Why CRM Financial Analysis Always Fails

A smart person once said, ‘As long as you’re asking the wrong questions, it doesn’t matter what answers you come up with.’ When it comes to making the business case for CRM, the CFO is likely to ask too many of the wrong questions.

See on www.cio.com

Photocredit: Myf Shepherd by Umit Savacı for Vogue Turkey November 2013 | Photoshoot

Myf Shepherd by Umit Savacı for Vogue Turkey November 2013 | Photoshoot

Myf Shepherd by Umit Savacı for Vogue Turkey November 2013 | Photoshoot

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How to create a Road Map for Great Customer Support

headshot 3.jpgAnother fine guest post by Stefanie Amini, Marketing Director, WalkMe

An open and honest orientation towards customer problems is the key that opens the door to marketing success. In business, there are only two ways to create and sustain a superior performance on the long run: an exceptional customer care and constant innovation. A company that adopts the marketing concept philosophy sees the client as the principal driving force behind his work, believing that business can only survive if it can satisfy his needs.

In a competitive market economy, buyers can choose what, when and where to buy, or whether to buy a product or not. Thus, to succeed in attracting consumers, the logical starting point for the company is to identify what customers want and then try to meet these requirements in a more effective way than your competitors. In the long term, a company must satisfy customers and make money from it. 

As the company offers better synchronization with the demands, preferences and desires of its consumers, they will be willing to pay more, and thus generate profits for the business. As a result, marketing as a business philosophy can be defined as the ability to create and retain profitable customers.

Creating clients for a company involves monitoring business to react to shifts in potential consumers’ needs, so that they become loyal customers.

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Customer retention refers to the ability of the company to minimize or avoid threats to its customer caused by changes in their needs or because of changes that occur among competitors.

Customer orientation is found in cases where companies are concerned to know what their customers’ needs are. In many cases, companies are concerned about production and related technological processes, failing to perceive that customer needs have changed and that their products do not meet those needs. In these situations, it is created an opportunity for its competitors to enter the market and provide products and services that better meet those needs. Thus, the companies in question will face increasing difficulties in selling their products. 

Without a results-oriented marketing strategy, one which involves a strong customer support, a company would gain new customers and perhaps lose the ones that they have previously gained after a very short time. According to one old style marketer’s quotes, if you manage to win a customer when he is young, you’ve won his life. Here’s a comforting thought, but not an entirely true one. Preferences are perishable, especially in our days. If you fail to come up with new ways to recreate or restore people’s preference for a product, customers will disappear and you will soon disappear too.

Indeed, you need to win the customer’s trust while they are still young, but you also have to come up with new reasons for people to buy your product. Customer support plays a very important role in this, as clients need to be assured that someone will come to their help in case something goes wrong. Thus, the customer care department might even more important than advertising when it comes to a company’s long-term survival strategy. Companies like WalkMe try to combat this area. With the help of self service and online guidance, customers can be in control, while feeling like they had a great service. Self-tasking gives customers empowerment. If there are small issues, the self-service tool can help, and for bigger issues they can happily contact support. Waiting times will be shorter due to less customers calling for small issues that still cost the call center money.

Coca-Cola understood this message very clearly when it began losing customers in the early 70’s. It was assumed that since Coca-Cola was loved by the public, would be automatically consumed. But guess what happened? Coca-Cola was loved, but not consumed. The same thing is happening to many other companies which consider themselves a landmark in the sales department. 

The way in which customer support should be regarded can be learned from companies like Zappos, the shoe company which puts customer service above everything. They offer free shipping to their customers on all items, over 1000 brands to choose from, an unmatched 365-day return policy, and a friendly customer service that’s available 24/7. Customers are always happy to purchase from Zappos, and as they recommend their services to more and more of their friends, the company is the one which rejoices from an ever-increasing loyal customer database. We should all learn from this and treat our customers like they are the only ones in the world, since otherwise competition is the once which takes advantage of our mistakes.

What can we learn from this? is that you need to secure long term service for the customer. Make sure they are happy not just today, but tomorrow and the next day too. Offering a service that is solid will create loyalty and then customer service becomes easy.

Image representing WalkMe as depicted in Crunc...

Image by None via CrunchBase

Stefanie Amini is the Marketing Director and Specialist in Customer Success at WalkMe, the world’s first interactive online guidance system. She is chief writer and editor of I Want It Now, a blog for Customer Service Experts.Follow her @StefWalkMe WalkMe™ is Named “Cool Vendor” by Gartner and is Winner of Red Herring Top 100 Tech Startup Award.

Check out WalkMe in the Press

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Social Customer Service Statistics | Social Media Today

social customer service Looking from this year back to last, it’s scary just how fast social customer service and engagement has evolved.

