group was named winner of the “Overall Technical Excellence in an IBM Business Partner” award from the big company in April. Sogeti is a systems integration firm. It’s a hard-earned nod, indeed: In 2006, Sogeti opened three centers of excellence in Spain, Sweden and the United States, training more than 500 consultants; hosted more than 25 seminars featuring Rational offerings in Europe and the United States with more than 500 clients attending; and opened testing centers in Sweden and the US using Rational technology. Sogeti also opened two mainframe academies in France and Belgium with the full support of IBM, to expand the life of the mainframe in large accounts.

A Dialogical decision

The Frost & Sullivan awards are another set that are well lusted after for their prestige; this year, the multinational consulting firm bestowed a Market Leadership Award on media and signal processing technology provider Dialogic Corporation. Said Frost & Sullivan analysts: “[Dialogic] has continually demonstrated an ability to closely monitor market changes and implement superior market strategies accordingly.”

Joe Jackson would be proud

Probably the prizes with the coolest names, the Steppin’ Out Awards are presented by internationally acknowledged “CRM guru” Paul Greenberg and usually quickly reported on by industry writers referencing the 1980s pop hit. The awards haven’t stepped out for 2007 quite yet, but Zoho is already pumped that the firm bagged a finalist nod in the “Vendor” category. Zoho’s nomination is based on its “customer-centric focus, constant innovation, and comprehensive and remarkably inexpensive Office 2.0 suite.”

Intelligent, sophisticated, calls you back…

Product of the year? According to Call Center Magazine, that would be Interactive Intelligence Inc.’s contact center automation software, Customer Interaction Center. CIC was selected by magazine editors as “Product of the Year” for its “open, sophisticated architecture built to process multiple types of interactions, including calls, faxes, e-mail, web chats and web callbacks.”

Take us to your (Service) Leader

KANA Software, Inc. can now call itself a true leader, having earned a “2007 Service Leader” from CRM Magazine. The 2007 Service Leaders Awards are given to “honor CRM vendors who are committed to making the customer a strategic business priority.” The rankings are derived from a weighted formula that considers factors including company direction, reputation for customer satisfaction, depth of functionality, and market share. KANA reportedly earned the highest scores for “Reputation for Customer Satisfaction” and “Reputation for Company Direction,” while ranking a close second in “Reputation for Depth of Functionality” among the companies evaluated.

Software and The City

Meanwhile, in the shadows of Gotham…Vormittag Associates, Inc., a provider of enterprise solutions specializing in the distribution, manufacturing, retail and service industries, are polishing their LISA. Spelled out, that’s a Long Island Software Award given to the company for its S2K Enterprise for Retail. LISAs are awarded by the Long Island Software & Technology Network (a.k.a. LISTnet) to software product developers that demonstrate excellence in development and design.

Developing Seagull

Seagull Software brought home a CODiE from the beach in April, as its HostFront was selected as the “Best Software Development Solution” by the SIIA. Seagull specializes in solutions that transform legacy business applications into service-oriented architecture programs. HostFront is a native extension to Visual Studio.NET that offers .NET developers a familiar development environment in which to transform IBM host applications into web services.

Follow the Beacon

It’s always nice to be noticed by the big guys: Just ask Axentis, winner of the “IGS Teaming Award for Independent Software Vendors” in the annual IBM PartnerWorld Beacon Awards competition. Judges remarked that Axentis “has a unique compliance, risk and governance application that is delivered totally as service using IBM hosting, which helps take care of the scaling requirements of their clients. This is a good way of delivering this kind of solution to the SMB and enterprise space.”

The great Dane

Denmark, a land not normally known for its software accomplishments, nevertheless produced at least one player on the international market last month in a repeat performance of last year. Danish IT firm Zoomio took home no less than a CRM prize from CeBIT for a Microsoft Dynamics CRM marketing module. The independent jury’s award signified Zoomio’s solution as the most innovative in the CRM category. Not a bad win for the land of Hamlet, then.

High Altitude

Product of the year? From the Network Computing Awards, that would be independent contact center solutions vendor Altitude Software’s uCI 7.5. Around for 15 years, the latest version of Altitude uCI took home the prize based on reader votes, all the better to emphasize the product’s popularity with, eh?

Konftel’s big five-oh

Frost & Sullivan found conference telephone supplier Konftel pretty cool this year, too, giving the company a “Product Differentiation Innovation Award” in recognition of Konftel’s having “developed a technically innovative product that differs from competing products in terms of functionality.” Specifically speaking, the Konftel 50 was the innovative product.

Sage, again

Finally, some firms just can’t stop winning. Sage Software recently announced that SageCRM and Sage SalesLogix were both selected by ISM Inc. Customer Relationship Management and eCustomer strategic advisors as “Top 15 CRM Small & Medium Business Software Award” winners for 2007. SageCRM received the ISM award for a fifth consecutive year, while Sage SalesLogix received the award for a ninth straight year, Jordanesque streaks both.