4 Tips for Building a Strong CRM Strategy
A poorly developed strategy is one of the most common causes of CRM failure. To succeed in long-term implementation, you need a plan that addresses data collection, data analysis, program development and results tracking. Also, your organization needs to treat customer relationship management as an ongoing, evolving system, rather than a one-time initiative.
The following is a look at several critical tips for building a strong CRM strategy in your business.
Dedicate It to the Customer You Love
Despite all the technology and data that drives the CRM engine, your company will never succeed without a customer-centric culture. If you don't currently have one, a cultural shift is necessary before you get any further in your strategic planning.
Know Thy Data
Don't invest in software and technology infrastructure without knowing the types of data you want to collect. Your data collection should align with your goals of CRM, which often include higher profitability, long-term relationships, and an optimized customer experience.
Customer profile data and transactional or behavioral data are the two common categories of CRM data collection. By building detailed prospect/customer profiles and capturing extensive behavioral data, your reporting achieves much greater accuracy for use in marketing decisions.
Align Front-End and Back-End Activities
A true CRM program is enterprise-wide, which means every department and every employee has a role that is based on inclusion in the CRM system. Back-end functions, such as IT and operations, take on a customer-enabling role where they help front-end staff optimize connections with customers across all touch points.
Most importantly, align your marketing, sales, service and support teams toward the primary goal of attracting and retaining your core customers. It is vital to sustained CRM success that each of these functions knows its role, and how that role fits with the activities of the other departments. Marketing, for instance, typically handles lead generation activities. Your sales team is responsible for nurturing and conversion, along with data capture throughout the selling cycle.
Measure and Amend
As you implement marketing, sales, and service activities intended to achieve CRM goals, capture and track all data possible. CRM is an iterative program that allows for continuous improvements to targeted marketing, sales processes, and the customer experience.
The data you collect and analyze should offer insights into the types of lead generation strategies, contact methods, selling activities and support tasks that achieve the greatest results. Enhance relationships and increase profitability over time by ramping up high-producing tasks and eliminating wasted steps.
Customer relationship management has the power to allow your business to achieve unprecedented, profitable relationships with your core customers. However, you need to recognize the steps and departmental roles that must contribute.
BKV has expertise in building and executing CRM strategies for our clients. Contact us and take the first step to reaching new heights for your business!