Customers and potential customers are getting more sophisticated. Customers want to trust the companies they buy from and in some case may even value a relationship of sorts. However old style relationship marketing even if one calls it one-to-one marketing is becoming less effective in a world where commoditization of both products and services is becoming the norm. There is a need for more innovative and creative approaches to gaining customer trust and enhancing the customer experience.
The Internal-Customer Relationship Management (I-CRM) approach works in parallel with the framework approaches and enables organizations to achieve early ROI (Return On Investment) and build those important bridges with the internal customers they serve and who pay their salaries. However to understand the need for this I-CRM approach they often have to ask the difficult questions hence this paper sets the scene for some of those sensitive but valuable answers and the benefits that can accrue by following an I-CRM approach.
If it is accepted that the technology for the SFA solution is sound and the software does work then what can be the problem? It must be the people tasked with using the SFA. Who really wanted the SFA solution? Was it the sales and service teams at the sharp end? Senior management faced with the tumultuous changes over the last decade have attempted to ensure higher profit margins in various ways: reengineering, downsizing, cutting costs, outsourcing, sweating assets and of course attempting to make their sales efforts more effective.
Customer Relationship Management (CRM) demands that a person understands which customers create profits and those that destroy it. This white paper explores how a CRM strategy that is coupled profitability measurements and predictive modeling can create sustained competitive advantage. Historic profitability measures just dont measure profitability - financial accounting systems fail the test. To be successful one must consider Long Term/Life Time Value (LTV) and make informed assumptions about the customers tenure with the company.