I just had the chance to get some insights about the very latest CRM technology
Here is what the next generation CRM system looks like:
1) It will for the first time integrate the CUSTOMER into the system – so finally we can rightfully call it CRM.
2) The system is build in a way that no more data maintenance is necessary – everybody maintainers their own data.
3) The good news for sales – they can take some of the data with them if they leave a company
4) Revenue planning is done by the customer – with obviously highest accuracy – no more guessing. Hence no more sales funneling.
5) It has an embedded reference selling engine. So prospects get automatically introduced to customers.
6) The activity reports can be written from all over the world, the customer can edit it if it is not accurate
7) Since spamming customers with emails no longer makes sense, all the complications with mail shots go away
8) Each user is setting up and maintaining his/her own account so the load for IT is dramatically reduced
9) And since the customers have access too – we do not integrate with ERP (another cost reduction)
10) The only function that is no longer in that system and need to move to ERP is forecasting
11) Added features are photos from the customer and their teams
12) No more asking an assistant to figure out the birthday of the customer its all part of the system
13) To better understand the relationship to that customer – the new CRM system even shows the customers friends, family hobbies…
14) The new CRM system is obviously web based so can be accessed via browser from anywhere in the world
15) Some BRAND NEW features include relationship builder, virtual introduction manager, feedback manager, it has a cool CLE (Customer Listening Engine) also known as BLOG, loyalty generator, advocacy report manager and more.
16) The reporting system is also completely overhauled. But it still reports customer size, geographic spread, sentiment analysis and much more
18) Implementation cost however is high – it requires sales to go through a brain wash
Here is an interesting users manual.
Some people gave it also a new name and call it “Social Media”.
It feels a bid early. Only about 300 Million users are using it today, which is only 5% of the world population. But there is a tendency that it may actually get some more adoption. And also there are first classes to actually teach this stuff:
New CRM driver school
Only time will tell
Axel’s definition of new CRM generation is refreshing especially in the current economic climate for Organisations that are looking to adopt a post-recession sustainable CRM strategy. This article 18 pointers speaks volumes about the make-up of holistic b2c model. Looking forward to seeing companies converging to this new way of thinking.
Some CRM failures have happened because of extreme automation that creates one-way communication ‘Company > Customer’ Fuzzy business intelligence that doesn’t really represent ‘Customer interaction’.
CRM is about leveraging the right technologies to manage the flow and having human-to-human contact with that empowers the customer to interact; its also about listening and really KYC:( know what your customer needs )
Social Media is changing the face of CRM for the better.
http://twitter.com/ecjulie
Axel,
As a whole, love the points you make in your post. You did press one of my buttons, CRM is about the relationship not software or tools. Your point 1 really shouts it since that will force sales people to get lazy. Point 12 and 13 are in the same boat, the sales people need to know the customer not read about it. Current applications already allow you add fields for special information such as hobbies. Lastly, point 18 don’t forget Marketing since CRM is a team sport. Points 15 and 16 are spot on excellent thoughts.
I need to mention: Kudos to Bob – this post was inspired by Bob Thompson who wrote http://www.customerthink.com/blog/why_crm_must_die. actually in 2007!!! As always, Bob is way ahead of his time.
Axel,
Its a nice system but I doubt that any of the 300 million people using it would call it CRM, especially when the “M” stands for management. Those 300 million are not interested in being managed by a company. They are interested in a win-win relationship with companies that drop the PUSH approach and adopt PULL, that is, attract customers to their value proposition.
Humm’ what will we do with the $$$ invested in CRM?
John
John I. Todor, Ph.D.
Axel.
Great list. It is a start. I just wonder whether enacting it as e.g. a software tool, would really help customers solve their everyday problems. Many people are happy with today’s push model providing it isn’t too obtrusive. We all make the intellectually arrogant mistake of thinking that all customers are like us. Most of them are not, thankfully.
John
This is not a good definition of PULL. Attracting customers to your value proposition is just part of PUSH. You push communications out to market, and individuals are attracted to your value proposition. PULL is all about understanding what customers really value, organising the value delivery system so that it flows and then giving customers permission to PULL value through the system on demand.
We have to go back to basics and think differently if we are to solve this problem with innovative new software tools that work for customers. The start point is really understanding what customers value. As of right now, I would say that most companies simply don’t know. The current emphasis on software and analytics just obscures this fact further.
Graham Hill
Customer-driven Innovator
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Graham,
My statement should not be taken as a complete definition of PULL, but the idea of attracting customers to a value proposition is certainly a essential component. Your idea is to listen to customers and deliver the product they want. I suggest that Axel point about a Customer Listen Engine should be interpreted as listening to customers conversations about the experiences they have with products and learning from that conversation. If there is a difference in what we are saying, it is that the outcome customer seeks is what should be important to the company.
I do acknowledge that a large number of companies are using social media in a PUSH fashion to increase the visibility of the brand. This might work for a while but will eventually be replaced by companies that participate and facilitate conversation about issues, outcomes and experiences surrounding products.
John
John I. Todor, Ph.D.