See on socialmediatoday.com

Photocredit: reading-is-cool,

Don’t Reengineer. Reimagine.

 pulletbroof)

What does it mean to become digital? Companies in all industries are building online businesses, enabling new customer experiences, experimenting with “big data,” and seeking advantage in a digitally enabled business environment. They have tried reengineering their practices; they have set up new technological platforms for customer engagement and back-office efficiency. But these efforts have not yet had the impact that they should. Instead of reengineering, they need reimagining. They need to conceive of their business freshly, in line with the capabilities that digital and business technologies can give them, connecting to customers in ways that have not been possible before.

Reimagining your business means creating many of

Read more at http://www.strategy-business.com/article/00181?gko=1e916&cid=20130910enews&utm_campaign=20130910enews

 

My point of view:

  • The item was published in May 2013.  As you are probably working on your business, professional or personals for 2014, I thought it is relevant now  to publish on http://www.serve4impact.com.
  • Yes, becoming digital is a major enabler.
  • But is not the only enabler for any organization or professional. Among others globalization, emerging networks and other forms of collaboration are also major enablers.
  • So please use our imagination in a true sense. Do not restrain your yourself to become merely a digital image.

What does your imagination say? And even more, which developments will impact you most in 2014?

Photocredit:  pulletbroof

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Danielle Arad’s guest post: 3 Disruptive Trends which are Affecting Customer Experience

Danielle Arad, Marketing Director at WalkMe wrote this post for my blog.

Regular readers may be aware of that disruptive innovation and customer experience are two of the major themes in my social media activitities. Danielle’s post is a fine wrap-up of how customer experience is affected.

With the rapid development of new trends in the technology industry, we are seeing a rapid shift in business strategies of companies. While it’s important for a business to adapt to changes in the industry to keep up with the competition, these trends should be implemented in such manner that they will not affect the performance of that business. Next, we’ll have a look at the top 3 disruptive trends in the digital media industry and how they are able to affect one’s company:


1. Multi-screen Proliferation

Mobile engagement is, by far, the hottest trend this year. The new generation of customers is making great use of the mobile technologies available nowadays, which has led to this segment facing an immense growth. For this reason, a business which doesn’t have a website adapted to the mobile users need is considered to be pretty much obsolete these days. It’s not only the young generation which is taking advantage of this front, but the more experienced one as well. For instance, when people come back from work, many of them choose to open a shopping session right on their smartphone/tablet, and therefore a business that’s not adapted to this trend risks to be thrown off the market.

However, it’s not only about the mobile world quickly developing, but rather about a multi-screen experience. Consumers are starting to get accustomed with using more than one device at a time, and they are donig it quite well. They have understood that different devices work better in certain situations, at certain speeds, and that they can help boost productivity and social engagement. In this regard, businesses must adapt themselves and build customer experience strategies accordingly. The user experience they develop must be constant and smooth across all platforms.

2. Social Engagement and Gamification

The customers’ new demands for engagement are able to largely affect the implied customer experience. hildagrahnat When talking about the new engagement preferences, we should take into account the following context: social media channels are quickly rising in popularity, leading to the customers becoming more aware. Only by now, Facebook and YouTube number more than 1 billion unique visitors per month, and many businesses choose to approach customers through these channels in order to increase their services success. In addition, all other social media networks are facing a large visitor growth, which lead to them becoming great assets’ in a business’s promotional and customer support needs.

According to Gartner, by 2016 the customer experience model will become far more streamlined, allowing users to yield more social files at once and on multiple devices. This will not only boost the social aspect, but it will also lead to becoming more context-aware and more attentive to the changes that take place around them. 

Another important aspect, which needs to be taken into consideration, refers to the gamification concept. Gamification has begun to be adapted by companies and web-based businesses in an effort to boost customer interaction and to make the browsing experience a more fulfilling one. In the near future, gamification is expected to become the industry standard in multiple domains, with companies being required to adapt to it if they wish to succeed.

3. More Precise Analytics 

More and more analytic systems are being implemented by web-based businesses and individuals in an effort to boost customer experience. Analytic systems have, indeed, a strong effect on monitoring the user’s desires and preferences. They allow for a more personalized experience to be built, to address the customers’ issues as they arise, and to gain access to the customer’s social context. In addition, they allow businesses to be more empowered when it comes to setting up their NPSs and enable to be more objective-driven.

We are currently witnessing a forceful development in the area of analytics. These systems are becoming more complex, allowing website owners to find out precisely the user’s areas of interest and how certain points can be adjusted in order to suit their interests. In the near future, we are to witness analytic systems which will do their job almost automatically, requiring minimal interaction on the admin’s side. Such means will allow website owners to discover certain ‘red’ areas of a website, and do the necessary changes to them as to enhance business’s profitability.

Photocredit: hildagrahnat

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