Today’s CRM tools can now be used for managing customer service relationships throughout the entire customer lifecycle, and spanning marketing, sales, customer service, and digital commerce interactions.
Research shows that while more businesses are implementing CRM systems, when it comes to achieving business growth the failure rate is startling. One expert estimates that the CRM failure rate may even be close to 90%.
Buying customer relationship management (CRM) software will only take you halfway to the finish line— a clear strategy will take the soft skills of your customer service teams to the winner’s pedestal.
The algorithms used to power Facebook, Instagram, Google, LinkedIn and the publishers control your visibility and how much you pay, this is where a sound digital media strategy will help you optimise costs and increase returns.
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What is a crm strategy ?
CRM is Customer Relationship Management. A CRM strategy is a company-wide plan for your business to grow revenues and profit, reduce costs and enhance customer relationships (putting them first). Many choose to do this with the help of CRM technology in addition to other marketing strategies and customer support models.
While traditional information technology strategies tend to focus on long-term road maps and budget forecasts that extend years into the future, digital strategies tend to rely on short-term, month-to-month road maps that are tied to actionable items and measurable business objectives.
To be successful, the strategy should place focus on where the company value chain is vulnerable to disruption and could be made stronger and more economically viable from a digital reboot.
common mistakes brands make when putting together a crm strategy
when you decide to develop your integrated marketing strategy , here are few challenges we help you overcome when defining your crm strategy.
Not thinking about the end users when choosing a CRM solution. - To succeed with CRM, organizations should get end users actively involved before ever looking at systems
Not choosing a CRM solution that is sales rep (i.e., mobile) friendly. - the biggest problem with CRM systems is getting sales reps to use them
Choosing a CRM solution that cannot scale. -Many businesses choose CRM solutions ‘in the moment,’ that is, looking at the current state of the business
Not integrating your CRM system with other key systems - To optimize your CRM investment, “integrate [it] with other systems,.
Lack of defined business processes - Businesses that view CRM as a glorified address book miss the bigger opportunity at hand
Inconsistent nomenclature; no guide for how to refer to accounts. - Many companies have redundant entries for accounts–for example G.E., GE and General Electric–making it difficult to prioritize and capture information
Being overly ambitious - Often, companies are so excited about their new CRM system, they set too ambitious goals, and deploy features that confuse or intimidate users who are unfamiliar with the system.
Best Practices to keep in mind when determining your crm stratgey
Don't skimp on CRM implementation Like any brand new tool, it takes time and effort to learn how to master it. A lot of new CRMs are aiming to be ready out of the box.
Set a data standard Once onboarding and implementation are done, you need to think about customer data and metrics.
Automation is key One of the great inventions of CRM solutions is automation. There are so many ways a CRM can take over repetitive tasks for sales reps and other staff.
Leverage analytics One of the good things about customer relationship software is analytics. A lot of activity goes on in a company or organization.
Think of the customer experience Always remember: You are using customer relationship management software for two major reasons. The first is that it is a tool for you or your employees. The second is to ensure high levels of customer satisfaction.
Be clear on why you're using a CRM Whenever we begin a new project, or using a new tool, it's a good idea to define your goals. This may seem like pretty abstract advice for a CRM best practice. But really, it's not that different from any new business laying out their aims and objectives.
steps to take while developing a crm strategy for your business
The first step to creating a CRM strategy is to closely examine your current workflows and any existing strategies. The purpose of the audit is to identify your company’s current weaknesses and strengths as well as the biggest opportunities and threats. This is what’s known as a SWOT analysis.
At a high level, figure out what exactly you are looking to achieve when it comes to customer relationship management. Are you looking to increase your NPS scores? Reduce churn? Shorten your sales cycle? Make sure you have a clear purpose as to why you’re implementing a strategy.
it’s important to have an understanding of who your customers and prospects are so you can create buyer personas. Having a clear picture of who you need to be talking to is only going to help you come up with the right tactics and messaging to reach them.
you should know the ins and outs of your entire customer journey from beginning to end. Familiarize yourself with all of the possible first touchpoints and the rest of your funnel. Relate this cycle back to your buyer personas.
While having an understanding of your customers and internal processes is great, it’s important to know how you stand in relation to your competition. What kinds of materials or resources are your competitors putting out? How can you stand out?
why we are the best people to do this for you ?
We understand that you’re looking for partners, not vendors. That’s why we focus our energies on adding value to your digital marketing strategy. By treating every piece of work as a new challenge, we break it down to produce something that is innovative, strategically sound, and fun.
if you’re looking to measure the effectiveness of your digital marketing effort, there aremany tools out there to help you – but the main thing is that the right metrics and KPIs need to be selected in the first place, we help you set them and build flawless digital experiences for your customers.
The association enabled budding musicians through No.1 Yaari Jam Pads to create their own music. The ask from us was to step in as a digital media specialist and conceptualise, execute and optimise video promotion campaigns for Diageo on behalf of Hungama.
In order to keep in line with the mandate by the brand, not only did we need to drive a large number of users to the new look campaign landing page, but we also had to ensure that the Conversion from Form Fills to Subscription was greater than 10%.
With limited budgets at our disposal and a conscious decision to enter the Indian market only via Modern Trade & ecommerce, our go to market strategy was bespoke and highly tuned to achieve performance across digital channels.